Topic: Why do we need so many cryptocurrency exchanges? - page 6. (Read 12686 times)
As knowledge broadens in any field, people begin to move in and utilize the platform. The same principle works in crypto. Bitcoin was the first cryptocurrency to be launched but other coins followed later and now there more thousands of cryptocurrencies on the market. There are numerous exchange sites because every exchange intends to offer its unique services which may be in terms of low transaction costs, fast transaction speed, security etc.
I like to use different exchanges so definitely, I would like to see more exchanges erupt. The more the exhanges, the more new features are brought up and the essier it becomes to use. Moreover, it generates competition between the exchanges and that will lesd to a better performance
now a new exchange is starting to grow and come. And is this necessary ...? perhaps from the trade side it is very necessary because this provides an opportunity for traders to seek more attractive and profitable exchanges, among others and with many exchanges that will make them compete to get member by increasing services and lower costs
The thing is we already have dozens of exchanges competing between themselves for which one offers the best services and the lowest fees so we don't really need more to join this fight because people will have to suffer from this. The problem is not that new exchanges are created. The real problem is that all of this exchanges are basically useless and they don't bring anything new to the value so they are created only for profits. If we look into some exchanges, we might see that there are having ICO before they launch their system and used their tokens as one of their tradable pairs. But we can find that most all exchanges BTC and ETH pairs are present, this will mean that they are focusing more on the top coins rather than of their own coin instead.
now a new exchange is starting to grow and come. And is this necessary ...? perhaps from the trade side it is very necessary because this provides an opportunity for traders to seek more attractive and profitable exchanges, among others and with many exchanges that will make them compete to get member by increasing services and lower costs
The thing is we already have dozens of exchanges competing between themselves for which one offers the best services and the lowest fees so we don't really need more to join this fight because people will have to suffer from this. The problem is not that new exchanges are created. The real problem is that all of this exchanges are basically useless and they don't bring anything new to the value so they are created only for profits. 
The more exchanges in the market mean we can choose what is the best for us to use. More choices for us to pick which one is the best and more easy to make some arbitrage with some exchanges..
For us to be able to choose which exchange offers low transaction fee and has strong security. There are many exchanges because they are making improvements. Also not all crypto is listed on the exchange, sometimes it just choose certain exchange where you can do trading. 
now a new exchange is starting to grow and come. And is this necessary ...? perhaps from the trade side it is very necessary because this provides an opportunity for traders to seek more attractive and profitable exchanges, among others and with many exchanges that will make them compete to get member by increasing services and lower costs
The new exchange can attract evenly, as long as there is an old exchange of many days. Because I think an exchange company did not have a Famous in a day, they have to be famous again. So you can be a new company.
Yes, however, if they keep their transition fees a little less and the transition on their website is a little faster than other websites, then they may soon come to the famous not-so-top position. I do not think there is a need for more new exchange at the moment right now in the market.
Yes, however, if they keep their transition fees a little less and the transition on their website is a little faster than other websites, then they may soon come to the famous not-so-top position. I do not think there is a need for more new exchange at the moment right now in the market.
The more exchanges in the market mean we can choose what is the best for us to use. More choices for us to pick which one is the best and more easy to make some arbitrage with some exchanges..
One of our advantage as traders is this arbitrage opportunities, if there's a lots of exchange to deal with we can perform this trading strategy, find some good edges between those available exchangers but also be aware of possible negative side of this practice, there's also scam exchange or bots that manipulating the trade process around. I noticed some exchanges have region restrictions now like what bitfinex did back at the end of 2017 with not allowing any customers from united states to have an account with them.
Also bitmex http://www.bitcointradingsites.net/bitmex-usa
Bittrex had to open a separate entity operating out of malta because of these restrictions associated with us customer base. https://bitcoinist.com/bittrex-segregates-us-traders-with-launch-of-international-exchange
Also bitmex http://www.bitcointradingsites.net/bitmex-usa
Bittrex had to open a separate entity operating out of malta because of these restrictions associated with us customer base. https://bitcoinist.com/bittrex-segregates-us-traders-with-launch-of-international-exchange
USA costumers will usually use Coinbase because it's fully regulated there. A lot of big players use Bitmex which is kind of surprising, considering how shitty it is, every time there is a big move happening their system crashes, you can't place orders and have to click 100 times to make it work.
The more exchanges in the market mean we can choose what is the best for us to use. More choices for us to pick which one is the best and more easy to make some arbitrage with some exchanges..
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?
The more the commodity would be, the more would be the growth and demand for that. In short, anytime there are new exchanges, they come up with new advanced features and skills which attracts peoples to joint their exchange. There are hundreds of trustworthy exchanges in the market currently and each exchange has some uniqueness which makes it stand in the most competitive world. There is huge competition going on in-between the exchanges which would always bring something more better for the users over there. We do not actually need a number of exchanges but we need selective ones who have the most features and benefits for trading onto them.
I noticed some exchanges have region restrictions now like what bitfinex did back at the end of 2017 with not allowing any customers from united states to have an account with them.
Also bitmex http://www.bitcointradingsites.net/bitmex-usa
Bittrex had to open a separate entity operating out of malta because of these restrictions associated with us customer base. https://bitcoinist.com/bittrex-segregates-us-traders-with-launch-of-international-exchange
Also bitmex http://www.bitcointradingsites.net/bitmex-usa
Bittrex had to open a separate entity operating out of malta because of these restrictions associated with us customer base. https://bitcoinist.com/bittrex-segregates-us-traders-with-launch-of-international-exchange
The cryptocurrency market is expanding and at that there have been increasing number of different development in all crypto assets and exchange as one of the vital organ of cryptocurrency there is a need for continues development and advancement. Before now we don't have exchange that offer direct crypto for cash exchange but with development there are now a number of exchange that offer such services. So I will say we need new exchanges due to increasing demands for development.
The days were moving completely towards decentralized functioning, and as a part of the same we're in need of exchange services on the decentralized platform. Even now we've got more cryptocurrency exchanges, but users haven't got things fulfilled with this. This is what the reason for the need of more and more cryptocurrency exchanges.
I would say , the more the better . As there is projects out there that can afford to pay listing fee for binance and there is that can't so they search for some not so popular exchanges to list themselves . Image if there was only Coinbase , Binance and Bittrex . Do you think new projects would be able to list themselves there ? Imagine the volume on exchanges if there was only 3 of them 
And ofcourse more funds for hackers as if they hack 1 of 3 exchanges
And ofcourse more funds for hackers as if they hack 1 of 3 exchanges Why there is a listing fee? The exchanges are already collecting fee from the users for trading, and therefore the listing should be completely free.
IMO, it makes the exchanges more prone to scams and ponzis. Now what happens in case you are charging a certain amount for listing is that good projects which can't afford this amount will be denied listing. At the same time, scam coins may get listed if they are ready to pay a certain amount.
In case they want to charge for listing, then trading should be made free. Can't have it both ways.
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 would say , the more the better . As there is projects out there that can afford to pay listing fee for binance and there is that can't so they search for some not so popular exchanges to list themselves . Image if there was only Coinbase , Binance and Bittrex . Do you think new projects would be able to list themselves there ? Imagine the volume on exchanges if there was only 3 of them
And ofcourse more funds for hackers as if they hack 1 of 3 exchanges 
If there are more cryptocurrency exchanges, it is good for traders/investors.
Less cryptocurrency exchanges means easy to manipulate the prices of the coins by the exchange owners. If we have more cryptocurrency exchanges it is difficult as traders can easily catch the price differences. Smart traders can even take it as an arbitrage opportunity and gain profits.
If there are just few exchanges, again they can take that as an advantage and charge a higher trading fee. Since there are considerable number of exchanges and they are offering competitive trading fees, we can enjoy less trading fees. This is applicable for both deposit and withdrawal fees as well.
The downside I see is that most of exchanges don't care about the customers and just trying to maximize their own profits with various methods such as doing fake volume to attract more traders and not investing on the security of the exchange to protect the users from possible security breaches.
Less cryptocurrency exchanges means easy to manipulate the prices of the coins by the exchange owners. If we have more cryptocurrency exchanges it is difficult as traders can easily catch the price differences. Smart traders can even take it as an arbitrage opportunity and gain profits.
If there are just few exchanges, again they can take that as an advantage and charge a higher trading fee. Since there are considerable number of exchanges and they are offering competitive trading fees, we can enjoy less trading fees. This is applicable for both deposit and withdrawal fees as well.
The downside I see is that most of exchanges don't care about the customers and just trying to maximize their own profits with various methods such as doing fake volume to attract more traders and not investing on the security of the exchange to protect the users from possible security breaches.
It's a free market economy. Every one is allowed entry but as a potential user/customer you need to be sure the exchange you use is reputable enough to warrant your patronage. Do your own research always. The market is saturated with a lot of fake exchanges with fake volume too. Most of them are out to scam unsuspecting users.
So far this year, reputed exchanges such as Cryptopia and QuadrigaCX have closed down, leaving their users high and dry. All of them closed down abruptly, before the users could withdraw any of their coins (in case of Cryptopia, it was possible to withdraw some BTC before they closed down). These are not new exchanges. These ones were operating for many years and had hundreds of thousands of users. If these exchanges are closing down, then how can you trust the newer, smaller exchanges?
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?
In my opinion we do not need to need a lot of exchanges, here why many exchanger including those who have not registered at CMC because every developer has their own idea how to develop blockchain technology, that's why many are competing to make exchangers with features in it. to attract users, according to me, I first held a Giveaway, with which we can create a community and attract all users to join in as a community by make a Giveaway. Crypto exchanges are necessary but having too much isn't needed. There are just new existing and new exchanges being launched for their own purposes. They're competing for a higher rate which they make as a business. Exchanges wouldn't exist if they aren't earning through it. Instead of being confused, we must be wise upon choosing an exchange.
I agree with what you have said, but for me multiple exchanges is helpful too since different exchanges offers different prices of bids we can see who among them is worth investing your assets, and in my experience there would be a lot of possible instances about maintenace and unexpected delays if we are all having a single exchange it will take so much time to have our money or profit that we have allocate to it. Crypto community allows these different exchanges to exist since not every cryptocurrency have the same compatibility with one other with our desirable cryptos which I think is helpful too for us convert our prior assets to another crypto. Jump to: