Most cryptocurrencies are used for speculation. If you want to sell high, buy low you need something to trade against. Many exchanges, especially those that of

Most cryptocurrencies are used for speculation. If you want to sell high, buy low you need something to trade against. Many exchanges, especially those that offer any type of contracts trading, are not under normal financial regulation and to the extent they even offer fiat denominated orderbooks there is a risk premium attached to it. When withdrawals are not guaranteed by by any type of regulatory body people could just as well trade pretend-dollars, and that's basically what stablecoins are. Be cautious out there. At least these holders got their money back.