too many exchanges and will increase in the future, what do you guys think about - page 2.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: GrayFullbuster on October 22, 2019, 02:05:20 AM

Most of the exchanges are now closing because of regulations and also because of competition.

Which is also allowing shady exchanges to come out and establish their foothold. At least regulation meant that scammers would also be less or face legal consequences. Now being unregulated and a large number of exchanges there to choose from, you have an assortment. But how many can you really trust?

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There are now many exchanges and only few exchanges that are patronizing by traders and investors.

Those who have verified accounts on the older exchanges still tend to use them. Newer exchanges are nothing but dumping grounds for bounty hunters, who are the sole reason why they exist. They need a place to dump their shitcoins because they dont care about the project and had come in only for their money. Then there is nobody buying their tokens and they consider the coin to be scam. Pretty funny. Cheesy

Sahyadri

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Crypto space is really cluttered. So many exchanges, wallets and ICO. More the exchanges more is the risk of frauds and scams. My personal opinion is that crypto needs regulation to cut on the rise of exchanges. People are not educated enough to evaluate such exchanges and get scammed. This brings out the bad name for cryptos. Regulations are the only way out of it.

Undevd

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Quote from: No Pain No blood on August 08, 2019, 02:11:37 PM

there are too many projects about exchanges now, and everything looks the same.

do you think there are currently too many crypto exchanges? and when the platform was released did anyone use it?

if seen at this time, there are still many exchanges that do not have trading volume. then why are they still making projects about exchange?

I think projects like this it's a classic scam. Just promises that the exchange will be faster/better then most large exchanges and you just need invest some money. In the end you get nothing.

ashmodeus

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Quote from: No Pain No blood on August 08, 2019, 02:11:37 PM

there are too many projects about exchanges now, and everything looks the same.

yes, that totaly right . everything just like stupid.

Quote from: No Pain No blood on August 08, 2019, 02:11:37 PM

do you think there are currently too many crypto exchanges? and when the platform was released did anyone use it?

according to data of CMC , there are 20k exchange , but when we see on coingecko , just about 390 exchange.
probably coingecko not listed a new born exchange.

Quote from: No Pain No blood on August 08, 2019, 02:11:37 PM

if seen at this time, there are still many exchanges that do not have trading volume. then why are they still making projects about exchange?

of course because of its lucrative profits, they just think about dialy profit from people using their exchange,but doesn't have any idea how to promote their exchange, and also people not stupid anymore tempted by the benefits offered.

ecnalubma

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Even if the numbers of exchanges continue to increase the main category is the quality of the service that they can offer. During this times its hard to trust new exchanges because of rampant fraud before they can gain traders trust, they have to be seasoned and achieve good feedbacks from users.

jajorforce

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Quote from: No Pain No blood on August 08, 2019, 02:11:37 PM

there are too many projects about exchanges now, and everything looks the same.

do you think there are currently too many crypto exchanges? and when the platform was released did anyone use it?

if seen at this time, there are still many exchanges that do not have trading volume. then why are they still making projects about exchange?

Although I don't like KYC very much, for new exchange KYC is mandatory. I don't use new exchange without listed my earned coin. Old Exchange is holding top volume where new exchange is out of 100 even ready share their earned profits. Huge exchange is running even more new is coming everyday.

Fappanu

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Quote from: No Pain No blood on August 08, 2019, 02:11:37 PM

there are too many projects about exchanges now, and everything looks the same.

Ignore them all and focus only on respected, solid exchanges. Because definitely any of these exchanges won't last too long here.

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do you think there are currently too many crypto exchanges? and when the platform was released did anyone use it?

There are a lot of crypto exchanges and you can find it in google search, and it is also useful for people if they have the opportunity to offer to attract traders, such as a sign up bonus.

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if seen at this time, there are still many exchanges that do not have trading volume. then why are they still making projects about exchange?

This is due to the potentially huge profit (Especially in Listing fee). Similar to the Binace news where $ 20,000 is earned daily.

Doranile432

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Quote from: No Pain No blood on August 08, 2019, 02:11:37 PM

there are too many projects about exchanges now, and everything looks the same.

do you think there are currently too many crypto exchanges? and when the platform was released did anyone use it?

if seen at this time, there are still many exchanges that do not have trading volume. then why are they still making projects about exchange?

I'd say you should just ignore any new exchanges for now until they prove their worth, we have too many exchanges already and they are mostly full of fake volumes, watch trades, bots, it will be wise to stay away from them and remember that IEO is trending now and many scammers can go for exchange too

cudora

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In my opinion, we do not need so many exchanges, we just need 10 solid ones. But right now, there are no ten exchanges that are holding the same level as Binance or Huobi are doing. It is extremely hard to gain so much customers and to keep the service level on a high spot.

semobo

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Everyone doing this with the hope of making their project successful even if there are lot other same service available but if they just have the same thins as old one then no people will pick their service,they have to add something better to convince people to start using their service.

KnightElite

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Quote from: GrayFullbuster on October 22, 2019, 02:05:20 AM

Most of the exchanges are now closing because of regulations and also because of competition. There are now many exchanges and only few exchanges that are patronizing by traders and investors.

There are too many exchanges nowadays and we should pick carefully on what exchange that we should use. We should consider the security of the exchange and also the fees before we invest our money.

Not all of exchanges can be trusted because there are also scam and worthless exchange. Recently, there are exchanges that are been hacked; it is one of the proof that not all of exchanges should be trusted.

trauchot

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I completely agree with you, now there are too many cryptocurrency exchanges and the most important problem is that traders use only the most top cryptocurrency exchanges for trading, and therefore there are almost no or no traders on other medium and little-known exchanges and because of this, on such medium and little-known exchanges trade only bot.

JeffBrad12

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Quote from: ATSgrowth on October 22, 2019, 02:14:30 AM

I do not have problem with it. More competitors bring better quality and better user experience to the market.
But be careful, don´t be a tester and do not use new exchanges because there is a risk of being scammed.

Exception can be made for a new decentraled exchange which has the code published on github (open source) or any regulated centralized exchange that's confirmed under government. Otherwise any shady new exchange that's just pops up out of nowhere even with anonymous owner is definitely a big no.
I do agree that more exchange can shape the market to be more competitive and therefore speed up the innovation as well as bringing better quality. However a shady exchange could also blend in easily if the exchange market is too crowded of a new exchange. At the end of the day it's up to the people to choose their preferred exchanges.

Inkdatar

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Quote from: GrayFullbuster on October 22, 2019, 02:05:20 AM

Most of the exchanges are now closing because of regulations and also because of competition. There are now many exchanges and only few exchanges that are patronizing by traders and investors.

There are too many exchanges nowadays and we should pick carefully on what exchange that we should use. We should consider the security of the exchange and also the fees before we invest our money.

Competition really exists in the crypto industry with so many exchanges there are some closing also. Due to the lack of volume and no traders. Even though there are so many existing exchanges our own responsibility to do on trades with good and reputable exchange. This way when we do buy and sell crypto we're secured and our funds are in good hands but of course, do not leave huge funds in the exchange for security purposes.

ATSgrowth

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I do not have problem with it. More competitors bring better quality and better user experience to the market.
But be careful, don´t be a tester and do not use new exchanges because there is a risk of being scammed.

GrayFullbuster

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Most of the exchanges are now closing because of regulations and also because of competition. There are now many exchanges and only few exchanges that are patronizing by traders and investors.

Strongkored

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The emergence of new exchanges is usual things, always happens in business world. People will see the opportunities that exist, and opening a exchange is an opportunity especially in crypto world to earn money.

Is it too much? I cannot say it, even though it is true, but at the end only who provide the best service will survive and be used by traders.

PLATO

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Quote from: Wend on October 21, 2019, 08:27:21 PM

Quote from: kawetsriyanto on August 08, 2019, 06:35:32 PM

That's why we need to be more careful to join in new exchange projects nowadays. With many cases of failed new exchanges, it should be a warning for all people. Not all exchange projects are made for the real exchange purpose, some of them may be just created for scamming people only.

More new exchange are most not trusted they are trying to scam find a way on how to scam. As you said we need to aware of those and need to be careful sometimes, Because i was one of the victim of that kind exchange site but, They convince me on what they said about the exchange they have. Most of them are good in talk but in the end all they want from you is our coins so dont give all information we have.

In my opinion, you should only choose reputable exchanges in this market because these are the ones that are selected by many people and ensure your safety when participating. Some good exchanges like Okex, Huobi, Coinbase are the top choices in this market and each exchange has different strengths so it depends on your investment preferences.

Wend

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Quote from: kawetsriyanto on August 08, 2019, 06:35:32 PM

That's why we need to be more careful to join in new exchange projects nowadays. With many cases of failed new exchanges, it should be a warning for all people. Not all exchange projects are made for the real exchange purpose, some of them may be just created for scamming people only.

More new exchange are most not trusted they are trying to scam find a way on how to scam. As you said we need to aware of those and need to be careful sometimes, Because i was one of the victim of that kind exchange site but, They convince me on what they said about the exchange they have. Most of them are good in talk but in the end all they want from you is our coins so dont give all information we have.

redsun114

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Quote from: Mister.Satan on August 09, 2019, 08:30:52 AM

I don't think there are too many crypto exchanges currently. Each crypto has a tier and not every crypto could afford to be on in good or top tier exchanges.
So there are always some low tier crypto exchanges pop up to shelter those low tier crypto. And it's good to have many crypto exchanges to make sure no monopoly or manipulation.

We don’t need too many exchanges to break monopoly of exchanges, if we have 20 exchanges that are quality in the market, I believe that most of them will have a fair share of all the traders that we have in the market and there won’t be anything like some of them having monopoly. It is even because we have too many exchanges now that there is monopoly of power.

Most of these exchanges being developed does not have a real product to offer other than the fees they are after, so they end up not bringing a quality features that will encourage investors and traders, so we end up still falling back to all these older big exchanges, and if anyone is to advise you on an exchange, they never refer to new exchanges but the big older ones.

Topic: too many exchanges and will increase in the future, what do you guys think about - page 2. (Read 746 times)