Without exchanges, it’s difficult for people to move traditional money (like the US dollar) into bitcoin.

This is why a strong bitcoin exchange infrastructure is needed in order for cryptocurrencies to succeed.

While there are a number of great startups providing bitcoin exchange services, there needs to be more. Here’s why we need more exchanges in order to take bitcoin to the mainstream.

Exchanges Are the Entry and Exit

In order for people to get bitcoin for the first time, they need to convert cash into cryptocurrency. Sounds simple, doesn’t it?

Well, it’s not that easy.

Every transfer into bitcoin from regular money, whether via a bitcoin ATM, debit card or brokerage — requires an exchange of some sort in order to make transactions happen instantly. This is why we need more of them.

Money moves in and out of bitcoin daily — through exchanges.

“The need for more exchanges will really present itself once bitcoin starts to get further supported by easier, better, and safer application systems.”

— David Moon, co-founder of Spelunk.in