Topic: More Exchanges Keep coming up( benefits or loss) - page 3. (Read 742 times)
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.
Known exchanges don't list new coins or projects that easily, they follow a certain rule that they set before they list a coin, unlike those new exchanges, their rules are relaxed so that new coins or new projects are given a chance to list their coins or tokens however, there's also a risk that comes with it, we don't know if this new exchanges will run away with our money.
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.
As long as the exchange is a legit exchange they are going to get some investors that will have interest in them. But I always feel that these new exchanges are wasting their time, because bigger exchanges are not going to give them any chance… that is why most of them ends up faking their trading volume and deceiving people to think that it is real while it is not. But it still doesn’t make any sense because at last they are still going to caught. example; NCHT( nano healthcare) project just got listed on etherbase exchange.
The more exchanges, the more it affords new tokens the opportunity to get listed.The thing is just that more crypto enthusiast do not trust new exchanges,as they usually have low volume.
The more the exchange, the better, as other exchanges will up their game due to competition, competition is very important in this network and that way every exchange will seek to upgrade it's system and make it more user friendly for customers.
That being said any cryptocurrency exchange can fall for hacks, though the chances of it being a well popular exchange is low.
The more the exchange, the better, as other exchanges will up their game due to competition, competition is very important in this network and that way every exchange will seek to upgrade it's system and make it more user friendly for customers.
That being said any cryptocurrency exchange can fall for hacks, though the chances of it being a well popular exchange is low.
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.
It means more headache for the bounty hunters. Imagine what will happen, if a bounty hunter participates in 12 different bounty campaigns and end up with a dozen different tokens in his wallet. Now let's imagine that all these tokens got listed in different exchanges. The bounty hunter will have to register with all these different exchanges and he needs to undergo KYC for each one of them. On top of that, he need to pay the deposit / withdrawal fees to multiple exchanges.
The more exchanges are a sign that more people are interested in crypto. this is getting better because competition will have a good impact on the services of an exchange.
of course security is a major issue.
Exchange is becoming more and more but the competition problem is really big. Besides, you can see that there are a lot of bad exchange operations and it is considered big risks, they can go bankrupt at any time and take all the money of investors and give up. hide.of course security is a major issue.
There are too many issues that need to be resolved and transparent at new exchange. These difficulties make larger and larger exchange more and more powerful: Binance, Huobi, Gate.io, ...
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.
The more competition that better of us consumers. The downside is that hackers will keep thriving on this new or even old exchanges. So it's really very very tough if you would assume to put up a exchange right now. Not just the initially money you have to shoulder, but the amount of responsibility just to keep it going and away from the hands of hackers.
People are different, so are their coding skill sets. By that I mean that what one considers to be a super secure exchange, might be considered an exchange ripe for a hack, so totally not secure in that case.
That's not the point. Everyone has a different coding style but there is one goal here, to be more secure. How can you say that it can easily be "ripe" to hack if it invested in awesome security or something? It's all just theoretical btw, I don't know how exchanges work. Another thing is that the far majority of the people have no clue about how secure or not secure an exchange is. Can you tell me what makes you consider a secure exchange aside from basic security features all exchanges already rock?
It's true that normal users, like me, would be able to say that it is secure. I think the best way to consider is to check its reputation with the exchange, knowing that if it has been hacked or something. I think almost all reputable exchanges have been hacked but it's up to the management on what to do with it. Honestly, I don't know the right thing but it's that one.People's "trust" in an exchange is usually based on volume because that according to them means an exchange is used by a lot of people, where they completely disregard wash trading and other forms of trickery.
Just like I said above, it could be incorporated with the number of users with the volume. I think people should just stay away with shady exchanges. 
More exchanges means more opponents in this business, which leads every exchange to improve their services, in overall it's good. New exchange doesn't automatically mean people will start to use them, it's very hard to gain customers these days when there are established big exchangers. Those who care about their money, maybe will stick with popular exchangers but those who aim to add as much coins as possible, will gain new users and who knows, maybe they have better security and in future will rise.
Maybe exchanges should invest in more security because that’s the best thing they could do if they want people to trust them.
People are different, so are their coding skill sets. By that I mean that what one considers to be a super secure exchange, might be considered an exchange ripe for a hack, so totally not secure in that case.Another thing is that the far majority of the people have no clue about how secure or not secure an exchange is. Can you tell me what makes you consider a secure exchange aside from basic security features all exchanges already rock?
People's "trust" in an exchange is usually based on volume because that according to them means an exchange is used by a lot of people, where they completely disregard wash trading and other forms of trickery.
A lot of the newer exchanges I've seen released recently offer basically nothing new to the crypto ecosystem at all, though that's not to say that all of them are useless. As mentioned in OP, there is also inevitably a number of these exchanges that are weak on the security side which might not bode well for the users of these exchanges. For this reason alone I and many other people here recommend using larger and older exchanges with reputation over a newer exchange without any longevity or reputability. Some older exchanges might also have security flaws or flaws in other areas too, though.
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.
Assuming there is no system to regulate this, the thought is not correct. Also I do not think there is a limit in the exchanges.
Yes, the exchanges have been increasing, but most are unnecessary.
example; NCHT( nano healthcare) project just got listed on etherbase exchange.
More like advertising and useless. 
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.
No, increasing number of shitcoins does not mean a direct corelation exists between the rise in the number of exchanges. If anything the number of shit-exchanges should reduce down and there should be an unofficial official group that would either approve an exchange or disprove it. More number of shit exchanges are definitely a loss.
This is a free market. Business people will always take advantage as long as they see a demand or an opportunity. The good thing here is that these new exchanges will be forcing older exchanges to improve their services if they do not want to be left out.
Maybe exchanges should invest in more security because that’s the best thing they could do if they want people to trust them. Eventually, you could realise that in The long run, it's going to be worth it. That's the main concern when it comes to checking out exchanges; maybe it's yours too.
I think it's an excellent opportunity to have as a trader to see different exchanges like arbitrage could come up but the tendency of fulfilling it would be hard. You need to be fast on it. But when it comes to an interexchange arbitrage. You could use a bot for it, like BitRage
I think it's an excellent opportunity to have as a trader to see different exchanges like arbitrage could come up but the tendency of fulfilling it would be hard. You need to be fast on it. But when it comes to an interexchange arbitrage. You could use a bot for it, like BitRage
There are many exchanges already and more will come in the future. I think the exchanges competition will be survival of the fittest. The exchanges who are getting used daily will remain and those exchanges who don't have any volume with their listed coins will be diminished. Some of these exchanges too will do what most scammers do, run away with the money of the traders. Many exchanges have done this and it many will do this too in the future.
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.
Whats the point on this post?I do see you are just shilling out NCHT.Hacking of exchangers is inevitableexample; NCHT( nano healthcare) project just got listed on etherbase exchange.
and would continue as long this market circulates money.These places are like honeypots.We don't actually need lots of exchangers which having
a few in numbers will already be enough.
The market is already flooded with so many exchanges that are not doing anything different than the already existing ones, so lets think about it if a person wants to launch their new coin and wants to put it on exchange, will he chose a top leading one or some dead exchange that has so low of trading volume, of course he is going for the popular one if he wants for his coin to succeed, and so is the user will he go sniffing around for some dead exchange or use a popular safe option like the popular ones, so how are these exchanges are going to survive ?, the market does not need more.
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.
I think you are misreading that correlation. An increasing number of tokens and an increasing number of exchanges are both just symptoms of the hype around crypto. Token issuers are doing a cash grab because hyped investors want to throw their money at anything they can. Exchanges see the hype and want to capitalize on it via trading commissions. Some of them are probably planning a long term exit scam too, disappearing with customer deposits, because it's the easiest method they see to amassing crypto wealth.
Hackers will continue to gain interest in stealing cryptocurrencies because of the irreversible payments and abundance of easy targets. Lots of vulnerable exchanges out there.
Of course it will be great for the society to have more exchanges, more exchanges mean more coin listed and traders could choose their favorite transaction fee, it also create arbitrage opportunity, but need to make sure the site is legit and got a strong security
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