How important are exchanges?

[Riodarvg]

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 play an important role in the encryption field. Its existence makes it easier to buy and sell cryptocurrencies, promotes more investors or traders to buy and sell bitcoins, increases people's demand and popularity for bitcoins, and expands market.
It can also help certain currencies gain popularity. Many investors will choose potential currency investments based on transaction volume.

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[Thomas Kralow]

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 popularity of Bitcoin has a lot to do with centralized exchanges. Centralized exchanges do not need to understand the operating principles of Bitcoin, white papers, smart contracts and codes. The reason why I say this is that the first reason is that everyone gets in touch with Bitcoin, and the most important thing is that everyone says that trading Bitcoin can make a lot of money. The threshold of the second centralized exchange is relatively low, easy to operate, similar to the stock market, and it will never stop. The third reason is that their wish of getting rich overnight can be realized here. To sum up: Bitcoin is becoming more and more popular, and more and more people know about it.

[noormcs5]

Definitely, exchanges have something to do with the popularity of bitcoin. Therefore, it cannot be said that exchanges do not affect the popularity of bitcoin in any way. There are many different advertisements of the exchange platforms themselves. And those who learn about the exchange through this advertisement will then learn about such a concept as cryptocurrency, and, accordingly, learn about bitcoin itself. Exchanges definitely affect the popularity of bitcoin!!

That's precisely what's going on, although bitcoin can also exist without an exchange but the popularity of bitcoin and the development of bitcoin today has a huge contribution from exchanges. It is a bridge between investors and the market, without an exchange, we would have a lot of trouble accessing bitcoin by fiat. The crash of the FTX exchange makes us feel unsafe using it, but it will be difficult for us to stop using it completely.

Of course! Therefore, I believe that exchanges also contribute. But I think that many exchanges also create anti-advertising and reduce the popularity of bitcoin. Therefore, there are both pros and cons here.

Which exchange reduces the popularity of bitcoin? I don't think any exchange can reduce the popularity of bitcoin. Also, exchanges are not responsible for creating any hype for coins. Exchanges just list the coins on exchanges.

Yes, i agree that exchanges can manipulate the prices a bit to liquidate people but they have nothing to do with the project. No exchange was involved in the LUNA crash, and in the case of FTX, it was a different story as the exchange collapsed which dumped the exchange token FTT.

[Supianto]

Well bitcoin can be used without exchange but using exchange can make the popularity of bitcoin to make people engage in the platform which I think it will be better for us to the exchange.

Yeah, that was said in the original post. TBH I prefer not to use centralized exchanges, and especially not to hold there any of my crypto. FTX collapse should be a lesson for everyone.

[Sophiya]

I do not know about others, but for me the exchanges are very important. I spend most of my time on cryptocurrency there. All the buying and selling there, it increases bitcoin's visibility in different segments of the population. Exchanges have their disadvantages, but it is wrong to underestimate their role. Especially the decentralized system, it seems to me its role is incredibly significant to perform bitcoin manipulation and more secure. I would never say no to the exchanges.

[panganib999]

Exchanges became the heart and soul of this industry. With a vast array of cryotocurrencies that exist on the market, trading them along with withdrawal and deposit options is surely a good idea not only to make money, but to also increase accessibility within the space. That's why exchanges, whether DEx or CEx, are integral in this industry.

[minime0105]

I do not know about others, but for me the exchanges are very important. I spend most of my time on cryptocurrency there. All the buying and selling there, it increases bitcoin's visibility in different segments of the population. Exchanges have their disadvantages, but it is wrong to underestimate their role. Especially the decentralized system, it seems to me its role is incredibly significant to perform bitcoin manipulation and more secure. I would never say no to the exchanges.

Some of the exchange are scam and the same wrong exchange, because i understand that some of the exchange put a condition that will be difficult for their investors or exchangers will be difficult to solve when they are in trouble and mostly their kind of KYC verification,so it's good for someone to go exactly and research for some exchanges before starting investing in cryptocurrency exchange the way i noticed some of the problematic of exchanges.

[Cryptodebjoe]

Exchange are so important because they affect and inform business individuals of when, how and quantity of thier investment, it also enables government to make financial decisions.
Another thing is that you can predict it based on some previous actions or words of major marketing influencers or government decisions this is why inflation affects it... All this goes together and affect the crypto space

[akuntester1]

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 of course, I think exchanges are indeed one of the prominent factors for the popularity and accessibility of Bitcoin.
Currently more and more people are interested in just finding out and even adopting Bitocin.
One of them is due to the massive advertising from several exchange platforms.

Indeed, there are still many deficiencies in the type of exchange platform whether it is a decentralized exchange (DEX) or a centralized exchange (CEX),
But apart from that, in my opinion, the exchange platform makes it easier for someone to transact and start adopting Bitcoin.

[valeneu]

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 very important for any cryptocurrency. Trading among bitcoin traders has become easier through exchanges where people can buy and sell it easily. Exchanges have boosted the popularity and trading volume of Bitcoin, and also brought more users into the crypto space.

[Outhue]

Well bitcoin can be used without exchange but using exchange can make the popularity of bitcoin to make people engage in the platform which I think it will be better for us to the exchange.

Yeah, that was said in the original post. TBH I prefer not to use centralized exchanges, and especially not to hold there any of my crypto. FTX collapse should be a lesson for everyone.

Is there any decentralised exchanges that supports P2P because the reason why I am still using Binance exchange today is because this is the only way I can exchange Fiat to crypto.

It seems that only centralized exchanges have this feature till date, I have no choice but to stick with a centralised exchange for using Fiat to buy crypto, I have no other options.

[Smartprofit]

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?

In my opinion, cryptocurrency exchanges have played an important role in the popularization of Bitcoin. 

For the functioning of Bitcoin, the presence of fiat gateways is essential.  In the future, the era of Bitcoin dominance over all other world currencies will come. 

However, at present, Bitcoin interacts with the traditional financial system (including through trading on cryptocurrency exchanges).  Currently, there are new ways of exchange, such as atomic swaps. 

The importance of cryptocurrency exchanges, especially centralized exchanges, is gradually decreasing.

[coinerer]

Exchange is an important platform and due to this the demand of other currencies including bitcoin is increasing and it is reaching the masses and if there was no exchange no one would want to use bitcoin because no one is dependent only on bitcoin each one uses different currencies and what to trade.  Exchangers play a big role here by converting them into stablecoins and then reinvesting .so exchanger is must important

[Luzin]

First I got to know Bitcoin because it can take advantage through trading. So I think trading being the main actor of Bitcoin could become as famous and thriving as it is today. Indeed, if you look at it, this deviates a bit from Satoshi's vision.
But at least this is the current business development. The current exchange has provided profits and improved the economic situation of some people. In addition to the exchange being a life, today they are the main actors bitcoin remains trusted and valuable. Even today there are more new exchanges even though sometimes they can't be trusted.

[TalkativeCoin]

Well bitcoin can be used without exchange but using exchange can make the popularity of bitcoin to make people engage in the platform which I think it will be better for us to the exchange.

Yeah, that was said in the original post. TBH I prefer not to use centralized exchanges, and especially not to hold there any of my crypto. FTX collapse should be a lesson for everyone.

The only one I could fully trust is probably the CB, but after FTX, I'm probably safer with an HW Wallet until I decide to dumb 

[GeorgeJohn]

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?

Bitcoin in another way round can exist without exchanges, and if it does it will be very difficult to have a Bitcoin transaction that will give you Fiat currency, because P2P is very hard before you can as well see the transaction with very big amount, i will tell you that exchanges is what means the transaction of Bitcoin with fiat currency to be very simple and easier for us.

[BigBos]

First I got to know Bitcoin because it can take advantage through trading. So I think trading being the main actor of Bitcoin could become as famous and thriving as it is today. Indeed, if you look at it, this deviates a bit from Satoshi's vision.
But at least this is the current business development. The current exchange has provided profits and improved the economic situation of some people. In addition to the exchange being a life, today they are the main actors bitcoin remains trusted and valuable. Even today there are more new exchanges even though sometimes they can't be trusted.

I think you are right, basically, we can easily access and get to know Bitcoin directly through trading or exchanges, both centralized and decentralized exchanges, of course, these two exchanges have experienced very massive development, especially in 2020-2022 there are many new platforms or projects as parties that provide a service for exchanging Fiat currency with Bitcoin, yes, even though it is possible with P2P but it is quite difficult and rather complicated, so maybe most people use exchanges more so they can make transactions easier.

[Inwestour]

Which exchange reduces the popularity of bitcoin? I don't think any exchange can reduce the popularity of bitcoin. Also, exchanges are not responsible for creating any hype for coins. Exchanges just list the coins on exchanges.

Yes, i agree that exchanges can manipulate the prices a bit to liquidate people but they have nothing to do with the project. No exchange was involved in the LUNA crash, and in the case of FTX, it was a different story as the exchange collapsed which dumped the exchange token FTT.

The CZ was involved in the collapse of the FTX, but I don’t know if it was the influence of one exchange on another. Of course, it was a confrontation between two large exchanges and they were competitors in the market, and as a result, the stronger one removed the weaker one. But this is a natural course of affairs in the market where we are talking about big money. The SBF made many very serious mistakes, but in the end, this news did not affect the cryptocurrency market that much.

Exchanges are important for traders, for those who spend a lot of time trading, for holders and investors, this is just a convenient tool that could be dispensed with if necessary. But since they are convenient to use, why not use it, the most important thing is to follow the safety rules and not store your coins there.

[Vaskiy]

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?

Bitcoin in another way round can exist without exchanges, and if it does it will be very difficult to have a Bitcoin transaction that will give you Fiat currency, because P2P is very hard before you can as well see the transaction with very big amount, i will tell you that exchanges is what means the transaction of Bitcoin with fiat currency to be very simple and easier for us.

Bitcoin without exchanges would've never been this high in growth. Exchanges have played a big part, there are flaws as scams to ruin the reputation of bitcoin. In other way these exchanges have made more good to the uplifting of the market. As suggested bitcoin can function without exchanges, but we don't experience the same level of convenience and comfort as now.

[Hispo]

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Bitcoin without exchanges would've never been this high in growth. Exchanges have played a big part, there are flaws as scams to ruin the reputation of bitcoin. In other way these exchanges have made more good to the uplifting of the market. As suggested bitcoin can function without exchanges, but we don't experience the same level of convenience and comfort as now.

My prediction of Bitcoin without centralized exchanges it would be a market with less volatility and less daily volume, the price would be about the same maybe, I am not sure.
With enough time the lack of convenience and comfort would have gotten solved, though. There is already one project of decentralized exchange for Bitcoin which I have heard of (Bisq), but we all got used to businesses like Binance and Coinbase.