Re:Why is everyone a bank?
by rchaud on Tuesday November 19, 2019 @11:16AM
(#21574561)
But the biggest actors in crypto are the exchanges, literally the middlemen between buyers and sellers. The volume of trade with crypto as a medium of exchange is dwarfed by the amounts changing hands via the exchanges.
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You may need an exchange once to acquire crypto (and even then, not really, you could buy crypto from an individual, or mine it, or just take a payment in crypto...) but once you're "in the system" so to speak, you can pay and receive crypto without ever having to deal with exchanges anymore.