Too many exchanges? - page 3. | Bitcointalksearch.org

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Quote from: otandelapaz on September 18, 2018, 11:44:22 AM

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 only see the positives and the benefits, the more exchanges the better competition and they will offer good features and incentives that are not on other exchanges that in the end, investors will end up the winner, just last week coinexchange.io is one of the last exchange that bid us goodbye but there are many more coming in, and unless they are competitive they will be forced to close shop

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Quote from: pinggoki on October 04, 2019, 09:31:42 AM

The advantages of having more exchanges is that it will produce a competition among all exchanges to prove who is the best and the more competition will occur the greater service they'll provide and that would be a some sort of good news for us customer. However, this will be a nightmare for newbies because it can cause confusion since they had no idea that much with regards to qualifications of being a good exchanges.

In addition it is a sign of a growing market as these exchanges would not start their business if they are not seeing a potential to be profitable in the market. Though there are already good and more liquid exchanges in the market, there are still people who are using small exchanges as not all the coins and tokens are listed in big exchanges, there are small projects that can only afford to get listed in smaller exchanges so there's an equal opportunity for every exchange to gain clients.

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Quote from: otandelapaz on September 18, 2018, 11:44:22 AM

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?

The advantages of having more exchanges is that it will produce a competition among all exchanges to prove who is the best and the more competition will occur the greater service they'll provide and that would be a some sort of good news for us customer. However, this will be a nightmare for newbies because it can cause confusion since they had no idea that much with regards to qualifications of being a good exchanges.

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Quote from: otandelapaz on September 18, 2018, 11:44:22 AM

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?

Having too many exchanges is not too bad, as long as these exchanges are legitimate and not scams.

I believe it's not so bad because having many exchanges means crypto reserves are not limited to certain exchanges. Having a decentralized network of exchanges sounds more inline with the true and original goals of cryptocurrency.

d3nz

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It is great having a lot of exchanges since you can choose which exchange is having a good price of each token/coins. And, a lot of exchanges of crypto have a different fee when doing trading and withdrawal.

I prefer using exchanges that are easy to use and fast deposit and withdrawal of tokens. A lot of exchanges has different features so it will depends on the user what will be the best to use.

Greed Dev

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I think competition is essential in society or in every transaction, if there is competition, then the society, the economy will develop, the more benefits for customers, they have to compete to win customers. Since then customers have more options, can exchange transactions faster with lower costs. However, there are still many scams in transactions, so before deciding to pump money, you should thoroughly study, check people's reviews, check the fees. After all, I still appreciate the competition, which is a good thing.

Shasha80

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Sorry to say I am among those who do not agree with many exchanges, because what happens next is the users themselves
harmed. Examples of the quality of service there is a lack of credibility from scam traders, no volume, delisting coins to
with difficulty in withdrawing coins. For those who are experienced it is not a problem to easily choose exchanges that can
trusted. But for a newbie it can become a nightmare, when it is difficult to make a withdrawing and deposit because bad system
or make a bad security system make exchanges easily hacked. But the positive side is that there are many exchanges there will be
many trading options and the development of the crypto world will be more rapid. Finally back again to each decision.

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Quote from: AicecreaME on October 03, 2019, 03:05:41 AM

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Quote from: StayFly on October 02, 2019, 11:24:46 AM

It is good to have too many exchanges, my friend. the more exchanges we have the more the decentralized the market is going to be. We need as many exchanges as possible both centralized and decentralized. the more we have the better in terms of the user's choice, freedom, and security.

Yeah I agree, the more Exchange then competition between the Exchange will be more stringent, and this is good for the development of the Crypto world. We know that every day there are many Cryptos that are born, so we also need lots of Exchange to accommodate the Crypto.

I agree too. The more exchangers we have, the more choices we have in Trading our altcoins, since not all of the exchangers have the same transaction fee and prices of the altcoins in each of them, because of that, they are competing each other while it is giving us benefits. Though I hope they will make it happen to have a hybrid cryptocurrency exchange that strengthen and lower the disadvantage of both Centralized Cryptocurrency Exchange and Decentralized Cryptocurrency Exchange.

Dont forget that we are in the bear market more exchange will be difficult to survive with this kind of market . take a look at coinexchange there announce that they will close this year and more exchange will follow if this bear market will continue. You have many choices to trade but most of them will close and worst is it might be scam traders and faked hacked incident.

Woshib

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Even with all exchanges on the market, im not satisfied at all, i remember one time i was reading an article someone had his account locked from that HitBTC exchange for 6 months with 12 BTC, asking for KYC and even that he sent all documents he was just getting random emails from the support team, keep in mind that HitBTC is one of the largest exchanges on the market, i don't trust any exchanger , Not You Keys , Not Your Coins.

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There was another exchange 50x.me
Here is a description of: https://www.youtube.com/watch?v=cYoKpjXdv0c&t=10s

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Quote from: StayFly on October 02, 2019, 11:24:46 AM

It is good to have too many exchanges, my friend. the more exchanges we have the more the decentralized the market is going to be. We need as many exchanges as possible both centralized and decentralized. the more we have the better in terms of the user's choice, freedom, and security.

Yeah I agree, the more Exchange then competition between the Exchange will be more stringent, and this is good for the development of the Crypto world. We know that every day there are many Cryptos that are born, so we also need lots of Exchange to accommodate the Crypto.

I agree too. The more exchangers we have, the more choices we have in Trading our altcoins, since not all of the exchangers have the same transaction fee and prices of the altcoins in each of them, because of that, they are competing each other while it is giving us benefits. Though I hope they will make it happen to have a hybrid cryptocurrency exchange that strengthen and lower the disadvantage of both Centralized Cryptocurrency Exchange and Decentralized Cryptocurrency Exchange.

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New exchange is coming, good thing. It is difficult to say what all the exchanges are coming to for good purpose?
Some new exchanges have already shown their quality. Because of the popular exchanges in the market, it is difficult to get volumes for new exchange.
That’s why they use different way to get on the CMC top list. Before using the new exchange, you need to verify about them for safety.

Freddy11

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This is quite obvious because of the growing popularity of Crypto world, there is obvious increase in Crypto Exchanges, so that’s something that’s very much understood part and is not exactly a bad thing. But the bad thing is if we are not selecting it properly. And I don’t think this is even a problem at all. Why anyone in this world will wish to go for something new instead just pick established options, as I don’t see any logic of trying to be cute.

sarabanda

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More exchanges now are a scam and use trading bots for volume,I was prefer old exchanges like bittrex

man22555

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I think there can't be enough exchanges.. Competition is needed for young markets and in the end, only the best ones will establish!

Pearls Before Swine

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Quote from: gentlemand on September 18, 2018, 02:04:20 PM

No one loses out by letting enough people throw enough shit at the wall. We benefit from what decides to stick.

Agree with this and I really dont think there are too many exchanges right now and that, by a process of natural selection, the bad ones will bankrupt themselves and the good ones will prevail. Myself, I think its great to be able to trade crypto 24/7 and to have a broad selection of exchanges to choose from. Some have coins that others dont have and I think its even necessary for a myriad of them to exist.

It isn't always going to be like this tho. Ten years after bitcoin was birthed, we are still in pioneer territory with regards to cryptocurrency. Gov'ts haven't started to regulate exchanges like I thought they might but I think it will happen eventually, and we will start to see a consolidation. It'll be interesting to see if any buyouts occur. Didn't Xapo get bought by an exchange? I know Xapo isn't an exchange, but the principle is the same.

Quote from: Meowth05 on September 30, 2019, 04:05:53 AM

Indeed, it is good to hear that there are many exchange are appearing but it is alarming as well. Do not just choose a random exchanges if really care to your assets.

Don't think anyone is saying one should choose randomly. The question is whether it is beneficial to have so many choices, which I assert it is, providing that they're legitimate.

desticy

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Most exchanges do not need anyone. And unfortunately, due to the fact that projects are not able to raise funds, they conduct listings on these strange dubious exchanges on which there are no volumes.
Thus, projects drive themselves into a dead end. Instead of developing, reconstructing, and trying to collect the necessary amount of funds again, they go to a bad exchange and sell out.
There are a lot of bad projects and bad exchanges, but this is only temporary. More and more exchanges will be closed every month due to their futility.

StayFly

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It is good to have too many exchanges, my friend. the more exchanges we have the more the decentralized the market is going to be. We need as many exchanges as possible both centralized and decentralized. the more we have the better in terms of the user's choice, freedom, and security.

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Quote from: AicecreaME on September 30, 2019, 03:29:40 AM

Quote from: Leo on September 12, 2019, 04:25:35 PM

Quote from: otandelapaz on September 18, 2018, 11:44:22 AM

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?

Majority of the new exchanges are not beneficial to the market, there are lots of those exchange that support scam tokens to be listed on their exchange.

Almost all of those new exchanges are involved in fake volume manipulations, giving out false volume so as to deceive investors in investing on their exchange, I know of some certain new trading exchange that had fold up due to low trading activities on their exchange

Etherdelta and Forkdelta is the best definition for this. Lots of shitcoins are on their site, all of the airdrops of not that good coins are all there, and yes, their system sometimes gives the wrong information about a certain coin, so basically you don't know if the profits you are seeing in your portfolio on their site is true. I always trade on the trusted ones like Hitbtc, binance, livecoin, and Idex, I only trade on exchangers that is new to me when I don't have a choice because they are the only one who have that certain coin for example.

This etherdelta was good when its first lunch i earn many eth backthen From free airdrops. not that bad exchange before but not now, more of the token there now has no value and no buy orders. Idex was good becuase they can delist shit token when the token has no volume.

There are many new exchange created and the only porpuse is to make profit from traders grab some listing fees from token owner but more of them will colapse.

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Quote from: wywoc on September 14, 2019, 01:14:29 PM

Quote from: otandelapaz on September 18, 2018, 11:44:22 AM

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 competition is always beneficial to customers. We have more options, we can choose the best exchanges with better fee and loyalty programs, and projects also have many options to get listed. But we need to consider about their user interface, liquidity and security.

Indeed, it is good to hear that there are many exchange are appearing but it is alarming as well. Do not just choose a random exchanges if really care to your assets. It is beneficial in the way of we could choose an exchanges that would satisfy our desire, or have a better service compared to the other one. But it could be a troublesome to new bud traders because it would confusing which among them are credible one. Do not just considet the interface and security but the integrity as well.

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