Too many exchanges?

[AdamRay]

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 really like this. Because trading platforms will reduce transaction fees and try to create the best quality trading platform. The most profitable ones are the investors like us. I like the struggle to win power.

[1714311989]

1714311989

[waitforme]

The new exchange platforms that appear every day make much fear that this will severely affect Crypto. But do not worry, you can create new exchange platforms, but if you do not have users, then it will die out over time.

[iamlds08]

i dont see negative on so many exchanges as long as the market volume is up and there are active traders why not? it will give us an option to chose exhanges and for exchanges not to take high rate fees.

[fasdorcas]

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.

Well, it depends. When Binance came into play with their transaction fees that really drove a lot of users away from bittrex pretty fast, I thought at least, bittrex will come out with their own incentives for traders that will make things a lot easier.

Still it seems they are so much in their comfort zone, which I still believe no matter what, they would still have considered it several times, but as we keep seeing more coming up with good fees, reputation, security, legitimacy, the likelihood of seeing old exchanges losing users and then trying to brace up to stay on top of their game will most definitely be there, which is why I believe that in anyway, competition is always going to be a good thing for us as the users.

[breathlessz]

i dont see negative on so many exchanges as long as the market volume is up and there are active traders why not? it will give us an option to chose exhanges and for exchanges not to take high rate fees.

right, with so many exchanges, meaning that you have grouped coins or good tokens. A good coin will certainly list in a good exchange. and vice versa. but the better the exchange, the better the volume

[criptan77]

It became too easy to open exchange, and there is lack of safety for new users on most of them.  You can expect that they could disappear the same fast as they opened with all user's founds. Scam-exchanges bring just bad reputation to all crypto as mostly newbie traders use them and lose their money there
I think should be some kind of regulation in exchange field like in ICO.

[pragna]

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 it is too many problematic for everybody. Maximum times it does problems for bounty hunters and traders. If anybody have 50 different tokens and that are in 50 different exchanger, its very panic to open account and keep password. But matter of reality that we have nothing to do to stop this exchanger opening. Thats rally panic for all.

[ice18]

Too many exchanges means more liquidity but less volume because its divided on many exchangers like in binance I can see some coins which has very large volume but in other exchange very less another disadvantage of having many exchange is its more prone to hacking some exchanges doesn't meet the security standard which tend to loss many coins in most traders, Im not against having very many exchanges today but the security must be very tight in every platform.   

[Quidat]

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 it's not just for the beneficial to the community but what i have been thinking is that we all need a known exchanges in our country. So, i think they just make this exchanges to join the competition of the other exchanges on their country. Though it is different today than in previous years whereas exchanges are totally anonymous to most of us but now it seems that it is a national order to ask a KYC if they want to make an exchanges in their city.

[boty]

when there are so many exchange places like this you should be able to take advantage of the moment of cryptocurrency price differences and movements because cryptocurrency prices usually differ in price and volume.

[paynercash]

Too many exchanges will be one of the opportunities for competitive exchanges, whereby the middle trader will be more profitable, competing and always offering low cost. There are newer gadgets available on the exchange

[Question123]

They have benefits and also negative. Benefits is easy to investor to buy they want altcoins and bitcoin. It can easily to purchase bitcoin if you are country are supporting it. But if the exchanges site are scam that is not good or negative of having more exchanges site.

[Sri rahayu]

Although there are many exchangers, I only trade on exchangers that I entrust, because the new exchanger is not necessarily guaranteed the security of my assets and data, the more exchangers, the easier it is to choose which exchangers i think are good and never have problems.

[Bunsomjelican]

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?

Yeah right, there are also many shit exchanges too. So still be careful in choosing on which platform you are going to use it, for me I would rather to have a few exchanges than many. At least even there are few of them You or We are sure that platform is safe and trusted. Unlike we have a lot of exchange but most of them are not good to use in instead some are just trying to steal coins from the traders. Meaning, too many exchange will only gives confusion to the community, the only advantage is when the platform exchange are well established and has a good track record in the market and has a high volume too.

[bryant.coleman]

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?

There are a number of new exchanges coming up. I don't have a problem with them as long as they are run by trusted and reputed people. Because in the past many of the exchange hacks later turned out to be insider jobs.

[forex]

I think that there are a lot of exchanges now. But competition is always good. With exchanges now the same situation as with bookmakers offices.

[Adhar]

Currently we see that lots of exchange are launched but every exchange are not good. Most of the new exchange are not trading too much & i think this kind of issue can't effect in bitcoin price.             

[GangNamSK]

Right now, exchanges are coming up a lot, they compete with each other pretty much, but I also expect that many exchanges will come out so that we can get more benefits from them, , or have more benefits when trading

[pant-79]

Of course it makes a difference. On the one hand, the increase in the number of exchanges brings some negative impact. Some of these exchanges can be a scam, many of them probably have security problems, newbies who want to start trading are often confused by this number of exchanges.
But on the other hand, it can also have a positive effect. Having a large number of good exchanges will force each of them to work better and be better, to think about how to attract more users to themselves (thus improving the work for users on the exchange).

[sarmrakib]

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 it is not so beneficial to have more exchanges. We need some good platform to trade.  There are lots of exchanges now here and there they have own characteristics. On the other hand the people of cryptocurency are increasing so we need some exchanges with good quality and low fee. Obviously the platform need to use friendly and well safe. At last I just wanna say we need some great platform where we can trade easily and make safe our asset.