12-15-2022, 11:56 AM
Hot take: rooting for the death of exchanges is rooting against adoption
<!-- SC_OFF --><div class="md"><p>Sure, everyone here (including me) understands the benefits of taking your money off of a centralized exchange… but not everyone that owns crypto understands or agrees with that. Some people like to have their assets easily exchangeable without a dozen wallet transfers, some like to day trade, don’t want to buy a hardware wallet, etc. They may not want the “financial advice” that we’re all careful not to give, and that’s their prerogative. Their assets are potentially at risk, but half the people here have learned how to properly store crypto because they’ve been victims of that risk. </p> <p>To expand on that point, exchanges are where the majority of people start to trade. It’s where the new people enter the crypto space and buy the coins they want. <strong>This is where adoption happens</strong> - by putting it all in a nice little website for the people who don’t want to work their ass off to figure out how to buy an ETH token or download a dozen apps to transfer money back and forth. (Again, I’m not one of those people)</p> <p>By actively rooting for exchanges like Binance and Coinbase to go under, you’re rooting against the ease of access to cryptocurrencies for those just entering the space.</p> <p>So be anti-exchange all you want, but stop pretending you’re rooting for adoption. More spaces to buy crypto = more people buying crypto. Less spaces to buy crypto = less people buying crypto.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/reagsters"> /u/reagsters </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zlzpdg/hot_take_rooting_for_the_death_of_exchanges_is/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zlzpdg/hot_take_rooting_for_the_death_of_exchanges_is/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Sure, everyone here (including me) understands the benefits of taking your money off of a centralized exchange… but not everyone that owns crypto understands or agrees with that. Some people like to have their assets easily exchangeable without a dozen wallet transfers, some like to day trade, don’t want to buy a hardware wallet, etc. They may not want the “financial advice” that we’re all careful not to give, and that’s their prerogative. Their assets are potentially at risk, but half the people here have learned how to properly store crypto because they’ve been victims of that risk. </p> <p>To expand on that point, exchanges are where the majority of people start to trade. It’s where the new people enter the crypto space and buy the coins they want. <strong>This is where adoption happens</strong> - by putting it all in a nice little website for the people who don’t want to work their ass off to figure out how to buy an ETH token or download a dozen apps to transfer money back and forth. (Again, I’m not one of those people)</p> <p>By actively rooting for exchanges like Binance and Coinbase to go under, you’re rooting against the ease of access to cryptocurrencies for those just entering the space.</p> <p>So be anti-exchange all you want, but stop pretending you’re rooting for adoption. More spaces to buy crypto = more people buying crypto. Less spaces to buy crypto = less people buying crypto.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/reagsters"> /u/reagsters </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zlzpdg/hot_take_rooting_for_the_death_of_exchanges_is/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/zlzpdg/hot_take_rooting_for_the_death_of_exchanges_is/">[comments]</a></span>