Too many exchanges?

[sarabanda]

More exchanges now are a scam and use trading bots for volume,I was prefer old exchanges like bittrex

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[Freddy11]

This is quite obvious because of the growing popularity of Crypto world, there is obvious increase in Crypto Exchanges, so that’s something that’s very much understood part and is not exactly a bad thing. But the bad thing is if we are not selecting it properly. And I don’t think this is even a problem at all. Why anyone in this world will wish to go for something new instead just pick established options, as I don’t see any logic of trying to be cute.

[ScamViruS]

New exchange is coming, good thing. It is difficult to say what all the exchanges are coming to for good purpose?
Some new exchanges have already shown their quality. Because of the popular exchanges in the market, it is difficult to get volumes for new exchange.
That’s why they use different way to get on the CMC top list. Before using the new exchange, you need to verify about them for safety.

[AicecreaME]

It is good to have too many exchanges, my friend. the more exchanges we have the more the decentralized the market is going to be. We need as many exchanges as possible both centralized and decentralized. the more we have the better in terms of the user's choice, freedom, and security.   

Yeah I agree, the more Exchange then competition between the Exchange will be more stringent, and this is good for the development of the Crypto world. We know that every day there are many Cryptos that are born, so we also need lots of Exchange to accommodate the Crypto.

I agree too. The more exchangers we have, the more choices we have in Trading our altcoins, since not all of the exchangers have the same transaction fee and prices of the altcoins in each of them, because of that, they are competing each other while it is giving us benefits. Though I hope they will make it happen to have a hybrid cryptocurrency exchange that strengthen and lower the disadvantage of both Centralized Cryptocurrency Exchange and Decentralized Cryptocurrency Exchange.

[zzz32zzz]

There was another exchange 50x.me
Here is a description of: https://www.youtube.com/watch?v=cYoKpjXdv0c&t=10s

[Woshib]

Even with all exchanges on the market, im not satisfied at all, i remember one time i was reading an article someone had his account locked from that HitBTC exchange for 6 months with 12 BTC, asking for KYC and even that he sent all documents he was just getting random emails from the support team, keep in mind that HitBTC is one of the largest exchanges on the market, i don't trust any exchanger , Not You Keys , Not Your Coins.

[Rodeo02]

It is good to have too many exchanges, my friend. the more exchanges we have the more the decentralized the market is going to be. We need as many exchanges as possible both centralized and decentralized. the more we have the better in terms of the user's choice, freedom, and security.    

Yeah I agree, the more Exchange then competition between the Exchange will be more stringent, and this is good for the development of the Crypto world. We know that every day there are many Cryptos that are born, so we also need lots of Exchange to accommodate the Crypto.

I agree too. The more exchangers we have, the more choices we have in Trading our altcoins, since not all of the exchangers have the same transaction fee and prices of the altcoins in each of them, because of that, they are competing each other while it is giving us benefits. Though I hope they will make it happen to have a hybrid cryptocurrency exchange that strengthen and lower the disadvantage of both Centralized Cryptocurrency Exchange and Decentralized Cryptocurrency Exchange.

Dont forget that we are in the bear market more exchange will be difficult to survive with this kind of market . take a look at coinexchange there announce that they will close this year and more exchange will follow if this bear market will continue. You have many choices to trade but most of them will close and worst is it might be scam traders and faked hacked incident.

[Shasha80]

Sorry to say I am among those who do not agree with many exchanges, because what happens next is the users themselves
harmed. Examples of the quality of service there is a lack of credibility from scam traders, no volume, delisting coins to
with difficulty in withdrawing coins. For those who are experienced it is not a problem to easily choose exchanges that can
trusted. But for a newbie it can become a nightmare, when it is difficult to make a withdrawing and deposit because bad system
or make a bad security system make exchanges easily hacked. But the positive side is that there are many exchanges there will be
many trading options and the development of the crypto world will be more rapid. Finally back again to each decision.

[Greed Dev]

I think competition is essential in society or in every transaction, if there is competition, then the society, the economy will develop, the more benefits for customers, they have to compete to win customers. Since then customers have more options, can exchange transactions faster with lower costs. However, there are still many scams in transactions, so before deciding to pump money, you should thoroughly study, check people's reviews, check the fees. After all, I still appreciate the competition, which is a good thing.

[d3nz]

It is great having a lot of exchanges since you can choose which exchange is having a good price of each token/coins. And, a lot of exchanges of crypto have a different fee when doing trading and withdrawal.

I prefer using exchanges that are easy to use and fast deposit and withdrawal of tokens. A lot of exchanges has different features so it will depends on the user what will be the best to use.

[jmigdlc99]

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 too bad, as long as these exchanges are legitimate and not scams.

I believe it's not so bad because having many exchanges means crypto reserves are not limited to certain exchanges. Having a decentralized network of exchanges sounds more inline with the true and original goals of cryptocurrency.

[pinggoki]

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 advantages of having more exchanges is that it will produce a competition among all exchanges to prove who is the best and the more competition will occur the greater service they'll provide and that would be a some sort of good news for us customer. However, this will be a nightmare for newbies because it can cause confusion since they had no idea that much with regards to qualifications of being a good exchanges.

[stadus]

The advantages of having more exchanges is that it will produce a competition among all exchanges to prove who is the best and the more competition will occur the greater service they'll provide and that would be a some sort of good news for us customer. However, this will be a nightmare for newbies because it can cause confusion since they had no idea that much with regards to qualifications of being a good exchanges.

In addition it is a sign of a growing market as these exchanges would not start their business if they are not seeing a potential to be profitable in the market. Though there are already good and more liquid exchanges in the market, there are still people who are using small exchanges as not all the coins and tokens are listed in big exchanges, there are small projects that can only afford to get listed in smaller exchanges so there's an equal opportunity for every exchange to gain clients.

[robelneo]

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 only see the positives and the benefits, the more exchanges the better competition and they will offer good features and incentives that are not on other exchanges that in the end, investors will end up the winner, just last week coinexchange.io is one of the last exchange that bid  us goodbye but there are many more coming in, and unless they are competitive they will be forced to close shop

[jamesndungu1]

In my opinion, I feel like the more exchanges in the crypto world the better since this means the masses will be able to buy crypto using their local currencies - for example korean exchanges have Korean Local currencies. Competition between exchanges is also healthy since platforms will be fighting for users which means the trading fees will remain competitive as well. Exchnages in the crypto space differ in what they have to offer to the users, thus giving the users different innovative features. Additionally,the many crypto exchanges means that local fiat currencies get to partner with crypto exchanges making it easier for new entrants. However, too many exchanges in the crypto space means that the credibility of some of them is questionable.

[cofinder]

Many exchanges breed competition which mjglqw fairly mentioned. And I think it's not bad when users had a wide range of exchanges - they have what to choose from and try different options for each exchange.

[StephyBeautiful]

More exchanges mean more Arb opportunity. More exchanges also reduce a lot of risk if one of them hacked or exit scam. 

[nasipadang]

That's actually good, exchangers usually compete to provide promotions and benefits to users. The more intense the competition the more we can see which exchanger is the best. Many exchangers who accept shit coins and shit tokens make users uneasy who expect the best coins to be in each exchanger.

[EdvinZ]

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 am watching as the number of second-rate new exchanges increases, the number of weak coins and tokens that are often of no value to the blockchain industry increases. These countless tokens only need to ensure that their creators were able to enrich themselves using these tokens. They are often fraudulent projects and after a short period of trading, the project team disappears somewhere and does not get in touch with the community. I believe that the number of exchanges spoils the reputation of the cryptocurrency market.

[Aying]

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?

If we have many exchanges they can compete and improve their services for us. we will see which exchange has the potential to exist for long term and we will see also which exchange has its own unique idea how it could help us traders. we will find better and let them prove their self that they are worthy for us in this field. hoping that their will be exchange that will meet our expectations.