Too many exchanges?

[marcous]

Yes nowadays, various exchanges have sprung up to provide various options for traders. but the exchange function is increasingly more commercial considering the emergence of the IEO. I also have various exchanges but only to sell the results of the bounty.

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[BitBustah]

A lot of exchanges are faking volume and trading data to attract more customers.  Don't believe all those buy orders you see for a particular coin because they could be completely fake.

I prefer to do peer2peer trading when possible and cut out exchanges entirely when I can.

[culuuton]

When the crypto market developed quickly, I found that the exchange pages were born continuously. But not all exchange sites are good, only a few new exchange sites can demand of traders and investors. The founders of exchange sites charge a lot of money from trading activities so that more and more exchange sites are born.

[dvdrewritable]

There are so many exchanges in the meantime that many Exchanges are coming out in the middle and the newcomers are struggling to pick better exchanges. The newcomers in the crypto line are not able to understand that they will have their dollar secured on an exchange, and their dollars will be protected. Those who should have registered ones, and the rest should be closed because we can see almost Many exchanges leave their exchanges and thereby many of them in the wealthy market have a lot of impact on the crypto market. Many dollars are stolen from this problem, so the exchanges that are not real should stop the exchange.

[Iykecollinz]

Not a bad development though, I remembered in late 2017 during the crypto bull where certain exchanges like Binance and Bittrex where not accepting new users while some others where open there registration portals at random and all these happened because there were not enough exchanges. However one should be careful while trying to make choice of exchanges to use as a lot may have scam intentions where some do not have strong security to protect investors and traders assets

[Becky666]

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?

Personally, i never buy the idea of many exchanges in the world of cryptocurrency becasue the more these exchanges the more crimes will spread over this industry. Currently, the exchanges we have in this industry right now are okay, lets wait for the full adoption of cryptocurrency before more exchanges will be welcome. Too many exchanges aren't helping the industry right now.

[bigvito19]

Be on the look out for ours https://tradenexi.com/

[EXtremeAEX]

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?

A large number of exchanges has both positive and negative sides.
On one side, more exchanges are entering the market, which creates competition. Due to this, exchanges offer their users to use their services, because they have certain advantages. Some focus on the quality of services provided, others on reliability, third on low commissions, fourth on the lack of KYC during registration, etc. Therefore, each person chooses exactly what he believes is important.
On the other hand, with such a large number of exchanges, the likelihood of unscrupulous exchanges that just want to earn as much money as possible from their customers increases.

[gabbie2010]

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.

The numbers of exchange do not matter to me and what is important is how good there are.  The issues of fakes volumes is there and I think that means some of the exchange are just there for the purpose of manipulations.  We just need to get more of them because competition bring professionalism.

Quality over quantity, but honestly, we can never stopped the increase of number of exchanges in crypto.
As the number of investors increases, that calls for an increase of exchanges also, capitalist seems potential in the market, so they will try to operate.

I also subscribed to a quality exchange over quantity  with the issue of the numbers of rates in which hackers hacking unsecured exchanges is very alarming I believed  investors should be more consigned with investing  or trading with a well secured exchange recalled  the issue of cryptopia exchange that was hacked recently thus losing a huge amount of investors crypts assets is an indication  to their firewall not well secured.

[playboy654]

Yes choosing the right exchanges will be difficult in this situation because the confusions will happening for everyone to select it will be best for the best fees to make the exchange in this case we need to be more clear about what we are doing otherwise the fake exchanges easily be fraud you.

[Distinctin]

Yes choosing the right exchanges will be difficult in this situation because the confusions will happening for everyone to select it will be best for the best fees to make the exchange in this case we need to be more clear about what we are doing otherwise the fake exchanges easily be fraud you.

How is it difficult, I think it's easier to choose good exchanges than choosing good coins.
We have the list here https://coinmarketcap.com/rankings/exchanges/, choose an exchange that has a great trading volume, it's easy.

[Adam Derek]

Hello guys! I'm a newbie trader and I'd like an advice on how to chose the right exchange. So far I've used Binance, GDAX, Bitfinex, Kucoin and I'm also looking at new ones like MPCX etc. Any idea???

I just read that MPCX will launch an IEO on probit. Any news about the dates??

[Odessit_ya]

Someone uses several exchanges, and someone needs all 10-20 exchanges.
My opinion is - a lot of exchanges are healthy competition, improving the quality of security and anonymity.

[etherixdevs]

The reality is that most of 70% of volume on exchanges is made from robot and market maker software... This means that the volume is "fake". Just an idea. Please check most of the transactions on exchanges. Look how many decimals have single transactions... How many of us would write 5-6-or even 8 decimals to buy Btc or Eth? ... It means are robot transactions and until this, nothing of so bad... but if robots are doing transactions only to create volume, we have a real problem of creating fake prices...

[Yamifoud]

Someone uses several exchanges, and someone needs all 10-20 exchanges.
My opinion is - a lot of exchanges are healthy competition, improving the quality of security and anonymity.

For the increasing numbers of exchanges, they will should be providing good services to their clients/investors to make them stay all the time otherwise they will left and find new one. That is exactly a competition and for those exchanges that have already establish good market history will taking advantage against the other and most probably investors will never have a way to transfer.

[smyslov]

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?

It's a battle of the fittest and who can attract more investors and traders, and it's also a battle of features, add-ons, and bonuses developers already know that exchange is the most profitable venture in the cryptocurrency, just take a look at Binance and Kucoin they are making millions of dollars.

[Distinctin]

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?

It's a battle of the fittest and who can attract more investors and traders, and it's also a battle of features, add-ons, and bonuses developers already know that exchange is the most profitable venture in the cryptocurrency, just take a look at Binance and Kucoin they are making millions of dollars.

Binance is winning the battle, Kucoin's volume is way too low compared to Binance .
 
https://coinmarketcap.com/exchanges/kucoin/ - $20 million plus
https://coinmarketcap.com/exchanges/binance/ - $700 million plus.

Before they were in competition but Kucoin was left behind as Binance skyrocket in growth.
We can also tell that on their tokens value.

Anyway, more exchanges are better as it gives better service and experience to users.

[Ana_crypto]

Having accounts in too many exchanges is not a good practice because of security issues. Creating an account in multiple exchanges is tedious and remembering all the passwords is also difficult.

Storing the cryptos in the exchanges is also not safe due to hack issues. It is better to choose the best exchange for trading instead of trading on different exchanges.

I trade on an exchange that is an aggregator exchange(Coinswitch) of many exchanges. Here we need not have to create an account and we can trade at the best rate by comparing the prices at different exchanges and trade at one place.

[Sanitough]

Having accounts in too many exchanges is not a good practice because of security issues.

I thought this would help the risk of minimizing the risk since trading sites are vulnerable to hacking.

Creating an account in multiple exchanges is tedious and remembering all the passwords is also difficult.

If you are going to secure thousands of dollars with having different exchanges, I think doing this task is necessary.
You don't need to memorize all the passwords, just keep it and access it anytime you need to.
We are in the modern era now, we can use our computers to store our passwords and have some back up on it.

[Kiweikoo]

Yes nowadays, various exchanges have sprung up to provide various options for traders. but the exchange function is increasingly more commercial considering the emergence of the IEO. I also have various exchanges but only to sell the results of the bounty.

What are we going to make with too many exchanges; just nothing special with all of them but one can help you out up to great extent if you want. If you do not want, then there is nothing special for you even with a single exchange. It all depends according to your level of understanding and how much you are good at market research. IEOs are new projects that solved the drawbacks of ICOs because the exchange (Binance, Bitfinex etc.) is acting as counterparty.