Bitcoin Adoption: KuCoin Leads the CEX War
Surfing Bitcoin – Bitcoin revolutionized the world of finance by creating a new form of money, digital, decentralized and transparent. Her mass adoption however remains a challenge for many potential users. In fact, for Bitcoin, the network, and BTC, the cryptocurrency, to be widely adopted, they must be accessible and easy to use. In this context, Alicia KaoCEO of KuCoin took part in an exchange last week at the Paris Blockchain Week to discuss the role of centralized exchanges (CEX) in this adoption.
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“Bitcoin: the internet of value”
This was the name of the must-attend Paris Blockchain Week conference that took place last week. Also at the round table was Nic Cary from Blockchain.comPaolo Ardoino de Bitfinex / Tether and Nicolas Cantu from 4NK. On the menu : “Bitcoin, the internet of value”.
As you probably know, bitcoins can be traded freely without require a trusted third party, like a bank. The value of creating Satoshi Nakamoto also lies in its decentralization and his accessibility to all. However, decentralized finance and the protocols that drive it also have their obstacles. Sometimes difficult to access and understand for the uninitiated, their hermeticism hinders the adoption of the blockchain. Yet, paradoxically, the greater the number of users, the greater the value and utility of Bitcoin. It’s called thenetwork effect.
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The Key Role of Centralized Exchanges in Bitcoin Adoption
It is in this dynamic that the exchanges intervene according to Alicia Kao: allow to create a global exchange network.
“Bitcoin users are far removed from the 4.6 billion internet users worldwide (…) If more and more people join the Bitcoin network, its value and usefulness will probably increase due to the effect network. »
Alicia Kao, CEO of Kucoin
In this beautiful painting, however, the leader underlined the difficulties that the sector has to face – like the crisis crossing in 2022. One thing is clear: trust and transparency are the two fundamental pillars on which mass adoption must be based.
So, to support Bitcoin’s value proposition, including in emerging countries, the importance of centralized platforms in the generalization of the “crypto” tool was underlined. Easy to use, accessible to as many people as possible via smartphones, … exchanges naturally facilitate the use of cryptocurrencies for as many people as possible.
“(…) the more users that participate in the Bitcoin ecosystem, the more the overall value of the network increases, which encourages even more users to join. »
Alicia Kao, CEO of Kucoin
KuCoin: CEX key players in the mass adoption of Bitcoin
In this sense, Alica Kao pointed out that KuCoin was part of this dynamic. THE CEX (centralized exchanges) to improve accessibility, simplify exchanges and educate users about Bitcoin and its technology.
For example, KuCoin makes it possible to discover more than 700 digital assets and also offers services of staking and of lendingallowing to discover the decentralized finance. Available in 207 countries and regions around the world, KuCoin has already raised $150 million in 2022, despite regulatory storms and other rumors regularly killed at great strokes of transparency.
Of the NFT Ordinals right down to the different use cases that are illustrated around the world, Bitcoin and the blockchain have shown their many virtues. On the occasion of Paris Blockchain Week, faced with this booming network, and the growing success of Web 3 more globally, KuCoin was able to show off determined to play a decisive role inbitcoin adoption and cryptocurrencies. Easy to use, whether you are a beginner or a crypto-confirmed, trying KuCoin will be a breeze.
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