Cryptocurrency exchange got bigger

[Wabaman]

I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?

[wandino]

Such kind of news gives positive vibes.
As cryptocurrencies is being acknowledged better now than ever before.

[semobo]

I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?

I think the number of exchange are far more than 500 now but the reputed exchanges are very few with high trading volumes but having more and more exchanhes doesn't affet the prices it can help more people to come towards bitcoin and other crypto currencies because people will have trust on crypto and they will think that they can easyly convert their coins at any time into fiat.

[Thian778]

Many token and project are submitting their entry to be listed on exchange after their ICO, so exchange need to expand to cater this things and many people are coming and registering to avail their service, no wonder some exchange are getting bigger everyday, they need a lot bigger space also to accumulate incoming and outgoing money transaction and coins deposit and withdrawal.

[sparg]

I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?

The fact that the number of exchanges had increased means nothing related to mass adoption. It means that having an exchange is a business that works.
If there are a million exchanges but with a low transaction volume means that they are nearly amateurs that could even lose your money.
I see even in my country countless exchanges that are popping up every month, but they don't invest in a friendly interface, security or marketing. I think that they are easy targets for hackers.

[BagzMM]

I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?

Yeah exchanges is the most profitable business in cryptocurrecy. To think about how much money needed to be listed on the best exchanges plus the transaction fee in every successful trading. No doubt we can have many exchanges available soon as I seen many new ICO's on exchanges platform. This is a good for the crypto enthusiast or investors as we can choose from many of them. A good competition for a fair and transparent exchanges.  

[Granxis]

I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?

I think the number of exchange are far more than 500 now but the reputed exchanges are very few with high trading volumes but having more and more exchanhes doesn't affet the prices it can help more people to come towards bitcoin and other crypto currencies because people will have trust on crypto and they will think that they can easyly convert their coins at any time into fiat.

The fact that the number of stock exchanges is excessive is not a negative situation, but there may be bad stock exchanges among stock exchanges. If a stock market fraud, the entire crypto money market is affected negatively.

[EthanB]

It doesn't necessarily mean that cryptocurrencies are being acknowledged in any major way. It does mean that there is money in creating a new exchange, otherwise these people wouldn't remain in business. All this means in my eyes, is that there are people extremely interested in profiting off creating a centralized exchange that is contrary to what Bitcoin was founded for. A more realistic representation of Bitcoin's "acknowledgement" would be increases in the Market Cap, or how much money in being invested into Bitcoin or mining. Even use-cases and large-scale implementations are significant. I would say all of these companies attempting to implement their own form of blockchain is very telling that they are taking cues from Bitcoin.

[FlightyPouch]

Such kind of news gives positive vibes.
As cryptocurrencies is being acknowledged better now than ever before.

It is a good news but we also need to realize that the more it is being acknowledged, the more people will make a way to fool other people. Not all of these Cryptocurrency exchange are legitimate since there are only a few Cryptocurrency exchanges that are trusted. I am not saying that it is bad but I am saying as an investor and a trader that we need to be really careful.

[EdenHazard]

I cannot decide that at this time cryptocurrency is well recognized or not recognized. But this is the number of new users who jump down to cryptocurrency, and the exchange is a big business to set up. In the business world, they will always make the chance to get many benefits. Newcomers just want the euphoria for the instant benefit of the world of cryptocurrency, they just heard in some social media on how to earn promising money without deep knowledge.

That is true, the price of cryptocurrency will increase as more new users come up. But there will always be a negative impact if they only know cryptocurrency simply without doing a lesson they will leave if they lose. All we know, cryptocurrency is always synonymous with a loss I mean the risk level of loss is very high. But I hope they will come to cryptocurrency with the intention to learn first and then spend the money to invest.

[kryptqnick]

I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?

As far as I understand, you mean that the number or exchanges is getting bigger. I think that is means that more people are considering trading as a business opportunity, but it doesn't mean that cryptocurrencies are becoming more popular, since this would be reflected in marketcap and trading volume. Moreover, this tendency of adopting exchanges if not very good for cryptocurrencies, because it is an obstacle on the way of becoming means of payment, not assets.

[EthanB]

there are only a few Cryptocurrency exchanges that are trusted.

I wouldn't even agree with that statement. The largest, most "trusted" exchanges are very often the exchanges that experience a large hack that they cannot recover from, resulting in the loss of all of your coins held there, or they simply disappear without explanation with the same result. There is no "trusted" exchange in my book and I would be extremely careful if you ever are forced to use one. I would suggest that there are always ways around using one of these exchanges. I just wanted to give fair warning, because there's many prominent users around these forums that would advocate heavily against any usage or interaction with exchanges. I've heard too many tales about exchange drama resulting in millions of dollars being stolen one way or another and so the increase in sheer quantity of exchanges doesn't make me particularly excited. I'd be more interested if the increase in exchanges correlated with something positive for Bitcoin.

I think that is means that more people are considering trading as a business opportunity, but it doesn't mean that cryptocurrencies are becoming more popular, since this would be reflected in marketcap and trading volume. Moreover, this tendency of adopting exchanges if not very good for cryptocurrencies, because it is an obstacle on the way of becoming means of payment, not assets.

That's basically exactly what I had said a bit earlier. It's strange that it seems like so many of the more recent adopters of Bitcoin are so readily excited to jump in on exchanges and exclusively hold their coin there. I have asked friends of mine, that got involved in Bitcoin closer to the ATH, which wallet they had chosen to use and they said to me, "Coinbase" or "Blockchain.info" and it makes my head hurt. What originally attracted me to Bitcoin was everything that the Whitepaper was talking about and the fundamental freedoms that it was offering to all of us. It seems too many people are attempting to seize the day for trading opportunities, and easy mining profits. These people have already mostly been scared away by simple volatility, but I can assure you that exchanges are going to scare away the rest of them.

[fiulpro]

An increase in the cryptocurrency exchange doesn't necessarily mean that it's getting bigger the thing is more and more people are now trying to compete against the best exchanges that's being used by everyone around the world in fact the market is growing but we cannot judge it by the growing number of exchanges since it's just people trying to get into this business because the major exchange sites are earning huge amount of profit and that's something that they all want to look up to.

Also the fact that major exchanges are facing problem and all the new ones in the market are something that most people won't trust and use so the amount of traffic it generates is not that high.

Sometimes it can also be detrimental instead of being a positive think because many of them are fraud and the newbies who don't know anything about that are often the prey to them causing a decrease in the trust overall.

[Kemarit]

I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?

I don't know how many exchanges we have right now, but yes, its growing by the numbers. The only reason is that as crypto is gaining grounds, there's a lot of money to make so obviously there are lot starting crypto currency trading platform. Even here in our country, there was news that additional 6 or 7 local exchanges are joining the picture and just waiting for the government approval. As for the price, I do think that it can affect the price because there will be more players to come in resulting in the price going up/down if more people are going to trade frequently.

[zander09]

I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?

Yes the CryptoCurrency exchange are increasing but doesn't necessarily mean that it's getting bigger. The more exchange site are not affect the price of CryptoCurrencies, it depends in supply and demand.

[Gsmith1117]

It might help in the mass adaptation. The more exchane -> more marketing with different target users -> the more people reached -> the higher demand -> the better for us.

[w5pn73]

I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?

It's only a good thing that ultimately contributes to getting cryptocurrencies and bitcoin in particular more established.

[EthanB]

An increase in the cryptocurrency exchange doesn't necessarily mean that it's getting bigger the thing is more and more people are now trying to compete against the best exchanges

I've got half a mind to suggest that if these exchanges that were popping up were at least decentralized, then we would have more to cheer about. I wouldn't have so much fear if there were a boom in the amount of decentralized exchanges that were being established. This would suggest more to me that cryptocurrency is being acknowledged on a wider scale, because decentralization regularly means open-source. Open-source leads to further community collaboration and then things take off like wild fire in (usually) the best possible direction. This is what we see with Bitcoin for the most part, there are some hiccups in development, but for the most part we are on the right path.

I only see newer adopters getting excited about a new exchange. To me it is especially suspicious when an exchange creates their own currency *cough*, but for some reason the newer generation of crypto users are not keen to this.

I think even the old-heads could get excited about a decentralized exchange, although they've probably got themselves in a position that is sustainable already.

[KourtneyK]

I think it could greatly affect the prices of these cryptocurrencies because people would know which coin is widely used or is best in supply and demand in the market, thus differentiating what coins are best in the market currently. And I think it would be a good thing to have lots of exchange sites to choose from because not all exchange sites cater all coins and tokens.

[ToyotaFortuner]

yes you are right now there are too many exchange places created but from the many it is a very tight competition and provide security and comfort when bitcoin trading and have a small trading fee is the main priority of this competition, I think binance is the best market for when this.