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Topic: How do crypto exchange help a cryptocurrency? (Read 1263 times)

full member
Activity: 420
Merit: 100
September 25, 2018, 09:27:37 PM
#63
Exchange would determine how valuable the coin or tokens are. It is were we can trade to BTC/USD or other altcoins or tokens. It will indeed help cryptocurrency boost and be accepted more in the society.
jr. member
Activity: 142
Merit: 2
September 25, 2018, 09:20:00 PM
#62
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?


In my own understanding exchanger is place were you can convert all you token or coin into a type of any crypto currency. Example you joined a bounty campaign from their they will paid you token, most of the time bounty use token as a salary for their participant. After ico's was ended you will need to wait until that token had enter to any exchanger from their you can deposit all your token then, thats the time that you can convert your token into crypto currency most of the time they choose bitcoin because it has a great market value of all types of crypto currency.
full member
Activity: 616
Merit: 124
September 24, 2018, 08:31:10 AM
#61
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?


cryptocurrencies are based on blockchain technology and can be traded on centralized and decentralized exchange platforms. exchange platforms provides a structure for the people that adapted to crypto world, such as traders, holders and other crypto investors.
member
Activity: 546
Merit: 10
💲 EMIREX EXCHANGE 💲
September 12, 2018, 06:16:24 PM
#60
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?

it's like an analogy, you have a garden, you have lots of fruit. but you have no place to sell it, then will you sell it in front of your house?
what if it's not sold, won't the fruit rot?

and you see the market, where they sell various kinds, isn't it more effective to sell on the market ?
That's how it works, You get a profit, Buyers get what they want, and the fruits won't get rot faster.
full member
Activity: 1344
Merit: 110
SOL.BIOKRIPT.COM
September 12, 2018, 06:00:21 PM
#59
It gives liquidity, scatter the coins to the world with different people holding it. Give others the chance to buy the coin when they were too late to get the offer from the start. Sometimes if it is on a well known exchange it also gets famous, and therefor give a hype in the crypro community. The bad thing is that some whales are able to manipulate like putting big money on it in order to pull back the price and buy it.
member
Activity: 805
Merit: 26
September 12, 2018, 05:22:43 PM
#58
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?
Cryptocurrency exchange becomes the way to exchange the tokens wether it is connected in ERC20 token, NEP token or other smart contract platforms. The exchanges become also the portal of the trader who wants to earn in cryptocurrency. Cryptocurrency exchange is good as stock exchange because there are no limits in crypto and it does not required a lot of money though it is advantage in trading.
hero member
Activity: 1526
Merit: 596
September 12, 2018, 04:55:56 PM
#57
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?

In a decentralized cryptocurrency, exchanges shouldn't really matter.

However, there are some tokens/coins/assets that have such low makret capitalization and have just came out that once they get listed on a major exchange like this, the extra publicity and liquidity causes their markets to go up.

But in terms of real on chain benefits, exchanges do not affect any of those. I'd say that only an asset's liquidity and price would be affected, just as you would see when a company goes onto a major stock exchange.
member
Activity: 378
Merit: 25
September 11, 2018, 01:41:16 AM
#56
exchanges can be called the bridges between fiats and cryptos, it intermediates digital money and physical money and vice versa, there are many exchanges out there but be careful to choose the most trusted sites, there are some exchanges that has a legitimate credentials and there are some unstable sites that can burn your cryptos. they are considered as the third party sited that caters conversion to other cryptocurrencies and tokens. they also buy and sell tokens and other coins as a form of crypto investments.
legendary
Activity: 2674
Merit: 1048
September 11, 2018, 12:56:17 AM
#55
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?
Untill now, a person who has a cryptocurrency is mostly used as a system to get profit, whether they use trading, lending or investing. Because most of the online trading system or conventional trading system still use money fiat. The function of an exchange itself is to exchange cryptocurrency against money fiat, even though they (users) who store bitcoin in hardware wallet when they want to exchange cryptocurrency for money fiat they must definitely use an exchange.
legendary
Activity: 1666
Merit: 1001
September 10, 2018, 07:04:59 PM
#54
Crypto currencies need supply and demand to grow the bigger the supply and demand, it will create bigger transaction volume, if the transaction volume is big then it's mean the crypto got a lot of investors, because most people now are treating crypto as investment,so most of them are trading Bitcoin through exchanges
sr. member
Activity: 882
Merit: 297
September 10, 2018, 06:50:49 PM
#53
Crypto Exchanges are created to trade crypto currency, because without exchange how are you going to buy and sell the coin and increase the value of the coin. So this type of benefits are done by crypto exchanges to the crypto currency.
hero member
Activity: 1666
Merit: 502
September 10, 2018, 06:45:13 PM
#52
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?
Because with the exchanger like binance, bittrex or othe make cryptocurrency can be bought and sold, this helps us as traders or cryptocurrency users to buy or sell crypto itself, and with the exchange the traders or users who buy it will increase interest in cryptocurrency, it would be strange if we wanted to buy or sell but no one place.
sr. member
Activity: 532
Merit: 255
September 10, 2018, 06:23:12 PM
#51
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?

Every crypto exchange account's identical to selling, buying, withdraw and storing transactions. Their existence can certainly contribute to the growth of cryptocurrency for example by reducing the transaction costs imposed because for most investors high transaction costs can lead to a decline in their interest in investing and the wider community may be reluctant to adopt crypto.
hero member
Activity: 3038
Merit: 634
September 10, 2018, 06:06:37 PM
#50
Exchanges are now benefiting to cryptocurrencies through withdrawal fees and listing fees.

But in return, as a trader, we get to have the best service that we can from well known exchanges and we can have a way to exchange those coins that we are getting. There will be no way to withdraw and cash out crypto's if there are no exchanges out there that's being funded by millions of dollars.
newbie
Activity: 112
Merit: 0
September 10, 2018, 06:03:40 PM
#49
Crypto exchange has contributed much to the existence of cryptocurrency. To be able to convert or exchange from one crypto to the other we need to have a crypto exchange. Here in our country, not all cryptos can be used in purchasing goods or services. Our merchants here only accept bitcoin thus we need to convert our other cryptos to bitcoin or fiat money to be able to use it in buying goods, online shops, pay bills, buy loads, etc.
hero member
Activity: 2352
Merit: 905
Metawin.com - Truly the best casino ever
September 10, 2018, 05:15:03 PM
#48
It's funny to read what others post here, let me state my true (I think so) opinion:
After all USD is most widely used currency and we convert bitcoin in usd. Without crypto exchange, it would be impossible to determine it's price and no one would use it. What is crypto? Just virtual thing. From it's nature, price is determined by last buyer overally, it's decentralyzed. Also people need price in usd behind bitcoin to use it in real life.
hero member
Activity: 1708
Merit: 541
September 10, 2018, 04:54:31 PM
#47
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?
For exchange that directly accepts fiat, they help cryptocurrency as the bridge for fiat-crypto transaction. Without them, you won't have an easy time when you want to buy or sell crypto with fiat. These exchanges make fiat crypto exchange easier. Because it's easy, it'll indirectly affect how much money is invested in the whole crypto industry.
full member
Activity: 756
Merit: 108
September 10, 2018, 01:17:57 PM
#46
Here everything is simple - the more good exchanges will accept a coin, the more it will have the volume of trades, greater the volatility, and accordingly the coin growth will be higher. It becomes more promising for traders. But good exchanges want really crazy money for listing.
sr. member
Activity: 730
Merit: 250
September 10, 2018, 01:09:15 PM
#45
Exchanges are needed to exchange one currency for another. The better the exchange, the more sales volumes there are on it. Recently, there are a lot of exchanges, but the people's preferences still remain to the old and trusted exchanges.
sr. member
Activity: 676
Merit: 319
September 10, 2018, 12:36:48 PM
#44
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?

Without exchanges, you will not be able to exchange your cryptocurrency (no matter what it is, bitcoin, ether, monero or some other altcoin). That's why exchanges are very important for the development of cryptocurrencies.
jr. member
Activity: 352
Merit: 1
September 10, 2018, 12:27:31 PM
#43
Crypto exchange is like a normal market where goods can be exchange or trade for fiat and vice versa...Crypto exchange create a platform where cryptocurrency can be easily convert or trade to fiat and verse versa. The adoption of crypto is on the rise partly because investors know there asset (holding)can be easily converted to fiat via an exchange at any particular time.
full member
Activity: 434
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September 06, 2018, 11:12:40 AM
#42


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September 06, 2018, 10:12:16 AM
#41
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?
Good exchange could help investors to trust their coins on it and we been see so many exhcange got hacked and thats why we do need a good exchange such as binance and kraken. The more investors in the more better the crypto ecosystem. Exchange also became the first gate for investors to start investing their money into crytpocurrency.
newbie
Activity: 159
Merit: 0
September 06, 2018, 08:43:09 AM
#40
I hardly can say that cryptocurrency exchange somehow helps coins. It rather eases the process of acquiring cryptos for traders, not more than that.
Exchanges, like those you've mentioned, perform an intermediary function between buyers and sellers. Roughly speaking, it's like going shopping: you want to buy some stuff, and there's a shop that have it, with a person eager to sell it. Only instead of products exchanges provide cryptocurrencies and seller is not a person but a group of people who use the service.
I would recommend you visiting one of them and look how it's designed, what it offers, and what purposes it can be used for. Let's give an example – CEX. This website is rather simple in use. What I like about them is the option of buying cryptos for fiats (USD, EUR, GBP etc.). By the way, they updated some of their payment methods, check it: https://cex.io/wires-campaign/.
member
Activity: 434
Merit: 10
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.
It all belongs to the modern era Blockchai technology. The electronic money market has since come out, then accelerates the projects of other currencies. Bitcoin is well received by the community. So it has great value for the electronic money industry.
newbie
Activity: 130
Merit: 0
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?

Of course a big exchange really helps crypto currency trading every day and makes crypto currency more famous. Therefore, of course the exchange has a large supporting ability for the crypto currency.
member
Activity: 322
Merit: 10
crypto exchange provides a platform for crypto users to trade cryptocurrencies and/or fiat
trade volume shows liquidity which may help a cryptocurrency to gain values and supporters
and by having a "trusted" platform, users may benefit some degree of security while trading
Like what you shared the platform for, you need absolute trust. To avoid the loss will happen. When supported by the community, it is possible to exchange crypto exchange to help with electronic money...
newbie
Activity: 57
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Its like a banks when the banks so many at place somr people easy to transaction,then the exchange listes much altcoin so many people easy transaction
full member
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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?

Well crypto exchange is a non-physical exchanger for the tokens that you have to be a useable cryptocurrency which you can used to convert to you fiat and used it as your source for your necessitites which is okay that it may able ofr us to have a consumeable currency, if exchanger doesn not exist it is impossible for us to use bitcoin in real world given that nowadays entities that uses Bitcoin ks very limited.
newbie
Activity: 101
Merit: 0
if many are exchanging, it means that there are many interested ones. and if there are many interested people and many get results from it, there will be more and more people who want to know about cryptocurrrency.
sr. member
Activity: 644
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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 grow the volume of particular coin heavily and when it comes to the Binance like exchanger then it is best of all time. I have seen and observed that whenever the coin gets listed over the binance then it hikes by 20-40% or more in single day and this is because binance has huge user base and it is pushing the market to higher levels very quick as many people go and invest into it in very short period of time. This is what coins benefit is when it gets listed over the exchanger. It actually gains more investors as compared to the ICO period and thus make it bold, and liquid project.
member
Activity: 238
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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?
This will help more investors to invest or do trading as they can easily convert their coins into other currency or cash out into fiat if they need real money. Crypto currency exchanges has been the phenomenal business in crypto as we can see many ICOs that will launch new exchanges.
sr. member
Activity: 700
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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?

Thats a good question. Exchangers are actually playing big role in the coin evolution because that is the only platform which connects the investors and projects by bridging them. I think this way people benefit from trading the coin and profiting themselves while on the other hand crypto currency gets invested heavily and they ultimately raise the funds for project development. So its like the portal from where crypto currency can gain the value for themselves. Apart from this people do come to know which coin exists in the market and which is great from all of them, by means of volume, orders, value etc.
full member
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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?
For a new token or just finished from the ICO process, this will provide a good pump for tokens received by large exchanges such as Binance or Bittrex.

In addition, an exchange will make it easier for users to exchange money for money fiat. An exchange like binance or kraken and bittrex are very popular with traders cryptocurtency because they have a high volume compared to local exchange which is only used by a few users. I guess an exchange has no special function that will provide cryptocurrency, such as an increase in price. Only a place to facilitate cryptocurrency users.
member
Activity: 812
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Exchange help us to trade our crypto with others peoples around the world. Right now, exchange is profitable bussiness because transaction on crypto market growing bigger. Crypto exchange is like a bank in crypto world where we convert our crypto to fiat or others crypto
jr. member
Activity: 154
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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?

Crypto exchange or digital currency exchange (DCE) is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money, or different digital currencies. They can be market makers that typically take the bid-ask spreads as transaction commissions for their services or simply charge fees as a matching platform. DCEs may be brick-and-mortar businesses, exchanging traditional payment methods and digital currencies, or strictly online businesses, exchanging electronically transferred money and digital currencies.
hero member
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crypto exchange provides a platform for crypto users to trade cryptocurrencies and/or fiat
trade volume shows liquidity which may help a cryptocurrency to gain values and supporters
and by having a "trusted" platform, users may benefit some degree of security while trading
copper member
Activity: 798
Merit: 250
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.
In addition, exchange is something that make cryptocurrency visible still alive/used by everyone. In fact that i've see, there's no one want to buy/invest on coin that not listed on an exchange. high risk and likely to die, it's more frightening than gambling Roll Eyes
full member
Activity: 403
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Exchange sites benefits crypto currency by exchanging it onto another coins/tokens that you prefer to be. Aside from that, traders from different coins/tokens can make profits into it. Theres a lot of coins/tokens at the markets and some of them are has a potential to grow in the futute. Meaning without exchange site, you cannot exchange it into your own money to withdraw.
member
Activity: 215
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The market demand and supply availability is calculated with the volume of respective cryptocurrency under circulation through different cryptocurrency exchanges. More the trading volume, more will be the growth of the cryptocurrency, also getting listed on large number of exchanges will let the user have higher level of trust over specific asset which helps in attracting more investors.
member
Activity: 322
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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.
jr. member
Activity: 658
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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.
legendary
Activity: 1274
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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.
sr. member
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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!
full member
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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.
sr. member
Activity: 840
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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.
jr. member
Activity: 72
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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
member
Activity: 322
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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.
hero member
Activity: 2660
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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.
newbie
Activity: 112
Merit: 0
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.
sr. member
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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.
sr. member
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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.
legendary
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Exchange is doing a very important task intermediate party between sellers and buyers. To prevent people trying to scam others over peer to peer.
sr. member
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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,
copper member
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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
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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.
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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.


newbie
Activity: 20
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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.
jr. member
Activity: 98
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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.
member
Activity: 378
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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.
legendary
Activity: 2702
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In short, trading platforms inject more strength "real money" into these currencies, just as in real markets.
Daily trading in these platforms affects the supply/demand and therefore affects the price significantly.
Perhaps the difference price between these platforms is one of the most important factors in the rise in the price of Bitcoin to 19000 dollars.
check ----> https://coinmarketcap.com/rankings/exchanges/reported/

For more read

1. Why bitcoin prices are different on each exchange
2. The factors that have the biggest impact on Bitcoin price
sr. member
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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?
Crypto currency becomes tradeable in the exchanges where we can convert our crypto currency into one from another or to fiat as well,it may not bring any benefit to the core of the crypto currency but it gives the user to use his crypto in most convenient way.But now most of the crypto currencies were ought for the purpose of buying and selling so if there is no exchanges then people may not get this much interest into crypto currency,so it actually helps in the growth of crypto market.
jr. member
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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?
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