Too many exchanges?

[minairia3]

We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?

Pro- competition, less fees and improvement areas can be sustained, opportunities for arbitrage, liquidity choices and I can't think of others
Cons- Confusing for beginners and new to crypto

 Overall it's good for the economy as it will have more areas for opportunities and improvements as well as fees wise

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[letecia012]

We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?

this can benefit trader by paying lesser transaction fee since new trading exchange usually offer less transaction fee to attract traders but the risk that traders may face is if this exchanges are secure and safe to use. I may suggest to trade only to most reputable crypto exchanges for you investment security.

[cluit]

With alot of competition between exchange, so they will offer something different by offer more benefits to attrack trader. Which exchange that offer better product they will be number 1, and others exchange that not creatif to offer something different and more quality product, they will decrease in trading volume and number of trader. So more exchange in the market is good for trader and crypto community.

Usually one of the reasons why I do not have problem with more exchanges popping up. We have seen so many exchanges coming up with great ideas, and then trying to bring something fresh to the space.

It is only when there is no competition that people will always just have to deal with any bullshit rubbed on them, but in this way, when there are lots of exchanges trying to do right and making sure they also get some attention, no exchange will want to end up flopping in most cases. For instance, we know when Binance came with a very low fee, that really challenged a lot of exchanges both new and old, and that is what I believe we should be seeing more of.

[Locala844]

Yeah, there are truly a lot, because everybody are hyping around it and people who are more professionals in crypto see how profitable is it to create a trading platform. I mean it's good that there are existing, but maybe it should more under control, so it would be more easy for us to differentiate which are one are worth to use and which is scam. Maybe some advice?

[Digitalizm]

Yeah, there are truly a lot, because everybody are hyping around it and people who are more professionals in crypto see how profitable is it to create a trading platform. I mean it's good that there are existing, but maybe it should more under control, so it would be more easy for us to differentiate which are one are worth to use and which is scam. Maybe some advice?

 I see it kinda different - there are exchange platforms and there are trading platforms, some are comprehended, soma are just for one crypto type, but I haven't found any that has all features in one. I personally would like to attract funds to trade, because I do not have enough funds on my own, also because there is no such possibility on those platforms where I trade. We need a trading platform with many options. I know some like cryptocompare or localetherium where I trade now.

[Viktorija Levi]

With alot of competition between exchange, so they will offer something different by offer more benefits to attrack trader. Which exchange that offer better product they will be number 1, and others exchange that not creatif to offer something different and more quality product, they will decrease in trading volume and number of trader. So more exchange in the market is good for trader and crypto community.

Usually one of the reasons why I do not have problem with more exchanges popping up. We have seen so many exchanges coming up with great ideas, and then trying to bring something fresh to the space.

It is only when there is no competition that people will always just have to deal with any bullshit rubbed on them, but in this way, when there are lots of exchanges trying to do right and making sure they also get some attention, no exchange will want to end up flopping in most cases. For instance, we know when Binance came with a very low fee, that really challenged a lot of exchanges both new and old, and that is what I believe we should be seeing more of.

I agree with your opinion, so far as it comes to exchange platform Binance is the best. It has almost coins needed. And lets see for new projects to be appeared on the market.

[Helena Ruben]

With alot of competition between exchange, so they will offer something different by offer more benefits to attrack trader. Which exchange that offer better product they will be number 1, and others exchange that not creatif to offer something different and more quality product, they will decrease in trading volume and number of trader. So more exchange in the market is good for trader and crypto community.

Usually one of the reasons why I do not have problem with more exchanges popping up. We have seen so many exchanges coming up with great ideas, and then trying to bring something fresh to the space.

It is only when there is no competition that people will always just have to deal with any bullshit rubbed on them, but in this way, when there are lots of exchanges trying to do right and making sure they also get some attention, no exchange will want to end up flopping in most cases. For instance, we know when Binance came with a very low fee, that really challenged a lot of exchanges both new and old, and that is what I believe we should be seeing more of.

I agree with your opinion, so far as it comes to exchange platform Binance is the best. It has almost coins needed. And lets see for new projects to be appeared on the market.

I have recently popped on one, I become interested about, since Im looking to start trading with a low fees and start investments.
SociumTrade platform - not much information yet out, i was surprised after checking their Roadmap, they have been working on product like a couple of years and yet its just about to be released. One thing I like about it, that if the project going to work well, they have an investment pools and consortsiums, where you can join in with investments and trade with others, i haven't come across that option before in any exchange. As for other options, mainly same as in exchanges, just more advanced. And If you know one, give a hint and Ill check. As thats what Im looking for.

[arpon11]

We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?

We are going to have more exchanges coming up in some days to come and that means we should not complain of the few we have now.  Cryptocurrencies market is still new and time will come that every city and villages are going to have exchanges . We are at the developmental stage and the only way,  we can expand on cryptocurrencies development is to open more Cryptocoins related business and projects with legit mind as many as possible.

[Hidden_Tycoon]

We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?

We are going to have more exchanges coming up in some days to come and that means we should not complain of the few we have now.  Cryptocurrencies market is still new and time will come that every city and villages are going to have exchanges . We are at the developmental stage and the only way,  we can expand on cryptocurrencies development is to open more Cryptocoins related business and projects with legit mind as many as possible.

Another thing is that I would add more security into some of them.
But the more we have the better.

[Cyber_punkes]

With alot of competition between exchange, so they will offer something different by offer more benefits to attrack trader. Which exchange that offer better product they will be number 1, and others exchange that not creatif to offer something different and more quality product, they will decrease in trading volume and number of trader. So more exchange in the market is good for trader and crypto community.

Usually one of the reasons why I do not have problem with more exchanges popping up. We have seen so many exchanges coming up with great ideas, and then trying to bring something fresh to the space.

It is only when there is no competition that people will always just have to deal with any bullshit rubbed on them, but in this way, when there are lots of exchanges trying to do right and making sure they also get some attention, no exchange will want to end up flopping in most cases. For instance, we know when Binance came with a very low fee, that really challenged a lot of exchanges both new and old, and that is what I believe we should be seeing more of.

I agree with your opinion, so far as it comes to exchange platform Binance is the best. It has almost coins needed. And lets see for new projects to be appeared on the market.

I have recently popped on one, I become interested about, since Im looking to start trading with a low fees and start investments.
SociumTrade platform - not much information yet out, i was surprised after checking their Roadmap, they have been working on product like a couple of years and yet its just about to be released. One thing I like about it, that if the project going to work well, they have an investment pools and consortsiums, where you can join in with investments and trade with others, i haven't come across that option before in any exchange. As for other options, mainly same as in exchanges, just more advanced. And If you know one, give a hint and Ill check. As thats what Im looking for.

They have a lending funds option too, like an online pawnshop ...still need more details on how it will work and what you will need to take a loan.

[jony35490]

Now as the number of new cryptocurrency increases, the number of new crypto exchange is also increasing. Many of them are shown fake trade volume in exchange and due to which many are victims of scam. So we have to be aware of this.

[aencarnaci]

We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?

I believe so! The crypto world has waay too many exchanges but the trouble is not the number but the gold diggers.
People have seen that places like binance makes way too much money and a lot of people started out their own exchange websites with minimum effort and than we end up with bunch of websites with almost no good GUI and no proper tech behind it and definitely with incredibly low volume and just sits there basically just existing for couple people and than call themselves a crypto exchange.

I understand the top 10 exchanges by volume and I can definitely understand the local exchanges where you can basically get your fiat currency in your bank account when you want to cash out (not everyone lives in USA so no coinbase is not an option) but all others are definitely useless and just clouds the already good ones at the top.

If they looked like they want to take over the crypto world and become the number one exchange I would understand but most of them don't even have proper effort put into them neither.

[ajaymukund]

We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?

that's normal. Competition is always going on and people who want to make more money are at risk. The bad trading floors will surely have to collapse, the strong ones will survive. There are many trading floors are created quite interesting. It gives investors more options and transaction fees will drop sharply because of competition. It is totally beneficial to us.

[visionE2]

there are so much exchange is really positive to cryptocurrency world because the increasing number of exchange can affect the volume of crypto

[NantiNine]

I have recently popped on one, I become interested about, since Im looking to start trading with a low fees and start investments.
SociumTrade platform - not much information yet out, i was surprised after checking their Roadmap, they have been working on product like a couple of years and yet its just about to be released. One thing I like about it, that if the project going to work well, they have an investment pools and consortsiums, where you can join in with investments and trade with others, i haven't come across that option before in any exchange. As for other options, mainly same as in exchanges, just more advanced. And If you know one, give a hint and Ill check. As thats what Im looking for.
[/quote]

So they are not exactly exchange, am I getting it right?

[gilangIDR]

We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?

I think that the more Exchange then it would be better to create a healthy competition. Because then every exchange will continue to try to show the best service, each exchange will try to attract many members with various features that are better than other exchanges. This will be a positive thing because then we can choose the best one including the number of exchanges currently available.

[Rahar02]

~
This will be a positive thing because then we can choose the best one including the number of exchanges currently available.

Indeed, more exchanges emerge indicate positive development and adoption of cryptocurrencies across the world and give us more option to trade on other exchanges abroad which may have significantly different prices regarding deposits, withdrawals, and other transaction fees.
Moreover, cryptocurrencies rates vary from one exchange platform to another, the prices can fluctuate even up to 10% at a time, especially on exchanges in Asia region.
Nevertheless, it's not easy to register on the exchange overseas which require id for kyc policy.

[enhu]

~
This will be a positive thing because then we can choose the best one including the number of exchanges currently available.

Indeed, more exchanges emerge indicate positive development and adoption of cryptocurrencies across the world and give us more option to trade on other exchanges abroad which may have significantly different prices regarding deposits, withdrawals, and other transaction fees.
Moreover, cryptocurrencies rates vary from one exchange platform to another, the prices can fluctuate even up to 10% at a time, especially on exchanges in Asia region.
Nevertheless, it's not easy to register on the exchange overseas which require id for kyc policy.

It also means the exchange business is booming that developers want to grab a share of it since in the later days, its these exchange tokens that will dominate int he market due to its use case in their own ecosystem.  Binance really has started this trend, from there on, we found ourselves investing to BNB token.

[hero1111]

I think too many exchanges mean is not important and the important thing is the number of quality reliable exchanges. If the crypto market has quality, reliable, systematic exchanges it will be useful for all crypto market and people will be in save with them, if there are insecure exchanges it will be not good for all crypto market.

[sulendra12]

I think too many exchanges mean is not important and the important thing is the number of quality reliable exchanges. If the crypto market has quality, reliable, systematic exchanges it will be useful for all crypto market and people will be in save with them, if there are insecure exchanges it will be not good for all crypto market.

Yes, we don't need to start bitching about too much shit exchanges in the internet. As long as you are using reliable exchanges, you don't even need to give a shit about those shit exchanges(unless coins that you are holding right now belongs to those shit exchanges).