Atomic‐scale processes at electrode surfaces in liquid electrolytes are central elemental steps of electrochemical reactions. Detailed insights into the structure of these interfaces can be obtained with in situ scanning tunnelling and atomic force microscopy. By increasing the time resolution of these methods into the millisecond range, highly dynamic processes at electrode surfaces become directly observable. This review gives an overview of in situ studies with video‐rate scanning probe microscopy techniques. Firstly, quantitative investigations into the dynamic behaviour of individual adsorbed atoms and molecules are described. These reveal a complex dependence of adsorbate surface diffusion on potential and co‐adsorbed species and provide data on adsorbate–adsorbate and adsorbate–substrate interactions in a liquid environment. Secondly, results on collective dynamic phenomena are discussed, such as molecular self‐assembly, the dynamics of nanoscale structures, nucleation and growth, and surface restructuring due to phase‐formation processes.