Bitcoin Forum

Is there really a need for lot of new exchanges?

I could think of the following -
1) COSS
2) Kyber
3) 0x
4) Waves
5) WBB's exchange
6) XBY's X-Change

Other than decentralization in what else these exchanges have to offer

with a lot of exchange especially decentralized exchange,
this is good for the competitions between the exchange,
the best service will always got more members

I believe that there is a clear need for new encryption exchanges. There is a very urgent need for an exchange that would constantly trade all tokens issued as a result of the ICO. Of course, those who have not yet died completely. Here, of course, there are a number of difficulties, because the stock exchanges have their own rules and at the same time it is almost impossible to tinter all coins. Then you need to increase the number of such exchanges so that the choice is much larger.

You need to realize that exchanges are market maker! Aside from providing liquidity they naturally create environment for good distribution of coin! Stability of prices and easy access to fund. Dex more than ever before is needed now since Government have started looking the way of crypto currencies!

The more competition the better we do not want the Mt Gox thing to happen all over again that depressed the price of bitcoin for a lot of time, also you need to understand that decentralized exchanges bring a lot of advantages over centralized exchanges, centralization is always going to be a weakness, with decentralized exchanges governments are not going to be able to seize a few servers and confiscate everyones coins.

Thanks all for your perspective!

I suspect a scam here which could be bigger than ICO scam. New exchanges, in the name of listing a coin in their exchange accepting payment from the coin. This inturn increase the liquidity or availability regardless of the coin's trust worth.

Not necessarily a scam but an easy money for exchange builders without contributing much to crypto world.

I agree with you, the more the exchange will get better. So we will know between good and bad exchange. They will also compete to become better in service and others, to gain as many users as possible.

I recommend you to keep an eye on XBY Exchange, it P2P exchange that will allow users to trade and execute transaction directly into PoSign blockchain, so the exchange provides an environment immune to vulnerabilities that another exchange lack of.

There's also BTS decentralized exchange, counterparty DEX, and countless others.

Each really has its own niche and only supports a few tokens. Most only support tokens that are issued on the same platform as the exhange is on(for instance Bitshares or counterparty). They are essentially betting on decentralized exchanges becoming a mainstream thing, which imo i'm doubtful of.

* Binance.com
* Cobinhood.com --- https://www.coindesk.com/actor-jamie-foxx-promotes-cryptocurrency-exchange-ico/

The more the merrier.

Well if you think of it this way, there are more and more crypto buyers every day the market is exploding. In the future it will only be busier so yea i think there is a need for more exchanges. Some have some really good features too such as giving a % of the trading transaction fees back to users for holding specific coins in there wallets on the exchange.

Is there a need for more exchanges? YES, if they bring something new to the table.
If it's just a rehash of existing exchanges, it becomes more questionable. It can be anything I suppose? As long as it improves the experience for the user, it's all good IMHO.
At the moment I feel that the greatest advances could be found in improving access and simplifying the bridge between cryptocurrencies and fiat currencies.

I would like to see some more exchanges for the smaller market coins. Nova/etherDelta and yobit are so laggy and terrible to use. A more modern high speed exchange with some of the newer coins would be great!

They can also offer you trade exotic pairs (such as trade tokens based on the waves)

I hold kyber and x, i'm not optimistic about waves because it is Russian and not optimistic about russia

The major exchanges like Bittrex and Coinbase is the ones that will survive when Bitcoin gets very expensive.

Though those exchanges are very popular and they hold a bunch of Bitcoin and Altcoins, there is still a possibily of them running away with the money.

There is definitely a need for a new exchange!
A decentarlized one but one which really works seriously WAVES DEX is waaaay to crappy and unfriendly to use no wonder no one ist trading there.
You need an App you need this you need that tooo much!

There is a need for new exchanges. But only that these exchanges were of high quality and did not take a large interest, and also did not have a niche with you money.

It's a pity that such exchanges are a unit, but many already do not trust them. The best solution is a desktop wallet. Only in it there is at least some kind of stability.

More liquidity - more convenience - more decentralisation - more on ramps.

Yes, we need as many exchangers as possible with different features I look especially for one like poloniex and bittrex with exchange and trade section and exchangers without registration like shapshift but cheaper.

I'm not surprised I only recognized three from your list. But you know what? If we all really want the domination to end from centralized exchanges, who just keep holding us hostage to whatever random and arbitrary laws that they come up with whenever they feel like it, then this will be the future that must happen.

I guess the point of decentralization is just that. Many exchanges to choose from, and market competition is free. Just like Bitcoin. Doesn't matter if there are 100 wallets and 100 explorers. We can all use them and use any or all. Doesn't have to one big wallet that everyone must use. And the coin and all of crypto is far better because of this.

Yeah, if we compare existing exchanges like etherdelta,hitbtc, these are all confusing trading platforms and a lot of people are not able to understand how to trade there.
Some ask for private keys, some charge irregular fee. I think crypto enthusiasts have really need for many new exchanges which have simple user interface just like changelly.
Also the exchange should be able to support exchange between tokens to bitcoin.

I don't see anything wrong with it. Traders will benefit with these because they can try which of them are better than the other like the old ones. And also it will give more opportunities for an arbitrage so imagine if all those exchanges listed one of your coins therefore there's a huge possiblity that one of those has lower or higher selling and buying prices.

This will need to come from decentralized exchanges, I hear that some exchanges are charging money to the developers of new project in order to list their coins and that is just pure extortion because as we know if a token is not listed on an exchange it is going to be very difficult to trade it, so decentralized exchanges are going to be the ones to add all the coins they can so they can attract more costumers to use their services.

The more exchanges, the less likely it would be for that MT. Gox scenario to happen again. There is a bunch of junk exchanges though, watch out.

There are still features that an exchange can offer that old or popular exchanges doesn't have. And if you heard, traders always complain about the support system of bittrex and polo with verification and error issues so that's why we need new exchanges that can offer much better than that.

There are fewer than 100 exchanges, and there are fewer than 10 trusted exchanges, fewer than 5 well used and trafficked sites and that is nowhere near the number that would make it worth posting here. I do not know what you think would be a better number, but you have picked a strange number to attack, there are way too many coins, too many invested ICO's and such, but the exchanges are right where they need to be.

I must say you have a huge list of trusted exchanges! I use a few major ones which I might score 6 on a scale of 1 - 10 for reliability, and perhaps I would "trust" decentralized exchanges like Waves with a 8 score. Then again, I don't have to trust Waves or any other Dex to use them and that is their biggest advantage over the others. Whatever balances they say I have on my wallets, I can verify on any explorer.

Poloniex et al can say whatever they want me to see, and I will not be able to breathe with relief until I get my coins back from them.

You don't have to worry about those new exchanges because only those which are very useful will remain in the business. It's not really a problem but instead a benefit for us because they are going to compete with each other which means better service for us.

This is why we need decentralized exchanges, centralized exchanges are going to be intervened by governments at some point, just look at what happened in china and the only defense against such an overwhelming centralized force is to be dispersed, we need many exchanges and if possible we want them to be decentralized exchanges so governments cannot just go to the CEO and shut down everything.

we need, the more stock markets are opened, the more developed it becomes, every fail will be turned as an experience for cryipto currency world.

I dont really believe there is a huge need for more. i believe there is a massive need for alot more simplified exchanges. for the masses. alot of people are scared of investing on crypto as a fair bit of it is confusing for some.

It's a bussines so it's up to them if they want to build one and they are not forcing you to trade on their site if you don't really want. I don't know why this is making you annoyed because the market will have always its competitor so you should have expected it.

Personally I need new exchange because The bad service from centralized exchange has disappointed me
With many new exchanges then the competition in business will be more fierce, and the exchange will race to provide the best service for the customers
So this is good for the exchange revolution

There are still some things that I am not happy about in many popular exchanges so it's a good news for me that a lot of exchanges are coming in could will fulfill my needs in terms of services and experience.

With this new exchange exchange will enable us to choose where we will exchange and many pricing options that we can compare and this is all we need by all of us.

Also as more people begin to enter the crypto market and more money begins to move in bitcoin the more exchanges we are going to need, we cannot keep using the same exchanges, new exchanges with new ideas and new services needs to come up, it is not healthy for an industry that the same guys are always at the top we need new blood and fresh ideas to keep pushing exchanges forward.

No, I don't think there is a need however they should really try to improve the current exchanges that are present and should hire more support to answer all concerns right away.

I'm thinking that there's a need for a lot of new exchanges. As a trader, it's an advantage to have a lot of exchanges in our own choice.

Let them take the competition and beat each others services base on the satisfaction that they can give to the gamblers. I did noticed the lack of supports but not all of them does have a very poor support though.

Sometimes we are just in a hurry and while waiting for an answer to our query, we are rushing it and can't be patient anymore. I did addressed some problems with popular exchanges before and I understand why they are replying late and this is what they should consider.

I agree on the same thing which I do really much prefer to have a lots of exchanges so that as a trader we do really have lots of options on where we would decide to trade. Competition would really be here since lots of people would really decide to make their own exchange which this kind of business is really profitable if you did able to get the trust of the community. Support is one of the most important thing when it comes on this kind of sites because people do really like to have a fast and responsive support on any sites that they are using.

Yes there is need for lot of new exchanges, It is because our crypthoworld are becoming crowded of new users
There are plenty of users who are using/ needing different type of exchanger to provide thier needs and wants and reach the standards they want for an exchanger. There are lots of exchanger for differet types of users to maintains proper use of tokens/coins in different way and transactions.

I suppose that in addition to that it is necessary that they have some kind of basic security for their users,that is to say that those can be reliable and offer security and in some way make good reputation and that is achieved only through time,the traders they will not risk their money in unsafe sites or that they do not have a good reputation,but in fact it seems that this kind of services are proliferating a lot,could be very difficult to determine how many there are currently and at what pace are they appearing.

Investing is complicated and it comes to a point in which it cannot be simplified any further people need to make an effort to learn as well, I know that many people are lazy but if they want to profit from bitcoin and even change their lives I do not see any problem with investing a little bit of time to learn the ropes and understand how exchanges really work.

It is business you know?  Everyone tends to become number one and that's why we have lots exchanges don't see anything wrong in that

Too many exchanges means that they can see a big progress and growth in this market. They are not just making their own exchanges just to give traders a big delight and satisfaction because others aren't working well, exchanges are real businesses and they need to compete with others too. The more exchanges will come out, the better for individual traders.

Yes there is. As long as the trade market is dominated by a few centralized exchanges, expect the current problems of slow support, website crashes and exit scams to get worse and worse. They all need competition, and especially from decentralized exchanges. Sure, we may have 100 different exchanges to trade at, but that is okay, especially if they are decentralized (that is the whole point). Let users choose the platforms with the best services, quickest and most secure trades and awesome support. Me, I am waiting for Waves to become big!

I don't mind if more will come. I will still use bittrex and sometimes cryptopia because it is tried and tested for me and I'm contented with the service so far.

We also need more exchanges so exchanges do not become too centralized and a handful of exchanges can dictate the price of bitcoin, we already saw what happened when a single exchange has most of the trades taking place in its platform, the crash of mt gox affected bitcoin for years and many thought bitcoin will never recover and we cannot let that happen again.

I think the more exchanges the better for everyone, the competition allows you to create better and better conditions. The future for decentralized exchanges

When I began to buy my first tokens, I was upset that the exchange was not one, but many. And will have to register for several. It is not comfortable.

The more decentralized exchanges the better, competition is always good. Besides, decentralized exchange won't ask you to provide any kind of documents. With centralized exchanges you never know when they will change ToS, block account and take your funds, look what is going on with bittrex, look at all these complains.

I think new trading platforms are needed that would support more new coins. I really do not like etherdelta, and sometimes there are no other options.

Exchanges are made to collect fees. In reality we don't need all of them (currently over 70 popular), but competition is good thing. I just find it hard to keep up balances on all places I'm trading.

And we definitely need a better WAVES exchange with higher volume than the build-in DEX.

I think nowadays Exchanges are getting stricter now, e.g., Poloniex wants all your personal information, regulations are coming, some people see it as a right way for the market to grow. But in my opinion, it would be a great concern for the people who seek privacy and anonymity. I believe this is an excellent time for the decentralized exchange to shine, but I doubt there a potential decentralized exchange, we should give a chance to a new promising exchange like Binance, etc.

Having more exchanges is good for the bitcoin community. It provides users the choice to chose the best amongst them, thereby increasing competition which ultimately leads to upgradation of exchanges to stay in the race.
Having different exchanges ensures that security breach in any one of them does not shakes up the price of bitcoin as was the case with mt. gox.

Yep there's a need to have new exchanges so that we can try out the new services they can offer or if they will work better than the older ones.

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If there's no other exchange and we are only depending to one or few exchange then monopoly can happen and we don't like that to happen so this is good when there's a competition for many exchanges to improve their service and support.

Yes, another benefit for having a lot of exchanges will be no monopoly for exchanges. They wont charge high for transactions and also keep the withdrawal deposit limit low.

Also due to competition each of them will improve their services and especially support. The More exchanges means people will divide their deposits in different exchanges and close or hack of one of them, will means not losing all the money.

Many exchanges are created every year but not many are successful especially for the point you're bringing, persons prefer to keep trading in a platform they already familiar, even if such a platform isn't the best, so a new exchange which wants to become successful will need to bring something completely new to the table so traders decide to test their platform over the one of their competitors.

in my own personal views.  having many exchanges does not really matter or beneficial at all because they can only cause confusion to us people who are oftently trading their coins whenever it hits to an online exchange but with this many competition of exchanges we dont really know on what is the best to use or what are the exchanges that currently supports our coins and tokens. the only main purpose why they are doing it is because of profit and to compete to others.

The more exchanges the better. More competition will lead to better service and prices. Especially SERVICE is very much needed these days, I can speak from my experience with thousands of dollars gone missing for several days now because of an error in Poloniex systems. No support, nothing at all.

A good review/compare site for crypto exchanges would be useful also.

Got my coins back after some 4 days of silence. Very happy but Poloniex has work to do getting their systems working properly and a support department responding within a reasonable amount of time.

Just look at Binance. They know that pain and the frustrations of trades so they offer much better service and they are doing good so far and now the best exchange going to the top very quick. New exchanges need to make themselves better than the popular old ones so just let them create more.

I agree as service will be the edge of every exchanges, the faster their response to the problem the better. We all experienced difficulties when we trade and it's unavoidable but with a great support it won't be a burden to a trader especially when we messed up.

my answer is no.
i am already thinking there are too many,
which means too many accounts and too many passwords and 2 factor authentication codes to handle.