Too many exchanges?

[Freny250]

Too much proliferation of exchanges can lead to the development of many exchange of which scam can be among. There should be regulation to limit the number of scam exchange

[1714252724]

1714252724

[1714252724]

1714252724

[1714252724]

1714252724

[1714252724]

1714252724

[atjiat]

in my opinion for a healthy child there must be competition.  Each user should have the right to choose the best resource for their activities.  In addition, you need to pay attention to the fact that each trading platform has different trading pairs and different presence of coins.  In addition, there are cryptocurrency exchanges where trading is carried out differently, including options trading.

[Kasabus]

There should be regulation to limit the number of scam exchange

That's what we all like to see, this is a protection on our part and assurance that we will only trade in legit exchange.
Scam exchanges are all over the crypto space, if you look at https://coinmarketcap.com/rankings/exchanges/reported/, a lot of listed exchanges but only few are really trusted, don't know the exact no. but I'm pretty sure less than 50%.

[NewRanger]

There should be regulation to limit the number of scam exchange

That's what we all like to see, this is a protection on our part and assurance that we will only trade in legit exchange.
Scam exchanges are all over the crypto space, if you look at https://coinmarketcap.com/rankings/exchanges/reported/, a lot of listed exchanges but only few are really trusted, don't know the exact no. but I'm pretty sure less than 50%.

and i think local government regulation was needed in this case.before crypto exchanges launched they must have certificate or license from local government.so there is no possibilities from team to run away after they operate their sevices.

[BLAST2MARS]

It is beneficial because in the past years of crypto trading, exchanges were not fair and locking up/ freezing accounts with no explanation why it happened and users were so angry why it constantly happens. But now, new exchanges favors what the customers wants and even you got your account locked up, the exchange will still let you withdraw all your funds. It means more exchanges, more of them will follow what we want.

[Btc_1856]

There should be regulation to limit the number of scam exchange

That's what we all like to see, this is a protection on our part and assurance that we will only trade in legit exchange.
Scam exchanges are all over the crypto space, if you look at https://coinmarketcap.com/rankings/exchanges/reported/, a lot of listed exchanges but only few are really trusted, don't know the exact no. but I'm pretty sure less than 50%.

and i think local government regulation was needed in this case.before crypto exchanges launched they must have certificate or license from local government.so there is no possibilities from team to run away after they operate their sevices.

Yes. the community should also get matured because we need to check twice about the exchanges whether they are licensed in their local governments. In this way, so that team will not run with the people fund who are actively trading in that exchange. So we should be very careful with this type of exchanges.

[shinratensei_]

Too much proliferation of exchanges can lead to the development of many exchange of which scam can be among. There should be regulation to limit the number of scam exchange

Regulation always exist but the fact that not so many countries are putting their attention to the exchange site. I meant there is some exchange site which followed all of the regulations and the rest didn't even follow it.
As long as the exchange site was doing verification and that will fine but the problem when we meed another mtgox.

[cheezcarls]

In my own point of view regarding too many exchanges, there's a positive perspective for that.

For me, I think relying on just Binance, OKex, Kucoin, IDEX, MetaMorph Pro, LAToken isn't enough because not all exchanges could handle a lot of users and trading activity. It forces them to upgrade their servers, doing maintenance, etc.

At first, I was so negative about new exchanges emerging just trying to compete with the big players out there. But on a different perspective, it's just giving them the chance to prove that they can be better by introducing new out-of-the-box features that no other competitors have.

The only weakness that these new exchanges have is proper marketing. Some new exchanges have no budget in which they cannot convince traders to begin trading, but there are some who have funds for marketing and promotion that would make them stand out.

As long the new players have budget on marketing and developing their platform, they're good to go.

[Rooster101]

Too much proliferation of exchanges can lead to the development of many exchange of which scam can be among. There should be regulation to limit the number of scam exchange

I agreed with your view that regulation must be imposed to limit the number of exchanges particularly those that are engaged in scams and other illegal activities. Exchanges are mushrooming in crypto market and some of them are created to scam people who want to invest or trade. The imposing of regulation should aim to weed out the scam exchanges and regulate application for those who want to establish their own exchange.

[Aivaryamal]

The more exchangers, the better for the whole digital market, because everyone will try to offer the best tools that can be convenient for both beginners and professionals, the competition gives rise to the best!

[Ranly123]

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 would definitely benefit the users since this would create competitions among exchanges. Also new coins can enlist to the most convenient exchange with low fees or with high security features.

[etherixdevs]

Too may exchanges now are useless. Only accepting new coins with low fees can be interest.

[sadirmrida]

I think that there have some negative and some positive impact. Firstly i diccuss about positive : Crypto is a decentralize proggram. So it should not controled by some exchange. If there have less exchange  they demand more for list a coin and they also add more withdrew and trading fee.

If i say about negative impact , firstly i say they add  scam coin or token. They also cheet with user.

[AngellSky]

I completely agree with the fact that there are enough exchange platforms on the market and there will be even more of them, since the cryptocurrency market is still at the beginning of its development stage.  But we should not forget about the ratings, with the help of which users prefer them at their discretion.

[monalia]

This OP is not worth for the merits but I am not sure how he got the merits.
Kindly avoid such thread to stay away from the spam posts. Purely people are utilizing few threads and make their spam posts at here.
This thread might be one of that.

[roosbit]

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?

First we have to remember that we have centralized and decentralized exchanges, with centralized exchanges being fewer and run and guided by some regulator to prevent money laundering and other financial crimes. But do we need more, yes.....crypto is not yet fully adopted or at its optimum and if exchanges are to be limited now then they won't accommodate new ideas of a good exchange as competition will be limited.
I believe we need more for better services and new ideas to emerge, the only downside is some exchanges have kind of monopolized this business which can easily force things on us such as KYC.

[coin_1122]

The more exchanges, the better for the whole digital market, because everyone will try to offer the best tools that can be convenient for both beginners and professionals, the competition gives rise to the best!

More exchanges will be beneficial for us but at the same time, we have to find the security about those exchange because we are seeing many fake exchanges launching which they cannot able to generate the volumes. We have to be very selective in choosing the exchanges.

[CryptoPowerL]

Positive: listings are inexpensive, small projects can sometimes place their tokens on exchanges for free. Negative: a very weak level of protection, hackers can very easily steal our funds.
I try not to use dubious exchanges.

[awik p]

The more exchanges, the better for the whole digital market, because everyone will try to offer the best tools that can be convenient for both beginners and professionals, the competition gives rise to the best!

More exchanges will be beneficial for us but at the same time, we have to find the security about those exchange because we are seeing many fake exchanges launching which they cannot able to generate the volumes. We have to be very selective in choosing the exchanges.

right, with the many existing exchanges, it will certainly make a healthy relationship between the exchanges. by choosing the best and reliable exchange will certainly provide good service for us to avoid fraud

[Gridness]

Positive: listings are inexpensive, small projects can sometimes place their tokens on exchanges for free. Negative: a very weak level of protection, hackers can very easily steal our funds.
I try not to use dubious exchanges.

to avoid undesirable things such as from hacking after selling tokens, the profit must be directly at WD to a safe place. It just for new exchange