Is there really a need for lot of new exchanges?

cynical

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Quote from: cau on October 26, 2017, 10:38:47 PM

Is there really a need for lot of new exchanges?

I could think of the following -
1) COSS
2) Kyber
3) 0x
4) Waves
5) WBB's exchange
6) XBY's X-Change

Other than decentralization in what else these exchanges have to offer

my answer is no.
i am already thinking there are too many,
which means too many accounts and too many passwords and 2 factor authentication codes to handle.

zanezane

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Quote from: Sjalero on January 02, 2018, 07:08:33 AM

The more exchanges the better. More competition will lead to better service and prices. Especially SERVICE is very much needed these days, I can speak from my experience with thousands of dollars gone missing for several days now because of an error in Poloniex systems. No support, nothing at all.

A good review/compare site for crypto exchanges would be useful also.

I agree as service will be the edge of every exchanges, the faster their response to the problem the better. We all experienced difficulties when we trade and it's unavoidable but with a great support it won't be a burden to a trader especially when we messed up.

FUD Expert

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Just look at Binance. They know that pain and the frustrations of trades so they offer much better service and they are doing good so far and now the best exchange going to the top very quick. New exchanges need to make themselves better than the popular old ones so just let them create more.

Sjalero

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Quote from: Sjalero on January 02, 2018, 07:08:33 AM

The more exchanges the better. More competition will lead to better service and prices. Especially SERVICE is very much needed these days, I can speak from my experience with thousands of dollars gone missing for several days now because of an error in Poloniex systems. No support, nothing at all.

A good review/compare site for crypto exchanges would be useful also.

Got my coins back after some 4 days of silence. Very happy but Poloniex has work to do getting their systems working properly and a support department responding within a reasonable amount of time.

Sjalero

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The more exchanges the better. More competition will lead to better service and prices. Especially SERVICE is very much needed these days, I can speak from my experience with thousands of dollars gone missing for several days now because of an error in Poloniex systems. No support, nothing at all.

A good review/compare site for crypto exchanges would be useful also.

imstillthebest

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Merit: 122

Quote from: maeusi on October 29, 2017, 04:30:03 PM

Yes, we need as many exchangers as possible with different features I look especially for one like poloniex and bittrex with exchange and trade section and exchangers without registration like shapshift but cheaper.

in my own personal views. having many exchanges does not really matter or beneficial at all because they can only cause confusion to us people who are oftently trading their coins whenever it hits to an online exchange but with this many competition of exchanges we dont really know on what is the best to use or what are the exchanges that currently supports our coins and tokens. the only main purpose why they are doing it is because of profit and to compete to others.

wxa7115

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Quote from: TheKeyLongThumbI on December 08, 2017, 02:59:15 AM

I don't mind if more will come. I will still use bittrex and sometimes cryptopia because it is tried and tested for me and I'm contented with the service so far.

Many exchanges are created every year but not many are successful especially for the point you're bringing, persons prefer to keep trading in a platform they already familiar, even if such a platform isn't the best, so a new exchange which wants to become successful will need to bring something completely new to the table so traders decide to test their platform over the one of their competitors.

BitcoinPC

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Also due to competition each of them will improve their services and especially support. The More exchanges means people will divide their deposits in different exchanges and close or hack of one of them, will means not losing all the money.

Qunenin

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Quote from: joeydangerous on November 09, 2017, 04:06:10 PM

Quote from: cau on October 26, 2017, 10:38:47 PM

Is there really a need for lot of new exchanges?

I could think of the following -
1) COSS
2) Kyber
3) 0x
4) Waves
5) WBB's exchange
6) XBY's X-Change

Other than decentralization in what else these exchanges have to offer

The more exchanges, the less likely it would be for that MT. Gox scenario to happen again. There is a bunch of junk exchanges though, watch out.

Yes, another benefit for having a lot of exchanges will be no monopoly for exchanges. They wont charge high for transactions and also keep the withdrawal deposit limit low.

eagleman

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Yep there's a need to have new exchanges so that we can try out the new services they can offer or if they will work better than the older ones.

If there's no other exchange and we are only depending to one or few exchange then monopoly can happen and we don't like that to happen so this is good when there's a competition for many exchanges to improve their service and support.

apoorvlathey

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Having more exchanges is good for the bitcoin community. It provides users the choice to chose the best amongst them, thereby increasing competition which ultimately leads to upgradation of exchanges to stay in the race.
Having different exchanges ensures that security breach in any one of them does not shakes up the price of bitcoin as was the case with mt. gox.

vv181

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I think nowadays Exchanges are getting stricter now, e.g., Poloniex wants all your personal information, regulations are coming, some people see it as a right way for the market to grow. But in my opinion, it would be a great concern for the people who seek privacy and anonymity. I believe this is an excellent time for the decentralized exchange to shine, but I doubt there a potential decentralized exchange, we should give a chance to a new promising exchange like Binance, etc.

debuni

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Merit: 1002

Quote from: cau on October 26, 2017, 10:38:47 PM

Is there really a need for lot of new exchanges?

I could think of the following -
1) COSS
2) Kyber
3) 0x
4) Waves
5) WBB's exchange
6) XBY's X-Change

Other than decentralization in what else these exchanges have to offer

Exchanges are made to collect fees. In reality we don't need all of them (currently over 70 popular), but competition is good thing. I just find it hard to keep up balances on all places I'm trading.

And we definitely need a better WAVES exchange with higher volume than the build-in DEX.

PranDoW

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I think new trading platforms are needed that would support more new coins. I really do not like etherdelta, and sometimes there are no other options.

spngebob

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Activity: 770

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The more decentralized exchanges the better, competition is always good. Besides, decentralized exchange won't ask you to provide any kind of documents. With centralized exchanges you never know when they will change ToS, block account and take your funds, look what is going on with bittrex, look at all these complains.

oldchain

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When I began to buy my first tokens, I was upset that the exchange was not one, but many. And will have to register for several. It is not comfortable.

Nazarov

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I think the more exchanges the better for everyone, the competition allows you to create better and better conditions. The future for decentralized exchanges

wxa7115

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Quote from: vlast01 on November 27, 2017, 09:27:08 PM

Quote from: cau on October 26, 2017, 10:38:47 PM

Is there really a need for lot of new exchanges?

I could think of the following -
1) COSS
2) Kyber
3) 0x
4) Waves
5) WBB's exchange
6) XBY's X-Change

Other than decentralization in what else these exchanges have to offer

Yes there is need for lot of new exchanges, It is because our crypthoworld are becoming crowded of new users
There are plenty of users who are using/ needing different type of exchanger to provide thier needs and wants and reach the standards they want for an exchanger. There are lots of exchanger for differet types of users to maintains proper use of tokens/coins in different way and transactions.

We also need more exchanges so exchanges do not become too centralized and a handful of exchanges can dictate the price of bitcoin, we already saw what happened when a single exchange has most of the trades taking place in its platform, the crash of mt gox affected bitcoin for years and many thought bitcoin will never recover and we cannot let that happen again.

TheKeyLongThumbI

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I don't mind if more will come. I will still use bittrex and sometimes cryptopia because it is tried and tested for me and I'm contented with the service so far.

leea-1334

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Temporary forum vacation

Yes there is. As long as the trade market is dominated by a few centralized exchanges, expect the current problems of slow support, website crashes and exit scams to get worse and worse. They all need competition, and especially from decentralized exchanges. Sure, we may have 100 different exchanges to trade at, but that is okay, especially if they are decentralized (that is the whole point). Let users choose the platforms with the best services, quickest and most secure trades and awesome support. Me, I am waiting for Waves to become big!

Topic: Is there really a need for lot of new exchanges? (Read 1444 times)