What will happen to crypto exchanges in the future? - page 2.

Tony116

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Quote from: Hamza2424 on November 05, 2022, 03:38:23 AM

If you are talking about centralized exchanges as Binance, coinbase, and all these top centralized exchanges then bro these exchanges are going to play an important role on the regulation of the crypto market. Still, after this halving, I am expecting a major crisis as MT GOX in history 2013 on that crisis these exchanges are going to be dead remember Binance is going to be the future reason for major crash after the coming Bull run. That crash will be one the major crash ever in history after 2012. So my dear friends the trend is going to change DEXs are going to replace CEXs. But these exchanges are important to for adoption on the local level after that these is no place for the word centralized haha.

It's just your opinion, you see there have been many centralized exchanges that have collapsed like Mt.gox but then what, there will be bigger exchanges and always will be. Binance is also likely to collapse but there will certainly be a larger exchange to replace it. Although, CEX is centralized but undeniably its important role in connecting people to the market, a popular market like today also has a huge contribution of CEX.
I disagree with storing too many assets on CEX because of the risk it brings but CEX is necessary for the market with the many services it provides.

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If you are talking about centralized exchanges as Binance, coinbase, and all these top centralized exchanges then bro these exchanges are going to play an important role on the regulation of the crypto market. Still, after this halving, I am expecting a major crisis as MT GOX in history 2013 on that crisis these exchanges are going to be dead remember Binance is going to be the future reason for major crash after the coming Bull run. That crash will be one the major crash ever in history after 2012. So my dear friends the trend is going to change DEXs are going to replace CEXs. But these exchanges are important to for adoption on the local level after that these is no place for the word centralized haha.

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Quote from: bitmit.exchange on October 31, 2022, 01:24:25 AM

Bitcoin is becoming more and more popular and applicable everyday and there are plenty of companies and businesses accepting it as a common type of payment. However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?

There is no logic that when digital money is introduced worldwide, Bitcoin or cryptocurrency usage will stop and no one can say that cryptocurrency usage will decrease or stop when digital money is introduced. So since the use of cryptocurrencies will be future days, I don't think cryptocurrency exchanges will be shut down in the future when digital money becomes popular. And since everyone trades through cryptocurrency exchanges and many use trading as a source of income, so , the use of exchanges will always remain.

edelynwalker

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Cryptocurrencies are still in their early days and there is no telling what the future holds for them. Some believe that they will eventually become mainstream, while others think they will simply disappear. It's hard to say exactly what will happen to crypto exchanges in the future, but we can make some educated guesses.Some believe that exchanges will become more regulated, which could mean feweroptions for users. Others think that exchanges will simply merge with each other, becoming larger and more powerful.It's hard to know for sure, but one thing is for certain: The future of crypto exchanges is still up in the air.

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Quote from: stomachgrowls on November 03, 2022, 03:24:27 PM

We dont need lots of exchanges yet the current ones existing are sufficient enough to give out that service and utility which we could make use which it is really understandable that these platforms would go play along

Even with the little ones present, alot of members find it difficult to confide trust in using centralized exchanges, they are not reliable at any cost, this does not change anything from whom they were and no matter the said and done about them, people will not still change their minds and determination towards them.

Quote from: stomachgrowls on November 03, 2022, 03:24:27 PM

with government rules and this is via regulation which isnt really surprising.Its true that we've been flooded out by lots of crypto projects in the market but only a few of them do able to make it through on getting recognition.

Only exchanges of thier kinds and bounty hunter newbies will seek for their services, no one on a normal ground will want anything associated with centralized exchanges if he truly understand what's at stake in using them

Quote from: stomachgrowls on November 03, 2022, 03:24:27 PM

Speaking about digital currency then it would be standard and they would both co-exist.

They may both exist but after which everyone has lost interest in them and by that time, the few newbies fill be their preys who don't know what to do next.

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Of course yes, because how can we obtain crypto? Although yes you can obtain it in so many ways without using an exchange like doing faucets, working, mining, p2p, etc but they are hassle and risky. Not only for obtaining a crypto but we can also use the exchange whenever we want to exchange our coins for another type of coin/crypto or convert it to our local fiat currency.

Many exchanges now have a support for that. In conclusion, many people are still going to prefer this because crypto may not be a legal tender on their country or they simply don't want to use their crypto like a currency but they treat it like an asset to earn more money.

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Quote from: _BlackStar on November 03, 2022, 03:23:55 PM

Then why doesn't the government want to legalize bitcoin as a legal tender if you don't think fiat will compete with bitcoin in its use case?

Bitcoin has attracted lot of people's attention for the convenience and innovation it brings as means of payment. I think bitcoin is good to payment alternative which is currently still dominated by fiat, but the better the development, the more users are willing to use it as means of payment.

Because they are too afraid of bitcoin developing and cannot be controlled like fiat, but for me bitcoin is not a competitor to fiat, because bitcoin was not created to replace it, bitcoin is an alternative to fiat and the two are clearly different.
Yes, it is true, but not many countries are adopting bitcoin as a means of payment, although it is true that fiat's dominance will diminish as bitcoin grows.

Quote from: _BlackStar on November 03, 2022, 03:23:55 PM

What bullshit are you talking about, do crypto exchanges nowadays support fiat less often than just crypto? Centralized crypto exchanges especially locally based will support fiat to make it easier for users to make deposits to exchanges, this is what most local exchanges do. Despite all that, crypto exchanges will still exist and will also continue to grow over time. The government at all costs will only centralize it for its own benefit, so say something true.

It seems you misunderstood, I mean the case of fiat and crypto users around the world, isn't fiat money much bigger users now and I never said crypto doesn't support fiat.
I also found out for myself that local exchanges continue to support fiat in terms of deposits and withdrawals, in this case I agree there is a correlation, but in terms of the number of fiat users it is still dominant at this time

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Quote from: bitmit.exchange on October 31, 2022, 01:24:25 AM

Bitcoin is becoming more and more popular and applicable everyday and there are plenty of companies and businesses accepting it as a common type of payment. However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?

We have a lot of fiat exchanges in every corner of every city, somehow this doesn't put anyone out of business. The same could be supposed in the case of cryptocurrency. Multiple exchanges just means more choices to choose from, and competition brewing from each of these exchanges trying to one-up the other could just be beneficial to its customers as they could find new ways to make it to the top. Also, digital money is way different from crypto, both will have their proprietary exchanges in the future I presume. crypto has their dexes now, digital money could have its own in the future.

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I consider myself to be a capitalism absolutist within the context of currencies, whether it be fiat or crypto -- I think exchanges have their place. It's my hope that people don't rely on them or need them, but I'm not an advocate of forcing other crypto currencies to cease operations through anything other than consumer choice and market forces. So unless some governmental agency comes in and stops them (I don't see fiat phasing out entirely any time soon either) it's entirely probable that exchanges will exist and continue to operate as they have been.

With how the fees are, one could anticipate more P2P currency exchanges rather than going through an intermediary once crypto becomes more popular than it already is. That might reduce people's dependency on them.

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Quote from: kryptqnick on November 03, 2022, 06:30:29 AM

Quote from: bitmit.exchange on October 31, 2022, 01:24:25 AM

Bitcoin is becoming more and more popular and applicable everyday and there are plenty of companies and businesses accepting it as a common type of payment. However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?

I think we already have plenty of crypto exchanges, and they have trading pairs with stablecoins and often with fiat as well. In fact, I believe we have more crypto exchanges than the current level of adoption of Bitcoin as payment calls for. However, exchanges are very convenient not only for trading but for switching from one coin to another, so exchanges are needed, and I think the demand for them will remain. If the op is referring to CBDCs by 'digital money', then it should be said that they aren't a big thing yet, and that when they become a big thing, I see no reason for them not to be on exchanges.

The amount of exchanges is a lot, but there are only a few that is used a lot, the rest are not really used as much and combined do not make up for the top 3. This means that there are just a few big ones, and if we look at how they could do in the future, we could literally see them bought out by a bigger company as a whole, and then they would be able to continue profiting for that bigger company instead.

Look at how banks are approaching these exchanges, if banks are ever allowed to be crypto exchanges with regulations, they could just straight up get together and buy out binance and that would be very bad because banks are the reason why I ran away from fiat.

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Quote from: Argoo on November 03, 2022, 02:57:31 PM

Quote from: Dunamisx on November 03, 2022, 09:28:32 AM

Quote from: BitDane on November 02, 2022, 05:28:24 PM

do not think there will be only a few cryptocurrency in the future. It is impossible because the creation of new cryptocurrency won't cease to exist.

Why not let's consider it this way, the more they keep introducing new cryptocurrencies the more the old ones were been dumped and with time people will definitely know to understand the difference between altcoins and bitcoin, exchanges could have been in lost through this when customers no longer confide trust in the coins they promote, we have some exchanges as well that were no where to be found today but what i will advise is for all bitcoiners to learn to be decentralized, centralized exchanges are note a joke when it comes to being hacked, data leakage, or running down completely.

Now there are more than 21,000 different cryptocurrencies in the cryptocurrency market. But this does not mean at all that even half of them work in this market. Actually working, probably no more than 20 percent. Cryptocurrency continues to develop and the most worthy and useful ones will remain on the market. This process will continue for a long time.
As for crypto-exchanges, not only will they not disappear, but on the contrary, they will grow both quantitatively and qualitatively. If the cryptocurrency market develops, then crypto exchanges will also develop.

We dont need lots of exchanges yet the current ones existing are sufficient enough to give out that service and utility which we could make use which it is really understandable that these platforms would go play along

with government rules and this is via regulation which isnt really surprising.Its true that we've been flooded out by lots of crypto projects in the market but only a few of them do able to make it through on getting
recognition.Speaking about digital currency then it would be standard and they would both co-exist.

It just turns out that we are aware that there are different usage into those things which are intended for everyday living transactions compared into those coins which are holding of investment purposes.

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Quote from: Fara Chan on November 03, 2022, 05:29:53 AM

If indeed you mean CBDC, then an exchange will also be needed, but what needs to be understood is that fiat currency is not a competitor to bitcoin, which is used for investment and alternative assets.

Then why doesn't the government want to legalize bitcoin as a legal tender if you don't think fiat will compete with bitcoin in its use case?

Bitcoin has attracted lot of people's attention for the convenience and innovation it brings as means of payment. I think bitcoin is good to payment alternative which is currently still dominated by fiat, but the better the development, the more users are willing to use it as means of payment.

Quote from: Fara Chan on November 03, 2022, 05:29:53 AM

For me there is no correlation between fiat currency and especially crypto exchanges, because nowadays many people use fiat currency, while exchanges still not as much as fiat currency users.

What bullshit are you talking about, do crypto exchanges nowadays support fiat less often than just crypto? Centralized crypto exchanges especially locally based will support fiat to make it easier for users to make deposits to exchanges, this is what most local exchanges do. Despite all that, crypto exchanges will still exist and will also continue to grow over time. The government at all costs will only centralize it for its own benefit, so say something true.

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Quote from: Dunamisx on November 03, 2022, 09:28:32 AM

Quote from: BitDane on November 02, 2022, 05:28:24 PM

do not think there will be only a few cryptocurrency in the future. It is impossible because the creation of new cryptocurrency won't cease to exist.

Why not let's consider it this way, the more they keep introducing new cryptocurrencies the more the old ones were been dumped and with time people will definitely know to understand the difference between altcoins and bitcoin, exchanges could have been in lost through this when customers no longer confide trust in the coins they promote, we have some exchanges as well that were no where to be found today but what i will advise is for all bitcoiners to learn to be decentralized, centralized exchanges are note a joke when it comes to being hacked, data leakage, or running down completely.

Now there are more than 21,000 different cryptocurrencies in the cryptocurrency market. But this does not mean at all that even half of them work in this market. Actually working, probably no more than 20 percent. Cryptocurrency continues to develop and the most worthy and useful ones will remain on the market. This process will continue for a long time.
As for crypto-exchanges, not only will they not disappear, but on the contrary, they will grow both quantitatively and qualitatively. If the cryptocurrency market develops, then crypto exchanges will also develop.

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Quote from: Dunamisx on November 03, 2022, 09:28:32 AM

Quote from: BitDane on November 02, 2022, 05:28:24 PM

do not think there will be only a few cryptocurrency in the future. It is impossible because the creation of new cryptocurrency won't cease to exist.

Why not let's consider it this way, the more they keep introducing new cryptocurrencies the more the old ones were been dumped and with time people will definitely know to understand the difference between altcoins and bitcoin, exchanges could have been in lost through this when customers no longer confide trust in the coins they promote, we have some exchanges as well that were no where to be found today but what i will advise is for all bitcoiners to learn to be decentralized, centralized exchanges are note a joke when it comes to being hacked, data leakage, or running down completely.

So are you saying Altcoin like BNB, ETH, Polygon, Solana, and other established cryptocurrency will cease to exist? I don't think so. Its been more than a decade and yet exchanges even though centralized gathers more people than p2p, since the main issue with p2p is trust between two people. Even though centralized exchanges are hacked, or have data leaked, people prefer to trade in centralized exchanges than do p2por trust unknown people. Remember in p2p, someone needs to release first unless there is an escrow in between which defeats the purpose of p2p.

Crypto exchanges will continue to exist and flourish as worldwide adoption of cryptocurrency happens.

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Quote from: bitmit.exchange on October 31, 2022, 01:24:25 AM

Bitcoin is becoming more and more popular and applicable everyday and there are plenty of companies and businesses accepting it as a common type of payment. However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?

Of course there will be need for platforms to exchange digital money and crypto, assuming you mean platform to exchange currencies with people rather than the typical "trading" platforms.
I expect Decentralized/p2p platforms to be the desired means to exchange decentralized currencies like Bitcoin. It keeps the currencies from getting centralized and losing the purpose they were invented .
It's important to build decentralized platforms that are fast, feature-rich (with feature like escrow) and convenient as centralized versions to make this a possibility.

Dunamisx

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Quote from: BitDane on November 02, 2022, 05:28:24 PM

do not think there will be only a few cryptocurrency in the future. It is impossible because the creation of new cryptocurrency won't cease to exist.

Why not let's consider it this way, the more they keep introducing new cryptocurrencies the more the old ones were been dumped and with time people will definitely know to understand the difference between altcoins and bitcoin, exchanges could have been in lost through this when customers no longer confide trust in the coins they promote, we have some exchanges as well that were no where to be found today but what i will advise is for all bitcoiners to learn to be decentralized, centralized exchanges are note a joke when it comes to being hacked, data leakage, or running down completely.

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Quote from: bitmit.exchange on October 31, 2022, 01:24:25 AM

Bitcoin is becoming more and more popular and applicable everyday and there are plenty of companies and businesses accepting it as a common type of payment. However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?

I think we already have plenty of crypto exchanges, and they have trading pairs with stablecoins and often with fiat as well. In fact, I believe we have more crypto exchanges than the current level of adoption of Bitcoin as payment calls for. However, exchanges are very convenient not only for trading but for switching from one coin to another, so exchanges are needed, and I think the demand for them will remain. If the op is referring to CBDCs by 'digital money', then it should be said that they aren't a big thing yet, and that when they become a big thing, I see no reason for them not to be on exchanges.

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People tend to use centralized crypto exchanges only for one reason: convenience.

Its easier to use a platform where you can exchange your fiat for crypto and then hold that crypto on their third party wallet, even though everyone here would recommend you never do that. And its easier to trade your crypto for other crypto on said third party platform.

Its just the way people are. Lazy.

You could easily do the same but in more complicated ways like via P2P and decentralized exchanges. But again, laziness or ignorance wins out in newbies.

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Quote from: bitmit.exchange on October 31, 2022, 01:24:25 AM

Bitcoin is becoming more and more popular and applicable everyday and there are plenty of companies and businesses accepting it as a common type of payment. However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?

If indeed you mean CBDC, then an exchange will also be needed, but what needs to be understood is that fiat currency is not a competitor to bitcoin, which is used for investment and alternative assets. For me there is no correlation between fiat currency and especially crypto exchanges, because nowadays many people use fiat currency, while exchanges still not as much as fiat currency users. Although currently developments have shown a positive trend towards crypto and Bitcoin in particular

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Quote from: bitmit.exchange on October 31, 2022, 01:24:25 AM

Bitcoin is becoming more and more popular and applicable everyday and there are plenty of companies and businesses accepting it as a common type of payment. However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?

we still need an exchange, just look today at how fiat money exchange still exists. we don't know what country accepting crypto in the future, maybe they another crypto like ETH or BNB, who knows?, because crypto is global can be accepted in another country. so when happen, we need to exchange it if visit to that country.

when Crypto exchanges can be used everywhere, it doesn't mean that Fiat currency exchanges will disappear, of course it will run concurrently. Crypto exchange is only to facilitate transactions.
and for now, of course, Bitcoin is still the gain even though there are some Altcoins that have good potential to become exchanges but they still haven't beaten Bitcoin.

because Crypto is global which does not distinguish between countries which makes it very profitable for many users to be able to exchange it for any currency and in any country and that is a big function and advantage if in the future Crypto exchange occurs.

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