the problem that often arises in cryptocurrency users is the hardness to deposit funds from cash into cryptocurrency, as well as the difficulty withdraw cryptocurrencies into cash.
I would expect more local exchange compared to global exchange, with many of local exchanges in each country it will reduce the transaction fee. users do not need to transfer to several exchanges if they want to withdraw their funds.
users will be easier to choose which exchanges are better according to their daily transaction needs. because the use of exchanges is not always synonymous with traders.
Topic: Why do we need so many cryptocurrency exchanges? - page 3. (Read 12686 times)
To be honest, there is no need for so many exchanges. Crypto exchanges like Binance, Coinbase, Kraken have already made a statement and taken the center stage in the cryptocoin market.
However, the reason behind the existence of a host of exchanges is that they offer huge benefits to owners and help them improve their bottom line.
However, the reason behind the existence of a host of exchanges is that they offer huge benefits to owners and help them improve their bottom line.
For mass adoption, people need to acquire crypto whenever, whichever, whatever and however they can. For that you need many exchanges that caters to different needs of the people. Also, having few exchange mean that crypto is being accumulated in a single point which will lead to it being targeted by hackers.
There is always room for better service and new features being implemented. It is actually good for the cryptospace since it helps reduce the risk of monopoly and reduce the burden on a few exchange (which make them vulnerable to hacks)
Considering the entire crypto ecosystem, Exchange platforms can be compared to the banks. There are a lot of Banks that provide different services and offers. Just like Banks, exchange platforms provide different services and offers that usually meets wide users in the crypto space both newbies and professionals. The presents of crypto exchange platforms make it easier and simple for people new to the crypto space to buy or trade their funds for cryptocurrencies. These platforms bridge the gap in terms of availability of cryptocurrencies to users and the promotion of the relevance of cryptocurrencies in the financial ecosystem.
Information Parity With Each and Every User.
If anyone has questions about our tech or our plans lemme know.
What's the meaning of that?,,Information Parity With Each and Every User.,,Is there really no information parity at the binance exchange?I would like to know what Your wallet and exchange will be significantly different from others. If anyone has questions about our tech or our plans lemme know.
The question is: do we need so many real banks in the world?
The answer should be we don't need. But As Banks takes profits, and give job to many people there are many banks...
The answer should be we don't need. But As Banks takes profits, and give job to many people there are many banks...
Like the banks, the exchanges compete. Certainly, when a guy meets the exchanger with a better rate and the level of trust, he will choose this one. The more exchanges we have, the higher the competition among them is, and the lower the exchange rates are.
It really comes down to weather or not the exchange brings anything new or not. I've been with a new exchange for about a year now and were almost to market. Our thing is holding ourselves accountable which exchanges generally seem to avoid doing. We require signatures from both parties (exchange/user) for every action taken, from trades to account updates.
We just pushed a blog by one of our co-founders. The Only Way Forward for Crypto Exchanges: Information Parity With Each and Every User.
https://medium.com/symetria-hq/https-medium-com-symetria-hq-the-only-way-forward-for-crypto-exchanges-26ae270a5bd
If anyone has questions about our tech or our plans lemme know.
We just pushed a blog by one of our co-founders. The Only Way Forward for Crypto Exchanges: Information Parity With Each and Every User.
https://medium.com/symetria-hq/https-medium-com-symetria-hq-the-only-way-forward-for-crypto-exchanges-26ae270a5bd
If anyone has questions about our tech or our plans lemme know.
No doubt, there might be more exchanges than we need out there and most have been set up to satisfy particular interest (selfish, in some instances) but there could be some advantages to that in the sense that one has quite some options when wanting to trade. In all, I will rather stuck to the reputable ones.
Inspite of the so many exchange we have around 90% of them are not up to expectations, they either have one problem or another, not to mention a bad customer relation, bad user interface etc, beside the number of tokens in the market are constantly growing so more exchange is required to meet up with demand, only that just few are worth the while, the likes of binnace, houbi, Okex etc are dominace of the exchange market, rest are just tagging along.
I think this is not bad. Therefore, the more the competition in the market, the better for us. The more exchanges there are, the better they will be for us.
Competition is good. But you need to remember that there is only a limited number of cryptocurrency users who are active right now, and therefore the total revenues that can be accumulated every year is limited. In case the number of exchanges increase beyond a certain point, then the revenues will fall to a threshold which is below the sustainable level.
I think that in order to establish new exchanges, high security standards and new tools are needed so that speculators feel comfortable, that is, that speculators have facilities to make their entries, many exchanges do not have the facility to place in each Stop position. Loss and Take Profit, since there are many Exchanges that do not have this function, and they force the trader to be stuck to the graph.
high security standards and one of the institutions that handle new exchanges must be established to maintain the stability of the exchange when it is released in the public, this is useful to make many speculators not caught up in negative things, especially fraud. 
I think that in order to establish new exchanges, high security standards and new tools are needed so that speculators feel comfortable, that is, that speculators have facilities to make their entries, many exchanges do not have the facility to place in each Stop position. Loss and Take Profit, since there are many Exchanges that do not have this function, and they force the trader to be stuck to the graph.
This is similar to foreign exchange organizations / businesses in any country in the world. The launch of many trading floors helps meet the needs of investors / traders in the crypto world. At the same time, it also helps crypto have faster, more popular liquidity.
Money exchange is a business that can produce a lot of you. Lots of money from you so companies build exchanges to get money. But we don't really have to think about and need lots of exchanges because business is still a business for users and developers.
I think this is not bad. Therefore, the more the competition in the market, the better for us. The more exchanges there are, the better they will be for us.
Competition is good. But you need to remember that there is only a limited number of cryptocurrency users who are active right now, and therefore the total revenues that can be accumulated every year is limited. In case the number of exchanges increase beyond a certain point, then the revenues will fall to a threshold which is below the sustainable level.
Very good. But also diversity and having the choice between exchanges based on your location and if you want DEX or CEX exchange. Competition is good or otherwise, exchanges take advantage of high fees. I have seen some very high btc withdraw fees which is why I withdrew as doge coin instead. Eth can be 0.01 to withdraw. This is so much. If thousands of people move crypto each day think of how many fees the exchange is collecting just for nothing really.
We can't do much about the high withdrawal fees. If the exchanges don't get enough revenues, then they may fail to take the proper security precautions and in the end ordinary users like us will end up losing our hard earned coins. Personally I don't mind paying $5 or $10 for a single withdrawal, as long as the exchange remains as a trustworthy element.
I think this is not bad. Therefore, the more the competition in the market, the better for us. The more exchanges there are, the better they will be for us.
Competition is good. But you need to remember that there is only a limited number of cryptocurrency users who are active right now, and therefore the total revenues that can be accumulated every year is limited. In case the number of exchanges increase beyond a certain point, then the revenues will fall to a threshold which is below the sustainable level.
Very good. But also diversity and having the choice between exchanges based on your location and if you want DEX or CEX exchange. Competition is good or otherwise, exchanges take advantage of high fees. I have seen some very high btc withdraw fees which is why I withdrew as doge coin instead. Eth can be 0.01 to withdraw. This is so much. If thousands of people move crypto each day think of how many fees the exchange is collecting just for nothing really.
Many cryptocurrency exchanges mean many choices. These would also mean we could compare exchange rate in different sites. But we should be careful on choosing the right exchange, there are some exchanges that are unsecured and dangerous.
Having many exchange I think its not good anyway. Besides, most of the tips and advise by many of the old member here in the forum is that better to use exchange that are listed on top 100. And more than that I guess is not advisable to look for an option exchange. I think it will become more complicated for the traders in my opinion.
In addition to the exchanges listed on the CMC, there are many other exchanges. I have a question WHY do we need so many exchanges? What do You think the new exchange will be able to attract potential users?
Many exchanges in the market give investors a lot of options on where to put and entrust their assets to. More people involving themselves to cryptocurrencies and the market gives and opens up doors to new exchanges to engage themselves into. But, not all exchanges are decent and trustworthy, there are also many scammers introducing themselves as an exchanger and that we need to be careful about.
Well, there are a lot of legitimate gambling sites all over the internet and it is hard to just put your trust into others if you are really used to the exchange that you are using for a long time. Every exchange has their own features that other exchange don't have, they are unique and that makes it attractive to other investors or people.
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