Bitcoin Forum

As more tokens keep coming into the market, it is assumed that more cyptocurrency exchanges will raise. this, we all know have a risk effect which is that hackers are empowered to try their luck especially on vulnerable ones. The good side is that more tokens has the oportunity of getting listed on exchanges.
example; NCHT( nano healthcare)  project just got listed on etherbase exchange.

We already have a lot of exchanges to choose from, and whether you’re a new exchange or the top exchange you are still prone from the hackers, even Binance got hacked. Yeah, many opportunities for a coin to be listed but if you put that coin into low volume exchange, then its still useless. I know a lot of coin that list on low volume exchanges and until now they have zero volume of trade.

The more exchanges are a sign that more people are interested in crypto. this is getting better because competition will have a good impact on the services of an exchange.
of course security is a major issue.

Creating an exchange is also another way of money laundering for fraudsters. I know cases when the exchange was a scam and was stealing the money of their clients. Therefore, it is necessary to be careful with all the new exchanges.

I think you are misreading that correlation. An increasing number of tokens and an increasing number of exchanges are both just symptoms of the hype around crypto. Token issuers are doing a cash grab because hyped investors want to throw their money at anything they can. Exchanges see the hype and want to capitalize on it via trading commissions. Some of them are probably planning a long term exit scam too, disappearing with customer deposits, because it's the easiest method they see to amassing crypto wealth.

Hackers will continue to gain interest in stealing cryptocurrencies because of the irreversible payments and abundance of easy targets. Lots of vulnerable exchanges out there.

The market is already flooded with so many exchanges that are not doing anything different than the already existing ones, so lets think about it if a person wants to launch their new coin and wants to put it on exchange, will he chose a top leading one or some dead exchange that has so low of trading volume, of course he is going for the popular one if he wants for his coin to succeed, and so is the user will he go sniffing around for some dead exchange or use a popular safe option like the popular ones, so how are these exchanges are going to survive ?, the market does not need more.

Whats the point on this post?I do see you are just shilling out NCHT.Hacking of exchangers is inevitable

and would continue as long this market circulates money.These places are like honeypots.We don't actually need lots of exchangers which having
a few in numbers will already be enough.

Maybe exchanges should invest in more security because that’s the best thing they could do if they want people to trust them. Eventually, you could realise that in The long run, it's going to be worth it. That's the main concern when it comes to checking out exchanges; maybe it's yours too.

I think it's an excellent opportunity to have as a trader to see different exchanges like arbitrage could come up but the tendency of fulfilling it would be hard. You need to be fast on it. But when it comes to an interexchange arbitrage. You could use a bot for it, like BitRage (https://gunbot.ph/bitrage-the-best-arbitrage-bot/)

This is a free market. Business people will always take advantage as long as they see a demand or an opportunity. The good thing here is that these new exchanges will be forcing older exchanges to improve their services if they do not want to be left out.

No, increasing number of shitcoins does not mean a direct corelation exists between the rise in the number of exchanges. If anything the number of shit-exchanges should reduce down and there should be an unofficial official group that would either approve an exchange or disprove it.  More number of  shit exchanges are definitely a loss.

Assuming there is no system to regulate this, the thought is not correct. Also I do not think there is a limit in the exchanges.

Yes, the exchanges have been increasing, but most are unnecessary.

More like advertising and useless.

A lot of the newer exchanges I've seen released recently offer basically nothing new to the crypto ecosystem at all, though that's not to say that all of them are useless. As mentioned in OP, there is also inevitably a number of these exchanges that are weak on the security side which might not bode well for the users of these exchanges. For this reason alone I and many other people here recommend using larger and older exchanges with reputation over a newer exchange without any longevity or reputability. Some older exchanges might also have security flaws or flaws in other areas too, though.

People are different, so are their coding skill sets. By that I mean that what one considers to be a super secure exchange, might be considered an exchange ripe for a hack, so totally not secure in that case.

Another thing is that the far majority of the people have no clue about how secure or not secure an exchange is. Can you tell me what makes you consider a secure exchange aside from basic security features all exchanges already rock?

People's "trust" in an exchange is usually based on volume because that according to them means an exchange is used by a lot of people, where they completely disregard wash trading and other forms of trickery.

More exchanges means more opponents in this business, which leads every exchange to improve their services, in overall it's good. New exchange doesn't automatically mean people will start to use them, it's very hard to gain customers these days when there are established big exchangers. Those who care about their money, maybe will stick with popular exchangers but those who aim to add as much coins as possible, will gain new users and who knows, maybe they have better security and in future will rise.

That's not the point. Everyone has a different coding style but there is one goal here, to be more secure. How can you say that it can easily be "ripe" to hack if it invested in awesome security or something? It's all just theoretical btw, I don't know how exchanges work.

It's true that normal users, like me, would be able to say that it is secure. I think the best way to consider is to check its reputation with the exchange, knowing that if it has been hacked or something. I think almost all reputable exchanges have been hacked but it's up to the management on what to do with it. Honestly, I don't know the right thing but it's that one.

Just like I said above, it could be incorporated with the number of users with the volume. I think people should just stay away with shady exchanges.

The more competition that better of us consumers. The downside is that hackers will keep thriving on this new or even old exchanges. So it's really very very tough if you would assume to put up a exchange right now. Not just the initially money you have to shoulder, but the amount of responsibility just to keep it going and away from the hands of hackers.

Exchange is becoming more and more but the competition problem is really big. Besides, you can see that there are a lot of bad exchange operations and it is considered big risks, they can go bankrupt at any time and take all the money of investors and give up. hide.
There are too many issues that need to be resolved and transparent at new exchange. These difficulties make larger and larger exchange more and more powerful: Binance, Huobi, Gate.io, ...

It means more headache for the bounty hunters. Imagine what will happen, if a bounty hunter participates in 12 different bounty campaigns and end up with a dozen different tokens in his wallet. Now let's imagine that all these tokens got listed in different exchanges. The bounty hunter will have to register with all these different exchanges and he needs to undergo KYC for each one of them. On top of that, he need to pay the deposit / withdrawal fees to multiple exchanges.

The more exchanges, the more it affords new tokens the opportunity to get listed.The thing is just that more crypto enthusiast do not trust new exchanges,as they usually have low volume.

The more the exchange, the better, as other exchanges will up their game due to competition, competition is very important in this network and that way every exchange will seek to upgrade it's system and make it more user friendly for customers.
That being said any cryptocurrency exchange can fall for hacks, though the chances of it being a well popular exchange is low.

As long as the exchange is a legit exchange they are going to get some investors that will have interest in them. But I always feel that these new exchanges are wasting their time, because bigger exchanges are not going to give them any chance… that is why most of them ends up faking their trading volume and deceiving people to think that it is real while it is not. But it still doesn’t make any sense because at last they are still going to caught.

Known exchanges don't list new coins or projects that easily, they follow a certain rule that they set before they list a coin, unlike those new exchanges, their rules are relaxed so that new coins or new projects are given a chance to list their coins or tokens however, there's also a risk that comes with it, we don't know if this new exchanges will run away with our money.

The growth of more exchanges can't be stopped.

They are taking advantage as well of the growing crypto.

For general concerns, just deal on it. For self-concerns like being hacked, being scammed, etc. just don't use those. If by the case that the coin/token is only listed on those said exchanges, then that's the time people have to test the waters there. Risky but have no choice.

I think too many exchanges will benefits us thru their competitions making their price and services to become more reasonable and cheap so i think this is good as we have plenty of exchanges to choose from. The risk is not ours but to the exchanges owners that they should ensure the security and safety of their clients assets because their reputation is at stake.

The market for new exchange is already saturated. There are already too many exchanges available in the market that some of them do not have any volume.


The bad side is, even if these tokens get listed to some new exchanges, there is very little chance they will be noticed or get some volumes. Most new exchanges have very little or fabricated volume. It is still best if it gets listed to established or popular exchange.

I guess there's no loss if you knew what coins you're buying, and when the community is actively doing developments. The only situations which put you risk of losing if you're trading at bad exchanges like thus new exchanges lauched. We can't avoid one of those exchanges, they're capable of coming up at any instance.

Yes that's true there are so many exchanges that hold ICO last year and early this year, there are promising and there are those who are left in the dark, there are a lot of warnings about what coins to invest, but now there a lot of warnings which exchange to choose to trade your coins, because there will be a lot of scam exchange or exchanges that have fake volumes and cheating you of your transactions.

But for me, i still prefer to trade in exchange that already have good reputation or maybe can be proven really secure even actually the system will always get problem by hackers but don't know when. And not really like to speculate in new exchange.

actually then number of altcoins has nothing to do with the number of exchanges. the number of exchanges depends on number of users and the demand that they might have. right now the number of users is increasing while the altcoin exchanges still have many issues for example many of the big ones are currently enforcing KYC so you have to submit your documents and also be subjected to a lot of restrictions and other things that most users don't like. so it opens up room for new exchanges to come out and try to satisfy that need. in most cases these new exchanges are bad and eventually also end up going the same rout as others making them obsolete.

It is a good thing we have a lot of exchanges, at least there will be a lot of options to choose from, I remember in 2017 when there were just few of them, Binance and Bittrex were locking new registrations and at some points were making a quota thing and that was preventing traders from buying their favorite coins at that moment

This is a good one the only bad side of this is that as the exchange ia getting much so are scam exchange springing up. One have to be extra careful so you don't trade on a scam exchange

the more exchanges that arise can be said to be a manifestation of the development of cryptocurrency so as to increase the number of business competitors and be able to increase trading volume on each potential coin that is good to consider so that it can be used as an investment asset that can be profitable. I think if a new exchange arises and can have a positive impact on the development of this technology, we must provide support so that the crypto industry continues to grow

More exchange means more options but doesn't mean that it can create positivity yet imagine how many exchange

we do have currently now?Its just being flooded the entire market but somehow having more give us lot more of choices
so its still a good thing to have.

I for one don't like all these exchanges coming up everyday. It's getting crazier. While it offers more options to traders, security is a big issue. It's normal to trade in large and trusted Exchange even though any Exchange can be hacked, as against trading on relatively new platform. It could benefit on spread and on hacks, it will be a major loss. New exchanges may not have the funds to invest in massive security infrastructure to safeguard client's funds.

Depends on the exchanges that start out. I mean there are too many small time exchanges and they actually work and they list coins that other big exchanges won't list so they are actually doing something very nice, that is why I think its cool that we are seeing smaller exchanges working with those newer coins, maybe become their first exchange before they set out to get listed by bigger ones.

However, there are some smaller ones that actually doesn't work at all, I have seen exchanges that have coins closer to zero volume, they just hide it to not show you how horrible it is but I have seen the hidden side of some of those places and there are like over a hundred coins listed there with absolutely zero volume because they are not wanted and they just list it anyway, it gets riskier and riskier to do that.

What would then be the essence of having an exchange that one cannot use in the market, and they keep piling up the list and giving traders stress to have to do lots of research before choosing an exchange, but if we have few exchanges that are reliable, then there would not be much need to research for better ones. I remember that I had little challenge with my Binance password of recent which I could not resolved on time, I needed to buy a token urgently to trade within few ours, but was locked out of Binance exchange because I could not remember password.

I tried thinking of quickly switching to another exchange, but I had to start making lots of research to know which one was good and not, and which one gives a lower fee, but all I came across was people shilling their exchange to me till I lost interest and had to wait till I resolved my Binance password.

there are many things that you can not see, having many exchanges does not mean it will be good, on the contrary, it can be a great disaster.

Imagine if there are 20 exchanges like yobit and many people lose money on those 20 exchanges like yobit? what will happen? people are going to associate all exchanges as dangerous, people will get away from the crypto world. Thousands of shitcoins will be listed and are only destroying the crypto world.

What we need is:

- Responsible exchanges that offer good quality services

- Good quality projects

I believe more exchanges are a benefit as it brings about healthy competition into the exchange industry. Competition are said to be healthy if it encourages the improvement of security systems on exchanges. Competition usually leads to better customer support and user interfaces. A recent example of this is the addition of Binance coin on the  Kucoin exchange, and hopefully this is an indication of increased cooperation between exchanges instead of attacking each other. I'm sure that Kucoin's motivation was a desire to tap into the trading volume of BNB, but, by providing traders with more options to trade BNB, it should help the coin to gain acceptance.

Competition between exchanges should help to reduce deposit and withdrawal fees. I support an increase in the number of quality exchanges, so that the over-populated ones will not believe that they are in control of the success of new coins and tokens after they are listed on their exchanges.

Credit: Fit-to-talk project. (https://fittotalk.com/english-talk/index.php?topic=369.msg1357#msg1357) used to improve english/writing skills

Many exchanges that emerged is good thing. The competition in exchange site business will be harder which mean that every exchange will try to do their best to become the best exchange. They will compete to improve their quality, so this will give us more benefit. There must be certain standard regarding the feasability of exchange site.

Most of the new coins will not have a good price and investor support, because they do not bring new ideas and solutions to the cryptocurrency industry. A larger number of coins only confuses investors. Although if among the new projects appear worthy of attention coins, this is a good opportunity for investment and expansion of its investment portfolio.

You are right. That's why people need to more careful when they choose exchange to trade. everyday new crypto currencies are coming and that's why exchange are also increasing. if you want to avoid fraud then make sure exchange is good and trust able to trade. 

Probably, the advantage of having more exchanges is that we can select what exchange that fits to our necessity and desire in an exchange. Another thing is that, it helps to promote the cryptocurrency in every society in the world. In contrary with this statement, there are also points to be considered as disadvantages in having thousands of exchange. One of this is that the number of scam projects could multiply also.

There is no problem if more exchanges are coming out in the crypto market. As long as the security is always present, that only means the more exchanges to choose from. Competitions are also available and coins are being traded now in different exchanges we want. I just hope some exchanges are not scam and that they give the full satisfaction with less fess to their customers.

I think that is our chance to search for more profit from the other exchanges, but of course, we need to find the exchanges which have a good reputation among the others. Besides that, we can try to arbitrage trading for some coins, but to do that thing, we need to be careful because some of the coins cannot be delivered in a short time. We can get more options to trade by registering in that exchanges and send some balance to start trading and who knows, we can get additional income from the exchanges.

I have seen so many ICO based exchanged like LBX, XERA, BECENT IRONX, unfortunately, some of them cannot set up an exchange that can challenge the current top exchange in the market, some of these will soon lose their shares of the market because they are not doing anything to make them competitive.

The more the merrier they say. But I think the wallet projects like the EIDO or VenaPi projects are going to be more useful in this situation. Wallet projects where the coins and tokens stayed in your wallet while you can trade within the hybrid exchanges. These kinds of projects are like the decentralized exchange, it just need more volume and marketing to its projects though.

top exchange are older than them but we will never know what if some of those ico based exchange will slowly gain costumers and grow big in the future  .

ive seen so many unrated exchanges that are still alive and kicking despite the less demand that they are getting in the public  .  being competitive isnt the only way to stay in the game  .  not all coins are listed on top exchange but most ico coins and tokens can only be traded on smaller exchanges that arent popular  .

I think there are many exchanges, and only a few of them are successful, the rest are very few. Therefore, it is not necessary to have more exchanges, the best thing is to focus on security and quality

I don't understand the mindset of all those crypto exchange platform owners.They can't beat the giants,so why are they starting such risky business?They can't offer anything more in terms of new features or added value,they don't have the money to invest in improvements.
It looks like most of the small new exchanges are going to be nothing more than exit scams.

A large number of exchanges is not so bad. Everyone has different conditions for listing and some projects do not have much money to be listed on the big exchange. But the bad side is that among this variety of exchanges there are scammers who can steal your money. Therefore, always check the exchange before you transfer your coins to it.

the more exchanges there are, the more the development of the cryptocurency world continues to increase, as well as scammers continue to limp, we also have to be careful about fraud and scammers.

Yes, there are too many exchanges and most of them are useless because of less volume. Although it is good if more exchanges are there as people find more option to deposit and trade  but at the same time they should be good exchanges and not only made to collect the people bitcoins and money.

And so there is a general rule in economics and that says that if you have so many service providers out there in the market, the price drops and the quality rises due to competition among the companies for to attain maximum users. I think that it will bring down the cost of transaction by the exchanges as well. In addition, service provision would be impressive.

More crypto exchanges is really good thing too to get traders but not many after trading exchanges that enough liquidity for the trading to be done so you need to be careful on where your doing trading are you will get stuck for too long and also don't forget to read their fee structure.

in this type of situation only we need to be careful and other because lots of opportunity will miss guide you to decide the wrong decisions so that if anything was came to you you need to understand about the taste changes then only can make their exchanges properly.

It sounds so easy the way you put it down. It's not in reality. How do you seperate a shit project from a project that is legitimately trying to deliver a working product, while both the legit and shit project use the same marketing strategies (i.e. promising to change the world, be better than Bitcoin, Ethereum, etc)?

Another important thing to keep in mind is that even when a project is legitimate, has delivered somewhat of a working project, it might not end up doing well at all in terms of price action. Most projects that show 100-1000% gains are the ones that are shit. It will come down to selecting coins left and right and hope that your basket of altcoins will do well.

It really sucks that people don't care what they invest in, but this is the market we're participating in. It's you that needs to adapt and accept the climate here, the market already has.

It is just foolishness to come to a market to compete without fully preparing for the war, and this is why we keep seeing a lot of exchanges closing down on a daily basis because it is a senseless competition, most of the present investors and users that we have now already have one or two exchanges they have trusted and would hold on to forever till they probably do something wrong.

We don’t have much of new users or adopters that will look into some of these exchanges and the few ones that are entering the market are not enough to give value that will power the exchange, which they eventually join a more reliable and larger exchange before the new exchange could think of expanding. I don’t see any point creating an exchange for now.

It would be a benefit in the market as that will give good competition among exchanges.
When there's a limited exchange, it would be easily monopolize by big exchanges, therefore more exchanges is already a need in a growing industry like crypto.

Let's say that the crypto space is expanding unlike when we only have trust on few exchanges like BINANCE and BITTREX and so have you, now those exchangers we strongly put trust on have started to scam investors and with other kind of activities that's happening within. It's a privilege for new exchangers to come in so that we have lots of choices on which to save in our assets.

There is no denying that there is a risk effect if more and more exchanges keep coming up, but a few days ago, I came across a next-gen multi-cryptocurrency 24/7 live exchange, beaXchange. This platform utilizes offline cold storage, multi-location server backups, hacker DDOS protection, full data encryption, and is PC DSS compliant.

You can check it out, https://www.beaxchange.com/ (https://www.beaxchange.com/)! :)

I think at the stage we are right now, cryptocurrency exchanges are a little bit quite saturated and most of them even lack the vision along the line that makes them fail. The market cap of Forex is by far higher than that of cryptocurrency, and how many exchanges or Forex brokers do you hear of, but yet, they are still functioning perfectly well without any of them collapsing or over worked up.

I think some of the exchanges being develop for cryptocurrency is really not worth it for now, because we have too many exchanges that are still yet to get attention of users and traders for their platform, so why waste time on establishing one, or wasting time raising fund for an exchange project that may not make it or have need of in the current market. I think new exchanges should hold on for now till we get more projects.

That is for the ones that has the courage to really stand and fight amidst the strong competition and the monopoly of these strong exchanges, most of the newer exchanges that I have seen end up packing up before they could even get to see the light of the day, and moreover, I have not really seen the need for new exchanges, because the ones we have in ground still serve the purpose for now, and if not for the monopoly we claim that we are trying to break.

There is really no need for more exchanges, because when it comes to all facilities needed, I think these big exchanges has really covered it and it is because of their perfect service that attracted people to stick with them which majority if us has already interpreted that they are monopolizing the exchange industry.

It can be both ways. Like having more options means higher competition and it obviously means better reward for the user. But of course, it is also equally important to have reliable and trustworthy Crypto Brokers (https://cryptolinks.com/bitcoin-futures) to pick. If we are not going to go for the right option, it will not be helpful for us as it’s obviously con of having too many brokers, as often people join up wrong one. So it can be good if you use it properly or else not.