Topic: How many crypto exchanges are really required? - page 8. (Read 1144 times)
Each project coming with their own exchange is analogous to each business having their own stock exchange with that not create confusion for market operators , I think they are way too many exchanges in the crypto-currency space. It is needless having tis number of exchanges for the trading of tokens
We already have enough what possibly can they offer which will challenge status quo? I see it that they are here for their pockets and nothing more. Last year many swept throughout this space claiming one thing or the other but today, they are no where to be found. Top exchanges keeps advancing so as to remain relevant and new ones are coming up, how possibly can they compete? Let's not be driven by unnecessary anticipated features they are claiming to offer and focus on reality, which is, we have enough exchanges already.
These days it has reduced unlike before where you lose count when try to take statistics of them ! It’s just a pointer to the fact that there are many selfish people in this space who cares only about the money !
Having multiple exchanges is good, it drives the innovation by forcing competition, in the end only the exchanges who offer the best features and customer service, as well as remaining compliant, will be the victor.
This is a new sector within finance so the sector is constantly evolving, I believe we're still in the infancy stages of crypto-currency innovation, just imagine what 10 years from now will look, chances are there will be a new Blockchain that's better than All the current ones out now, or being developed.
This is a new sector within finance so the sector is constantly evolving, I believe we're still in the infancy stages of crypto-currency innovation, just imagine what 10 years from now will look, chances are there will be a new Blockchain that's better than All the current ones out now, or being developed.
You are right, majority are exchanges thus making it difficult for one to keep track of his accounts not forgetting the fact that some might request for KYC. Also, you will notice that most of these new exchanges do not last, because once you sell a token which is newly listed there, you might not visit the exchange again till further notice, now imagine how many people doing same. The funny thing is, even after selling we still take the funds to major exchanges for trading as the case maybe. Therefore most of these new exchanges we need to be careful of them because it's evident they can't compete with the likes of Binance, Okex etc.
Now a days, I have observed that out of ten projects three or four are of new exchanges. At the moment there are so many exchanges available for cryptocurrencies. When we invest in other projects and its token got listed in one of the new exchange, we have to create account with that exchange to trade those tokens.
Do you really think that there is a need of so many exchanges? isn't it very complicated and lengthy to keep accounts in many exchanges?
Please share your views.
Do you really think that there is a need of so many exchanges? isn't it very complicated and lengthy to keep accounts in many exchanges?
Please share your views.
Yes, I also think there are currently too many crypto exchanges. there are even many exchanges that do not have a trading volume. We should only need a few exchanges. this might help make crypto develop faster. with this very large marketcap, if divided into several exchanges. this can be a new power.
but unfortunately there are many greedy people who want to get money. they made an exchange project. and see what happens now.
I think that's good...
It seems that is the solution in making the project trip a success. On the other hand, this is one of the goals to build their exchange.
It seems that is the solution in making the project trip a success. On the other hand, this is one of the goals to build their exchange.
Existence of several exchanges is definitely in favor of customers. Exchanges competition with each other causes them to decrease the fees, make transactions faster and generally build a better exchange. Large number of exchanges makes the market competitive and it is 100% in favor of customers. New exchanges always try to provide new opportunities to attract more customers.
There is no need to have account on many of exchanges unless you deal with many shitcoins and need one exchange for each of your shitcoins. You can choose one or two exchanges and work with them and whenever you find a better exchange you can move to that.
There is no need to have account on many of exchanges unless you deal with many shitcoins and need one exchange for each of your shitcoins. You can choose one or two exchanges and work with them and whenever you find a better exchange you can move to that.
Now a days, I have observed that out of ten projects three or four are of new exchanges. At the moment there are so many exchanges available for cryptocurrencies. When we invest in other projects and its token got listed in one of the new exchange, we have to create account with that exchange to trade those tokens.
Do you really think that there is a need of so many exchanges? isn't it very complicated and lengthy to keep accounts in many exchanges?
Please share your views.
Do you really think that there is a need of so many exchanges? isn't it very complicated and lengthy to keep accounts in many exchanges?
Please share your views.
I think we should ask this question how many DEX we need! Although it is open to a large number of CEX trading, we do not have any DEX at all. (Except for a single coin-based project like Etherdelta, of course.)
I can't trade with all cryptocurrencies in a DEX, for example. Someone should provide it.
You have shared a very important opinion and of course "everybody" has seen it too. This is actually making the crypto space monotonous where almost every project is now having the same kind of goal, value and purpose. They now focus on either gambling/gaming or exchange.
This was also what the ICO projects were doing, I hope these projects succeed.
This was also what the ICO projects were doing, I hope these projects succeed.
at this time if we look at crypto monitoring sites like cmc, coingecko and others I think we don't need any more exchanges because many exchanges don't have volume and also some exchanges are indicated to have fake volume that is needed right now is actually a reduction or maybe a limitation on the exchange because I already hate seeing ambitious project exchange but don't have a good plan, it makes the crypto industry like a game.
To say the truth we shouldn't have more than 10 good exchanges in crypto space, there will be more focus on exchanges that have watch trades and fake volumes but now that we have too many exchanges things are getting more complicated and now new exchanges are joining the IEO Race, i think we are seeing more exchanges this year mainly because of how much they will make from IEO projects
I would be happy with Binance, Huobi, Kucoin, Gate and several decentralised exchanges, where I can safely exchange my crypto. I cannot get such a variety of exchanges and to be honest, I am using only 4-5 exchanges in general.
There are several exchange that we only trust just like Binance which is the currently exchange that I have use. Even I see a lot of new exchange I still stick to the exchange that has good reputation and have good security. I also have account in some popular exchange like Bittrex and Latoken. But, right now most of my trade are in Binance. 
There is no limit to it though, its just that anyone who can organize a team can build and exchange and list some tokens. You wouldn't wanna trust all of them with all your KYC documents. However if you really need to dump the coins you got, you just have to do it to the only exchange that listed your token. Its not like you are left with no choice but when time is running out, you got to do it.
Yes you are very right and i have similar experience and i do think that their needs to be some limit and new ones should be stopped the only positive aspect about all these new exchanges coming up is that the newer coins or tokens get a chance to list and trade and secondly the competition in this niche increases so i think this is healthy competition and only the best exchanges will be able to survive.
We have too many coins in crypto space and its really a big problem, i think having too many exchanges is worsening the whole thing because if we have limited exchanges scam projects or weak projects will find it very hard to list on big exchanges, new exchangez are popping up to list all these useless projects and those who earned their tokens will have no choice but to use new exchangez just to get rid of the tokens
Now a days, I have observed that out of ten projects three or four are of new exchanges. At the moment there are so many exchanges available for cryptocurrencies. When we invest in other projects and its token got listed in one of the new exchange, we have to create account with that exchange to trade those tokens.
Do you really think that there is a need of so many exchanges? isn't it very complicated and lengthy to keep accounts in many exchanges?
Please share your views.
Do you really think that there is a need of so many exchanges? isn't it very complicated and lengthy to keep accounts in many exchanges?
Please share your views.
It is not something difficult. Sometimes, the coin might not be listed on your desired exchange, but you can choose the best out of all, but do not leave your find on any of them, just trade and withdraw in order to be on a safer side, particularly if you do not trust the exchange.
Even if there's a limitless amount of exchanges created it isn't going to be a problem you just need to choose the right one for you. I've been using only 2-3 exchange ever since I was new in crypto and there's nothing wrong at all. That many of exchanges could be good for the competition and the users. If you are asking it is really required? the answer is a "no" but is it wrong? definitely not.
I would be happy with Binance, Huobi, Kucoin, Gate and several decentralised exchanges, where I can safely exchange my crypto. I cannot get such a variety of exchanges and to be honest, I am using only 4-5 exchanges in general.
We need so many exchange sites dude. This must be the main concern to consider the regulation of any countries are different and we need a lot of exchange site to comply with the regulation from these countries.
But you should give a marker if we need so many trusted exchange sites.
A few exchange sites are not enough to handle millions of people who trade every day. It's not so complicated as long as you can manage all of your accounts.
But you should give a marker if we need so many trusted exchange sites.
A few exchange sites are not enough to handle millions of people who trade every day. It's not so complicated as long as you can manage all of your accounts.
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