With Bitcoin gaining popularity and different businesses around the world accepting it as a means of payment, cryptocurrency exchanges will still be needed to make the whole process more accessible and easier to use. That is because a lot of people are still new to making transactions using digital currency and even if in the future, when everybody would be using it, the process would still need exchanges for them to trade their bitcoins into fiat (digital) currencies. The reason why is because it will always be useful for businesses and individuals to convert between the local fiat currency and their preferred cryptocurrency.
Topic: What will happen to crypto exchanges in the future? - page 4. (Read 877 times)
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'm a little confused, what does digital money have to do with cryptocurrency exchanges? Aren't crypto exchanges a market platform for buying and selling crypto and other activities? Just let digital money grow widely, now there have been also some digital money has started. As long as cryptocurrencies still exist, crypto exchanges will also exist. Because they are the bridge between the crypto world and the real world when cashing out money. And crypto exchanges also have many features where users can do trading activities, staking, and various other features that digital money platforms may not have.
Both digital money and cryptocurrencies are having different real use cases. Crypto exchanges are very important nowadays in which we could convert our crypto to fiat and vice versa, especially when it comes to P2P trading.
They're here to stay for a very long time. Of course, most likely the world would transition to digital money. But regardless, crypto exchanges plays a vital role in keeping us going in crypto to fiat conversion (even digital money).
They're here to stay for a very long time. Of course, most likely the world would transition to digital money. But regardless, crypto exchanges plays a vital role in keeping us going in crypto to fiat conversion (even digital money).
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. 
exchange will remain exchange mate , this will be the sanctuary of every crypto holders and investors as those who are accepting crypto as payments ? most of them might keep thefunds on hold so the circulation will remain limited and that will exchange takes place.
but we don't know what will completely happened when banks accepts crypto in their system.
I do not believe that people will give up fiat money in the near future. Many countries still do not accept bitcoins and are wary of them . Accordingly, exchanges for cryptocurrency exchange and conversion to electronic money will always be relevant.
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?
exchange will remain exchange mate , this will be the sanctuary of every crypto holders and investors as those who are accepting crypto as payments ? most of them might keep thefunds on hold so the circulation will remain limited and that will exchange takes place.but we don't know what will completely happened when banks accepts crypto in their system.
Just curious why OP think this way. Why do you believe we don't need exchange if cryptocurrency is accepted globally? Exchanges help Bitcoin and other cryptocurrencies to become popular. The main theme of the exchange is trading cryptocurrency. It would be p2p or against LP. We always need Exchanges to trade Bitcoin and other cryptocurrencies. How will a newbie buy Cryptocurrency if there is no exchange and how will you sell if you need cash? You can't exclude cash or fiat ever. Whether it's paper money or digital form.
The OP is just imagining what will happen to crypto exchanges in the future. Crypto exchanges will always be needed, because it is the same as when trading shares in the stock market. this is just a different platform only.The name of the exchange will certainly change from crypto to fiat currency easily and faster. and investment will also build the foundation of the economy, as price fluctuations in crypto provide several profit opportunities.
The future of crypto will certainly experience extraordinary changes, of course, because modern society is currently migrating to the virtual world and crypto becomes a suitable means of payment for the virtual era.
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?
Yes of course there will be a need for crypto exchanges in the future. There is a difference between people who are using crypto currencies for purchases, and people who use cryptos for investing. If you only use cryptos for purchasing goods online then you still need to get your hand on the cryptos in the first place if you have no crypto income. Same goes for the company that is being paid in cryptos, they will need to convert some of the crypto money back to their local fiat money to pay suppliers. Not all of the suppliers are also accepting cryptos, which means that the online shop is standing in between and needs to switch between multiple currencies. A crypto exchange is the best place for that, it's fast and cheap to exchange a large number of different coins. Without the exchange the trades could take a very long time as you always need to find a counterpart for your purchase or sale.
Just curious why OP think this way. Why do you believe we don't need exchange if cryptocurrency is accepted globally? Exchanges help Bitcoin and other cryptocurrencies to become popular. The main theme of the exchange is trading cryptocurrency. It would be p2p or against LP. We always need Exchanges to trade Bitcoin and other cryptocurrencies. How will a newbie buy Cryptocurrency if there is no exchange and how will you sell if you need cash? You can't exclude cash or fiat ever. Whether it's paper money or digital form.
In all scenario the need for cryptocurrency exchanges will be there. Even when cryptocurrencies were the only source available, we've got a big list of cryptocurrencies. People have difference of view over different altcoins. Atleast for the conversion purpose there is need for exchanges. We can assume a world without fiat, but the same in reality won't happen soon or in the later. 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 have a strong feeling that cryptocurrency exchanges will be heavily regulated to the point that it will become too restrictive for the average person to use.
Back in 2017, our local exchange (coins.ph) was very lenient when it comes to cashing-out and withdrawing our BTCs. Even if the origin of our BTCs came from a gambling establishment, they will not question such and they will let you convert them easily to our desired local currency.
Unfortunately, as of 2022, our local exchange has become too restrictive- they kept on asking KYC documents in order to verify the origin of our funds. In addition, they can also lock your account or restrict your withdrawing limits if they found out that your BTCs came from a gambling establishment, which is prohibited under their new and amended TOS.
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?
Yes, it would be still relevant.Why? We know that exchangers are platforms which do really make you do able to trade up in between cryptocurrencies plus when it comes to fiat conversions then you wouldstill touch up these services where you cant really be able to do in other place.When it comes to recognition and adoption in merchants then it would be basically be touching up on direct transactions.
We know that there are people who do trade up their assets or coins into different ones which they could really play out with volatility which you cant really be able to done physically
or into those casual buying transactions.Its a different set-up and integration imho.
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would there still be a need for cryptocurrency exchanges? Any thoughts on this?
There will always be the need for a cryptocurrency exchange now and after Bitcoin is accepted as global payment because the crypto trader will continue their trading route and there's to be high regulation of crypto and the only way I believe to escape this is through the use of no KYC exchange. Crypto worldwide adoption and the crypto payment world are 2different things but in the end, serve as the same purpose.
Just curious why OP think this way. Why do you believe we don't need exchange if cryptocurrency is accepted globally? Exchanges help Bitcoin and other cryptocurrencies to become popular. The main theme of the exchange is trading cryptocurrency. It would be p2p or against LP. We always need Exchanges to trade Bitcoin and other cryptocurrencies. How will a newbie buy Cryptocurrency if there is no exchange and how will you sell if you need cash? You can't exclude cash or fiat ever. Whether it's paper money or digital form.
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?
Here the thing is that we can't stop using fiat because not all the globe has internet, so, sites without internet access has fiat as their only option. And that's why fiat will never disappear. or at least it will take a long time for that to happen.
If people stop using fiat and only use cryptos, the exchanges will not disappear because people need to be able to do swap between their coins. I think that's the future of the exchanges until we find the way to swap coins direct in the blockchain.
Well forex never stopped, eToro never stopped, and neither thousands of private trading companies who have their own trading platforms through their exchanger so I am pretty sure not will bitcoin exchange will ever stop.
I am pointing out to the traditional platforms because physical fiat left the assembly long long ago when world started trading the commodities or metals or fuels against digital fiat currencies and yet being digital we still need to print the fiat and keep circulation in and out.
That’s the answer for you too just in a way for crypto space. Why would crypto exchanges stop if everything becomes just “more” digital than what we have right now.
I am pointing out to the traditional platforms because physical fiat left the assembly long long ago when world started trading the commodities or metals or fuels against digital fiat currencies and yet being digital we still need to print the fiat and keep circulation in and out.
That’s the answer for you too just in a way for crypto space. Why would crypto exchanges stop if everything becomes just “more” digital than what we have right now.
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's still a need for exchanges even if bitcoin is massively adopted already. In fact, that's giving confidence to people if there are exchanges because they can convert it into any time they want to into fiat and the same goes for fiat into crypto.Bitcoin is now considered a blue chip by many people and just as the typical stocks, the exchanges will be there and there's a need for them so that day to day trading can be sustained whether it is with P2P or not.
Bitcoin Exchanges were born because there was a demand for liquidity between Bitcoin and FIAT and back then the government and most of people thought Bitcoin was either a scam or virtual monopoly money to point and laugh at.
The private exchanges started because the governments refuse to provide decentralized assets with liquidity, because the concept of cryptocurrency goes against the centralized values they hold and have held for a long time.
If government ends up accepting Bitcoin and altcoins as medium of exchange and start to provide their own liquidity, then it would be a direct competition between the government and private entities, depending on the government this could lead to a take over of the local exchanges, a push to make private ones go out business or a failure of the government to compete.
In the end, if decentralized assets increase in adoption, governments would like to have the monopoly of the centralized liquidity, to try to control it even more.
The private exchanges started because the governments refuse to provide decentralized assets with liquidity, because the concept of cryptocurrency goes against the centralized values they hold and have held for a long time.
If government ends up accepting Bitcoin and altcoins as medium of exchange and start to provide their own liquidity, then it would be a direct competition between the government and private entities, depending on the government this could lead to a take over of the local exchanges, a push to make private ones go out business or a failure of the government to compete.
In the end, if decentralized assets increase in adoption, governments would like to have the monopoly of the centralized liquidity, to try to control it even more.
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 because traders will also remain. And for the reason that not all countries and their establishments are accepting Bitcoin, therefore, the use of exchanges is very important. Well, given the fact that the majority will use Bitcoin but never I see this will stop crypto exchanges. May some of them will stop, but those big and know exchanges, I was confident that they will continue in running this business as they know that many people are still in need of them.
We can see the importance of exchanges in this market, as it is where people can exchange their crypto to whatever they need, fiat or another crypto.
Even if there will be worldwide acceptance of crypto, still, we do need these exchanges for so many reasons.
Right now, we are not only using the trading platform to exchange currency but also to avail other financial services like earning interest.
Crypto exchanges serve like a bank for most crypto users. This is where they can easily put their money and see how it will work upon availing various financial options.
As long as cryptocurrencies exist, I believe, crypto-exchanges will also continue to exist.
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 believe that there will undoubtedly be crypto currency exchanges in the world of the future. The question is, what will it look like? I suppose that most likely, some exchanges will cease to exist, while others will change. For example, Binance is already developing in many directions and includes various functions, providing different services to its users. This is already a kind of multi-platform. Perhaps the largest exchanges will become something like this and will expand their areas of activity. In any case, those exchanges that will not adapt to changes in the world and to the demand of their users will simply cease to exist.There is a good chance that newly made projects which spend money to be listed in these low volume exchanges would be able to actually gone and then how would those new coins get listed? So it will definitely impact crypto a lot.
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