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Learning Bitcoin

You're reading from   Learning Bitcoin Embrace the new world of fiance by leveraging the power of crypto-currencies using Bitcoin and the Blockchain

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Product type Paperback
Published in Oct 2015
Publisher
ISBN-13 9781785287305
Length 236 pages
Edition 1st Edition
Tools
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Toc

Table of Contents (10) Chapters Close

Comparing Bitcoin exchanges

Shortly after Bitcoin's beginning in 2009, online exchanges were created to facilitate buying and selling of Bitcoin. In 2010, MtGox was the first exchange to bring Bitcoin to the market. MtGox was originally a site for trading Magic the Gathering cards but was adapted for trading bitcoin. They grew quickly, both in user base and trade volume, and brought Bitcoin to many thousands of people. However, they were unable to sustain the pace of growth and met difficulty in meeting government compliance. Ultimately, they experienced a significant bitcoin theft that left them insolvent. In early 2014, they publicly announced their insolvency and filed bankruptcy.

Thus, when choosing a Bitcoin exchange, it's most important to do some research on the company and its operations. Let's cover some important aspects used to make a worthy comparison.

Volume and liquidity

Consider an exchange with a light trading volume. If a large order is placed that exceeds the...

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