It is the Exchanges that made buying and selling easier. It is the place that also contribute to the growth of bitcoin. If there is no exchange, it'll be used for transactions and the growth could've never been this high.
It is the pathway through which people were able to learn about trading. During those days, exchanges were prone to hacks. Those incidents serve to be a way of market manipulation. These days exchanges are highly secure. Initially exchanges came into existence for bitcoin. Now every exchange itself have its own blockchain and cryptocurrency. The importance keeps counting.
Topic: How important are exchanges? - page 11. (Read 2581 times)
But you still trusted a third party to hold your money for you.
It's not that you give up custody for a while. I might not trust Binance for keeping their business operating forever, or I might not trust their competence when it comes to security over the long run, but I'm confident trusting them for a few minutes to keep my money. That should be the least of your worries. The worst part is that you'll be asked to provide a ton of KYC. Phone number, home address, first and last name, email, bank statements, selfies. Of that kind of personal stuff, no; I don't trust them the slightest. Then, you have the "taint analysis", which is against the fundamentals of bitcoin. 
Exchanges are generally very important in a market. But since the Bitcoin market is more complicated than others, let's draw a line between centralized exchanges (CEX) and decentralized exchanges (DEX). Whether CEX or DEX, exchanges are needed to trade national currencies and cryptocurrencies.
CEX are important, given that the user doesn't value himself, and trusts some CEO more than he trusts himself. In that case, he should choose a CEX.
DEX are important, because they're exchanges with no intermediaries, via the internet. People who might hate each other can exchange cryptocurrencies for cryptocurrencies with zero trust, and their national currencies for cryptocurrencies with minimum trust.
Sometimes, the former might attract more users due to lower fees as well.
CEX are important, given that the user doesn't value himself, and trusts some CEO more than he trusts himself. In that case, he should choose a CEX.
DEX are important, because they're exchanges with no intermediaries, via the internet. People who might hate each other can exchange cryptocurrencies for cryptocurrencies with zero trust, and their national currencies for cryptocurrencies with minimum trust.
Sometimes, the former might attract more users due to lower fees as well.
I completely agree.
Simply put, I believe that exchanges are very important for the role of adoption. One way or another everyone has an option of how securely they want to buy their Bitcoin. We have the people who want an easy user experience so they go for exchanges. That makes sense and is one of the cheapest alternatives (unless you plan on withdrawing to a different wallet in which case you will pay a small fee). But you still trusted a third party to hold your money for you.
People who distrust those third parties (as they should) can buy Bitcoin without having to go to an exchange. P2P and cash are always options.
But like 99% of people don't seem to care about that, even though they support a decentralized concept like Bitcoin.
Yes, exchanges are a very important factor for adopters to have access to bitcoin and cryptocurrencies in general. Without them, most people couldn't invest in bitcoin, because they don't have other adopters around them to trade person to person. Exchanges also guarantee a protection for investors when dealing with crypto, as by operating at a legit platform you won't be scammed when selling or buying crypto. The history of your negotiations is stored there and you have access to real time market prices. On the other hand, when you trade person to person with strangers you are under risk of not receiving your money or being exploited by them, that is, when they don't pay the fair price for your coins or don't respect the real time quotation of bitcoin price. Exchanges are a great didactic introduction to crypto universe, without any doubts.
Exvhat are among one of the key sources that provides access to Bitcoin in the space. Exchanges provide the security and reduce the level of scams coins in the market. There are coins that served the purpose of glitch in the market and are mostly use by scammers, inother to collect and liquidate traders account. Some coins are actually listed on coin market cap but they are scam tokens which needs to be get ridoff. Exchanges provide Bitcoin for users to buy with ease without fear or doubt of been scammed, like the offline buying and selling which is very insecure and highly place risky is not considerable for traders. 
Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?
Yes, exchanges are a very important factor for adopters to have access to bitcoin and cryptocurrencies in general. Without them, most people couldn't invest in bitcoin, because they don't have other adopters around them to trade person to person. Exchanges also guarantee a protection for investors when dealing with crypto, as by operating at a legit platform you won't be scammed when selling or buying crypto. The history of your negotiations is stored there and you have access to real time market prices. On the other hand, when you trade person to person with strangers you are under risk of not receiving your money or being exploited by them, that is, when they don't pay the fair price for your coins or don't respect the real time quotation of bitcoin price. Exchanges are a great didactic introduction to crypto universe, without any doubts. 
Exchanges, companies that provide online wallets, payment systems like BitPay all facilitate the popularity and accessibility of Bitcoins, IMO. Some services are centralized, some aren't. Some are companies that actually store your coins, others just make the wallets or build a platform, but you are the real holder of the funds. I am not a decentralization maximalist. If a service is good, it has high reputation, and it is very useful, I don't mind that it's centralized. Even if there's a way to stay fully anonymous and use a decentralized service, but it's much easier to just use a centralized one and give some of the privacy away, I'd go for the centralized one. In the end, I think that a variety of services should exist, so that people can choose and decide for themselves.
Exchanges are generally very important in a market. But since the Bitcoin market is more complicated than others, let's draw a line between centralized exchanges (CEX) and decentralized exchanges (DEX). Whether CEX or DEX, exchanges are needed to trade national currencies and cryptocurrencies.
CEX are important, given that the user doesn't value himself, and trusts some CEO more than he trusts himself. In that case, he should choose a CEX.
DEX are important, because they're exchanges with no intermediaries, via the internet. People who might hate each other can exchange cryptocurrencies for cryptocurrencies with zero trust, and their national currencies for cryptocurrencies with minimum trust.
Sometimes, the former might attract more users due to lower fees as well.
CEX are important, given that the user doesn't value himself, and trusts some CEO more than he trusts himself. In that case, he should choose a CEX.
DEX are important, because they're exchanges with no intermediaries, via the internet. People who might hate each other can exchange cryptocurrencies for cryptocurrencies with zero trust, and their national currencies for cryptocurrencies with minimum trust.
Sometimes, the former might attract more users due to lower fees as well.
@OP majority of crypto lovers can't have access to any of their favorite coins without the existence of exchange. I remember back in 2016 when there were basically very few exchange how i struggle to buy btc back then, it was not easy and also the risk of falling into the hands of scammers was high, but with the emergence of lots of centralize and decentralized exchanges, buying any crypto has been made easy. so i say exchanges are very important.
Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?
The majority of Bitcoin transactions currently are executed through centralized exchange platforms. They make Bitcoin transactions so organized and attractive that people prefer to use them. They sometimes make trade or exchange transactions very easy and they can easily be used for business transactions. Regardless of the disadvantages of these exchanges, there are some persons that would always prefer their services to decentralized platforms.
These platforms spend millions of dollars on advertisement and promotion of cryptocurrencies. Most P2P providers don't have the kind of money these exchange firms have, hence they are not able to promote Bitcoin extensively. Some of these exchanges also lobby governments of nations to pave way for Bitcoin acceptance and operations.
Therefore, it would not be wrong to state that these exchanges are really key players in facilitating the popularity of Bitcoin. Although exchanges might not be the ideal means of engaging in Bitcoin operations they are also spreading the good news about Bitcoin
It is not at all questionable that we need crypto exchanges, but the problem is that some users consider them to be some kind of crypto banks, and that the security model is the same as in ordinary banks. Exchanges are for trading, not for long-term storage, which has been proven many times so far, especially in the case of Mt.Gox or Quadriga. The former are still waiting for partial compensation, and in the case of Mr. Cotten's story says that he literally spent a good part of the funds on bad investments, and part of it allegedly went to the grave with him.
The whole idea around Bitcoin is decentralization, and the fact that the largest CEXs have millions of Bitcoins in their possession is not something we should look forward to.
The whole idea around Bitcoin is decentralization, and the fact that the largest CEXs have millions of Bitcoins in their possession is not something we should look forward to.
Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?
Exchanges are not a barrier to people knowing bitcoin but they serve as a causative agent against people investing with bitcoin for altcoins, they fight inbthe interest to bring many into investing on other currencies after using bitcoin as a cover for attraction, except for those who has the intention of investing in bitcoin right from start will not be canvas to altcoins dince exchanges are not theirajor harvest through which they got to know about bitcoin, we need to be careful because this exchanges have a kind of way they package other cryptocurrencies so they can sell and make their own profits.
Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges is among the factors facilitating the popularity and accessibility that people have to bitcoins?
Am curious to know the ways Bitcoin can exist firmly without exchange in both the centralized and decentralized exchanges even p2p is also a means of exchange, so in general, the exchange is an integral part of Bitcoin.So the exchange is as important as miners who work to confirm the transaction in the blockchain likewise exchange is the crypto marketplace where buying and selling of various cryptocurrencies take place.
Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?
The existence of Bitcoin depends mainly on its network, its hashrates, full nodes. They are core factors for the survival and existence of Bitcoin. Exchanges are only one of ways people use their Bitcoin, for trading, for profit taking, for gambling with leverage and future trading.Fortunately, you should know Bitcoin has so many use cases and we can use it at merchants, stores that accept Bitcoin. We don't must bind to use exchanges that are not unique places to use our bitcoins.
Bitcoin is a peer-to-peer electronic cash and we can trade it peer-to-peer, not have to rely on exchanges. You can use Bitcoin to buy pizza, cake, honey pot, etc. and you can use it to bet on casinos too. A lot more use cases for Bitcoin like donation, charity and more. It its network is running, you can use your Bitcoin.
I agree that exchanges give trading volume and the higher trading volume is, the more comfortable people feel and be ready to join the party.
To me, exchanges are very important and they are among what makes crypto as popular as it is today. The first time I hear and come across crypto was through Binance ads I registered from there and gain more knowledge from different places.
When it comes to newbies like me in this crypto space, exchanges are very important and essential because they are the only means by which I find it safe and trustworthy to buy any crypto with my fiat. There are also a lot of people out there who their way into crypto from exchanges starting from when someone tells them about a particular coin that they believe will change their financial status overnight, which doesn't happen that way, from there they get access to any exchange have small knowledge and then introduce others into it.
Crypto exchanges both cex and dex are playing a vital role in the promotion and mass adaption of crypto, which I know they are doing for the sake of profit-making but at the same time, they are bringing more people into the crypto world.
When it comes to newbies like me in this crypto space, exchanges are very important and essential because they are the only means by which I find it safe and trustworthy to buy any crypto with my fiat. There are also a lot of people out there who their way into crypto from exchanges starting from when someone tells them about a particular coin that they believe will change their financial status overnight, which doesn't happen that way, from there they get access to any exchange have small knowledge and then introduce others into it.
Crypto exchanges both cex and dex are playing a vital role in the promotion and mass adaption of crypto, which I know they are doing for the sake of profit-making but at the same time, they are bringing more people into the crypto world.
Since bitcoin is still far from achieving its goal of being a widely and freely accepted means of payment, then yes (personally speaking) exchanges are important for the time being. We've been screaming for years about decentralization, privacy, not your keys not your coins and so on. But the fact is that people prefer bitcoin volatility and pursue it even at the expense of more vitality.
clearly bitcoin needs an exchange, especially the CEX exchange is very important to create trading volume as well as facilitating investors or traders to buy and sell bitcoin of course, also delivering miners who sell their bitcoins to investors so that bitcoin circulation continues to circulate to the public and with the exchange that is the beginning of popularity bitcoin started until today
I don't actually think it's down to exchanges that means crypto adoption has happened that much. If everything was peer to peer it'd still function much the same way and probably a similar safety.
I think it depends. Sometimes exchanges are not important , like here in this forum p2p is ok. But sometimes they are important.
A few years ago, in 2017 when I joined the crypto space, it was very hard to buy bitcoin in Brazil, even in exchanges.
Peer to peer was nearly impossible: price was much higher, not the same security, lots of scammers...
I believe exchanges were important and they still are. Many implementations such as ATM exists due to partnerships with exchanges because they provide the necessary volume for those services to operate.
Both centralised exchanges and decentralised ones have helped with access in some ways but I think their scope is quite limited (especially for cexes).
I don't actually think it's down to exchanges that means crypto adoption has happened that much. If everything was peer to peer it'd still function much the same way and probably a similar safety.
There's likely been a lot of scam exchanges that have done worse for the space and the lack of adoption by larger and more traditional companies - as well as some banks banning companies like coinbase which have done well to hinder adoption.
I'd say faucets in the time when I joined provided a much better onramp to cryptocurrency than exchanges did (especially for learning how things work).
I don't actually think it's down to exchanges that means crypto adoption has happened that much. If everything was peer to peer it'd still function much the same way and probably a similar safety.
There's likely been a lot of scam exchanges that have done worse for the space and the lack of adoption by larger and more traditional companies - as well as some banks banning companies like coinbase which have done well to hinder adoption.
I'd say faucets in the time when I joined provided a much better onramp to cryptocurrency than exchanges did (especially for learning how things work).
Bitcoins can exist without exchanges, but would you support the argument that the existence of exchanges are among the factors facilitating the popularity and accessibility that people have to bitcoins?
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