What is the need of Cryptocurrency Exchange?
Answers
Explanation:
Crypto exchanges create huge pools of demand and supply, which makes finding other parties simple. They are also heavily used for day trading. Furthermore, they simplify working with crypto: we've all heard news about people accidentally throwing out their hard drives containing keys to a wealth of Bitcoin.
Answer:
The fundamental idea behind Bitcoin was to create a peer-to-peer system for money transfer, without any third parties involved. While Bitcoin managed technically solve that problem, the real world presented a number of other challenges: the first one being acceptance.
Explanation:
Crypto exchanges create huge pools of demand and supply, which makes finding other parties simple. They are also heavily used for day trading.
Also, exchanges can help you with another problem unique to digital currencies; since all addresses are hash-codes and numbers, people sometimes send money to the wrong address. And since there is no bank involved, the transaction is irreversible.
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