Netcoins is an OTC exchange. The word exchange is used very loosely with Netcoins, but it is not really an exchange. Money is exchanged, but not by market buys and sells. Think of it like when you are on travel and you use an exchange booth that exchanges cash. You are not actually trading on an exchange even though you are at an "exchange" booth. What is really happening is that the exchange booth has cash of different types on hand and will buy your cash below the market value. That is how they make money. In the case of OTC exchanges, a trader would consider it a rip-off. For that reason, an OTC exchange like Netcoins will NEVER generate trading volumes that will ever influence the STEEM market.
The answer is no. We need to get STEEM or SBD listed on major exchanges.
Ohh well thank you for the clarification! Good to know how that OTC “exchange” works.
I’m still pushing for Coinbase honestly I think it would set a trend for Steem being listed across all the major exchanges.
Netcoins is an OTC exchange. The word exchange is used very loosely with Netcoins, but it is not really an exchange. Money is exchanged, but not by market buys and sells. Think of it like when you are on travel and you use an exchange booth that exchanges cash. You are not actually trading on an exchange even though you are at an "exchange" booth. What is really happening is that the exchange booth has cash of different types on hand and will buy your cash below the market value. That is how they make money. In the case of OTC exchanges, a trader would consider it a rip-off. For that reason, an OTC exchange like Netcoins will NEVER generate trading volumes that will ever influence the STEEM market.
The answer is no. We need to get STEEM or SBD listed on major exchanges.
Ohh well thank you for the clarification! Good to know how that OTC “exchange” works.
I’m still pushing for Coinbase honestly I think it would set a trend for Steem being listed across all the major exchanges.
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It is still good that STEEM is being adopted. Consider it a baby step in the right direction.
Also, it was a demonstration of the power of STEEM community. If another contest happens again, we have the real numbers to dominate.