Topic: Too many exchanges? - page 22. (Read 21374 times)
there are so much exchange is really positive to cryptocurrency world because the increasing number of exchange can affect the volume of crypto
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?
that's normal. Competition is always going on and people who want to make more money are at risk. The bad trading floors will surely have to collapse, the strong ones will survive. There are many trading floors are created quite interesting. It gives investors more options and transaction fees will drop sharply because of competition. It is totally beneficial to us. 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 believe so! The crypto world has waay too many exchanges but the trouble is not the number but the gold diggers.People have seen that places like binance makes way too much money and a lot of people started out their own exchange websites with minimum effort and than we end up with bunch of websites with almost no good GUI and no proper tech behind it and definitely with incredibly low volume and just sits there basically just existing for couple people and than call themselves a crypto exchange.
I understand the top 10 exchanges by volume and I can definitely understand the local exchanges where you can basically get your fiat currency in your bank account when you want to cash out (not everyone lives in USA so no coinbase is not an option) but all others are definitely useless and just clouds the already good ones at the top.
If they looked like they want to take over the crypto world and become the number one exchange I would understand but most of them don't even have proper effort put into them neither.
Now as the number of new cryptocurrency increases, the number of new crypto exchange is also increasing. Many of them are shown fake trade volume in exchange and due to which many are victims of scam. So we have to be aware of this.
With alot of competition between exchange, so they will offer something different by offer more benefits to attrack trader. Which exchange that offer better product they will be number 1, and others exchange that not creatif to offer something different and more quality product, they will decrease in trading volume and number of trader. So more exchange in the market is good for trader and crypto community.
Usually one of the reasons why I do not have problem with more exchanges popping up. We have seen so many exchanges coming up with great ideas, and then trying to bring something fresh to the space. It is only when there is no competition that people will always just have to deal with any bullshit rubbed on them, but in this way, when there are lots of exchanges trying to do right and making sure they also get some attention, no exchange will want to end up flopping in most cases. For instance, we know when Binance came with a very low fee, that really challenged a lot of exchanges both new and old, and that is what I believe we should be seeing more of.
I agree with your opinion, so far as it comes to exchange platform Binance is the best. It has almost coins needed. And lets see for new projects to be appeared on the market.
I have recently popped on one, I become interested about, since Im looking to start trading with a low fees and start investments.
SociumTrade platform - not much information yet out, i was surprised after checking their Roadmap, they have been working on product like a couple of years and yet its just about to be released. One thing I like about it, that if the project going to work well, they have an investment pools and consortsiums, where you can join in with investments and trade with others, i haven't come across that option before in any exchange. As for other options, mainly same as in exchanges, just more advanced. And If you know one, give a hint and Ill check. As thats what Im looking for.
They have a lending funds option too, like an online pawnshop ...still need more details on how it will work and what you will need to take a loan.
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?
We are going to have more exchanges coming up in some days to come and that means we should not complain of the few we have now. Cryptocurrencies market is still new and time will come that every city and villages are going to have exchanges . We are at the developmental stage and the only way, we can expand on cryptocurrencies development is to open more Cryptocoins related business and projects with legit mind as many as possible. Another thing is that I would add more security into some of them.
But the more we have the better.
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?
We are going to have more exchanges coming up in some days to come and that means we should not complain of the few we have now. Cryptocurrencies market is still new and time will come that every city and villages are going to have exchanges . We are at the developmental stage and the only way, we can expand on cryptocurrencies development is to open more Cryptocoins related business and projects with legit mind as many as possible. With alot of competition between exchange, so they will offer something different by offer more benefits to attrack trader. Which exchange that offer better product they will be number 1, and others exchange that not creatif to offer something different and more quality product, they will decrease in trading volume and number of trader. So more exchange in the market is good for trader and crypto community.
Usually one of the reasons why I do not have problem with more exchanges popping up. We have seen so many exchanges coming up with great ideas, and then trying to bring something fresh to the space. It is only when there is no competition that people will always just have to deal with any bullshit rubbed on them, but in this way, when there are lots of exchanges trying to do right and making sure they also get some attention, no exchange will want to end up flopping in most cases. For instance, we know when Binance came with a very low fee, that really challenged a lot of exchanges both new and old, and that is what I believe we should be seeing more of.
I agree with your opinion, so far as it comes to exchange platform Binance is the best. It has almost coins needed. And lets see for new projects to be appeared on the market.
I have recently popped on one, I become interested about, since Im looking to start trading with a low fees and start investments.
SociumTrade platform - not much information yet out, i was surprised after checking their Roadmap, they have been working on product like a couple of years and yet its just about to be released. One thing I like about it, that if the project going to work well, they have an investment pools and consortsiums, where you can join in with investments and trade with others, i haven't come across that option before in any exchange. As for other options, mainly same as in exchanges, just more advanced. And If you know one, give a hint and Ill check. As thats what Im looking for.
With alot of competition between exchange, so they will offer something different by offer more benefits to attrack trader. Which exchange that offer better product they will be number 1, and others exchange that not creatif to offer something different and more quality product, they will decrease in trading volume and number of trader. So more exchange in the market is good for trader and crypto community.
Usually one of the reasons why I do not have problem with more exchanges popping up. We have seen so many exchanges coming up with great ideas, and then trying to bring something fresh to the space. It is only when there is no competition that people will always just have to deal with any bullshit rubbed on them, but in this way, when there are lots of exchanges trying to do right and making sure they also get some attention, no exchange will want to end up flopping in most cases. For instance, we know when Binance came with a very low fee, that really challenged a lot of exchanges both new and old, and that is what I believe we should be seeing more of.
I agree with your opinion, so far as it comes to exchange platform Binance is the best. It has almost coins needed. And lets see for new projects to be appeared on the market.
Yeah, there are truly a lot, because everybody are hyping around it and people who are more professionals in crypto see how profitable is it to create a trading platform. I mean it's good that there are existing, but maybe it should more under control, so it would be more easy for us to differentiate which are one are worth to use and which is scam. Maybe some advice?
I see it kinda different - there are exchange platforms and there are trading platforms, some are comprehended, soma are just for one crypto type, but I haven't found any that has all features in one. I personally would like to attract funds to trade, because I do not have enough funds on my own, also because there is no such possibility on those platforms where I trade. We need a trading platform with many options. I know some like cryptocompare or localetherium where I trade now.
Yeah, there are truly a lot, because everybody are hyping around it and people who are more professionals in crypto see how profitable is it to create a trading platform. I mean it's good that there are existing, but maybe it should more under control, so it would be more easy for us to differentiate which are one are worth to use and which is scam. Maybe some advice?
With alot of competition between exchange, so they will offer something different by offer more benefits to attrack trader. Which exchange that offer better product they will be number 1, and others exchange that not creatif to offer something different and more quality product, they will decrease in trading volume and number of trader. So more exchange in the market is good for trader and crypto community.
Usually one of the reasons why I do not have problem with more exchanges popping up. We have seen so many exchanges coming up with great ideas, and then trying to bring something fresh to the space. It is only when there is no competition that people will always just have to deal with any bullshit rubbed on them, but in this way, when there are lots of exchanges trying to do right and making sure they also get some attention, no exchange will want to end up flopping in most cases. For instance, we know when Binance came with a very low fee, that really challenged a lot of exchanges both new and old, and that is what I believe we should be seeing more of.
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?
this can benefit trader by paying lesser transaction fee since new trading exchange usually offer less transaction fee to attract traders but the risk that traders may face is if this exchanges are secure and safe to use. I may suggest to trade only to most reputable crypto exchanges for you investment security. 
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?
Pro- competition, less fees and improvement areas can be sustained, opportunities for arbitrage, liquidity choices and I can't think of others
Cons- Confusing for beginners and new to crypto
Overall it's good for the economy as it will have more areas for opportunities and improvements as well as fees wise
Exchanges are essential in cryptocurrency trading and investing, we need to see more development and growth in cryptocurrency and more player need to come to market. The cryptocurrency is growing and expanding, so exchange should grow as well!
The more the merrier and there are some advantages to the trader when there are many exchanges which will give the trader options to choose from. All you need to do as a good trader is to do your own research among the options of exchanges that there are and identify the ones to use depending on your own preferences. Some may not be critical about security but lesser service charge while other may be serious about the safety of their coin and may not worry too much profit.
Yes, i agree, there are lot of exchanges now, and people can choose. But i don't understand why so much people are afraid of verification? And when in January btc was 20k, many exchanges closed registration.
well, exchangers are a profitable business, but of course it is not easy to make it survive in the many exchangers at this time. it is easy, which cannot survive, and develop their projects, so it will be difficult to develop. Well, I think it has its own disadvantages and advantages
I don't see any problem with too many exchanges. Each of these exchanges has their own differences such as transaction fee and range of coins in the trading. Competition would be good for better performances. From these exchanges you can choose the good ones.
Yes, i agree, there are lot of exchanges now, and people can choose. But i don't understand why so much people are afraid of verification? And when in January btc was 20k, many exchanges closed registration.
There are too many exchanges where you can trade but be careful with some of them do that you will not loss your fund. However, before you trade anywhere just try and verify the exchange. Best of trade.
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