What is a liquid bitcoin exchange?
Could you elaborate on the concept of a liquid bitcoin exchange? As a professional in the field of cryptocurrency and finance, I'm interested in understanding the key characteristics that define such an exchange. Is it primarily about the ease of buying and selling bitcoins, or does it also encompass other factors such as trading volume, transaction speeds, and market depth? How does liquidity play a crucial role in ensuring the smooth functioning of a bitcoin exchange? Your insights would be invaluable in helping me gain a deeper understanding of this important topic.