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Currency exchanges existed long before cryptocurrencies. As far as I know they are heavily regulated, more or less reliable and trustworthy. Hasn't the Forex

Currency exchanges existed long before cryptocurrencies. As far as I know they are heavily regulated, more or less reliable and trustworthy. Hasn't the Forex added cryptocurrencies to its listing by now? Is the cryptomarket still the far west these days and if so, why?

mikro2nd 9y ago
Many of the Forex exchanges HAVE added crypto-assets to their offerings. It tends to be limited to BTC and maybe a FEW more, though -- some people might view that as a problem.
- jerguismi 9y ago
  Can you list any specific examples? I'm aware of products that track the BTC price and futures, but not really any existing players which would allow you to buy actual btc so that you can hold it in your own wallet.
  - mikro2nd 9y ago
    This is a good point -- many are simply letting you trade CFDs against crypto-currency volatility, which is fine if all you're interested in is speculating in crypto prices. IIRC Swissquote does do actual BTC, ETH and a few others, though, and istr seeing one or two others, but I'm not a collector and hoarder of Forex exchanges. Pretty sure I've seen a bank or two dipping their toes into the water, too. After all, if there's money to be made out of it, they'll hardly be likely to stay away.
jerguismi 9y ago
Trust and reliability build up with time. Regulation is coming to crypto. The existing regulated companies won't be eager to touch it unless regulation has developed and/or they see lots of potential profits. While cryptocurrency might look like it's a big deal, it's still pretty much peanuts for many existing players.
pjc50 9y ago
It's hard to do well, especially in a currency where settlement can be an irreversible disaster if there is any kind of bug. But the customers are drawn to the cheapest exchanges - which are cheaper because they make their money in non-obvious ways which would be illegal on a real exchange.

mikro2nd 9y ago

Many of the Forex exchanges HAVE added crypto-assets to their offerings. It tends to be limited to BTC and maybe a FEW more, though -- some people might view that as a problem.

jerguismi 9y ago
Can you list any specific examples? I'm aware of products that track the BTC price and futures, but not really any existing players which would allow you to buy actual btc so that you can hold it in your own wallet.
- mikro2nd 9y ago
  This is a good point -- many are simply letting you trade CFDs against crypto-currency volatility, which is fine if all you're interested in is speculating in crypto prices. IIRC Swissquote does do actual BTC, ETH and a few others, though, and istr seeing one or two others, but I'm not a collector and hoarder of Forex exchanges. Pretty sure I've seen a bank or two dipping their toes into the water, too. After all, if there's money to be made out of it, they'll hardly be likely to stay away.

jerguismi 9y ago

Trust and reliability build up with time. Regulation is coming to crypto. The existing regulated companies won't be eager to touch it unless regulation has developed and/or they see lots of potential profits. While cryptocurrency might look like it's a big deal, it's still pretty much peanuts for many existing players.

pjc50 9y ago

It's hard to do well, especially in a currency where settlement can be an irreversible disaster if there is any kind of bug. But the customers are drawn to the cheapest exchanges - which are cheaper because they make their money in non-obvious ways which would be illegal on a real exchange.