Too many exchanges?

[metribitcoin]

With alot of competition between exchange, so they will offer something different by offer more benefits to attrack trader. Which exchange that offer better product they will be number 1, and others exchange that not creatif to offer something different and more quality product, they will decrease in trading volume and number of trader. So more exchange in the market is good for trader and crypto community.

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[begau]

In the form of monetization that is stable as well as less dependent on the fluctuation of the market price of crypto. Perhaps the main reason for the exchange was born. By profiting from these exchanges are quite large when they collect the Trading fees in a day are huge.

[Golftech]

In the form of monetization that is stable as well as less dependent on the fluctuation of the market price of crypto. Perhaps the main reason for the exchange was born. By profiting from these exchanges are quite large when they collect the Trading fees in a day are huge.

Quite right, with many exchange that has been created overtime traders will have a lots of options where to trade their assets, the more exchange we have the more competition will happen between exchange, both sides will benefits traders will have many place to make their transactions while site owners will have the benefits of catering large numbers of trades and enjoy the transaction fees..

[Rashid555]

For a product if many shops were there then every one will try to promote their sale and convince customers by giving them some gifts so this is in the case of crypto if many exchanges were there it is a good and beneficial way because every one will be competent and they will make transaction faster.

[legendbtc]

For example, consider a single product can available in multiple shops and it doesn't mean there won't be any value for it. In this way, each person will have a different perspective about the exchange, every person is not is happy with one exchange and they will choose differently for trading different coins.

[Bushrat Jahan]

There is a proverb that there is not good service where is no competition. So too many exchanges are beneficial to us because we can get better service. If any coin is not listed on different exchange then traders are afraid for doing trade so too many exchange are needed to us that means traders.

[kagawawa]

The more competing sites on the service the more quality it will be. Helping investors and traders make the perfect choice for the future of the crypto market.

[Inikoo]

We supposed to live in a free world, and so I think, anybody who puts the effort to create a new exchange, should be allowed, if fullfilling the criterias. Also, competition is good to the market IMO. So for me it is OK.

[daviidalpert]

This shows that its competition is fierce.But in some exchanges, there are very few users.Only a few exchanges are popular

[Wittycoin]

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 think many exchanges are not beneficial because the money that people are putting in crypto are spreading too much and makes the price low.

[rjsmith]

Now a days we see many exchange are coming and too many centralized exchanges aren't good.more project more exchange then we will good for trader and crypto community.

[millensharon8]

For a product if many shops were there then every one will try to promote their sale and convince customers by giving them some gifts so this is in the case of crypto if many exchanges were there it is a good and beneficial way because every one will be competent and they will make transaction faster.

Yeah, that is what competition generally brings in most cases. Everyone trying to pitch their product as the best and you cannot pitch something as the best if glaringly you do not look like it. The more good exchanges pop up and not just some shitty exchanges, the more the competition will increase, the more a lot of innovations and features will keep coming as most of the exchanges will want to have their games levelled up and the more we the users keep enjoying the side benefits of those competition. If there is no competition, it is always hard to enjoy great performance from most things.

[StefaniGolf]

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.

I totaly agree with u. I've tried a lot of crypto exchanges (Bitmex and Binance too) and I'm still waiting for the better one. And I'm still waiting for Monfex launch, hope to try trading on demo account. I heard that it'll be the simplest crypto trading platform

[Barcode_]

This shows that its competition is fierce.But in some exchanges, there are very few users.Only a few exchanges are popular

I think it is better for crypto-currencies traders to use the exchanges that are more well known and famous, and most importantly, the customer service of the crypto-currencies exchanges must be responsive in replying customers emails, I guess it is also good when there are many crypto-currencies exchanges available in the market, as it provides more alternative choices for the traders to choose their most preferred platforms to trade crypto-currencies.

[darasinmi4show]

There are too many exchanges where you can trade but be careful  with some of them do that you will not loss your fund. However, before you trade anywhere just try and verify the exchange. Best of trade.

[Anatoly339102]

Yes, i agree, there are lot of exchanges now, and people can choose. But i don't understand why so much people are afraid of verification? And when in January btc was 20k, many exchanges closed registration.

[blackhawkeye1912]

I don't see any problem with too many exchanges. Each of these exchanges has their own differences such as transaction fee and range of coins in the trading. Competition would be good for better performances. From these exchanges you can choose the good ones.

[OrangeII]

Yes, i agree, there are lot of exchanges now, and people can choose. But i don't understand why so much people are afraid of verification? And when in January btc was 20k, many exchanges closed registration.

well, exchangers are a profitable business, but of course it is not easy to make it survive in the many exchangers at this time. it is easy, which cannot survive, and develop their projects, so it will be difficult to develop. Well, I think it has its own disadvantages and advantages

[oceantiger]

The more the merrier and there are some advantages to the trader when there are many exchanges which will give the trader options  to choose  from. All you need to do as a good trader is to do your own research among the options of  exchanges that there are and identify the ones to use depending on your own preferences. Some may not be critical about security but lesser service charge while other may be serious about the safety of their coin and may not worry too much profit.

[otundebis]

Exchanges are essential in cryptocurrency trading and investing,  we need to see more development and growth in cryptocurrency and more player need to come to market.  The cryptocurrency is growing and expanding,  so exchange should grow as well!