Viewing a response to: @shortsegments/cryptocurrency-exchanges-a-brief-look-at-centralized-and-decentralized-exchanges
Personally I don't think there is so much wisdom in engaging a centralized exchange when I can get the same thing done with a decentralized exchange where I have total control over all my transactions. I have actually heard of this Liquidity thing for a long time but I don't really know about it in details and reading through your post I have seen it a couple of times and I would like to cease this opportunity to ask please what it is. Am still trying to get conversant with the terminologies on the blockchain so please if you don't mind I would like you to explain more please.
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Hello @eldecor Sure :) Liquidity in this setting means the volume or numbers of offers to buy and offers to sell. The larger the number of buyers and sellers, the better the prices and itโs easier to either buy something or sell something, and importantly get a good price. This situation is referred to as high liquidity . In contrast, when there are few buyers itโs hard to sell, and the price the buyers are offering my be very low or a bad price. So not only is it hard to sell something, but you may have to sell it at a loss. The similar situation applies if there are few sellers. The price tends to be high or a bad price, so you pay more then you think is reasonable. This is referred to as low liquidity. @shortsegments
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Wow! Quite interesting. I just learnt whales of stuffs today. Guess I now know when to buy and when not to buy I will sure follow you so I would be reading more of your awesome contents.
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Thank you,
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