Let’s Get the Facts Straight: Currency Exchange vs. Trading Platform

We firmly believe that everyone should have a possibility to gain any currency they wish by simple exchange interaction: swap what they’re currently holding to a coin of desire. It also applies vice versa when one exchanges coins back.

But first, let’s see what a currency exchange is.

Currency exchange is traditionally a kiosk or a booth on the street or in a supermarket where you can, for example, exchange euros to dollars. You can also do it online, as is the custom and preferable way today.

Cryptocurrency exchange, in that sense, means that you give out euros and get cryptocurrency you want or need in return. Or, you give out one cryptocurrency, and you get another one as a result. Rather straightforward, don’t you think?  

Now, what happens, is that people mix up the valid and helpful currency exchanges with trading platforms. The latter being the podiums where you can trade various currencies or coins.

It’s crucial to understand it, so we’re going to emphasize it once again: these are not currency exchanges but trading platforms. There’s a big difference.

Money is meant for spending

The first thing you need to do on a trading platform is send money to your account (on the platform) which will sit there until you use it. After that you can buy and sell different coins and currencies.

What is the purpose of this action sequence? Well, mostly, people keep buying and selling in the hopes of making a huge profit. To gain lots of money. And, as a result, to be able to use it for a much broader spectrum of products and services. To fulfill their dreams even.

But, in the so-called normal, the mundane life, people don’t buy and sell currencies every day. They use it to make purchases, to pay bills and buy things of desire. And they have every right to do so. Because currencies should be used for that. They shouldn’t be traded continuously with.

Another important nuance is that trading platforms support buying and selling. Every time someone does that, it affects the overall price of a currency or a coin. When purchasing, the price is lower, and when selling, it’s higher. Simple.

But, when the price is lower, everyone’s buying. And the same applies when the rate is higher – everybody’s selling. What happens is that every one of us contributes to this mass movement which, as a result, affects the price.

The “money game” destroys the usability of cryptocurrency

All of the above works, sadly, against the usability and mass adoption of cryptocurrency. Which, as many of you already know, is our ultimate goal. The scenarios mentioned above scare people away. Why is that? Because we, as humans, need stability in our lives. We need stability for the desired usability and the trust of the users and merchants.

The ugly truth is: the trading platforms promote buying and selling, and have no indication or directions towards the usability of a currency. It’s all a money game for them. It’s not fair to us, the regular folks. The systems used (all kinds for that matter) need to be as transparent as possible to sport a long-run mindset and great results.  

As you would have guessed already, our goal is to steer far away from this kind of a game promoted and developed by the trading platforms. Our goal is to set our minds on only one aim – the most usable global cryptocurrency in the world.

Easy-breezy. So, what are you waiting for? To the crypto-mobile!

Read more: the evolution of money and our story.

Want to join our game? Jump on board!