Topic: How do crypto exchange help a cryptocurrency? - page 3. (Read 1260 times)
These exchanges have larger volumes relatively. People find such exchanges as trustworthy so most people get to trade there. When a coin is listed on such exchanges people see those coins easily and prices are likely to go up because many traders use those exchanges.
An exchange is a place where cryptocurrencies can traded. A typical exchange implements safe methods of trading where every trader can buy or sell various cryptocurrencies by the best market prices so I consider that the main purpose of an exchange is to organize a safe and reliable place for trading. I do not think that an exchange has to help any cryptocurrency because it is not a task of an exchange.
Crypto market is the soul for the cryptocurrency. Without it, Bitcoin cannot reach this point. Crypto markets basically handle demand and supply for each user in the market which also decides the current price of the currency. Bitcoin exchange basically takes your coin and exchanges with other altcoins or physical currency.
I'm not familiar to the world of trading (even the traditional ones). Can someone explain how a crypto exchange (like Binance or Kraken) benefits a cryptocurrency?
An exchange acts like a brokerage. A broker is a medium who buys or sells goods or assets for clients. You (the investor) uses their medium to buy and sell orders of cryptocurrencies. Major money is constantly in transit between the exchange and its clients. Orders for buying and selling happen all day.In the U.S, a individual, or business must have a money transmission license to deal in buying or selling fiat. The exchange usually has these legal matters squarely in order, not all the time though. The exchange makes the transactions smoother and faster, saving the investor the convenience of registering for licensing and other permits in order to exchange money, especially in large amounts.
An exchange is a very necessary commodity!
Exchange is the market square of cryptocurrencies, without exchangers selling and buying of cryptocurrencies would not be easy and global. In the exchangers if there is a promising coin a trader can buy or sell off at anytime. We also have exchangers that where we can exchange the cryptocurrency to our traditional fiat, e.g luno and remitano.
An exchange is like the market for cryptocurrency were they get listed and be available for the public to trade on. the benefits for any cryptocurrency from getting listed on exchanges is the chance to get a good expose on a wide base. Getting listed on an exchange also give the chance for a cryptocurrency to get priced based on offer and demand which can be a real estimate of how much it is worthing at a certain moment.
Crypto exchanges allows you to acquire any crypto that you are in need of. Please not that not all cryptos are used for the same reason
Exchange is doing a very important task intermediate party between sellers and buyers. To prevent people trying to scam others over peer to peer.
That is very useful for investors, especially big investors who have a lot of money. The intermediary, stand out guarantee for investors feel safe. Buying and selling electronic money exchange is much more convenient. I'm not familiar to the world of trading (even the traditional ones). Can someone explain how a crypto exchange (like Binance or Kraken) benefits a cryptocurrency?
When a coin is listed on Binance or Kraken, and if you hold that coins then you can simply deposit it to them and you can sell. It benefited us because it can make us money, in layman's term. You sell your coins then some buyers will pick it up and pay you, simple as that.
The exchanges creates a simple avenue for the value that we have given to these digital currencies to be traded for either a different currency of fiat. Some are centralized exchange platforms although blockchain was designed to take a decentralized form. Others are also decentralized. The centralized platforms are more helpful compared to the decentralized exchange platforms.
For a healthy market, exchanges help in the trade with new investors. The demand in exchanges from investors increases the prices, for coins that are capped with fewer token available for trade the demands my surpass the supply, whereas affecting the price. Some project reward the investors with a buy back clause at good price which could serve as profits for investors. Most of the coin cant be traded to fiat but can be converted to bitcoin, ethereum, tether etc when the need demands.
I'm not familiar to the world of trading (even the traditional ones). Can someone explain how a crypto exchange (like Binance or Kraken) benefits a cryptocurrency?
Usually, the exchanges can only help tokens that can be exchanged. But if the token is listed on a "awesome exchanges", that would be great. For example, if a coin is listed on the binance, its value will increase several times.
There are a lot of crypto currencies and I don't think that even if that certain exchange is an "awesome exchange", there are a lot of times that their value do not change. With a lot of other competents, I don't think that certain crypto currency will be popular if they are not better than other crypto currencies. I guess the help of these exchanges is that it makes a lot of investors increase the demand of a certain currency because it has a value of other popular crypto currency.
Exchange is doing a very important task intermediate party between sellers and buyers. To prevent people trying to scam others over peer to peer.
I'm not familiar to the world of trading (even the traditional ones). Can someone explain how a crypto exchange (like Binance or Kraken) benefits a cryptocurrency?
They facilitate crypto transactions. facilitate value exchange. and also expand crypto transaction range. they also get big profits from it. but the risk of an exchange is also the magnitude of cases of hacking or asset theft,
An exchange doesn't help so much a cryptocurrency. Besides acting as a bridge to trade it doesn't do anything regarding the purpose of the crypto (using a currency)
When a big exchange like Binance lists a new coin its value can jump to 30% or more. If you wanted to know an exchange can help a crypto then here it is
When a big exchange like Binance lists a new coin its value can jump to 30% or more. If you wanted to know an exchange can help a crypto then here it is
I'm not familiar to the world of trading (even the traditional ones).
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Can someone explain how a crypto exchange (like Binance or Kraken) benefits a cryptocurrency?
Benefit is not the right term to ask, trading system gives value to something we wanted to trade with.Basically, everything that has value, or what we think has value, must go to trading system. Precious metals like gold, and silver is being traded because a community gives value to it. A corn is also being traded via futures exchange, to give value to it.
The value of anything will depend on a community, on how much we need it, but anything that we value will also rely on a trader. Do you wonder why the value of oil goes up or down sometimes? People might tell you, because of supply/demand or inflation/deflation, but the trading system plays the biggest role on how we value things.
P.S, this is how I see everything that has value IMO.
I'm not familiar to the world of trading (even the traditional ones). Can someone explain how a crypto exchange (like Binance or Kraken) benefits a cryptocurrency?
Usually, the exchanges can only help tokens that can be exchanged. But if the token is listed on a "awesome exchanges", that would be great. For example, if a coin is listed on the binance, its value will increase several times.
It depends on the exchange. If the exchange is honest and doesn't mess with any numbers, then it provides users with ease of access to the market. When users have ease of access, they can trade more. More trading means higher liquidity and better transactions. If more traders have access to decentralized exchanges and can move money back and forth, it will increase the value of cryptocurrencies.
But if the exchange has unethical practices like selling info, opening itself to hacks, or faking volume, it can affect crypto very negatively. Hacks especially are very bad news for crypto because they generate fear.
But if the exchange has unethical practices like selling info, opening itself to hacks, or faking volume, it can affect crypto very negatively. Hacks especially are very bad news for crypto because they generate fear.
This is very clear if without crypto exchange we will not be able to exchange fiat into cryptocurrency like btc, eth, ltc and so on.
Then, how can a trader benefit without crypto exchange? Maybe this is another answer to your question.
Bitfinex who likes margin trading, binance that wants daily trading with SL.
I think crypto exchange still has many advantages to the development of cryptocurrency.
Then, how can a trader benefit without crypto exchange? Maybe this is another answer to your question.
Bitfinex who likes margin trading, binance that wants daily trading with SL.
I think crypto exchange still has many advantages to the development of cryptocurrency.
I'm not familiar to the world of trading (even the traditional ones). Can someone explain how a crypto exchange (like Binance or Kraken) benefits a cryptocurrency?
the only benefit is process wereby you can trade you token to any cryptocurrencies or coins that you requires moreover binance is the one of the most popular trusted trading platform.
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