US traders use decentralized exchanges
Crypto

US traders use decentralized exchanges

By Marco Cavicchioli - 30 Oct 2019

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According to a recent survey, 59% of US traders also use decentralized exchanges. 

This survey was conducted by BDCenter Digital, which interviewed more than 800 traders in 75 countries around the world. 

Several questions were asked, including some about the platforms used to trade cryptocurrencies. 

In total, 40% of traders said they regularly use three or more exchanges, while only 19% said they use only one. The highest percentage of traders using a single exchange is in Russia: 27%. 

This is certainly due to the fact that no exchange offers all possible trading pairs, and for 44.5% of traders, variety is considered to be a priority when choosing a platform. 

In total, only 23% of respondents said they also use decentralized exchanges, but this percentage rises to 59% in the US. 

However, the research does not reveal the reasons for this strangely high percentage, and at the moment it is not possible to justify it with concrete evidence or reasons. The not particularly sympathetic attitude of US regulators towards cryptocurrencies might play a role in this choice. 

Another unexpected result concerns the security aspect: only 37% of the respondents mentioned security as one of the priority features of an exchange platform. As many as 32.5% said they keep all their crypto assets on the exchanges, while almost 70% said they would consider switching to another platform if the exchange in use were breached.

In Europe, however, only 20% admitted to storing all cryptocurrencies on exchanges, and 85% said they had never lost anything to hacker attacks. 

In addition, 77% of traders say they use their web browser, not apps, to trade. 

 

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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