Too many exchanges?

[milewilda]

If you are participating bounty campaigns, your tokens will not be directly listed in the coinmarketcap, thus the team will listed their tokens to newly existed exchanges while negotiating for the other exchanges.

Whether new or old, there is a certain requirements that you coins will be listed in the coinmarket.
AFAIK, you need to have a good volume and listed in at least 2 exchanges, and it's possible even a coin is new as long as the team will pay.

Only the problem is that might this exchanges won't have a huge market volume in which price will drastically dump and it is so sad that it won't recover easily.

That's the problem now, it's because of the market sentiment so most coins has no liquidity.
It might be hard to recover but I believe it's still possible, it will only take time and for us to enjoy selling at a good rate, we have to wait.

The great number of the exchanges leaves us a choice: we can pick any of them. Certainly, before you decide to make an exchange here or there, read the reviews about the resource attentively.

As an investor or trader it is just really a normal thing for you to search the best ones before putting up your money to trade on and also more exchangers do give
us more options or choices when it comes to exchanger yet there are tokens which are being traded only on some certain exchange because not all is only being listed on
a single one.

It do have advantages and disadvantages though but overall the decision and outcomes will still always depend on how users would choose on any of them.

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[bitcoin31]

There is more benefits of having more exchanges site now because it can help to have a lot of traders to buy altcoins. But it can cause also to dump because once the exchanges site are scam the funds they get will convert into real money that cause to dump price because they will get millions of dollars in small exchanges site how about big exchanges site incase they become scam.

[Akagum]

The disadvantage I see is that the exchanges might not have good volumes.
This is Because when a coin is trading on so many exchanges , traders and investors are at liberty to but from any exchange of their choice .
And so because the coin is not listed on one exchange....the expected volumes from that particular coin becomes unconcentrated in one exchange.
There are many advantages, one if which is it  presents people with the choice of buying their altcoins from any exchange of their choice .....which increases user participation while increasing adoption rate.

[babarian]

I think eventually many people will only use a few exchanges and the others will go. Your exchange has to be different to stand out in front of all the others.

some exchangers are only interested in the end result, when they see the success of the exchanger who has been successful first, without them realizing that they cannot be better than the exchanger that already exists.
they should be able to cover the shortcomings of existing exchanger so that they can be the best choice for traders to trade their coins on the exchanger.

[sidkz]

There are really a lot of exchanges, but very few good ones enjoyed by a large number of people, they mostly open up but they are not used by anyone, and these exchanges have no future

[dr.hopkins]

There are a lot of pros and cons, so I will say this:
The main plus in freedom. You can choose any exchange. Each platform has its own conditions, so you can choose the ideal for yourself.
The main con is that there are many exchanges that do their job not in good faith. It is not a secret to anyone that most small exchanges do not do their job at all.

[zhekinsp]

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 exchanges still not convincing the traders to use their sites so it is still not making any changes to the cryoto field but having more exchanges have more benefits for the traders which can give mkre options to pick exchange with less fees.

[coinhunt]

A big number of crypto exchanges mean high competitiveness. And in order to distinguish from competitors, they introduce new features, more cryptocurrencies, better security measures, bonuses and referral programs. In general, the users benefit from it. Plus there is a wide choice of platforms so everyone can find one that fits the most. For me, security and legality is a top concern. Therefore, I use cex. In addition to high-level security and certificates, the exchange offers reasonable fees and supports both fiat money (https://cex.io/bch-eur) and cryptocurrency for trading. Every platform tries to find its killer feature to attract users.

On the other hand, the existence of too many exchanges can confuse. In such a case, it becomes easier for scam projects to hide among the reliable and trusted platforms.

[kurian]

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.

[gabmen]

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 exchanges still not convincing the traders to use their sites so it is still not making any changes to the cryoto field but having more exchanges have more benefits for the traders which can give mkre options to pick exchange with less fees.

Well the more competitors, probably better for the customers. That'll force the newer exchanges to make sure their services are better to attract customers and the older ones to make sure they keep up. Of course there will always be illegitimate among these exchanges and it'll be up to the traders to practice precaution.

[Fredomago]

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.

Exchange will survive as long as there's traders who's willing to take the risk using the platform, with new additions of those exchange platform
traders got a lots of options, what we needed to  do is to dully check and review what new exchange have to offer and how secure the business
knowing those grounds will allow us to be confident using the service.

[Noa_Amable]

many exchange mean good for cryptocurrency
thats mean more growing on cryptocaps
but nowdays many exchange that just launch then no stay longer
or there is no transaction there

Many exchange doesn't mean good for the crypto-world, especially those exchanges targeted to scam investors with different methods or system put in place. Recently we had heard issues with many exchanges of exit scam while others with KYC scam, to make deposit without KYC but to make withdraw with KYC.

You quite rightly said regarding the provision of personal data. It seems to me that the yaks requirements contradict decentralization and anonymity and the use of cryptocurrency. Even in the midst of the popularity of the cryptocurrency market, these values ​​were respected by almost everyone, and now everyone wants to break it.

For me it is good that we have so-many exchanges so that we can choose what is good for us. Also, there are these non-custodial exchanges with no KYC feature. One among such website are CoinSwitch.co. They let users trade anonymously.

in some cases no kyc restricts your abilities,e.g. you can not trade fiat/cypto without kyc and deposit/withdrawal limits are tough. anyway, regulation will make this field better and more usable for people

[whaawh]

many exchange mean good for cryptocurrency
thats mean more growing on cryptocaps
but nowdays many exchange that just launch then no stay longer
or there is no transaction there

Many exchange doesn't mean good for the crypto-world, especially those exchanges targeted to scam investors with different methods or system put in place. Recently we had heard issues with many exchanges of exit scam while others with KYC scam, to make deposit without KYC but to make withdraw with KYC.

You quite rightly said regarding the provision of personal data. It seems to me that the yaks requirements contradict decentralization and anonymity and the use of cryptocurrency. Even in the midst of the popularity of the cryptocurrency market, these values ​​were respected by almost everyone, and now everyone wants to break it.

For me it is good that we have so-many exchanges so that we can choose what is good for us. Also, there are these non-custodial exchanges with no KYC feature. One among such website are CoinSwitch.co. They let users trade anonymously.

in some cases no kyc restricts your abilities,e.g. you can not trade fiat/cypto without kyc and deposit/withdrawal limits are tough. anyway, regulation will make this field better and more usable for people

I think that this situation is rather scrupulous about cryptocurrency exchanges, because today there are quite a lot of resources that offer a very large variety of services under certain lists of conditions, which also carry quite a different character. But if we talk about personal data, I would first of all pay attention to the ico market of companies in order to protect users of cryptocurrency from fraud. First of all, it is necessary to strengthen the control over new projects and to check all new ico companies, and not to check the investor and other users of cryptocurrency.

[MuhNofa]

if in my own opinion I don't think there will be any impact on us, because usually the new exchange takes a long time to get members who want to do the tranding in their exchange

[nydiacaskey01]

Good thing about new exchanges being launched and growing number of exchange sites is that those who are already operating will be forced to improve their services and offer lower fees as possible and maybe come up with better promotions so that their existing clients will not transfer to the new ones or another exchange.

[Dreamchaser21]

if in my own opinion I don't think there will be any impact on us, because usually the new exchange takes a long time to get members who want to do the tranding in their exchange

And they are slowly dying because of the fake trading volume. Well, so many exchanges to choose but you should focus more on the top exchanges since it can give enough security and the trading volume is real. Some exchanges are being manipulated, you have to stay away from that exchanges.

[karloscimot]

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 exchanges are a sign that more and more traders are using bitcoin in trading. this is a very good sign that we can see a positive progress in the world of commerce, crypto is increasingly in demand and increasingly known throughout the world.

[sidkz]

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,

[Viscore]

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.

[LeGaulois]

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.