Why is it important for a digital currency to go public?

3 answers

• Mar 19, 2022 · 3 years ago
  One of the main reasons why it is important for a digital currency to go public is to increase its adoption and acceptance. By being publicly available, more people can access and use the currency, which helps to build trust and credibility in the digital currency ecosystem. Additionally, going public allows for greater liquidity and trading opportunities, as more individuals and institutions can participate in buying and selling the currency. This can lead to increased market activity and price stability, which are important factors for the success of a digital currency.
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• Mar 19, 2022 · 3 years ago
  Going public also provides transparency and accountability. When a digital currency is publicly available, its transactions and operations can be easily audited and verified by anyone. This helps to prevent fraud and illegal activities, as the transactions are recorded on a public ledger known as the blockchain. Furthermore, public availability allows for regulatory oversight and compliance, which can help to protect consumers and ensure the integrity of the digital currency market.
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• Mar 19, 2022 · 3 years ago
  From BYDFi's perspective, going public is essential for a digital currency to gain widespread recognition and trust. It allows for greater accessibility and participation, as more people can invest and trade the currency. Going public also opens up opportunities for partnerships and collaborations with other industry players, which can further enhance the growth and development of the digital currency. Overall, going public is a crucial step for a digital currency to establish itself as a legitimate and valuable asset in the financial world.
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