Prospective retailer

[darewaller]

Sure that is very possible, it is nothing new at all, because I already know a lot of people that are doing this kind of business. They act as local exchangers and they buy bitcoin from people and also sell bitcoin to them when they want to sell.

I totally understand how the business works: if they are buying from you, they can say that they are $1 at $0.85, and that way when they are selling, if they decide to sell $1 for $1, they will be having a profit of $0.15, which is really cool, because when they have lots of customers and start buying and selling huge amounts in a day, the little profits will turn out to be huge amounts. Imagine they sell $1000 with of bitcoin, they will making up to $150, and $10,000 worth will be getting them a profit of up to $1500, and so on. So, it’s a really good business for anyone to do.

[Fortify]

Crypto has opened up lots of self employment option to our present society ranging from investment to trading even down to staking and all this are made possible by both centralized and decentralized exchanges providing services through licensed procedure to ensure a secured transaction either through peer-to-peer or a completely centralized procedure

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an  untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

It's funny you mention investment, trading and staking as the wonderous things that Bitcoin has supposedly opened up. They are in fact a very narrow range of activities all related to financial speculation. They were also all possible before crypto came along. However the rise of platforms like Binance where anyone, even people in countries with more restrictive regulations, can trade currencies back and forth is a bonus I guess. Those activities are not actually creating anything substantial for society however, unlike say a manufacturer or house builder. To answer your question about retail vendors, of course allowing cryptocurrency as a payment could open up the possibility of new customers - they're all asking themselves whether it is worth the price of the financial infrastructure and possible legalities that come with it.

[karanggatak]

Crypto has opened up lots of self employment option to our present society ranging from investment to trading even down to staking and all this are made possible by both centralized and decentralized exchanges providing services through licensed procedure to ensure a secured transaction either through peer-to-peer or a completely centralized procedure

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an  untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

making new business give you profit as long as you can manage it well. not only fund, but also good work needed to improve that business.
need time to reach maximum trust level, you cant take big hit from the start, need many event to attract more people joining this idea.
you can create many thing from crypto, the problem is where you point at? just for crypto user or all people. its hard to point society, but it can be good project if you keep calm about the process.

[Darker45]

What do you exactly mean by a retail vendor? That you will buy, say, Bitcoin in bulk and then sell them in smaller amounts for a certain amount of premium? Anyway, this is clearly not a passive income. This is unlike earning annual yield from staking or receiving dividends from investments.

By the way, when you say we still need more exchanges, it should be qualified. Apparently, we already have so many exchanges, only that they are centralized. What we need are truly decentralized exchanges. And also, it's not the exchanges that give crypto more boost. Without any practical function and utility, cryptocurrencies will remain to be merely speculative coins.  

[michellee]

I do not want to become a retail vendor right now and still like to search for my profit through trading as I see the potential to make a big profit from trading is bigger. If I want to become a retail vendor, I need to have a big budget to start and I am lacking that budget right now so that is why I decided to still trade and make more money. Besides that, in the retail business, not many of them know about crypto and need more socialization about crypto so they can understand what purposes to use crypto for their business. Maybe someday after crypto become globally and many retail vendors start to implement crypto to their business, we will see the use of crypto among them.

[Ucy]

First of all, it's actually not a good idea to have centralized exchanges. They should be striving to be decentralized otherwise they and possibly the users will learn the hard way in the future. The centralized model is not sustainable, or better still it can lead to centralization of a cryptocurrency if you allow them to grow out of control. We should have more independent businesses on a true cryptocurrency network. Besides, the features of centralization contradict what true cryptocurrency stands for and could be used against the cryptocurrency.

Better to have retail vendors transact in p2p/decentralized manner. It's a unique system that should be encouraged/built otherwise you can't be free from the old system.  In my opinion, the purpose of licenses is to keep businesses moral. Once you keep things in order you should qualify for a license that probably could be issued in decentralized manner.  If they require kyc in order to issue license, use decentralized identity scheme instead... same as other things that are required from businesses in order to qualify for licenses

[Lucius]

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an  untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

I don’t see how cryptocurrency trading could be considered legal while at the same time avoiding regulation by governments? If you were to imagine a scenario in which there is no CEX, only DEX - how many people do you think would trade Bitcoin today, and how many people would know it even exists?

Lest anyone misunderstand, I understand that decentralization is very important, and that it is bad that CEX holds such large amounts of BTC in its possession - but since most people have never accepted (or realized) how important it is to be their own bank, consciously we agreed to go in a direction we might not have needed to go.

As for the number of crypto exchanges, I think there are more than there should be, and it should be regulated who can start such a business. Too many people have seen an opportunity to get rich that way, and in many cases this results in hacking and losing clients ’funds, or with an exit scam.