Cryptocurrency is nothing but digital coins. This currency interacted with the cryptocurrency exchange for trading purposes and linked with the financial institution to make and receive payments. They play a key role in the circulation of crypto coins in the online market. Furthermore, they are the only source of trading the coins publicly in the online market.
These exchanges assist in BTC trading. So, it means that exchanges play a vital role in the circulation of cryptocurrency. Without the exchanges, nobody can trade it on the large scale throughout the world.
In addition, all the crypto trading platforms assist in the growth of the cryptocurrency by the net spread all over the world. They provide services in different languages in different regions of the world for the ease of their users.
The success of any cryptocurrency is related to the interaction of the stakeholders. As many stakeholders are involved in it, the chances of success of that cryptocurrency are increased. Furthermore, not a single currency can survive in the online market without the assistance of any institution like, crypto exchange, investors as well miners.
Stakeholders of the Cryptocurrency ecosystem.
There are numerous stakeholders that are involved in the whole structure, mechanism, and procedure of cryptocurrency which is discussed below.
Investors or Traders
The foremost and frontline stakeholder of any cryptocurrency is its investor or trader. These are people who affect mostly by the fluctuations of cryptocurrency. They are also affected by the rule and regulations by the multiple government agencies made from time to time to control the movement of cryptocurrency. Investors and traders are exposed to every kind of loss as well as profit.
Miners
Miners are the backbone of any cryptocurrency’s success. They make the blockchain system that is very essential for the transformation and movement of the digital coin without any interruption. If they are not available, it is impossible to circulate the currency in the online market. Miners make a network of thousands of computers attached to each other across the world to maintain a mechanism for the operation of any cryptocurrency. They assist the developer in mine and creating the new currency within no time.
Crypto Exchanges
Crypto exchanges are the most integral part of this whole process. The investors or traders feel difficulty in trading, buying, and selling cryptocurrency if crypto exchanges are not available publicly. crypto trading platform in which KuCoin is also enlisted to provide the state of art services in this ecosystem. A user can easily buy and sell the cryptocurrency on the KuCoin trading platform without any worry. Furthermore, the KuCoin also provides an extra layer of security to its users in trading.
Developers
Developers, that create the cryptocurrency are linked with the win and losses of that currency in the online market. It is a question mark on the reputation of developers of the concerned coin. The marker stakeholder keep eye on the decisions of the developers to analyze how much they are sincere with the crypto coin that is created by them. The success of any crypto coin is interrelated with the dedication of its developer’s team.
Government
Government and financial organizations are stakeholders that cannot be neglected in the whole process. The state bank keep eye on the transactions and circulation of the cryptocurrency in their country as well rest of the world. If they think that their economy has the chance of damaging by cryptocurrency they do not hesitate to take the action against it. They make very strict laws and regulations to limitate the circulation, buying, and selling of cryptocurrency.
Stock Exchanges
Stock exchanges are a powerful candidate as a stakeholder. They are really affected by crypto investors and trading. Because the people take out the investment from the stock exchange and put it into the crypto exchanges, which is a virtual currency. In some countries, cryptocurrencies are enlisted in these stock exchanges to secure the reservation of the stock exchange.
Conclusively, we can say that all the stakeholders are very important to the existence of cryptocurrency. Like cryptocurrency exchange, investors and miners. Nobody denies the importance of any stakeholder in this ecosystem. This ecosystem is made by the correlation of all the institutions with each other.