Too many exchanges?

[Furious 7]

It seems to me that each user has his own exchange, if a person is satisfied with everything, he will not look for a new exchange, and use it, but if the exchange shows a good result, then new users will come to him,

If they all have the coins he want to trade, and the exchange is reputable, and also liquid as an exchange.
But I don't see a trader that will only be loyal to one exchange, trading in different exchange will also reduce the risk, since exchanges are vulnerable to hacking.

it's a good reason and easy to understand, it's not easy to believe in the current exchange.
some exchanges have good volumes, and one time conduct trade arbitration. this is good for getting bigger profits, and that opportunity exists in many exchanges.

[1714256801]

1714256801

[1714256801]

1714256801

[hen cet]

First of all, I only stick to two three top exchanges and I won't keep big funds on any exchanges. The more exchanges popping up every now and then means there are more probability for exit scams. Exchanges are nothing without volume. Too many exchanges only diminishes the credibility of crypto. We have seen many issues in the past. I think exchanges would survive only with active investors.

In business, more and more crypto exchange companies provide competition that will benefit traders, because there will be differences in exchange rates where smart traders can make sales to exchanges that buy at a higher price.
However, the possibility that there is a rogue exchange company that does not meet the requirements can defame crypto exchanges that work with totality to increase crypto.

[emmybd]

There is no problem of having too many exchanges, if they are good, but most of them are not reliable. So, one has to be careful in choosing exchanges. Do your own research before deciding to create an account with an exchange.

[quality.crypto]

It seems to me that each user has his own exchange, if a person is satisfied with everything, he will not look for a new exchange, and use it, but if the exchange shows a good result, then new users will come to him,

If they all have the coins he want to trade, and the exchange is reputable, and also liquid as an exchange.
But I don't see a trader that will only be loyal to one exchange, trading in different exchange will also reduce the risk, since exchanges are vulnerable to hacking.

Smart traders don't hold coins on exchanges, and there are a few that deal with 1 or 2 exchange only. It's easy to add a coin to a listing and get the money, but if the exchange is not able to perform a wallet maintenance or whatever in a timely manner then they should reduce to accept new coins.

Yes, there are few people holding the coins in the exchanges due to recent hacks and thefts from the hackers. Most of the traders will get out from day to day operations because they find it hard to hold their coins in the third party. At the end of the day, they will transfer the coins to concerned wallets in order to be in safe hands.

[Aivaryamal]

Now it is necessary for any trader to use a lot of exchanges, as each of them has its own advantages and disadvantages, somewhere requires strict verification of identity, some do not have enough liquidity, but everything goes to the creation of almost perfect platforms

[kennen1113]

There is no problem of having too many exchanges, if they are good, but most of them are not reliable. So, one has to be careful in choosing exchanges. Do your own research before deciding to create an account with an exchange.

Indeed, many exchanges are a good thing when it shows that the crypto field is growing, in addition, the emergence of these new exchanges will become a source of motivation for the old exchanges to grow, if the old exchanges are not constantly developing, the replacement is going to happen. But as you say, very few new exchanges have enough power and trust, almost all of these exchanges are too careless, from the service department to customer support, does not bring satisfaction to users

[shesheboy]

many exchanges are a good thing when it shows that the crypto field is growing,

Number of online Exchanges are not the basis to know if the crypto field is growing or not  but the price are  or the market cap . if these are growing , that is a sign that the adoption is also growing or improving  .

in addition, the emergence of these new exchanges will become a source of motivation for the old exchanges to grow,

I think its the opposite  . old exchanges dont need motivation anymore because old exchanges are already succesful while new exchanges are the ones that need motivation from older exchanges because new exchange dont have an experience yet .

[bonker]

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?

Too many good exchange definitely will make the trading experience to next level,but all the exchanges were aftually good?

From my experience most of the exchanges were useless and people only for for particular exchange so many exchange actually doesn't affect anything in this market.

[bitbunnny]

At some point exchanges looked as a very profitable business and that is why they started to appear everywhere. So I might agree that there are many of them but there are certainly not too much legitimate and trustworthy exchanges with good customer care. It's not only about the quantity but quality and that should be the focus of users.

[Pamadar]

Now it is necessary for any trader to use a lot of exchanges, as each of them has its own advantages and disadvantages, somewhere requires strict verification of identity, some do not have enough liquidity, but everything goes to the creation of almost perfect platforms

Finding good place to trade your assets can be done in a different places, options is now making traders to have advantage unlike before where exchange is limited, now every place can be an option as they offer different ways to cater what traders wants and needs to accommodate and keep them around the exchange.

[Astvile]

Only benefit that i am saying when there are tons of exchanges are competetion,each exchange need to be better than one by improving their services so that costumers will use their service instead of the other one,its good because only top tier exchange will remain in business

[Bagaji]

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?

More exchange in the crypto currency community has both positive and negative impact. Positive impact could be that it will create strong competition among the exchange which could bring about effective service delivery and low fee. The negative impact could be inform scam exchange with the mission of duping investors money.

[QueenW]

Now there are really a lot of exchanges, but only a few are credible. besides, everyone is getting new exchanges that will be very difficult to compete with already existing ones.

[duyduc256]

There is no problem of having too many exchanges, if they are good, but most of them are not reliable. So, one has to be careful in choosing exchanges. Do your own research before deciding to create an account with an exchange.

If the exchange is good, the exchange will be supported by the community and we do not need to evaluate those exchanges because there are already people who pre-evaluate us. I think having too many exchanges is an advantage because when a new exchange appears, it will definitely have something special to attract investors and there will be a great competition for the position in the coinmarketcap but it should also be careful when deposit and need to verify identity quickly to avoid unnecessary risks. Anyway, considerations are yours and should choose safe new exchanges in this market

[BlackPanda]

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?

More exchange in the crypto currency community has both positive and negative impact. Positive impact could be that it will create strong competition among the exchange which could bring about effective service delivery and low fee. The negative impact could be inform scam exchange with the mission of duping investors money.

I really agree with you, there are two sides that can be generated by the increasing number of exchanges. In my opinion there must be a good standardization to be able to make a trust rating of various exchange services, when this can be applied then we will all very easily choose the best service. The fact that more exchange means means that the crypto market is increasingly attractive and makes many people want to use it.

[dang thi bich thuy]

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?

The more developed the crypto market is, the more investors will invest and trade. Along with that is the exchange pages are born more and more to meet the needs of all. The exchange pages are good for the community because we can compare good exchanges and avoid monopoly as well as high service fees.

[rachellee]

Many exchanges means many options for traders. We can choose from variety of exchanges which suit our convenience, for example the pace and smoothness of deposit and withdrawal transactions, the comparable trading and withdrawal fees, the user-friendly interface. But this is not actually healthy for the exchanges themselves 'coz many exchanges entail stiff competition. This is the main reason why new and small exchanges, though legit, hardly survive the market nowadays. Aside from that, there are also many scam exchanges nowadays, so better be wary also.

[Botnake]

Many exchanges means many options for traders. We can choose from variety of exchanges which suit our convenience, for example the pace and smoothness of deposit and withdrawal transactions, the comparable trading and withdrawal fees, the user-friendly interface. But this is not actually healthy for the exchanges themselves 'coz many exchanges entail stiff competition. This is the main reason why new and small exchanges, though legit, hardly survive the market nowadays. Aside from that, there are also many scam exchanges nowadays, so better be wary also.

It's clearly a sign of progress in the market, investors sees a potential to profit from traders.

But then again, most traders are trusting those that has real volume and liquid exchange and with the report I read that there are some
that are faking their volume, it would make investors to trust more on the top exchanges.


But anyway, there's still plenty of room to improve if the exchange will try their best to compete in the market.

[Pattart]

It seems to me that each user has his own exchange, if a person is satisfied with everything, he will not look for a new exchange, and use it, but if the exchange shows a good result, then new users will come to him,

If they all have the coins he want to trade, and the exchange is reputable, and also liquid as an exchange.
But I don't see a trader that will only be loyal to one exchange, trading in different exchange will also reduce the risk, since exchanges are vulnerable to hacking.

Thats true, some exchanges have limited choice of coins, not all coins are available in 1 exchange only. I myself use 4 exchanges for
trading, and that doesn't matter, it gives us a lot of choices to choose lots of coins for trade

[Ellen Adarna]

There are really a lot of exchanges nowadays, but most of them are cannot be trusted and they have fake volumes, that is why many crypto users are so picky in finding some exchange.