Bitcoin Forum

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?

We don't.

Every new exchange has one ultimate goal in mind - make some money for the creators. Some try to do that legitimately, but unfortunately the vast majority resort to shady and unscrupulous activities and behavior to do so, be that faking their volumes, faking their trades, insider trading, pumping and dumping, exit scamming, selling your data, the list goes on. "Launching a new exchange" and IEOs seem to have partly replaced "launching a new token" and ICOs as the fastest and easiest way for scammers to lure in unsuspecting newbies.

For your own safety, you should be sticking to the large, reputable, and well known exchanges, although even then your safety isn't guaranteed.

How many brokers for classic assets are out there? Thousands, why? Well, just like everything else, why are there a ton of different websites to buy the same things? To sell the same things? etc etc. That's how it works, ultimately the ones who are serious about it will try to offers something better, whether it's regulations, better fees, faster platform, more detailed charts, more trading options, margin trading, etc etc. We do in fact need more cryptocurrency exchanges, hopefully decentralized ones as well.

where there is competition, there is a possibility that quality will be higher and rates will be more competitive. but unfortunately in the case of exchanges the situation only becomes more pessimistic. it seems that the new exchanges follow the example of yobit


most of the new exchanges are created by people who seem to lack planning and disorganization. for example, it is known that many exchanges provide poor service to the support, why the hell anyone knowing that there are already many exchages to provide poor services to the support will create a new exchange to provide poor service to the support? the owners of these exchanges only think of making money for themselves and do not bother to provide good services

Although there is the emergence and creation of so many coins in the cryptospace but there was limited exchanges for people to trade their currencies. For me in particular although since so many exchanges were launched it has increased scamming activities but I think the exchanges are good . In no time it will be more that we won't even know which one to trade our coin.

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.

Actually we dont really need more exchange dude,but making an exchange is an business which can earn you tons of money so company are building exchange in order to earn money from it.Business is everything man

1. Exchange is created to benefit from every transaction and from every coin registration activity.
2. exchange is used to compare each coin price. 
3. for long and short trades. 
but, an exchange that does not innovate will lose and die.  for the new exchange, I recommend you to choose BCNEX.  You can see the progress of BCNEX on his website.

Each exchange has different characteristics and even the difference is usually whether the exchange can withdraw to a local account in a country. each country usually has its own exchange service. each exchange will compete to provide the best service, each exchange has a different feature and it is usually also that costs will be things that will attract customers. oh yeah don't forget the security issue, for me an exchange that has good security services is a top priority.

Not all of the alt-coin could be listed on one exchange so for me it is enough reason to have other exchange.
One exchange couldn't provide for everyone and they all have different rules.
And of course it would be real hassle if we only have one exchange and they would go to a maintenance or be hack.

I think all these features (except margin trading) are available on any exchange.I also give an advantage to decentralized exchanges,but in addition to + they have negative sides.

No one says that there should be 1 exchange.The question is why do they create them almost every day?

Every exchange has a specific function. They have differences but they offer the same service. There are just some exchanges which are not trusted and fails when it comes to services that they offer. I guess these exchanges must be elliminated out of the market.

I see that exchange now prioritizes personal gain.  not to provide benefits to users.  finally.  exchanges only harm the user and the exchange does not last long.  exchange purpose is for making users comfortable.  I think, Beaxy is an exchange that will compete with big exchanges like Binance.  and that can be your choice.

I didn't want to recall the terrible situation that the binance exchange faced not so long ago, but for an answer one would have to remember that even such a secure exchange as binance was also subjected to hacker attacks. Therefore, the expression “safe exchange, remains in the past.

The crypto ecosystem is currently a good space for investors and developers to make or earn a good amount of profits from any thing they can introduced into this ecosystem to either promote this space or bridge some gaps seen in this space.  Currently in the crypto space, exchange platforms act as the banks for cryptocurrencies which allows crypto users to easily change their crypto coins for other coins. Since developers realized that exchange platforms serve as the direct medium between sellers and buys, other developers started build such platforms as a means of obtaining some amount of profits from the fees charged on their platform.

Since You advertise this exchange,tell us how it differs from all the others?

Just like selling goods, why there are too many stores now. Here is what I have understood why there are too many crypto exchanges emerging it is almost every month. Because that is the good business though to have an exchange. I think it would you be nice if we have a lot of cryptos exchange out there to have a high-quality competitive service to everyone which gives good service among them all. We have different choices and we can compare them to each other which one is reliable service.

actually we don't need a lot of exchange.  important points of exchange are security and exchange services must be maximal.
 then. exchanges must to maintain quality and always create innovation.  I see that Binance has a very perfect character.  new exchanges are difficult to predict.  I'm worried like LCCX exchanges.  very bad and doesn't have good progress.  so I don't recommend new exchanges.

The reason for this I think is the diversity of investors to choose in which exchange they are comfortable of trading. The existence of many exchanges do favor investors and will create competitions in the market.

We need so many exchanges because we will see the differences in the price in the different exchanges so we can make more money by doing arbitrage trading although it is not always suggested because we cannot predict how long the transaction will be completed.
The new exchange will be able to attract potential users when they can give protection to the user, and they can serve better than the other exchange so the user can feel satisfied with their services.
That will make the user recommend their friends to try to use that new exchanges and soon, the new exchange will gain more users.

I don't think we need as many cryptocurrency exchanges that are being developed hastily into the crypto industry making them so vulnerable to the attack of users. It's good if we can have some few hgihly secured exchanges other than all these numerous ones yet we get hacked almost every month making users lose money.

We don't need too many exchanges, we only need few with good reputation and got a decent transaction fee, most of the exchanges got a fragile security and once it got hacked the price of the coin could be affected, but I think we need to open our hands to a new exchanges and give opportunity for the new exchanges to prove itself

Well more exchanges are needed to absorb the growing numbers of cryptocurrencies users although this new exchanges has to trusted and well secured.
Recalled sometimes in 2017 binance has to reject new investors for some period because of the numbers of new users was very alarming thereafter newbies are allowed to register again we just needed few additions to encourage competitions among them.

I think having more exchanges works to our advantage. Competition between exchanges can bring cheaper fees and better overall service. Newer exchanges have to think of new ideas to be a better exchange or have gimmicks that could attract more clients. If they do not adopt with the competition, they will die. We do not have the need for it but isn't it just good that we have choices.

In my opinion, we need more exchanges because of liquidity. The more exchange of coins/token the more it will liquidate because the coins/token are quickly bought and sold in many exchange without affecting its stability of price.

Even though these trusted and reputation exchanges isn't safe from being intruded by security breachers. How much more with those other unknown and newly launched trading sites. We shouldn't trust them seriously, because we're a potential victim once we're having engagement on them. Personally being a holder of selected crypto coins, I preferred storing my funds on my metamask wallet so that it's free from possible hacking attacks. Always rely on actual trading demand and don't expect that you can grow the value of your coin through many exchanges offering new trading services. Prevent storing funds on trading site, and trade only what you need to dump.

Thats why every exchange site has its advantages, as you said that they are competing to provide and offer the best facilities for their customers, and of course the most useful and best innovation, will be used by many customers. Exchange sites that don't have much innovation will certainly be abandoned. thats how it works
why many new exchange sites? because they think they can offer the latest technology, better than the previous exchange, that's what they offer to attrach people.

it is like asking "why do we need so many brands of shoes, why not have only Nike for example!". that is how the businesses in an open market work. everyone can make a new business and invite people to use their services. that is what leads to multiple exchanges existing. and like any business some of them can only truly succeed and the rest remain small. of course this market is quite wild and with all these hacks and exchange scams the successful ones keep on changing so there is always room for the small ones to become big and replace the old big ones.

there is also the difference in their services. for example the big ones enforce KYC while the small ones don't so they still retain their attractiveness. there is also different types like altcoin exchanges versus bitcoin exchanges, or centralized versus decentralized exchanges.

For obvious reasons, this is business so they want to make money out of the crypto hype that's why there are lots of exchanges being born and will be born in the next couple of months. At least there are competitions around and if those who are on top wanted to remain their, then they have to give us more transparency and security. While those upcoming exchanges should put emphasis on gaining trust to attract potential users.

Only for profit that will gain by the creator, actually we only need one exchange it's possible because it can manage every user. Instead we have many exchange and the most possibilities the security exchange is very reluctant to hack and if that happened then we can see what will happen from the perspective by other people to cryptocurrency. The will spread up the negative information and even encourage lots of people to avoid it. Maybe the local exchange is so important so as we will easily change our money to money fiat.

Not with me, crypto is indeed a lot but it doesn't need too many exchanges to list all crypto. Many exchanges appear every year, but are they all useful? New exchanges were created to add to the shortcomings of the old exchanges, but if the old exchanges were still able to grow better then we did not need new exchanges.
Most new exchanges that appear to be just junk, people will still see more popular exchanges such as binance, bittrex, etc.

It is a freedom we all have.  If you want to open a new Exchange you can.  But in this case, you need to understand that you must be better than the others if you want to make money.  That is, we have many Exchanges because each of them has its differential, that is, an open market.  And this is great for the user because it causes a competition between them, reducing rates in a general way.

The thing is one or two exchanges will never list all the 1000s of Alt coins that are out there at the moment. Some developers of these Alt coins need to get their coins out there and creating an exchange is the most logical route, if you cannot pay the fees to get your coins listed on the major exchanges.  ;)

Exchanges are making a lot of money from listing coins and also the transaction fees that are charged on their platform, so people will logically create more of these services if there are a huge demand for such services.  :P

We don`t we need 1 built into the bitcoin core.  ::)

We don't need so much exchanges anyway and some people use it, but i think we need more bigger and trusted exchanges and not only one because if there is monopol there is not ok at all.

..we don't need a lot of exchange..its just so happen that many crypto enthusiast put up an exchange in order for other crypto users to use and patronize those exchange which are easy to use and very accomodating in their users..it's like a business,,chose whom you like..chose an exchange which has low transaction fees and very easy to contact admin whenever you have querries or problems in your coins..

When an exchange gets hacked the others that haven't got hacked aren't less vulnerable either. If their cryptocurrency gets stolen there's barely a negative effect on the price.

To have more bigger and trusted exchanges it starts with having more new exchanges. Eventually a few of those exchanges will get big and become trusted by many traders.

What do you mean? How can all exchanges have better fees and faster platforms lol? I don't think you even read what I said. Exchanges just like everything else compete with each other. I don't care if there are 1 million exchanges, people will still pick the best ones so in order for exchanges to work they have to offer something new or better. Decentralized exchanges still have a lot to improve.

Decentralized exchanges are for future state glows. But even they have their differences. As said, there may be a million exchanges but only the best ones will be used.

Exchanges are needed so people would have the freedom to choose which platform caters to their taste. Many exchange would also make crypto more reachable for the people who are new in this space.

Because cryptocurrency exchanges is a profitable business. Do you know how big is the profit for an exchange? It's really big, that's why there are so many exchanges.

Mostly new exchange will be hard to get users but once it operate and giving some promotions it will slowly used by other traders.

I personally think that in order to gain the trust of users you need to create a convenient and clear interface.Round-the-clock technical support,multilingualism,the presence of competitions and innovations can really attract a lot of users.But in order for new exchanges to be in demand, there must be many users directly using the cryptocurrency.

Exchange for virtual currency is like a bank for Fiat.  There are not many of them.  If there is demand in this, then there is competition among them.  And while for a simple user it is easier to pick the right exchange.

Yep, because crypto market has demand for using exchange, hence it comes with not surprise when our market surrounds with a vast number of exchanges. Especially, as we all know that each exchange remains its own function. Probably we have seen many different types of exchanges, and that is kind of difficult for one to choose a reasonable exchange. Obviously, the number of exchanges is becoming increase every single day, it's a clear sign of competitiveness. If an exchange is created with a more dorminant function, definitely it attracts much attention of people. But as you can see, it's pretty hard to create a renow exchange which can please people quickly.

We've got more than 2000 cryptocurrencies on the CMC. Among this very few have got good trading volume and has got listed to large number of exchanges. Also the existence of more and more cryptocurrency follows, and for the same we're in need of more exchanges. Even now we've got large number of exchanges while a few function perfectly and holds good trading volume.

Decentralized exchanges are great for exchanging but you can't trade on them, they are too slow, too clunky and they offer 0 customer support in the way that if you fuck up something, they will not help you, they can't. I can't imagine someone who wants to trade with 10m $ using a decentralized exchange where 1 click can make you lose hundreds of thousands of dollars, it's simply never going to happen. When decentralized exchanges are as fast as normal ones, a lot more people will use them.

Why not, you know there is a lot of exchange but still, you are going to use them. of course there are a lot of pros and cons to this. like we know it can devide the potential users and at the end they can even make them leave the network but on the other hand because of these exchanges we can observer different prices at multiple exchanges, which can cause better profits.

I think we already have so many exchange platform and we don't really need new ones unless they can provide us something new and more secure system.
We already have plenty of well known exchanges that has been with us for so long so why would we need a new one if they couldn't give us something different from the old ones.

Cause of its numbers, some exchanges especially those low volume exchanges haven't recognized by some traders and it so sad that some of them have already bankrupt.

Yeah, it won't make sense for now if we welcome another exchange cause we have already and speaking of reputable one, have its numbers also. They'll only have to sustain their good service or even more to attract more traders to use their platform.

I think we have enough exchange already! The crypto market doesn't need any new exchange but if Decentralized exchange comes then we may welcome them! Otherwise, we have plenty of exchanges and a lot of exchange hasn't enough volume. Sad but true that people are very greedy now, they are bringing exchange base ICO as its previous successful ratio pretty good! But yet we have enough exchanges!

It's not about how much but to whom they belong to. Each exchanger belongs to a company owner.
Different approachs and mindsets, visualizations makes each exchanger a new one (unique pherhaps).
Having many exchangers gives us (the users) opportunity of allowing to chose from a big list on which is the best for our goals.
It's just a matter of preference in the end for each individual user.

We need real time concurrency. As more exchange options we have, the better the offered services will be.
That is a basic rule of free market: if a exchange is doing great, the concurrency will have to offer a better service to take the customers. Then the first exchange will have to improve their initial service even more to not lose the customers, and so on. It may be challenging for exchange owners, but for customers it's pure convenience.

Exchanges are needed in this space but few are legit. All the exchanges want the same thing and that is to make money from this market. Now, these exchanges continue to pop up because many of these shitcoins are not listed in these big exchanges and the communties flock to these exchanges that list their tokens/coins so if you guys remember cryptopia was one the exchanges that listed shitcoins that were not trading anywhere else apart from yobit. These are very risky exchanges usually with low volume of for the most part with fake volume to lure in traders. I hope people got their lesson learned from the recent hacks to excchanges. Even binance was hacked but they have the funds to cover the losses. Most of the other exchanges can't take that hit and stand up. Remember, not your keys, not your coins. Buy a ledger or a trezor!

For me it's simple that i don't need many crypto exchanges but the most important is we need trustable crypto exchanges with low fees, high volume of support and anything else which advantages for the users themself and if possible no KYC required to have an accounts at there because in my view it could be useless if plenty of exchanges but they have bad service

We do even some friends think we are.its not important about the sector, the biggest problem is monopol corps.if there are no rivals, there will be no improvements, price balance or owners satisfaction.

What do you think would have happened if only two or say 3 exchanges exist???
Definitely there need to be more to enhance competition. We have seen exchanges with zero trading fees and that to me, is as a result of the competitive.

Among the exchanges on CMC and it is worth competing! Why create thousands of new ones? Answer the truth, how much you really do not just use, but know the stock exchanges? I can list about 15. All! I will not explore all the exchanges listed on CMC just to save on commission.

There are a ton of stock exchanges, what are you talking about? There are 60 major stock exchanges in the world but there are a ton more with less volume. The crypto market is too fresh so it needs new exchanges that have more regulations or other legal requirements that might be needed in the future.

Compare stock market with market of critpos is very wrong. First of all that purse exists a whole regulation, so you few. Secondly, because they are service providers and therefore intermediaries, the exchanges compete among themselves, so it is normal for us to have many of them, because it is simply a competition.

Personally me i don't needed many Exchanger, I would always like to have more popularity exchange and hard security development. Because the top exchange never goes unless the currency is attached.
Therefore, this exchange currency is less likely to be dumping. So I need more Exchange and I will not participate any new Exchange.

Actually I don't need too many exchanges, but I also can't prevent it when a lot of new exchanges are popping up because it is purely a competition and they are competing to offer better features to beat.

First of all, the more the better. If we have many exchanges then the project owners can choose the best exchanges for them to list their coin or token.
But if you are asking why there are many exchanges aside from coinmarketcap? It is because launching an exchange is very profitable.

New exchange will surely face a lot of hindrances and problems but there are plenty of new exchanges also that are slowly rising to the top because of their good marketing strategy, so everything will depend to the team behind the project.

No, there is really no need for more exchanges and it will just depend on how establish the exchanges and how strong its support to cater huge demands of crypto exchange. However, if there are more exchange then it would be better serving the needs of every client that wants to trade using the exchange.

So, i disagree that the number of exchanges will be a disadvantage to the cryptocurrency system knowing the huge traffic or demands could be made globally.

We need many exchanges for healthy competition. however, many are not living the dream but milking investors dry by their fraudulent charges as the banks are currently doing to their customers. We need innovative and superior technology in exchanges, which only a few offers.  Maybe we should consolidate on the existing ones or just continue with new ones until we get it right.

There is nothing wrong with that. More exchanges mean more choices. And some of these exchanges are limited to a certain geographical area and some of them allows the trade of coins of a certain type. We don't have a centralized exchange where all the available coins are being traded. Right now, there are close to 10,000 different altcoins in existence. The vast majority of them are not traded in any of the exchanges. I guess Cryptopia had the maximum number of coins (before it closed down), at around 600. Now Yobit may be the exchange with the maximum number of coins.

Despite the fact that we have really got a lot of cryptocurrency exchanges and exchangers, we cannot yet find such an exchanger so that any coin or token can be exchanged for regular currency. Universal exchangers, and especially stock exchanges do not exist.
We also need a lot of exchanges and exchangers in order for there to be healthy competition between them, which should lead to improved conditions for their use.

We don't need this many but how can you stop people from wanting a piece of the crypto exchange money making machine? It a like the sport betting sites do we realy need 1000s of them? Off not but that won't stop new ones from starting.

There are a lot of reasons.

For me, that is for profit and efficiency. I usually keep some of my cryptocurrencies in an exchange in order to sell them if a certain price that I like comes up. It is a hassle keeping them in your wallet, sending them to exchange, making cash out and then if that exchange had a good price for the crypto you send that back again for selling. Another is the efficiency or the features they offer to their users that usually make some of the things more easier.

it is not just about money grabbing, but mainly because the existing centralized exchanges all have big flaws in their design that doesn't satisfy the needs of the cryptocurrency market traders so new ones are created to attempt at filling that gap but eventually they either don't gain enough traction or if they become big (like binance) they turn into the same flawed thing.
for example KYC is one of the worst things in altcoin exchanges. new ones come alone without needing KYC at first, they become big then they enforce it!

They have to enforce KYC if they want to run legitimate business. Thee are strict legal rules when and why you have to implement KYC rules into your business. I guess no one wants to risk big punishment or closing the business because they are not complied with the law and actually I wouldn't like to do business with such exchange.

because the more exchangers, the more cryptocurrencies are traded with even volume. and not too focused on one exchanger.

It's business you know. As long as you have the budget and knowledge to create it no one can stop you creating your own exchange. The problem is why should we trust your exchange, how can you promote your business and earn the trust of many people. It isn't easy to do that and will take some time to make your own exchange known to many people.

It's truth, there's a lot. The person who opened the topic has a pretty good point.

I don't think that it is a thing of if is needed or not, is about this being a free market and they trying to make money with the companies they started and everyone who follow the laws has the right to try to do it.

That's why as long as they see opportunity and profit, more will probably keep coming.

Because not all coins listed on the exchanges are the same, so we need lots of exchanger to buy good coins and the potential to rise.

As a matter of fact variety have it's own advantages.
Since there is always a completion people sought to go with the one providing them with best resources.
Exchanges increase their quality over the counter ones and at the same time it's amazing to see how it booms so fast in such a short amount of time

Why do we have so many vegetables? Or clothes ?
To choose from exactly.
Therefore it's for our own benefit , but no matter how good it sounds only a few are gonna last till the end.

This is business out here, different exchanges have different owners but have all the same purposes and goals, to make money. In any case it is good for instance one cannot trade on one and can in another, I see people having a hard time just registering in one so they go to an alternative. The only one that matters is on how those brokers would give customers satisfaction.

We need more exchanges as now the market is down and most of the big exchanges have become insolvent, have been hacked and some just couldn't manage to earn enough to keep the site running. Having few big exchanges is not good for small projects who can't afford those enormous listing fees and they manage to get listed only on etherdelta and IDEX which is not good as the buyers dump the price and those coins just lose their potential of gaining momentum in the market.

In your reply unfortunately I do not see the adequacy.Why create hundreds of exchanges if they do not have the funds even to maintain the health of the sites?I met quite a lot of exchanges that simply disappeared and their sites did not work and my funds remained there. Since then I have used proven and reliable exchanges.

Maintaining the exchange site shouldnt be costy and shouldnt be a big problem to the owner because they have a big capital , they have huge cash since theiry business is an exchange ,they collect money from other users but if they eventually dissapear then they really intend to do it because they maybe have a dark plan and that plan is to scam inocent people. This why we should only use and trust popular exchange because they are already proven and tested compare to unrated ones  .

There are many exchanges floating today due to the profits they may get in cryptocurrency industry. Many developers wanted to make money using their websites and it may lead to a scam exchange because some devs are making it to fool people specially, new traders. On the other hand, it is good to have many trading platforms because we can see the various characteristics of an exchange. Just like their trading fees, network, liquidity and customer service.

It is obvious in crypto world competition is existing so as a user we should really choose the best exchange with the best securities they have. Granted many platforms existing be observative on their platforms, fees and their support if they can able assit users so always think of safety first of your funds because some their exchange got hack.

Exchanges help to diversify the offerings for investors, buyers, and traders who want a platform that perfectly suits their needs. Some people prefer exchanges which are user-friendly, while others look for security and authentication.

There is need for more exchange for competition reason and securing but the current situation in the market has not really enhance the level of competitive which many are not even good at the job but just want to be in control of the people funds are has nothing to really show for competing .

Some offer different benefit to tackle their opponent which gives hedge to the users to select which one is better in terms of fees and security , but to be the fees is nothing but the security of users funds .

Just like what happen to binance of recent which if it were to be one of these exchange , that might be or even the end of the business but in binance nothing affect the user and the business is on and safe again .

What defines a proven and reliable exchange? One which pays on time and doesn't ask KYC or one which takes a long time and asks for KYC? I have used many reputed exchanges and the same exchanges ended up scamming me or getting hacked. The truth is all exchanges are the same as they don't have any laws to protect the traders so even if we have a lot of exchanges, I don't see it as a problem and of course, I don't even trust Binance and Coinbase as they too can anytime scam their users. The scam of cryptopia is still fresh in my mind as I lost my money there.

Actually, we don't need as many exchanges as existing, but it's competitive market, and the best exchanges absorb the biggest audience. It's hard to say that the abundance of exchanges is bad, because if there were only 1 or a few exchanges, they could create a monopoly with very harsh fees and other conditions for users. So I'm rather for a variety of exchanges operating under different terms & conditions than a monopoly of a few exchanges. However, we still have a few big leaders that can affect the whole market, and that is not very good.

the new digital currency must require a lot of exchange, this is useful as a promotion while earning profit, because the new digital currency if it does not have a lot of exchange the price cannot be pumped and is not in demand by buyers of tokens

People like to have many choices, simple as that

Why do we have so many different video games?

Why do we have so many different clothing stores?

why do we have so many different online casinos?

Hope you get my point

Besides that, the present of the exchanges will help us to gain more and more profit, and some of us has already used the exchanges to do arbitrage trading, and I am sure that they can make a nice profit.
We don't need to trade on every exchange in out there, and we only choose one or two or three exchanges to trade so we can stay focus to make the profit.
I think with so many exchanges we know right now, and we could see how much the difference of the price in every exchange so we can decide to do arbitrage trading or trading in one site only.

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.

If you are really looking for profit, you need to have a good front end software to attract new customers and it should be user friendly, the real risk associated with running of these exchanges are evident with the numerous hacks that happened around the globe, it is not that easy to run the exchange smoothly but anyone with basic skills could start one, there is nothing wrong in having competition in the market.

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.

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.

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?

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.

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 :)

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.

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.

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.

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

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.

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..

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.

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.

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.

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

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.

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.

It's all about market competition, the one who will gain trust from investors will also be the one who can generate more 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.

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 

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.

If you can see about many exchanges rate the value are too different from one another many exchange means that there are lots of provider and competition this will help the price to gain more value than others they need to put a good value for them to used by the people.

The thing with bitmex is all those people using it are only using it to gain leverage so to cash in on bitcoin when it rises or falls. It is not an exchange but a tool for those who are into trading on shorts and longs.
I dont use them so I couldnt tell you how lucrative this could be.

I created an account with Bitmex in 2018, but never traded on that exchange. Heard mixed reviews about it. Some people were happy with the quick withdrawals, but as you pointed out some were disappointed with the frequent outages. Somehow this exchange has managed to gain the top spot for BTC/USD daily volumes (just hoping that the exchange data is not faked). Now after the bull rally, the volumes have risen to somewhere between $2 billion and $5 billion per day.

Yes that's my purpose too for arbitrage my coin into more exchange with best price , this happen when my local exchange can't handle price to sell it. And I am happy when exchange can withdraw fund without sending any document for KYC, even Cryptocurrency don't need that like debit or credit card.

I agree, the stock exchange has really opened a lot recently and continue to do so.But on the other hand, it is a competitive market among them, because of this they are forced to retain their customers or attract, for users it brings its advantages.

we would not have needed many exchanges, but i think each exchanges created are with better services and as a result of the competition and comparison it either relegate other or challenges others to upgrade. and this is all to the advantage of traders, the exchange charges are also different and faster.

We don`t need so many exchanges. It is bad for the crypto community because many exchanges are doing dirty activities like hacking and scamming. We only need few solid and safe exchanges. Few exchanges could lead the market with better progress.

As I seen there is lots of exchanges popping up every day . It’s having big advantage and disadvantage . First thing is that most of the coins are getting listed in this exchanges where they are not having option to listed in big exchanges . Cons is these exchanges are not backing with real bitcoin or ethereum its just a digital indicator or number.

Yes, peoples love having a lot of options to choose the best ones for themselves. The exchanges standing for a long time have really attracted a number of peoples on their exchanges and also considering newly launched exchange, we can't see that great trades onto it for initiative. Peoples love having a lot of options for themselves where they can opt for the best one and also there are a lot of peoples who are trading on multiple exchanges at a time and making profits from the small price variation for the single coin but on multiple exchanges. Benefits and features about the exchange makes it more widely usable.

Who said we need many Crypto Currency trading platforms? ??? Most of the new exchanges that are sprouting all over are illegal and they don't have any license to operate their businesses and most of these exchanges do not care for its customers and they only wanted our money. We don't need many exchanges we only need the legit ones with high volumes and with real people who are trading with it. :D

More exchange, more competitors, lower comissions for the users. I think is good that there are so many exchanges but, are all they safe? For me, that point is more important. What do you think?

We don't need so many exchanges, but we do need the competition that will sort the good from bad ones. Sooner or later decentralized exchanges will arise. Those exchanges that do not provide value to traders will gradually disappear.

Why do we need competition among the exchanges? Competition should be between the crypto-currencies and not between the exchanges. That said, I don't want any monopoly among the exchanges. But to prevent the monopoly, we don't need more than a dozen exchanges. But then no harm is there if we have a thousand instead of a dozen.

So? My point is that there are really big fish on bitmex, people there have millions of dollars. I mean you cant even withdraw at all times, only once per day

Its not that we need it, its a business and in every business there is competition and we cant stop that.

In the other side it is good for us because we can choose among those exchange where we will trade our coins with higher value.

I'm happy seeing this thread. I've used virtually all the exchanges and I wonder why the multiplication of exchange. Agreed we all started with different exchange at a time and depending on the tokens we had, moved to other exchanges. It's becoming scary with exchange opening almost everyday. Some don't even have use cases or a clone of existing ones. Yes, competition is needed but when value lacks in this new exchange, it's easier for them to be hacked and go under 

Yeah there are lots of exchanges, and I was very surprised because I see lots of exchanges that I had never heard before, many of these new exchanges, mostly listed ICO or some small altcoins which did not have a market in a big exchange. of course there are advantages and disadvantages, the advantages are there are many options that you can use to trade, marketcaps are getting bigger, but the drawback is the risk will be even greater, many exchanges will emerge then a lot of scam exchanges, or shitcoin that is traded freely

Thanks for this interesting discussion!

We really don't need many of the existing exchanges. It's like a business, exchange platforms is one of the most profitable platforms we can easily think of if we are talking about assets. If we try to see the good thing about it, the new exchanges are providing competition to this domain of the market. This made many exchanges provide a better user experience, and provide benefits to their users and many other schemes to attract more users.

That is competition, each exchange give the best service for all users, such user-friendly, low fees, fast-transaction, etc. So that's why new exchange always present with the best offering, better, but sometime it's only expectations.

I guess, at least we need one exchanges in each country (local exchange), so they will provide us FIAT pair or Local currency on the exchange.

Personally, I like the presence of many exchanges, I can use it and choose the best for me, for trade or hodl my coin (so, not only in local exchange, hehe).

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.

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.

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

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.

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.

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.

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.

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.

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.   

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.

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.

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.

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... ;)

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.

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

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.

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.


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.

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.

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.

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.

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.

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.

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.

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.

A very good answer. Indeed, the supply does not match the demand. Cryptocurrency users are really getting bigger, but do they need new exchanges that even experienced traders do not need?I do not want to say anything bad but as an example I want to present the exchange:https://www.ironx.com/home.html (https://www.ironx.com/home.html).If I am not mistaken, they raised $ 20 million for their development during the ICO.I think this exchange has no future.

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. 

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.

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.

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.

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.

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.

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)

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.

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 (https://www.zedxe.com/).

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.

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.

My thinking is different. If there are too many exchanges, then the revenue per exchange can drop. And since limited funds are available for the operations, the exchanges may cut back on safety measures. And this can increase the risk of them getting hacked. If there are a few large exchanges, then they can employ a lot of security measures to thwart hacking attempts.

More crypto exchanges show more and more trade participants, where the amount of money in circulation is an indicator that crypto can be accepted in that country.
For traders, the increasing number of crypto exchanges means more choices for transactions because there will be competition by providing a lot of added value.

Why do we need lots of exchanges? the answer is because we need more references to trade. Then what exchanges will be of interest to many new users? the answer is that exchanges have small transaction costs, the minimum withdrawal is small and the most desirable is an exchange that does not require KYC for its users who want to trade on the exchange.

I personally think we don't need so many exchanges. There are too many exchanges in market but maximums security system are very low and as a result we see exchanges are hacking maximum times even binance are hacked recent days. So i suggest  low exchanger but strong security for all.

We actually do not need that many but thinking about our current situation, it is actually good to have many Cryptocurrency Exchanges that can be available in different countries. Exchanges can handle different volumes of Cryptocurrencies depending on their servers. We can have many exchanges because every exchanges may have their own special feature and that feature might not be available on all the exchanges due to different founders and that is actually good because we can create our own decision to choose which exchange will give us more profit on transferring funds.

If i asking you why we need a lot of new cryptocurrency day by day? Crypto exchange platform is one of the best profitable business i think.
But i think we need only new potential and transparent exchange not more shit exchange. But still we have many reliable exchanges in the market.

We do have so many exchanges right now I used to believe that  ICO based exchange is better ICO to invest, but was proven wrong after the IRONX fiasco and XERA exchanges, some people tried to set up an exchanged and launch an ICO without knowledge on how to set up one or even to market it, with a very stiff competition, weak and poorly managed exchange will close.

We don't really need many exchanges if the one existing offers everything that their costumer are looking for. also having many Exchange sites bring competition which is good for the costumers because it drives the owners of the Exchange sites to give the best service they have to avoid losing costumers and reputation be ruined.

Its businesses that tries to get their chip in this super volatile cryptomarket, except for decentralized exchange which have other purpose. Capturing a good volume means good business, good exposure and popularity. From a business point view i believe the profit rate of exchange is simply too good to ignore, automated fees and listing fees, and all you need a super good technical team with highly response support team.

This is business and everyone need profit. If we have one market then there will be someone in control about Price and demand but as because there are multiple markets so we can have used demand instead of an individual. So having multiple markets create multiple demands and multiple supplies making the market work.

Will not be a big question and to see a huge number of exchanges exist now. That is we called a market competition, everyone wants to compete with others and so creating their own exchanges will they think that could be the best option to take.
There are some advantage and disadvantage to this,
Firstly, it gives us options. Second, it makes others exchange to bankrupt or having an exit scam. They can't take the competition and taking them into down.

it is not "we" who decide how many exchanges are there to be opened
there is this thingy called capitalism and free market
if there is a profitable enterprise , it will always find its way to open and if it stops to be profitable it closes or is bankrupted
there are so many exchanges because it is crazily profitable - they are making money out of the thin air , they just provide a platform for people to trade and charge 0.05% + commission for every exchange , this is better than selling drugs or trading weapons , just because in this case you do not have to possess any asset

Why did you put this discussion topic into the discussion section of Bitcoin? I think it should be transferred to the market discussion ;)

Because they are offering different services and charges and this will benefits us all crypto traders and holders for having many options on where to trade ..

But we must be aware that only few from the list are legit and offers rightfully,many exchanges like Yobit whose scammers and many issues has been thrown thru the years so be careful

When I first entered the world of cryptocurrency in 2012, there were only two crypto-exchanges in existence (as per my knowledge). They were Mt Gox and BTC-e. The former was preferred by most of the users here, as the identity of the owner was known and the reputation of the exchange was good. On the other hand, BCT-e was famous for not asking any KYC information and it was considered shady. Newer exchanges such as Bitstamp and BTCChina came in to existence later.

The first shock came in 2014, when Mt Gox got robbed. Huge amounts of coins were stolen, and suddenly the users felt insecure about the exchange wallets. But I continued to trust BTC-e, and until mid-2015 I used to keep almost all of my Bitcoin holdings in the exchange wallet of BTC-e. After that I moved my coins to a Blockchain.info wallet.

After the Mt Gox robbery, there were a few high profile hacking incidents. The one that impacted me the most was the Sheep Marketplace robbery. I never had an account with SMP, but the fact that the robbery was an inside job (Tomáš Jiřikovský was the robber, and he was the owner of SMP) made me lose my trust with these exchanges and dark markets.

Nowadays I hardly ever use any of the exchanges. I don't have any significant holdings of altcoins, and another factor is that I don't want to undergo the KYC process. Only Bitstamp remains now, from the old times. But I have learnt my lesson during the last 7 years. Can't trust even Bitstamp.

It's not a discussion about the state of the market but exchanges as part of the general system. We need exchanges for Bitcoin to function properly, especially that in most places you can't pay your electricity bills in bitcoin, so mining is impossible without exchanging some of your coins into fiat, which makes exchanges an integral part of bitcoin.

I believe that we need many exchanges to have a choice. There's no free market without choices and competition and this is what we are trying to build here.

Also to give more competition, as you said the crypto community is actually not in need of all these various exchanges however the appearances of many new exchanges could give competition that will definitely benefits us as a cryptocurrency users so there is nothing wrong with that, also that many exchanges could atleast find and exchange information about security I guess, so that's better.

I think the main reason is that there could not be an exchange with more than 1000 cryptocurrencies, each exchnage deals with BTC and ETH but then each one deals with different altcoins.
if it were easy to manage 500/600 different altcoins, few exchanges would be enough to cover the whole market, and frankly it would be much more convenient

Currently all exchanges are in full control of all the records of everything that happens on them. If they were to change something like a balance, how would you prove it? With us every action is signed by both parties private keys, forming what we call a personal blockchain, a chain of signatures between 2 parties agreeing on every action. This gives users the ability to prove foul play.

Example. if we were to steal funds the users would(and should) call us out publicly and show they had funds by revealing that part of their personal blockchain. It would then be on us to show that those users did something with their funds, if we cant provide the users signatures to show what they did with the funds then we are proven bad actors. The goal is that with this tech as the backbone of the exchange we disincentivize ourselves from doing anything remotely untrustworthy because we provide the tools to call us out.

Yobit managing around that number , do you really think several Yobits would cover all the bases in crypto exchanges?
most of the lats are just useless copies of the same idea , it is hardly 100 coins in total worth to be considered no shitcoins
the rest is made to earn money for the creators and in most cases they are useless
but since the whole market is new , the Darwin's principle is not working as of yet

I am not sure about the total number of altcoins, but I read somewhere that it is close to 10,000. Let's assume that half of them are being actively traded (taking a very liberal estimate), and that gives us a total of 5,000. The defunct Cryptopia had close to 600 different coins listed in it. But they closed down last month. Another option is Yobit, but that exchange doesn't have a good reputation.

We don't need a lot of global exchanges but can't say the same on local ones, there is a lack of them in some countries and more exchanges in such countries can help to fall fees.
In overall, yeah, a lot of exchangers are faking their data in order to get better positions on coinmarketcap and get attention of new users.
Not fastest or easiest way for scamming but it's really easiest way to collect users' data like some do, block you for no reason and ask KYC to unlock account.
Nowdays there is none exchanger which you can trust, not even binance too, none of them is reliable.

There are so many exchangers right now and each of them had a goal. Some of them are for the tokens that are only legitimate coin and some of them are just listing even if it is not good coin or token. We actually don't need many trading platforms but we do have the right to choose what trading platform we wanted and trading platform that we are comforted to use with.
Many exchangers will be release in the future but we should learn how to choose the right one and legitimate one by researching.

I think that more Exchanges are needed for the simple fact that most are very congested, some are level 1 but they do not have features that some traders are looking for, like placing Stop Loss and Take Profit at the same time in one position.You should also be careful because there are many Exchanges that are supposedly Exchanges and end up being scam, you must be very careful with it, and you must have more Exchanges to have the money in several to do as many operations as the trader wants.

The issue that they are at present confronting is awful client experience as they are difficult to utilize and they additionally face liquidity issues which legitimately originates from the past one and from certainty that so as to utilize them you should initially get some digital currencies for fiat on some brought together trade and starting there you can utilize decentralized trade to trade your advantages since fiat exchanging is as yet not permitted in most decentralized trades.

Indeed, exchanges have become a lot recently, but on the other hand, the competition of exchanges brings benefits to users, because users need to be stimulated by shares or other incentives.

The advantage is we have many options to trade crypto coins. It should be good for traders or investors to get their best places to buy or sell. Besides, it potentially provides a tight competition among the exchanges to trigger each exchange shows its best performance. A good stimulation to improve exchange quality exactly. 

We don't need many exchanges but it is the lucrative nature of the exchange business that is aiding the springing up of new ones everyday. They just make money from fees and nothing to pay for apart from human resources to man the exchanges.

More exchanges are necessary because the crypto space is growing incredibly well. As more coins hit the market each time, the need for more exchanges with improved services are required in terms of security, transparency, cost of transactions etc.

We have many exchanges if ever there is a hacking that will happen since there are still many exchanges to choose but it is unfortunate if you haven't withdraw your funds before hacking occurs.

I guess that's true, but we have a big number of exchanges in the market, of the total exchanges, I think only around 10% is real and reputable exchange.
Quality of exchanges are more important for people to trust the crypto space, most of people here are traders, and even investors they have to trade.

Multiple cryptocurrency exchanges offers a variety of services to the crypto community and with many available, people can choose the best exchange that suits them. Every exchanges offers different features like dependability, convenience and security to meet the needs of their users. Cryptocurrencies are increasing continuously ans they are already thousands of them and to accomodate all of them, more exchanges are needed.

I agree with you in this. Just like online stores are there in number and varieties of services so I think exchanges should also be similar to that, for users to have more options and each of them have different and unique services that they can’t find from the rest. The problem with trying to offer something better as you said is, scammers are also up to this promise. They promise too good services to entice and catch victims for their own benefit. These promises of unique and good services are being used as baits for easy catch.

We do not need so many exchanges  we just need enough for the assurance of stability of supply of a certain coin ,enough to make sure that the price of a certain coin do not turn to an instant shit or dead coin.

Competition is high and yet many good exchanges are still running simply because they have a good business here in cryptomarket and many users believe on them, we need more exchange that can give us more security.

Alas, no exchange can guarantee the stability of any coin.And whether a coin will turn into shit depends only on the demand for it.Moreover, if the exchange will ensure the stability of the coins, many will simply leave the crypto world. Although volatility is a minus of the cryptoindustry, traders and investors love risk.

How can an exchange guarantee a certain amount of supply of a particular coin? Only the whales and promoters may be able to do that. In a typical ICO, anywhere from 30% to 50% of the coins are reserved for the promoters. And in case they decide to dump all of these coins in one go, then there is no doubt that it will become worthless.

We are in the verge of having the mass adoption which the current number of exchanges  may  not be enough to cover all we need if in the next few years 50% of the people in the world are going to use cryptocurrencies. The exchanges today aren't as complex as what are created these days too. A foreseen future is that we might all be needing the dexes because CEX are more vulnerable to hacks.

We need as much as many exchanges becasue the market is expanding day by day. The more these exchanges the more the seriousness on their part to secure investors investment. If we have only few exchange then the market be be manipulated by the owners, the more reasons we need more of these exchanges the better. 

Their would always be competition and we would have many exchanges as well in future as well. If not thing is that we should be vary about what we are using and should only trust the well known ones which would help us and not get scammed .