Too many exchanges? - page 4. | Bitcointalksearch.org

BitcoinHunt3r

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Quote from: AicecreaME on September 30, 2019, 02:29:40 AM

Quote from: Leo on September 12, 2019, 03:25:35 PM

Quote from: otandelapaz on September 18, 2018, 10:44:22 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.

That 2 sites, maybe alternative for developer when they can't listed their tokens anywhere else. Maybe each exchanger have their positive and negative feedback. As long they are still trustable and not scam their users, i think any exchanger will be good with their own positive and negative things like fake volume, or maybe anything else.

AicecreaME

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Quote from: Leo on September 12, 2019, 03:25:35 PM

Quote from: otandelapaz on September 18, 2018, 10:44:22 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.

wywoc

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Quote from: otandelapaz on September 18, 2018, 10:44:22 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.

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Quote from: Lapatai on September 13, 2019, 03:56:44 AM

The bad exchanges die off quite quickly due to lack of liquidity, security or popularity.
In my opinion, there should be about five of it.

Yeah you picked a good point.
Many exchanges who had a mind of scamming are got kicked from the market due to these reasons.
But still people have some faiths on many exchanges.
But i would only suggest for the trusted and reputed ones.
Binance can literally be a good choice.

bitbunnny

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Quote from: 1BTC EQUALS 1CAR on September 14, 2019, 07:38:06 AM

I also wish that that there are only limited exchanges like 20-25. Everyday or every week, I always see a new exchange getting advertised or announced in bitcointalk. Imagine if we only have few exchanges with quality service then we can always have healthy growth on altcoins. But because there are thousands of them out there, the volume are scattered that make the btc and altcoin price to moon.

We are flooded with exchanges, that is true. And the worst thing is that many of them don't run legitimate business and don't protect their users in adequate way.
I still hope that with time some kind of selection will be done and that only the trustworthy exchanges with quality services will survive. Hope that this trend of new emerging exchanges will stop soon.

Renampun

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Quote from: otandelapaz on September 18, 2018, 10:44:22 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 feel the community greatly benefited,
The Exchange that continues to emerge is evidence that competition in the crypto business is healthy,
the exchange which is bad in service to users and complicated transactions will be eliminated.

1BTC EQUALS 1CAR

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I also wish that that there are only limited exchanges like 20-25. Everyday or every week, I always see a new exchange getting advertised or announced in bitcointalk. Imagine if we only have few exchanges with quality service then we can always have healthy growth on altcoins. But because there are thousands of them out there, the volume are scattered that make the btc and altcoin price to moon.

DmitFomin

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I like a large number of exchanges because competition is growing and large exchanges are trying to improve the service and services that they offer, so as not to lose customers and not lose competition. But I agree, it would be convenient to trade a large number of coins on one exchange and not use a dozen different exchanges. I hope in the future the number of exchanges will become less and their quality higher.

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Quote from: conected on September 13, 2019, 08:40:03 AM

Quote from: Botnake on September 13, 2019, 01:19:04 AM

Quote from: anth36jian on September 12, 2019, 06:08:41 PM

Now exchangers and exchanges in general have begun to appear on the market much more, will they compete with others? this is another question, but as for me it’s difficult, everyone has long taken their place, but got on WhiteBit the exchange what do you think, are there any chances?

I heard this exchange, looks like a lot of people are shilling this exchange in the forum, it was just recently launch but it already have a good volume, but I haven't use this exchange yet, I still with the old exchange but reliable.

Too many exchanges is good for the market because it's expected that the adoption will increase, with that, exchanges are in demand.

- Exactly, many exchanges will create an incentive for old exchanges to continue to move up, it will even be an opportunity for new exchanges to show their full potential and strength in the market, and we as users of this market, we have the right to choose what's good for us. However, we should still be careful when a lot of exchanges are created to deceive our information and steal our money, many people have confirmed their information is leaked, so if we are not sure about an exchange, stop using it and select exchanges that are trusted by everyone

Of course, new exchangers have won trust in the market for a very long time, here you already need to look at all this yourself and draw some conclusions

conected

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Quote from: Botnake on September 13, 2019, 01:19:04 AM

Quote from: anth36jian on September 12, 2019, 06:08:41 PM

Now exchangers and exchanges in general have begun to appear on the market much more, will they compete with others? this is another question, but as for me it’s difficult, everyone has long taken their place, but got on WhiteBit the exchange what do you think, are there any chances?

I heard this exchange, looks like a lot of people are shilling this exchange in the forum, it was just recently launch but it already have a good volume, but I haven't use this exchange yet, I still with the old exchange but reliable.

Too many exchanges is good for the market because it's expected that the adoption will increase, with that, exchanges are in demand.

- Exactly, many exchanges will create an incentive for old exchanges to continue to move up, it will even be an opportunity for new exchanges to show their full potential and strength in the market, and we as users of this market, we have the right to choose what's good for us. However, we should still be careful when a lot of exchanges are created to deceive our information and steal our money, many people have confirmed their information is leaked, so if we are not sure about an exchange, stop using it and select exchanges that are trusted by everyone

stadus

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Quote from: Lapatai on September 13, 2019, 03:56:44 AM

The bad exchanges die off quite quickly due to lack of liquidity, security or popularity.
In my opinion, there should be about five of it.

We need more, if you look at here https://coinmarketcap.com/, the current 24 hours trading volume in total is $49.5 billion, therefore with only few exchange, it is very risky and the market would be affected so hard if an exchange will be hack, if you still remember the mt. gox, that would be the scenario that will happen.

Exchanges that has good liquidity IMO will have to average at least $100 million in trading volume, therefore, with the current total trading volume, we need at least 400 exchanges in the market.

Lapatai

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The bad exchanges die off quite quickly due to lack of liquidity, security or popularity.
In my opinion, there should be about five of it.

Botnake

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Quote from: anth36jian on September 12, 2019, 06:08:41 PM

Now exchangers and exchanges in general have begun to appear on the market much more, will they compete with others? this is another question, but as for me it’s difficult, everyone has long taken their place, but got on WhiteBit the exchange what do you think, are there any chances?

I heard this exchange, looks like a lot of people are shilling this exchange in the forum, it was just recently launch but it already have a good volume, but I haven't use this exchange yet, I still with the old exchange but reliable.

Too many exchanges is good for the market because it's expected that the adoption will increase, with that, exchanges are in demand.

Raboug

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Quote from: otandelapaz on September 18, 2018, 10:44:22 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 don’t think the wide variety of exchangers is something bad. The community is not limited in the choice of exchange. It is somewhat like decentralization. When there was no choice, most of the enthusiasts used Mt.Gox. What happened to this exchange, most know. One of the advantages of many exchanges I think is that it allows each individual trader to choose a platform to their liking and favorable conditions. For, prices, bonuses and special offers are everywhere different. It will not be superfluous, when choosing the exchange you need, read reviews from other users. Examples could be https://revain.org/exchanges/cexio or https://www.trustpilot.com/review/cex.io. Of course, cex.io is also an example. I would not recommend using it, as not the highest ratings. But, maybe someone will find conditions favorable for themselves in this exchange. The choice is always yours.

anth36jian

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Now exchangers and exchanges in general have begun to appear on the market much more, will they compete with others? this is another question, but as for me it’s difficult, everyone has long taken their place, but got on WhiteBit the exchange what do you think, are there any chances?

SlimShadyMmp

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Typically with all the IEO waves there will be many more exchanges to come the only problem is basically what they will be bringing to the table their rate of charges and other promotions With more exchanges that will balance in customers service because most of them will be trying to compete with each other and that a good thing for the user

Leo

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Quote from: otandelapaz on September 18, 2018, 10:44:22 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

mrozansk

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Like there was written before, most of crypto exchanges are using wash trading to pump up their ranking on CMC and attract retail investors and token issuers. However, there are more and more notable initiatives that analyze the quality of exchanges and also montitor their data feeds to look for wash trading patterns. I have shortly analzyed and summarized those inititaltives (like BTI) and their methodologies in my blogpost here : https://empirica.io/blog/independent-initiatives-that-analyze-crypto-exchanges-liquidity-and-quality/
I think it is worth looking at those rankings before opening account basing purely on volume information

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Quote from: stadus on July 22, 2019, 05:57:46 PM

Quote from: neblidex_dev on July 22, 2019, 03:11:46 PM

More exchanges = more options = ~~more chances to get scam~~ = more wisdom = more demand for decentralized exchanges = more decentralized exchanges

Wrong, less chance you mean because with more exchanges, you have a lot of option on what exchange you will use, of course you'll use the most trusted one.

Maybe what he mean is with more exchange there are bad and good exchange, it means there are a lot of chance we will use that scam exchange, like when our tokens only listed in there and then the site closed with some reason. Maybe what he want to say is like that, because we should see positive and negative impact from something like this. So we not get scammed.

stadus

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Quote from: neblidex_dev on July 22, 2019, 03:11:46 PM

More exchanges = more options = ~~more chances to get scam~~ = more wisdom = more demand for decentralized exchanges = more decentralized exchanges

Wrong, less chance you mean because with more exchanges, you have a lot of option on what exchange you will use, of course you'll use the most trusted one.

Topic: Too many exchanges? - page 4. (Read 21374 times)