THE IMPORTANCE OF THE MANY EXCHANGES

cryptocrusher

full member

Activity: 420

Merit: 136

Quote from: Majharul Saiif on September 25, 2018, 06:59:54 PM

Quote from: rosemary4u on September 18, 2018, 06:35:28 PM

I think the many exchanges we have is in the right direction. The world of cryptocurrency is growing or advancing almost everyday as new projects are emerging through the ever popular blockchain technology. At the moment, there are many coins that are competing on the market, we need more exchanges to ensure that there is a fair competition on the market so the exchanges can provide the best of services for the numerous crypto enthusiasts.

Yes,I'm also agree with you. For more good exchanges, market price will be competitive. People will trust on crypto because of competition of huge people in different currencies. Blockchain technology will be more popular for this. So it will be the best combination

Lots of exchanges to me doesn't scream out security, actually it's the opposite. I just think it's more and more people looking to get a slice of the pie and that can't be good. If exchanges were truly competitive there wouldn't be so much spare money to go around and people wouldn't create all of these crap exchanges.

Majharul Saiif

member

Activity: 512

Merit: 10

BountyMarketCap

Quote from: rosemary4u on September 18, 2018, 06:35:28 PM

I think the many exchanges we have is in the right direction. The world of cryptocurrency is growing or advancing almost everyday as new projects are emerging through the ever popular blockchain technology. At the moment, there are many coins that are competing on the market, we need more exchanges to ensure that there is a fair competition on the market so the exchanges can provide the best of services for the numerous crypto enthusiasts.

Yes,I'm also agree with you. For more good exchanges, market price will be competitive. People will trust on crypto because of competition of huge people in different currencies. Blockchain technology will be more popular for this. So it will be the best combination

jhonjhon

full member

Activity: 1316

Merit: 126

Quote from: princesspoppy on September 25, 2018, 11:48:59 AM

I think having many exchanges has both its good and bad side. Good side is that there will be more options for traders, buyers and sellers to choose from which exchanges they want to change their tokens. More reliable and trustworthy exchanges are in the option, but the bad side of having lot of exchanges it that many people will be confused on what exchanges to trust and offer better rate and service. Also some exchanges especially new exchanges happens to be a scam.

Not necessarily we discover other exchanges about it's services, it is better to stick on exchanges that you feel comfortable and have less transactions fees.
A lot of exchanges recently create and they are incompetent enough from the old ones

princesspoppy

member

Activity: 634

Merit: 10

I think having many exchanges has both its good and bad side. Good side is that there will be more options for traders, buyers and sellers to choose from which exchanges they want to change their tokens. More reliable and trustworthy exchanges are in the option, but the bad side of having lot of exchanges it that many people will be confused on what exchanges to trust and offer better rate and service. Also some exchanges especially new exchanges happens to be a scam.

cryptocrusher

full member

Activity: 420

Merit: 136

Multiple exchanges are needed for competition but not many. The exchange market is saturated and will leave people confused about the options and where to turn. If you look at most industries there are only between about 2 and 5 major players in the market. This keeps them large enough to enjoy benefits such as economies of scale and recognition but also still encourages competition between them.

ShadowBits

hero member

Activity: 994

Merit: 504

Quote from: rosemary4u on September 18, 2018, 06:35:28 PM

I think the many exchanges we have is in the right direction. The world of cryptocurrency is growing or advancing almost everyday as new projects are emerging through the ever popular blockchain technology. At the moment, there are many coins that are competing on the market, we need more exchanges to ensure that there is a fair competition on the market so the exchanges can provide the best of services for the numerous crypto enthusiasts.

Yes, it should be like that exchanges and trading platforms should be fair for all the coins that could soar someday. But everything in this world runs with money, and if you want to list or manipulate that coin you need a huge amount of money.

Reid

hero member

Activity: 3052

Merit: 651

Quote from: rosemary4u on September 18, 2018, 06:35:28 PM

I think the many exchanges we have is in the right direction. The world of cryptocurrency is growing or advancing almost everyday as new projects are emerging through the ever popular blockchain technology. At the moment, there are many coins that are competing on the market, we need more exchanges to ensure that there is a fair competition on the market so the exchanges can provide the best of services for the numerous crypto enthusiasts.

It had its good side and also the bad sides.
If there are too many exchanges then it will be difficult to monitor all of them.

As we can see there have been a lot of reports of exchanges being hacked. There is a catch though. It needs to be investigated to ensure that they are telling the truth.
I still would prefer a decentralized exchange, but none have much volume by now. Not much supports it anymore.

aervin11

full member

Activity: 602

Merit: 103

It is true but there are also some downsides for having too much exchanges, new exchanges to be exact. I noticed that most of the new exchanges are conducting ICO to get funding and use their tokens/coins as a utility for the exchange and it is a good idea but they would still ask for high fees and that is unlike other older exchanges. To mention they are still new in the industry, how could we trust our funds in that exchanges by the time they would online. I really doubt we need more exchanges, their are some advantages but we don't need more, we just need to support those old exchanges to do better, make live support and keep their security intact.

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

Quote from: herurist on September 19, 2018, 12:02:32 AM

Quote from: rosemary4u on September 18, 2018, 06:35:28 PM

I think the many exchanges we have is in the right direction. The world of cryptocurrency is growing or advancing almost everyday as new projects are emerging through the ever popular blockchain technology. At the moment, there are many coins that are competing on the market, we need more exchanges to ensure that there is a fair competition on the market so the exchanges can provide the best of services for the numerous crypto enthusiasts.

I agree with that, many exchanges will create many project can replace their coin for listing. Exchanges help us to increase asset with trading and investment method but how they give us solution and easy rules is also important. Built exchanges is not easy, they must have powerful system that can give protection about users data and transactions. Experience support to help customers with their problem. Bonus or referral program to make another users keep stay and help increase exchanges performance. Many exchanges is good for us, good luck all.

Many exchanger gives us the freedom to choose what value we want and of course gives us choices. We all know that not all the exchanges are have same values. We must know the difference between different exchanger. And choosing the right exchanger is also a strategy for us to earn good and much higher than the other. Overall, having many exchanger is a good thing. And also a teach us to lesrn about choosing the right one exchanger.

Japinat

hero member

Activity: 3052

Merit: 685

This exchange operators would not start their business if they did not see that opportunity.
Of course the market is growing and the adoption as well, we need more exchanges in order to trade easily, it could also give us a wide variety of choices
and as a trader this gives us an opportunity to trade in different tradings sites which could help us minimize the risk.

LongerBitcoin

newbie

Activity: 55

Merit: 0

Quote from: richcorner100 on September 18, 2018, 09:41:07 PM

Yes alot of new exchange come in to crypto market now, i can compared in 3 years ago its only about 20 to 30 exchange that operated. But since 2017 untill now the number of the crypto exchange is growth. I think they have seen successfully of Binance that earned alot of money. Just in 1 years Binance has amillion user, and offer some good product to the customer. The important for all exchange is they should manage the exchange just like Binance did, and expand to others country to introduce the product and while to promote advantages of crypto and blockchain technology.

And I am pretty sure as we keep forging ahead; the number of exchanges will keep growing in number the more. We can certainly see so many projects springing up already which revolve around the whole exchange thing and that makes up for a lot of the bullshit we have in the past regarding exchanges and I am sure it would really hint each exchange that as long as they are not the only ones on board, they have to be able to keep up with their game to stay relevant.

aencarnaci

sr. member

Activity: 448

Merit: 281

It is a good thing and a very fantastic advantage for the space to have so many exchanges as that gives room for competition.

We have seen how the space is growing by the day and how it has been so hard for some exchanges to cope with such growth that made the likes of bittrex and binance at some point to stop registration of new users and so on.

With more exchanges with good features, and with very good support and security, I am sure we will start seeing a space in which each exchange is trying to be on top of their game, so they can maintain a top position among the exchanges. We certainly need that Wink

!.

avikz

legendary

Activity: 3080

Merit: 1500

Quote from: Parodium on September 19, 2018, 05:33:48 PM

There are not that many exchanges that actually have the trade volume necessary for you to achieve any sort of reasonable liquidity for your funds, as far as I am aware only the very largest exchanges such as Bittrex and Binance offer extreme liquidity, so you're just going to be liable for price manipulation by playing around on the smaller exchanges, best to avoid them until they grow somewhat.

My two satoshis!!

Having a lot of exchanges will not solve the purpose of sustainable growth. The volume is very important parameter as well. Also I am very much worried to see a lot of Chinese exchanges coming to the market. Majority of them do not have proper support system and proper ethical operational guidelines.

You will see almost all of them won't allow you to withdraw money unless you complete KYC verification. Here you need to remember that China is biggest black market of PII data and a breeding ground of black hat hackers.

So it is always better to use old and reputed exchanges for trading instead of rushing towards the new ones. You will never know what they are going to do with your data!!

pacman7331

full member

Activity: 638

Merit: 118

Though You are right, But there are many exchanges are not good. They just opened an ICO and then Exchange and stopped! That's why good exchanges volumes keep growing and new exchange can't make good volumes. We need the more good exchange, not a lot of exchanges. Good Exchanges are worth for the crypto market but if you count then you will be surprised that how much exchanges are live right now and we don't know them.

kateycoin

full member

Activity: 882

Merit: 104

Quote from: rosemary4u on September 18, 2018, 06:35:28 PM

I think the many exchanges we have is in the right direction. The world of cryptocurrency is growing or advancing almost everyday as new projects are emerging through the ever popular blockchain technology. At the moment, there are many coins that are competing on the market, we need more exchanges to ensure that there is a fair competition on the market so the exchanges can provide the best of services for the numerous crypto enthusiasts.

I think much better that we have a lot of exchanges because as we can see that everyday there's a new coin so much better that we have many exchanges so we have a fair competition. And as of now that many people knowing about crypto more exchanges is better.

Parodium

sr. member

Activity: 1036

Merit: 332

DMs have been disabled. I am busy.

There are not that many exchanges that actually have the trade volume necessary for you to achieve any sort of reasonable liquidity for your funds, as far as I am aware only the very largest exchanges such as Bittrex and Binance offer extreme liquidity, so you're just going to be liable for price manipulation by playing around on the smaller exchanges, best to avoid them until they grow somewhat.

Victorycoin

hero member

Activity: 1134

Merit: 517

Quote from: Gozie51 on September 19, 2018, 08:24:40 AM

Having more exchanges is good but it would have been better if they had a form of regulation so that any of them can't just do what they want all in the name of making profit. Like manipulation that goes on.

Also, having it will create some level for icos who can't afford the price for exchanges to have other options.

That's wishing for centralization, which to the best of my knowledge is not in the spirit of cryptocurrency. Emergence of more exchanges is desirable but there really isn't much to glory in the number, the quality of their services and the importance they attach to overall security, is what would make anyone of them outstanding.

At any rate, something to be aware is that with this increasing number of exchanges, there would likely be more incidence of hacking. That would simply mean, a good numbers of the exchanges won't be around for long except they mean business.

mostkey

sr. member

Activity: 742

Merit: 253

Quote from: liuqi on September 19, 2018, 06:58:45 AM

Quote from: rosemary4u on September 18, 2018, 06:35:28 PM

I think the many exchanges we have is in the right direction. The world of cryptocurrency is growing or advancing almost everyday as new projects are emerging through the ever popular blockchain technology. At the moment, there are many coins that are competing on the market, we need more exchanges to ensure that there is a fair competition on the market so the exchanges can provide the best of services for the numerous crypto enthusiasts.

The crypto world is increase the altcoin and increase the exchanges but we are all growing so technology is improved and scam projects also increased so peoples are not ready to participate in new exchanges. I think already many good exchanges are available but few promising exchanges is listing the more cryptocurrency. So we need good altcoin in this situation because enough exchanges are available in the market

This is what I like about the fact that with so many exchanges coming now it's not a good thing where there are a lot of scam exchange cases, it scares many people and in the end they don't try anything new that risks losing a lot of money, can't be blamed that many frauds have entered the market today in the name of ICO and good exchanges, returning to the assessment of many people, I personally to choose an exchange that is definitely its existence and good achievement, something new is very dangerous in this crypto world.

Iykecollinz

copper member

Activity: 294

Merit: 1

I am only particularly worried about the genuinety of these emerging exchanges, a lot of exchanges have crashed in the past and so many made away with people's funds, the proliferation is good, at least it will give a wider option for traders to make choices and listing to be made easier but these exchanges to be regulated should be more worthwhile.

KXC247

jr. member

Activity: 294

Merit: 1

Its quite good that many exchanges exist in this industry now. The importance of having many exchanges is that, their would be good volume in this market with many exchanges. This is the advantage

Topic: THE IMPORTANCE OF THE MANY EXCHANGES (Read 282 times)