Topic: How are bitcoins normally traded? (Read 136 times)
Everything in life is subject to getting hacked but we can prevent that by decentralizing our systems so that hack happens less often. Another measure we can take is to put passwords and 2FA on every exchange and device because lets face it that doesn't happen as much as it should. Otherwise these hacks wouldn't be happening and we wouldn't be discussing only p2p transactions which is good but not necessary for the system to work.
most if not all exchanges operate on the same premise where essentially your buying one currency with another one , the value for bitcoin comes from the work performed by computers.so you will find exchanges that for example convert your bitcoins to us dollars or the other way your us dollars into bitcoins and from that exchange you will make some money , of course the amount you make will depend on the exchange you use and the price of bitcoins at the time. As per usual due diligence is always required whenever your are performing any form of financial transaction and this research will hopefully prevent you from making a "false" transaction.
In the world, there are many bitcoin trading exchanges but completely unmanaged exchanges and each exchange has its own price. Bitcoin trading history has seen a lot of trouble from the site collapsed due to sudden traffic increase or hacking and stealing large amounts of bitcoin.
So thats mean we should not use any trading exchange anymore?
Definitely NO, it is through exchanges that we can multiply our btc through trading. I think the real answer to your question would be is for ur to manage our money through these exchanges. We are responsible for everything we do and that includes picking the right exchanges.So thats mean we should not use any trading exchange anymore?
First of all, prices in different exchanges are different very much from each other. Even if they are different, you can buy from an exchange which sell bitcoin at the lowest price.
And you shouldn't keep your coins in exchanges. Always keep your bitcoins in wallets.
And you shouldn't keep your coins in exchanges. Always keep your bitcoins in wallets.
They have their own price but it can't be so far from other exchanges. If the price too high or low, investors will go to an exchange and buy BTC there to transfer to the exchange has higher price and sell them, that's totally not good at all, and that exchange will lose much profit 
Of course that doesn't mean we shouldn't trade or use exchanges anymore. If a bank got robbed would you stop using all banks because one bank got robbed? We gotta think in the bigger picture and in the grand scheme of things most exchanges function fine and have zero issues.
In the world, there are many bitcoin trading exchanges but completely unmanaged exchanges and each exchange has its own price. Bitcoin trading history has seen a lot of trouble from the site collapsed due to sudden traffic increase or hacking and stealing large amounts of bitcoin.
So thats mean we should not use any trading exchange anymore?
So thats mean we should not use any trading exchange anymore?
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