Topic: Too many exchanges? - page 13. (Read 21388 times)
If you want to trade big,then you need to choose the exchanges with big trading volumes,you have to verify the trading volume on the exchange you were picking is real of fakes by visitng the trade order history on their trading window.But having many exchanges is good but there maybe some scammers are also there so don't deposit any money at first.
We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?
sure, it would be great when they will be united and have the unique liquidity
Who cares? It's still the users who will decide on what exchange they want to use. It's just like games, restaurants or services that you want to use. The one who offers the best experience will of course have a greater demand and will have thousand of users until those ugly and small exchanges will just die and vanish because they know its not working and not making any returns for them.
I think many new exchanges want to follow successfullly of Binance, just less than 1 years Binance become the biggest crypto exchange in the world and they make amillion dolar. Every exchange will be offer benefits to attrack new users, and that mean will be more competition on the market. More.exchange also mean more new people will join this crypto community.
Speaking about the amount of exchanges, I think that it's good for the market. It needs a competition. It's a survival of the fittest.
Of course there is also a negative impact. It's too easy to make a scam exchange and steal your coins. The community needs someone to control all exchanges. Some sort of commission maybe.
Of course there is also a negative impact. It's too easy to make a scam exchange and steal your coins. The community needs someone to control all exchanges. Some sort of commission maybe.
At present there are many exchanges and there are also very many who are indeed potentially scams. we really need to be able to choose which one is really suitable for us to choose as percussion for trading and also for large volumes.
Yes, there are many exchanges around but this is a sign of more threat rather than facility. I think that many of them are scams and will exploit you and your confidence if you put in your money. Better stay stick to the exchanges that have made names that are Coinbase and some other exchanges so one should choose wisely and invest wisely because same goes for the coins you invest in. 
the amount of exchange will make the variable more attractive in accordance with the objectives of each party, but if it is not proportional to the quality, it will be very weak in gaining volume. But in the end there will be competition that leads to a more popular and reliable market and that's where the real quality will emerge.
We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?
I think the more the exchanges we see everyday, the more healthy will be the competition between the exchanges which will actually help the traders or you can say it will be more beneficial for the traders. The only thing to worry is that some people might open exchanges to get the deposits of people and run away with them. We should be careful and do not invest more in new exchanges.
At present there are many exchanges and there are also very many who are indeed potentially scams. we really need to be able to choose which one is really suitable for us to choose as percussion for trading and also for large volumes.
Well, its not so hard to choose when it comes to exchanges. Even if you want to choose one exchange, go for Binance. If you need to trade in more than one exchanges the you can go for Bittrex, kucoin etc . You do not need to trade in newly created exchanges or exchanges with low volume. Also there is no incentive in choosing any new exchange as the fee for the trades is almost similar everywhere.
8% of crypto trading volume in February 2019 is allegedly inflated. A new report, published by the data science team of Crypto Integrity, has identified wide-spread malicious practices across top exchanges: OKex, Bit-Z, ZB.COM, CoinBene, LBank, Huobi Global, BW, HitBTC, IDAX, BitMart, CoinTiger. The analysis of order books and trades of selected liquid symbols has shown that on average per symbol 86% of trades and 88% of the volume have been classified as artificial (HitBTC and Huobi excluded). On some symbols the detected fake volume has reached 100% (the details and the methodology are below).
full article here:
https://medium.com/crypto-integrity/fake-volumes-in-cryptocurrency-markets-february-report-fec9329f1f98
full article here:
https://medium.com/crypto-integrity/fake-volumes-in-cryptocurrency-markets-february-report-fec9329f1f98
The more the exchanges the better. Remember not all exchanges succeed and one more thing I knew about some exchange they have fair price for every coin that is listed on their site but the credentials needed to trade in there is so difficult or complicated. And sometimes users tend to keep their identity hidden and rely on easy come easy go exchange sites. I also prefer to keep my identity away for personal reasons. I mean not all or everyone likes the same exchange, we all have different taste or should I say likings so if one cannot satisfy their costumers I'm sure there are tons of it waiting for them.
of course it gets better, the more good the cryptocurrency community is, because there are so many choices that we choose, and of course the benefits, this community really develops with active development every month and year
Alot of exchanges is good for crypto industry but all that exchanges should be increase the security level because we have seen alot of case about hacking. New exchanges should be development decentralized exchange with more features so alot of trader will prefer to use it than centralize one.
too many exchanges and every where exchanges but maybe most safe and easy exchange is only binance dex are suck to me
If there is too much competition on something then the service or product we get though from it will be more better so actually it is good thing to have more crypto exchanges but not many of them trusted now so they are just numbers,usable exchange in daily terms are very less.
At present there are many exchanges and there are also very many who are indeed potentially scams. we really need to be able to choose which one is really suitable for us to choose as percussion for trading and also for large volumes.
I want to believe that just a few exchange can not accommodate or list the whole thousands and yet to come coins/tokens. More exchanges, more listing varieties for projects.
I do not see this as a problem, on the contrary, competition leads to the fact that exchanges begin the struggle for users, from which we gain to win. I used many exchanges, the best of which I consider Binance (with registration) and ChangeNOW (without registration).
Many exchanges = more competition = better exchanges
I'd prefer many choices rather than just a small number of exchanges handling majority of the cryptocurrency market. I couldn't think of a downside as of now. But yeah, hopefully we get more decentralized exchanges in the future.
I'd prefer many choices rather than just a small number of exchanges handling majority of the cryptocurrency market. I couldn't think of a downside as of now. But yeah, hopefully we get more decentralized exchanges in the future.
In general you are correct. The more competitors join the game - the more profit goes to a consumer by better conditions, new features and so on
Yes when i visiting coinmarketcap, i see alot of new exchanges enter the crypto market. Offcource this will be make positive and negatif impact. The positive impact is this community keep bigger because more people will joining and use that exchange , and negatif impact is that exchange have issue of security because all of them is centralized exchange.
It giving us a lot of options which is good but we can't deny also that some of them were greatly just a clown were nobody have tried to trade cause of their reputation and looks like just a scam. This is also one reason why many investors and traders were losing their accounts because of being hack. It is better for us to look for exchanges that have already established good market volume and have a legit team members.
Old markets are always good for trading because we know how potential are they going to be because they have very good development in the background. Potential development from those teams will always help us to hold those coins in long term too.
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