Pages:
Author

Topic: What will happen to crypto exchanges in the future? - page 3. (Read 877 times)

legendary
Activity: 2590
Merit: 1022
Leading Crypto Sports Betting & Casino Platform
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.

You have a point since there are still people who want to exchange their coin for their fiat, but what I first understood was what if it is globally accepted, meaning all stores accept all types of coins, you can transact and pay using crypto and send money to, but still crypto is not our main currency it is still our paper money, so we still might need to exchange this in the future but can you imagine the future ahead of us like the possibility now is higher than five years ago in cryptocurrencies because stores are now accepting bitcoins as payments and countries they are getting legalize the bitcoins and as its legal tenders.

In addition to using exchanges to convert between fiat and cryptocurrency, exchanges also provide a lot of other services such as staking, trading, listing new projects...In the absence of an exchange, where would traders be able to make a profit?

Although we do not recommend storing your assets on exchanges, nowadays there are many people who take advantage of exchanges to make profits through the staking service that exchanges are providing. In general, exchanges have a lot of benefits that we need, not only to exchange fiat and crypto with each other.
hero member
Activity: 2702
Merit: 704
Bitcoin is GOD
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?
Tell me is it bitcoin the only coin that exist right now? Obviously not as we have more than 13k coins in the market at this moment, and it is very likely this number is going to keep growing during the next year.

And if that is the case even if we were to assume a future where bitcoin was accepted everywhere people will still want to trade back and forth between bitcoin and altcoins, then even in that future we will still need to have exchanges to facilitate this process.
hero member
Activity: 2366
Merit: 594
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.

You have a point since there are still people who want to exchange their coin for their fiat, but what I first understood was what if it is globally accepted, meaning all stores accept all types of coins, you can transact and pay using crypto and send money to, but still crypto is not our main currency it is still our paper money, so we still might need to exchange this in the future but can you imagine the future ahead of us like the possibility now is higher than five years ago in cryptocurrencies because stores are now accepting bitcoins as payments and countries they are getting legalize the bitcoins and as its legal tenders.
copper member
Activity: 2156
Merit: 983
Part of AOBT - English Translator to Indonesia
my thoughts will be crazy crypto exchange will be everywhere maybe there is 1 or 2 in one country and then when the government created CBDC maybe will be a lot more. and of course the decentralized exchange will be more complex then now. and crypto become part of everyday life since altcoin that have been developed be more complex as well
member
Activity: 84
Merit: 12
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?

Cryptocurrency exchanges will continue to exist even if bitcoin is globally accepted.  In order to exchange crypto to another crypto, we need exchanges. However, i hope the decentralized exchanges become more popular and give all the features that centralized exchanges possess.

The only thing which may close is the fiat currency banks. The paper notes and the banks which store them and deal with fiat money will not exist anymore.
I think paper money will still exist,
although someday it will be eliminated, but it will take quite a while.

plus people who don't agree with cryptocurrencies, it will be a big obstacle for crypto.
member
Activity: 84
Merit: 12
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 is, crypto always has its own way,
such as many who invest and as a means of payment,
both have similarities and differences,

because both can be used as a means of payment,

and digital money can be used directly to top up the crypto market,

so they both need and are always side by side.
hero member
Activity: 2758
Merit: 617
Leading Crypto Sports Betting & Casino Platform
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?

Cryptocurrency exchanges will continue to exist even if bitcoin is globally accepted.  In order to exchange crypto to another crypto, we need exchanges. However, i hope the decentralized exchanges become more popular and give all the features that centralized exchanges possess.

The only thing which may close is the fiat currency banks. The paper notes and the banks which store them and deal with fiat money will not exist anymore.
hero member
Activity: 2086
Merit: 553
Leading Crypto Sports Betting & Casino Platform
However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?
Crypto exchanges are for crypto coins/tokens, they are not for digital money.
Crypto exchanges have big roles in crypto world, people trade their coins or tokens there. Without exchanges, people will be difficult to trade their coins/tokens, so people will always need exchanges. So, no doubt that the exchanges will survive for a long time.

sr. member
Activity: 1372
Merit: 348
However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?

There is always a need for cryptocurrency exchanges.  Crypto creation will continue and crypto exchanges is the best place for new cryptocurrency project to market their coins.  Aside from that, we all know that currency/digital is globally accepted and yet there is this FOREX and its thriving.  Why?  Because there is a need for marketplace where people can buy and sell different currency, and profit from price volatility.


Exchanges may still exists in the future but a very few numbers of them just as some cryptocurrencies would have also cease from being existing later on, what one thing needed to be clarified here, are we talking about the centralized exchanges or the decentralized ones or both as a whole, exchanges need to survive as well but majorly on altcoins and they have the in-depth of how they trade to add up their own transaction interest along on users in form of fees.

I 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.
hero member
Activity: 1386
Merit: 731
Leading Crypto Sports Betting & Casino Platform
However, when digital money is globally accepted, would there still be a need for cryptocurrency exchanges? Any thoughts on this?
What do you mean by digital money? Is that some kind of CBDC that the government is planning?

I think that's what you probably mean by digital money. Basically anything that can be traded for profit then the market is needed. Even if it were a CBDC, I think local exchanges would adopt it as a trading pair for other crypto assets including bitcoin. Crypto exchanges are always needed and probably won't be bothered by the existence of a crypto-based government digital currency either.
hero member
Activity: 2730
Merit: 632
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?

The answer to your question is very obvious and simple. As long as it has to do with cryptocurrency, there will always be exchange. Just as the name implies, 'exchange' - sometimes, you might want to convert from one cryptocurrency to another. How can you achieve this without an exchange?

Regardless of whether digital currencies now been globally accepted, there is still need for an exchange.
Correct.
As long there's demand and as long there's people would be using it then it would be safe to say that they would be still existing on the future.These companies or platforms
would really not stop on making or offering services which would be provided into the community which it would be having relevance or giving out that convenience on where
the public do much prefer.

Even digital currencies do exist on the future but still not wont really be able to give out those services on where exchanges could able to do so.
This is why their existence would be still relevant.
hero member
Activity: 952
Merit: 555
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?
Exchanges will still exist, although more companies and businesses will accept crypto as digital money globally. And as long as people still want to profit from the price difference of the coins on the market, the exchange is still serving that demand because the exchange will also definitely benefit from every transaction. Maybe this will trigger more and more local exchanges in one country to make it easier for their citizens or foreigners who are there to exchange cryptocurrencies for fiat or even they can use crypto directly as a means of payment.

Exchanges may still exists in the future but a very few numbers of them just as some cryptocurrencies would have also cease from being existing later on, what one thing needed to be clarified here, are we talking about the centralized exchanges or the decentralized ones or both as a whole, exchanges need to survive as well but majorly on altcoins and they have the in-depth of how they trade to add up their own transaction interest along on users in form of fees.
member
Activity: 994
Merit: 14
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?

The answer to your question is very obvious and simple. As long as it has to do with cryptocurrency, there will always be exchange. Just as the name implies, 'exchange' - sometimes, you might want to convert from one cryptocurrency to another. How can you achieve this without an exchange?

Regardless of whether digital currencies now been globally accepted, there is still need for an exchange.
hero member
Activity: 966
Merit: 697
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?

The demand for more cryptocurrency exchanges will increase once bitcoin and other cryptocurrencies are widely accepted worldwide because the current ones will be inefficient and might cause traffic jams. This can be compared to fiat currencies, which are extensively utilized throughout the world; more banks have been established since fiat money first began to be used for transactions. It is almost unimaginable to even consider the idea that cryptocurrency exchanges won't exist if bitcoin is widely used worldwide.
legendary
Activity: 3164
Merit: 1127
Leading Crypto Sports Betting & Casino Platform
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 you will need exchanges, how are people going to day trade? day trading is a way to make money for many people, in addition to being good for the market, if there were no exchanges it would be difficult to price cryptocurrencies. exchanges are something that will be needed every day and even if years pass people will need exchanges, for example there are cases where people will need to buy bitcoin using bank accounts, so the person has to have an exchange account to buy bitcoin
sr. member
Activity: 1008
Merit: 366
Thanks all for your comments.
In this case which almost everyone thinks exchanges need to be there for the future, how about establishing one? What services do you think must be offered so customers would like to use the exchange?

For one thing that everyone wants it the security for their assets. If you can provide that then many will show positive vibe to join it. And one more important thing is that it has to be decentralized. Not your key, not your assets.

Low gas fee.
Best value.
and there are many other factor to keep an eye on. So do your research and you are good to go.

My advice is that find the problem from your own experience and try to fix them while you create one. Or try to improve what is already there.
sr. member
Activity: 1008
Merit: 366
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?
As the popularity of BTC increases with more and more people accepting it as a way of payments. I think there will always be some other cryptocurrency too. Being built on other blockchain and having a different purpose, i think you will need a source to be able to convert them and use them as BTC.
All though i am not sure what to come next in the future, but pretty sure it will take a long time for the exchanges to disappear.
full member
Activity: 406
Merit: 135
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?
Why there is no?
acceptance of crypto adoption as a means of payment will not be universal for all crypto assets. it will be more specific to certain assets like BTC, ETH, or USDT.
With a large market development, this will also trigger many new companies to develop projects. this has the potential to create a new crypto as we see it today.
to make it more valuable, of course, trading will be important to bring this market to life.
Trusted crypto exchanges will remain active to facilitate the community in crypto trading.
newbie
Activity: 17
Merit: 0
Thanks all for your comments.
In this case which almost everyone thinks exchanges need to be there for the future, how about establishing one? What services do you think must be offered so customers would like to use the exchange?

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?
hero member
Activity: 3094
Merit: 606
BTC to the MOON in 2019
Don't bother yourself to think about it OP but have to believe that exchanges remain important to us who live in the crypto world.
Just think about the vital role of this platform, then you'll gonna think that as long as crypto exists, this can be still here.

Despite the growing number of users all of these things remain - Buy, sell, or trade crypto
Not all are preferred for P2P transactions - so, therefore, having exchanges is still important to other crypto users.
Pages:
Jump to: