Too many exchanges?

[Fredomago]

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?

Having too many exchanges is not a problem, unless you’re the type that is jumping from one exchange to another.
If you do that you will end up jumping to the hands of scammers. There are good exchanges that are popular and has good reputation.

Maybe you should just be making use of the top exchanges instead of bothering yourself about how many exchanges there is. Top exchanges are less likely to disappoint.

Using reputable exchange if your coins is already listed from it is much better than taking the risk of using  not so known platform, reputations
will give you a much safer business as they gained it from previous and current users, there's no problem trying new ones but make sure to use
small amount first and familiarize yourself to maximize the opportunities.

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[reflector]

An excessive number of trading sites implies greater liquidity yet less volume since its partitioned on numerous exchangers like in binance, bitrex and etc.  I can see a few coins which has exceptionally huge volume however in other trade less another disservice of having many trade is its progressively inclined to hacking a few trades doesn't satisfy the security guideline which watch out for misfortune numerous coins in many brokers, No one is not against having a lot of trades today but rather the security must be tight in each stage.

[Goodvalony]

there are so many new projects around. people gets to choose which platform that is favorable to them and trade on it. the disadvantage is that it might be a scam exchange or it could be hacked if security is flawed. the benefits of having many exchanges is the projects should have varieties to choose from.

[Noa_Amable]

Many exchanges = more competition = better exchanges

I'd prefer many choices rather than just a small number of exchanges handling majority of the cryptocurrency market. I couldn't think of a downside as of now. But yeah, hopefully we get more decentralized exchanges in the future.

In general you are correct. The more competitors join the game - the more profit goes to a consumer by better conditions, new features and so on

[omonuyak]

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 that many exchange do contribute to the development of cryptocurrencies and also in publicity.  I also think that many exchange provide us with many opportunities to be able to trade our tokens and coins as it easy listing.

[trader34]

there are so many new projects around. people gets to choose which platform that is favorable to them and trade on it. the disadvantage is that it might be a scam exchange or it could be hacked if security is flawed. the benefits of having many exchanges is the projects should have varieties to choose from.

Yes, more exchanges mean a greater variety to chose from, but it also means a decreased liquidity and trading volume, since that particular coin can be traded in many exchanges and so everyone has less trading operations...

[normanderecho]

I rather than preferred in few exchanges as long as it has secure and comfortable to used, especially for those newbie to make them less confused by choosing in an exchanges. Particularly now which is not really good to trade regarding by the condition of the market which is still on the bearsih.

[Ave_Maximus]

too many exchanges and more exchangers, but quantity generates competition. the biggest part of them is a scam. you should be very careful choosing one.

[nydiacaskey01]

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?

New players in crypto exchange is good specially if they can offer new feature that us users will have benefit. More players, more competitors is good for use traders because we have a lot to chose from and this will keep them from improving their service since they know that there are other exchanges out there that we can use if their service is not enough to keep our business with them.

[apityeh71]

Yes when i visiting coinmarketcap, i see alot of new exchanges enter the crypto market. Offcource this will be make positive and negatif impact. The positive impact is this community keep bigger because more people will joining and use that exchange , and negatif impact is that exchange have issue of security because all of them is centralized exchange.

[Kelvinid]

Yes when i visiting coinmarketcap, i see alot of new exchanges enter the crypto market. Offcource this will be make positive and negatif impact. The positive impact is this community keep bigger because more people will joining and use that exchange , and negatif impact is that exchange have issue of security because all of them is centralized exchange.

It giving us a lot of options which is good but we can't deny also that some of them were greatly just a clown were nobody have tried to trade cause of their reputation and looks like just a scam. This is also one reason why many investors and traders were losing their accounts because of being hack.
It is better for us to look for exchanges that have already established good market volume and have a  legit team members.

[TopT3ns]

Yes when i visiting coinmarketcap, i see alot of new exchanges enter the crypto market. Offcource this will be make positive and negatif impact. The positive impact is this community keep bigger because more people will joining and use that exchange , and negatif impact is that exchange have issue of security because all of them is centralized exchange.

It giving us a lot of options which is good but we can't deny also that some of them were greatly just a clown were nobody have tried to trade cause of their reputation and looks like just a scam. This is also one reason why many investors and traders were losing their accounts because of being hack.
It is better for us to look for exchanges that have already established good market volume and have a  legit team members.

Glad i never face any problem from a website because regularly i only use  old market to trading. New market already good actually for now they make some progress but i only use them to sell my tokens.

[marketone]

Yes when i visiting coinmarketcap, i see alot of new exchanges enter the crypto market. Offcource this will be make positive and negatif impact. The positive impact is this community keep bigger because more people will joining and use that exchange , and negatif impact is that exchange have issue of security because all of them is centralized exchange.

It giving us a lot of options which is good but we can't deny also that some of them were greatly just a clown were nobody have tried to trade cause of their reputation and looks like just a scam. This is also one reason why many investors and traders were losing their accounts because of being hack.
It is better for us to look for exchanges that have already established good market volume and have a  legit team members.

Glad i never face any problem from a website because regularly i only use  old market to trading. New market already good actually for now they make some progress but i only use them to sell my tokens.

Old markets are always good for trading because we know how potential are they going to be because they have very good development in the background. Potential development from those teams will always help us to hold those coins in long term too.

[Polar91]

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?

Simply, more competition thus more innovation. We can see that in order to be better with your competitor, you'll need to add fatures that is unique and beneficial to the community. These competition is healthy for the industry of cryptocurrency.

[TopT3ns]

Yes when i visiting coinmarketcap, i see alot of new exchanges enter the crypto market. Offcource this will be make positive and negatif impact. The positive impact is this community keep bigger because more people will joining and use that exchange , and negatif impact is that exchange have issue of security because all of them is centralized exchange.

It giving us a lot of options which is good but we can't deny also that some of them were greatly just a clown were nobody have tried to trade cause of their reputation and looks like just a scam. This is also one reason why many investors and traders were losing their accounts because of being hack.
It is better for us to look for exchanges that have already established good market volume and have a  legit team members.

Glad i never face any problem from a website because regularly i only use  old market to trading. New market already good actually for now they make some progress but i only use them to sell my tokens.

Old markets are always good for trading because we know how potential are they going to be because they have very good development in the background. Potential development from those teams will always help us to hold those coins in long term too.

If me, i am type of people that not want to make a risk. That is why i preferred old way to trading. And even new exchanger is good and a lot of people trade tokens in there, they don't know risk behind it that can always come.

[Johnyz]

Many exchanges = more competition = better exchanges

I'd prefer many choices rather than just a small number of exchanges handling majority of the cryptocurrency market. I couldn't think of a downside as of now. But yeah, hopefully we get more decentralized exchanges in the future.

In general you are correct. The more competitors join the game - the more profit goes to a consumer by better conditions, new features and so on

We just need to be more careful on choosing exchanges, because not all competitors are willing to offer good services. I’ve heard about scam exchanges before and for sure they will not last in this market. I’d rather focus on the top exchanges for my own security.

[Zalaster]

I do not see this as a problem, on the contrary, competition leads to the fact that exchanges begin the struggle for users, from which we gain to win. I used many exchanges, the best of which I consider Binance (with registration) and ChangeNOW (without registration).

[Akoldi_ibk]

I want to believe that just a few exchange can not accommodate or list the whole thousands and yet to come coins/tokens. More exchanges, more listing varieties for projects.

[TelolettOm]

At present there are many exchanges and there are also very many who are indeed potentially scams. we really need to be able to choose which one is really suitable for us to choose as percussion for trading and also for large volumes.

[Thanasis]

If there is too much competition on something then the service or product we get though from it will be more better so actually it is good thing to have more crypto exchanges but not many of them trusted now so they are just numbers,usable exchange in daily terms are very less.