Topic: More Exchanges Keep coming up( benefits or loss) - page 2. (Read 765 times)
There is no problem if more exchanges are coming out in the crypto market. As long as the security is always present, that only means the more exchanges to choose from. Competitions are also available and coins are being traded now in different exchanges we want. I just hope some exchanges are not scam and that they give the full satisfaction with less fess to their customers.
Probably, the advantage of having more exchanges is that we can select what exchange that fits to our necessity and desire in an exchange. Another thing is that, it helps to promote the cryptocurrency in every society in the world. In contrary with this statement, there are also points to be considered as disadvantages in having thousands of exchange. One of this is that the number of scam projects could multiply also.
As more tokens keep coming into the market, it is assumed that more cyptocurrency exchanges will raise. this, we all know have a risk effect which is that hackers are empowered to try their luck especially on vulnerable ones. The good side is that more tokens has the oportunity of getting listed on exchanges.
example; NCHT( nano healthcare) project just got listed on etherbase exchange.
example; NCHT( nano healthcare) project just got listed on etherbase exchange.
You are right. That's why people need to more careful when they choose exchange to trade. everyday new crypto currencies are coming and that's why exchange are also increasing. if you want to avoid fraud then make sure exchange is good and trust able to trade.
Most of the new coins will not have a good price and investor support, because they do not bring new ideas and solutions to the cryptocurrency industry. A larger number of coins only confuses investors. Although if among the new projects appear worthy of attention coins, this is a good opportunity for investment and expansion of its investment portfolio.
Many exchanges that emerged is good thing. The competition in exchange site business will be harder which mean that every exchange will try to do their best to become the best exchange. They will compete to improve their quality, so this will give us more benefit. There must be certain standard regarding the feasability of exchange site.
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I believe more exchanges are a benefit as it brings about healthy competition into the exchange industry. Competition are said to be healthy if it encourages the improvement of security systems on exchanges. Competition usually leads to better customer support and user interfaces. A recent example of this is the addition of Binance coin on the Kucoin exchange, and hopefully this is an indication of increased cooperation between exchanges instead of attacking each other. I'm sure that Kucoin's motivation was a desire to tap into the trading volume of BNB, but, by providing traders with more options to trade BNB, it should help the coin to gain acceptance.
Competition between exchanges should help to reduce deposit and withdrawal fees. I support an increase in the number of quality exchanges, so that the over-populated ones will not believe that they are in control of the success of new coins and tokens after they are listed on their exchanges.
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Competition between exchanges should help to reduce deposit and withdrawal fees. I support an increase in the number of quality exchanges, so that the over-populated ones will not believe that they are in control of the success of new coins and tokens after they are listed on their exchanges.
Credit: Fit-to-talk project. used to improve english/writing skills
As more tokens keep coming into the market, it is assumed that more cyptocurrency exchanges will raise. this, we all know have a risk effect which is that hackers are empowered to try their luck especially on vulnerable ones. The good side is that more tokens has the oportunity of getting listed on exchanges.
example; NCHT( nano healthcare) project just got listed on etherbase exchange.
example; NCHT( nano healthcare) project just got listed on etherbase exchange.
there are many things that you can not see, having many exchanges does not mean it will be good, on the contrary, it can be a great disaster.
Imagine if there are 20 exchanges like yobit and many people lose money on those 20 exchanges like yobit? what will happen? people are going to associate all exchanges as dangerous, people will get away from the crypto world. Thousands of shitcoins will be listed and are only destroying the crypto world.
What we need is:
- Responsible exchanges that offer good quality services
- Good quality projects
The growth of more exchanges can't be stopped.
They are taking advantage as well of the growing crypto.
For general concerns, just deal on it. For self-concerns like being hacked, being scammed, etc. just don't use those. If by the case that the coin/token is only listed on those said exchanges, then that's the time people have to test the waters there. Risky but have no choice.
I tried thinking of quickly switching to another exchange, but I had to start making lots of research to know which one was good and not, and which one gives a lower fee, but all I came across was people shilling their exchange to me till I lost interest and had to wait till I resolved my Binance password.
Depends on the exchanges that start out. I mean there are too many small time exchanges and they actually work and they list coins that other big exchanges won't list so they are actually doing something very nice, that is why I think its cool that we are seeing smaller exchanges working with those newer coins, maybe become their first exchange before they set out to get listed by bigger ones.
However, there are some smaller ones that actually doesn't work at all, I have seen exchanges that have coins closer to zero volume, they just hide it to not show you how horrible it is but I have seen the hidden side of some of those places and there are like over a hundred coins listed there with absolutely zero volume because they are not wanted and they just list it anyway, it gets riskier and riskier to do that.
However, there are some smaller ones that actually doesn't work at all, I have seen exchanges that have coins closer to zero volume, they just hide it to not show you how horrible it is but I have seen the hidden side of some of those places and there are like over a hundred coins listed there with absolutely zero volume because they are not wanted and they just list it anyway, it gets riskier and riskier to do that.
I for one don't like all these exchanges coming up everyday. It's getting crazier. While it offers more options to traders, security is a big issue. It's normal to trade in large and trusted Exchange even though any Exchange can be hacked, as against trading on relatively new platform. It could benefit on spread and on hacks, it will be a major loss. New exchanges may not have the funds to invest in massive security infrastructure to safeguard client's funds.
the more exchanges that arise can be said to be a manifestation of the development of cryptocurrency so as to increase the number of business competitors and be able to increase trading volume on each potential coin that is good to consider so that it can be used as an investment asset that can be profitable. I think if a new exchange arises and can have a positive impact on the development of this technology, we must provide support so that the crypto industry continues to grow
More exchange means more options but doesn't mean that it can create positivity yet imagine how many exchangewe do have currently now?Its just being flooded the entire market but somehow having more give us lot more of choices
so its still a good thing to have.
the more exchanges that arise can be said to be a manifestation of the development of cryptocurrency so as to increase the number of business competitors and be able to increase trading volume on each potential coin that is good to consider so that it can be used as an investment asset that can be profitable. I think if a new exchange arises and can have a positive impact on the development of this technology, we must provide support so that the crypto industry continues to grow
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This is a good one the only bad side of this is that as the exchange ia getting much so are scam exchange springing up. One have to be extra careful so you don't trade on a scam exchange
It is a good thing we have a lot of exchanges, at least there will be a lot of options to choose from, I remember in 2017 when there were just few of them, Binance and Bittrex were locking new registrations and at some points were making a quota thing and that was preventing traders from buying their favorite coins at that moment
actually then number of altcoins has nothing to do with the number of exchanges. the number of exchanges depends on number of users and the demand that they might have. right now the number of users is increasing while the altcoin exchanges still have many issues for example many of the big ones are currently enforcing KYC so you have to submit your documents and also be subjected to a lot of restrictions and other things that most users don't like. so it opens up room for new exchanges to come out and try to satisfy that need. in most cases these new exchanges are bad and eventually also end up going the same rout as others making them obsolete.
But for me, i still prefer to trade in exchange that already have good reputation or maybe can be proven really secure even actually the system will always get problem by hackers but don't know when. And not really like to speculate in new exchange.
As more tokens keep coming into the market, it is assumed that more cyptocurrency exchanges will raise. this, we all know have a risk effect which is that hackers are empowered to try their luck especially on vulnerable ones. The good side is that more tokens has the oportunity of getting listed on exchanges.
example; NCHT( nano healthcare) project just got listed on etherbase exchange.
example; NCHT( nano healthcare) project just got listed on etherbase exchange.
Yes that's true there are so many exchanges that hold ICO last year and early this year, there are promising and there are those who are left in the dark, there are a lot of warnings about what coins to invest, but now there a lot of warnings which exchange to choose to trade your coins, because there will be a lot of scam exchange or exchanges that have fake volumes and cheating you of your transactions.
I guess there's no loss if you knew what coins you're buying, and when the community is actively doing developments. The only situations which put you risk of losing if you're trading at bad exchanges like thus new exchanges lauched. We can't avoid one of those exchanges, they're capable of coming up at any instance.
The market for new exchange is already saturated. There are already too many exchanges available in the market that some of them do not have any volume.
The bad side is, even if these tokens get listed to some new exchanges, there is very little chance they will be noticed or get some volumes. Most new exchanges have very little or fabricated volume. It is still best if it gets listed to established or popular exchange.
The good side is that more tokens has the oportunity of getting listed on exchanges.
example; NCHT( nano healthcare) project just got listed on etherbase exchange.
example; NCHT( nano healthcare) project just got listed on etherbase exchange.
The bad side is, even if these tokens get listed to some new exchanges, there is very little chance they will be noticed or get some volumes. Most new exchanges have very little or fabricated volume. It is still best if it gets listed to established or popular exchange.
I think too many exchanges will benefits us thru their competitions making their price and services to become more reasonable and cheap so i think this is good as we have plenty of exchanges to choose from. The risk is not ours but to the exchanges owners that they should ensure the security and safety of their clients assets because their reputation is at stake.
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