It seems to me that exchanges spoil the market as well as bad new projects. Because one way or another, they take away part of the funds of investors and traders who could do the best service to the market. However, there is little to be done about it, after all, the crypto market is a market of freedom, which means that bad projects and bad exchanges will take place here. A much more important task will be the development in us of the ability to distinguish good from bad.
Topic: Too many exchanges? - page 2. (Read 21372 times)
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 we can consider it as beneficial since it provides more options for the investors and traders but at the same time, it can confuse some who are not knowledgeable enough on picking a good exchange. They can choose a good exchange by simply looking at the fees they are going to need to pay and if they are not going to pay attention on the fees, they may end up choosing the wrong exchange. So the thing here is that the negative effects may only occur if we are going to be careless on our decisions. 
many exchanges serve as competition aimed at reducing monopoly transaction fees. traders can have trading options with a 0.5% maker / taker requirement and move to an exchange that is only 0.075% with the condition of holding their utility token. Then it also functions to see which exchanges have the highest volume with different price ranges, this is very interesting for arbitrage.
yes, I think with more and more exchanges, it's not too problematic for users. maybe more profit with more exchanges now. we just need to choose which exchange has many benefits. with many exchanges I think is something positive. I think this is a business competition that is not detrimental to us all, and they will surely create something new to make users interested and join in the exchange.
I think the more exchange means more volume and competition and difference prices and traders will definitely choose good ezchange and popular from investor.
But you need to only choose trusted exchanges because there are some them are scammer and delay the transaction on your account. Also asking for KYC but will reject your information.
But you need to only choose trusted exchanges because there are some them are scammer and delay the transaction on your account. Also asking for KYC but will reject your information.
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?
If we have many exchanges they can compete and improve their services for us. we will see which exchange has the potential to exist for long term and we will see also which exchange has its own unique idea how it could help us traders. we will find better and let them prove their self that they are worthy for us in this field. hoping that their will be exchange that will meet our expectations.
If we have a lot of crypto exchange it is good because it helps crypto user to buy and sell their coin or to increase the value of the coins. But the negative impact of this is when the exchange is close with high trade of volime of trade possible to decrease the price of the coins and the worst part of that is when the exchange turn to scam which is not good to happen.
many exchanges serve as competition aimed at reducing monopoly transaction fees. traders can have trading options with a 0.5% maker / taker requirement and move to an exchange that is only 0.075% with the condition of holding their utility token. Then it also functions to see which exchanges have the highest volume with different price ranges, this is very interesting for arbitrage.
It been good if theres a lot of exchanger so that many choices where traders wants to trade.
And i think its better to have many exchanger so that trader can choose what is legit and choose where the cheap fees.
as far as I know, exchangers are businesses that have a very large income, even that is quite a lot every day. many exchangers are indeed good enough if they are all trusted, unfortunately, at the moment only large markets are highly considered because many people wait for IEO from there.And i think its better to have many exchanger so that trader can choose what is legit and choose where the cheap fees.
for now, I also only choose well-known exchangers such as binance, okex, kucoin, huobi, and other markets that have great trust. Well, I hope other markets can also have the same popularity. it is good to see all exchangers have the same trust and low fees.
It been good if theres a lot of exchanger so that many choices where traders wants to trade.
And i think its better to have many exchanger so that trader can choose what is legit and choose where the cheap fees.
And i think its better to have many exchanger so that trader can choose what is legit and choose where the cheap fees.
Too many exchanges? It does not matter! In fact, I am very happy, because the opportunity to arbitrage is very large. But you have to be careful (never store any crypto assets in the exchange wallet) considering that there are currently many cases of exchange hacking. In addition, you also have to be selective in choosing exchange. Because at this time a lot of them are closed suddenly, even disappearing before our crypto assets are withdrawn.
More exchanges mean more Arb opportunity. More exchanges also reduce a lot of risk if one of them hacked or exit scam.
Too many exchanges offer people with different opportunities and often it becomes hard for people to use the right exchange which suits their needs. Well certain exchanges are totally out there to scam people. I personally wish that these exchanges at least be regulated by some agencies to protect innocent people from scammers. 
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?
There are a lot of benefits and no negative impact if we have too many exchanges, the more the merrier and, they are going to compete in giving traders features, benefits and rewards and that will be good for traders, and those who cannot keep up will just close shop just like what happened to Nova and Coinexchange, they need to keep up or ship out of this business.
That's actually good, exchangers usually compete to provide promotions and benefits to users. The more intense the competition the more we can see which exchanger is the best. Many exchangers who accept shit coins and shit tokens make users uneasy who expect the best coins to be in each exchanger.
I think good exchanges always have lots of promotions to attract more new investors and if that exchange has a high trading volume then that exchange will be more popular. The market currently has over 100 different exchanges but only 10 worthy exchanges are being selected during this period because these exchanges are cheap and trusted by many investors.I personally do not rely on the rating at Coinmarketcap to evaluate an exchange because the data at Coinmarketcap is inaccurate and it is best to self assess when participating.
More exchanges mean more Arb opportunity. More exchanges also reduce a lot of risk if one of them hacked or exit scam.
For me, I feel having a good number of exchanges is a good. It's not every coin that can get listed on big exchanges like Binance and Huobi. There has to be other exchanges to cater for small coins. But on the other hand, too much of anything is bad. The amount of Cryptocurrencies has exceeded over 2000+ so that's why we have man exchanges. >100. There's no reduction of scam even if they're few in number.
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?
If we have many exchanges they can compete and improve their services for us. we will see which exchange has the potential to exist for long term and we will see also which exchange has its own unique idea how it could help us traders. we will find better and let them prove their self that they are worthy for us in this field. hoping that their will be exchange that will meet our expectations.
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 am watching as the number of second-rate new exchanges increases, the number of weak coins and tokens that are often of no value to the blockchain industry increases. These countless tokens only need to ensure that their creators were able to enrich themselves using these tokens. They are often fraudulent projects and after a short period of trading, the project team disappears somewhere and does not get in touch with the community. I believe that the number of exchanges spoils the reputation of the cryptocurrency market. 
That's actually good, exchangers usually compete to provide promotions and benefits to users. The more intense the competition the more we can see which exchanger is the best. Many exchangers who accept shit coins and shit tokens make users uneasy who expect the best coins to be in each exchanger.
More exchanges mean more Arb opportunity. More exchanges also reduce a lot of risk if one of them hacked or exit scam.
Many exchanges breed competition which mjglqw fairly mentioned. And I think it's not bad when users had a wide range of exchanges - they have what to choose from and try different options for each exchange.
In my opinion, I feel like the more exchanges in the crypto world the better since this means the masses will be able to buy crypto using their local currencies - for example korean exchanges have Korean Local currencies. Competition between exchanges is also healthy since platforms will be fighting for users which means the trading fees will remain competitive as well. Exchnages in the crypto space differ in what they have to offer to the users, thus giving the users different innovative features. Additionally,the many crypto exchanges means that local fiat currencies get to partner with crypto exchanges making it easier for new entrants. However, too many exchanges in the crypto space means that the credibility of some of them is questionable.
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