What is the Bitcoin Terminal Market (Bitcoin Centralized Exchange)?

What is the Bitcoin Terminal Market? Simply put, it refers to the system users use to purchase Bitcoin, either through a wallet or an exchange. Typically, people choose to use third-party platforms for payment, exchange, recharge, and other operations. For some individuals, they can buy and sell Bitcoin or other digital currencies through websites in stores, but these intermediaries generally do not generate any income for customers. As this type of service can only be provided by large enterprises, it is difficult to achieve real profits in the market. Therefore, the operation of the Bitcoin terminal market is similar to cash trading places and is a very simple method.

Bitcoin Centralized Exchange

Editor’s note: This article is from BlockBeats (ID: BlockBeats), authorized and reproduced by Odaily.

Bitcoin.com is an Ethereum-based cryptocurrency exchange that launched its decentralized trading platform in October 2019. Since then, its token price has remained stable, but recently a new project called CryptoCompare has emerged. It is a multi-chain wallet supported by Bitcoin, allowing users to transfer their BTC directly to other wallets using Bitcoin addresses without any intermediaries.

Coinbase was the first company to offer this service, although the company claims to have over 20 cryptocurrency wallets and 30 independent custodians. “I think we should start serving these customers.”

“For some startup companies that want to invest, this is a very important choice,” Coindesk wrote, “As more and more investors participate, we hope to have more opportunities to expand.”

However, many blockchain developers who enter the market still doubt whether Coinbase really provides a secure way to store, send, and receive Bitcoin and other digital assets. According to a research report by Chainalysis, “Currently, most exchanges cooperate with an entity named Bitfinex. Due to the lack of KYC verification procedures by the exchanges themselves and their partnerships with other third parties, it is difficult to find a suitable solution.” Coinbase has also submitted a letter to the SEC suggesting that its employees must comply with anti-money laundering regulations and regularly assess whether its products and services comply with regulatory requirements. “If a certain protocol or product is subject to legal restrictions, it will not be prohibited from using Bitcoin on it, but rather it will be incorporated into securities law. Therefore, there is nothing more important than creating a legitimate Bitcoin trading market.”

A spokesperson for Coinbase told BlockBeats, “Our mission is to ensure that all countries sanctioned by the United States maintain an open attitude towards innovation in the crypto industry. As a technical expert and researcher, we are confident in seeing more institutions adopt regulatory approaches.”

Although Coinbase has achieved great success, it still faces distrust and uncertainty from various parties, including the Financial Crime Enforcement Network of the UK Treasury, the CEO of the Australian Federal Deposit Insurance Corporation, Brian Brooks, and David Mercer, portfolio manager at Accenture, one of Canada’s largest banking groups.