Why do we need so many cryptocurrency exchanges? - page 4.

princesspoppy

member

Activity: 634

Merit: 10

Quote from: Nolimitz84 on May 13, 2019, 03:35:51 PM

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.

niguezz

newbie

Activity: 25

Merit: 0

Quote from: Nolimitz84 on May 13, 2019, 03:35:51 PM

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?

I think we need as many safe and worthy exchanges as we can. The more of them we have the stronger competition will be. Cryptocurrencies are being more and more popular and nothing seems to slow down this expansion, and companies which are creating exchanges will have to improve their services. Someday the number of users will outgrow the possibilites of current exchanges and when the moment will come, the next players in the game must be ready to introduce something better.

Quote from: XinXan on May 30, 2019, 03:05:32 AM

Quote from: nutella_11 on May 30, 2019, 02:58:14 AM

Well, this is how the market works. There is a competition, like everywhere. Exchanges are just business, every transaction or registration is beneficial. I'm using CoinDeal but every trader has his own favourite one. There is a broad variety, it gaves you an opportunity to choose the best coins' prices, fees etc. I think that competition is good in that way, you always have a choice.

We also don't want to give 1 exchange a lot of control. If everyone was using binance only, the amount of bitcoins they would hold would be insane, they could literally control the market if they wanted to, a possible hack would also be devastating, it could almost end bitcoin.

Exactly, that's why the exchange market must be diversed and fully compatible with users needs - and right now (for me) the main need is safety. I've been using binance for a long time, but i don't want if i can trust them anymore, and that's why i switched to coindeal too.

danipay

hero member

Activity: 910

Merit: 512

the more market exchange, the better the chance the trader chooses the best.
many markets have their own advantages and disadvantages. opportunity for traders to make the most of it.

BL46K 7193R

jr. member

Activity: 84

Merit: 2

I think we dont need many cryptocurrency exchanges. We just need some legit cryptocurrency exchanges. Because now days legit exchage is really very important. Because now days scammers increasing day by day. There are some fake cryptocurrency exchange website. They always do scam with various people by various method. So I think one legit cryptocurrency exchanges is necessary. We dont need quantity. We just need a quality full cryptocurrency exchanges.

Thank you

Micerker

full member

Activity: 593

Merit: 100

BBOD The Best Derivatives Exchange

Because each country needs its exchange to meet the needs of users, with private exchanges, there will be many advantages in language because it is friendly to users who do not know English. Private exchanges will attract some investors in a given area, and it is a priority choice for ICO projects developed in that country.

etherixdevs

jr. member

Activity: 203

Merit: 3

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... Wink

XinXan

hero member

Activity: 1064

Merit: 505

Quote from: nutella_11 on May 30, 2019, 02:58:14 AM

Well, this is how the market works. There is a competition, like everywhere. Exchanges are just business, every transaction or registration is beneficial. I'm using CoinDeal but every trader has his own favourite one. There is a broad variety, it gaves you an opportunity to choose the best coins' prices, fees etc. I think that competition is good in that way, you always have a choice.

We also don't want to give 1 exchange a lot of control. If everyone was using binance only, the amount of bitcoins they would hold would be insane, they could literally control the market if they wanted to, a possible hack would also be devastating, it could almost end bitcoin.

nutella_11

jr. member

Activity: 175

Merit: 1

Well, this is how the market works. There is a competition, like everywhere. Exchanges are just business, every transaction or registration is beneficial. I'm using CoinDeal but every trader has his own favourite one. There is a broad variety, it gaves you an opportunity to choose the best coins' prices, fees etc. I think that competition is good in that way, you always have a choice.

rijaljun

sr. member

Activity: 1274

Merit: 267

Quote from: Nolimitz84 on May 13, 2019, 03:35:51 PM

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?

Local exchange will absolutely attract new potential investors / traders. However the bigger competition in global exchange will encourage exchanges to provide the best service for their users. Imagine if there is just a single exchange, I' sure there will be a lot of problem that takes too long to fix. Unfortunately, yobit is the only one that out of competition, they never willing to fix their reputation and provide better service, lol.

Successmaniac4

member

Activity: 196

Merit: 10

Exchanges are created to make transfer of money much easier. Each exchange has a specific motive and solves a particular problem. Exchanges are many now because people make money from transferring money on these exchanges.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

Every new exchange that is being launched has something new to offer to the market. The failure of an old exchange is an opportunity to new exchanges. I don't mind seeing new exchanges because not all exchanges offer the same service and not all exchanges list the coin that I need. Also, for the sense of security, there are those who prefer companies that are within their reach so if anything bad happens, they know where to go.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: Vishnu.Reang on May 23, 2019, 11:52:14 AM

Quote from: thirdlight on May 23, 2019, 11:46:57 AM

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.

Yes, by competition, I am sure that every cryptocurrency exchanges wants to give the best things they can to their members and I am sure that they want to reach more traders who will trade in their site. If they can gather more traders, it means they can collect more profit from the fee of trading. Besides that, the benefits for traders is they can use one exchange to search the profit from the other site, and they could also try to do arbitrage trading.

MMS2017

full member

Activity: 546

Merit: 100

If only one exchange in the wold then monopoly will be exist and the performance may be affected but due to many exchanges like an exchange for Islamic point of view is good for muslin's and they will easily come to this exchange for trading coins while they will invest through this exchange instead of others so if we have multiple exchanges we can easily do trade and investment in our local community and country as well so i prefer that we have multiple exchanges in the world.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: thirdlight on May 23, 2019, 11:46:57 AM

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.

thirdlight

sr. member

Activity: 445

Merit: 250

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.

john_nautica

full member

Activity: 966

Merit: 102

Quote from: ice18 on May 23, 2019, 08:54:07 AM

We dont need too many exchanges problem is no volume, no liquidity, what we need is real volume and real trading activities not by bots to manipulate volumes like Digifinex, we need exchanges like Binance or Bittrex, the only reason I can see why too many exchanges is because its business and money is easy.

real volume becomes the main one, maybe it only requires one large exchange like binance but has a high trading volume rather than having to have lots of exchanges but no price development is very detrimental.

Kevs Young

newbie

Activity: 13

Merit: 0

Quote from: Nolimitz84 on May 13, 2019, 03:35:51 PM

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?

Actually it is really not a need. It is just because promoting or advertising new incoming exchanges brings out new features that are being push through into potential investors to have innovation because improvement does not primarily stop at some point but it just continue to grow nearly for perfection but since nothing is perfect, there goes many releasing exchangers with promising features to have choices that is dependent on the specifications of the user on which exchanger suits to comply on all his needs and wants.

dioanna

full member

Activity: 612

Merit: 102

Quote from: Nolimitz84 on May 13, 2019, 03:35:51 PM

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?

when it comes to token or coins its a plus for me if it is listed in more than 5 exchangers
it means the supply is well divided and the price would be more stable i guess
but talking about exchangers i think there is too many of them right now but few are supported by many traders

ice18

hero member

Activity: 2492

Merit: 542

We dont need too many exchanges problem is no volume, no liquidity, what we need is real volume and real trading activities not by bots to manipulate volumes like Digifinex, we need exchanges like Binance or Bittrex, the only reason I can see why too many exchanges is because its business and money is easy.

Eraldo Coil

member

Activity: 448

Merit: 10

It is not that we need a lot of cryptocurrency exchanges. But having your own cryptocurrency exchange sites means having money or business. And every exchange sites has a different goal. There may be a lot but only few of the exchange sites will emerge as top quality exchange sites where everyone of us can trust.

Topic: Why do we need so many cryptocurrency exchanges? - page 4. (Read 12686 times)