Too many exchanges?

[Lanatsa]

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 confusion is only happening in the difficult situation otherwise the choices are always important if it was not useful or not suitable for us then we can make the changes in our exchange that's why too many exchanges is also helpful in sometimes but we have to select the right one in all the time.

Lots of exchangers does really give out the option for us to choose but eventually they don't really cater something new which
most of them are just really similar to each other yet the exchange that do have the best service and UI would always be preferred by
majority that's why we do able to see which one is currently the best.

[tiedcoin]

Yes! There are too many exchanges. But I think, not all of them are secure, regulated and decentralized.  Currently, I am active on beaXchange and find it to be pretty reliable.

[Kasabus]

Yes! There are too many exchanges. But I think, not all of them are secure, regulated and decentralized.

Exchanges are divided into centralized and decentralized, crypto is well decentralized but the most popular exchanges here are centralized exchange.
Big exchange are regulated for sure, that' why they have a big volume compared to the decentralized exchange.
That would mean one thing, people want to be secured and they want the crypto space to be regulated.

 Currently, I am active on beaXchange and find it to be pretty reliable.

Not familiar with the exchange, is that beaxy exchange?

[cosmofly]

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 benefit is that exchanges will minimize transaction fees and enhance security and other functions for new exchange to be competitive with other large exchange.
That negative is the irresponsibility of new exchange. Once exchange has become too much, new projects will be established and will try to find many investors and scam all their money.

[cryptoblazter]

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?

Even there are many exchange were We have a lot of options to use em. It is still better and good to use
platform exchange that always on top 30 at the coinmarketcap, it is actually an advantage and safe in my perception.
Because the negative things for me is that if there is a newbie, what if the exchange He use try to use is an exchange
that has no volume in the market and just a piece of shit only, sorry for the terms.

[LimLims]

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?


Exchanges in general is a good idea.
It normally helps users to exchange their cryptos to fiats.
But if you see as of now,  then many exchanges have arised and many are ready to scam their innocent customers.
So IMO always go for the trusted and reputable exchanges. They will keep your money safe.
Binance is one of them.

[olamidey]

There are many exchanges out there with different platforms and mouth watering offers. This email users have different options to choose from. The challenge becomes security of funds. This is where they need to invest in

[whyrqa-1]

In any case, only the presence of a large number of junk coins on the cryptocurrency market creates certain problems, but a large number of cryptocurrency exchanges creates competition, where the user can choose the best cryptocurrency exchanges.  I am only worried about the fact that certain groups of people can cheat and use little-known trade exchanges to promote certain coins and to sell them in order to get money and give unnecessary coins to trusting anyone.  But this is purely my opinion.

[jrrsparkles]

There are many exchanges out there with different platforms and mouth watering offers. This email users have different options to choose from. The challenge becomes security of funds. This is where they need to invest in

basically most of the reputed crypto exchanges doesn't offer much offers because they are not going to get much benefits other than trading fees, so don't get attracted by the offers just see the feedback about the test charge and also regular volume of the coin you are going to trade on that exchanges.

[stadus]

There are many exchanges out there with different platforms and mouth watering offers. This email users have different options to choose from. The challenge becomes security of funds. This is where they need to invest in

basically most of the reputed crypto exchanges doesn't offer much offers because they are not going to get much benefits other than trading fees, so don't get attracted by the offers just see the feedback about the test charge and also regular volume of the coin you are going to trade on that exchanges.

Affiliates exists in any exchange I believe, for us to to be able to sign up members, we would be able to earn a decent amount if they are trading actively especially in trading sites like Binance. It's true that we should also look at the feedback as that's the most important, but a good site will never stop their marketing to increase their volume, and that's why Binance are doing.

[xamxam]

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 many exchange in this field of crypto business industry is giving confusion to the most community traders here.
Some says that this is an option for us to choose easily an exchange, but it is still good to trade that are always on top
in the market of course, because there is a big impact and its an advantage too.

[Cryptostudio.info]

There are so many exchanges but few can be considered really safe, the first ever is Binance, the second I would say Kraken and in the third to consider good for trading is Bitmex

[BitcoinTurk]

Yes, we see more and more exchange services joining this sector day by day. If we look at the past years, we will see that such services are very few and this situation causes various difficulties. Although there are many exchange services available today, it is important to keep in mind that some difficulties persist and because of this excess service, new ones are added to these problems. Due to the excessive service volume, the transaction volume is distributed in various fields and there are services that highlight the element of insecurity in the market. Of course, besides all these negative sides, there are various good things like trading with low commission, arbitrage or gaining bonus in some services due to the competitive environment.

[neblidex_dev]

More exchanges = more options = more chances to get scam = more wisdom = more demand for decentralized exchanges = more decentralized exchanges

[stadus]

More exchanges = more options = more chances to get scam = more wisdom = more demand for decentralized exchanges = more decentralized exchanges

Wrong, less chance you mean because with more exchanges, you have a lot of option on what exchange you will use, of course you'll use the most trusted one.

[TopT3ns]

More exchanges = more options = more chances to get scam = more wisdom = more demand for decentralized exchanges = more decentralized exchanges

Wrong, less chance you mean because with more exchanges, you have a lot of option on what exchange you will use, of course you'll use the most trusted one.

Maybe what he mean is with more exchange there are bad and good exchange, it means there are a lot of chance we will use that scam exchange, like when our tokens only listed in there and then the site closed with some reason. Maybe what he want to say is like that, because we should see positive and negative impact from something like this. So we not get scammed.

[mrozansk]

Like there was written before, most of crypto exchanges are using wash trading to pump up their ranking on CMC and attract retail investors and token issuers. However, there are more and more notable initiatives that analyze the quality of exchanges and also montitor their data feeds to look for wash trading patterns. I have shortly analzyed and summarized those inititaltives (like BTI) and their methodologies in my blogpost here : https://empirica.io/blog/independent-initiatives-that-analyze-crypto-exchanges-liquidity-and-quality/
I think it is worth looking at those rankings before opening account basing purely on volume information

[Leo]

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?

Majority of the new exchanges are  not beneficial to the market,  there are lots of those exchange that support scam tokens to be listed on their exchange.

Almost all of those new exchanges are involved in fake volume manipulations,  giving out false volume so as to deceive investors in investing on their exchange,  I know of some certain  new trading exchange that had fold up due to low trading activities on their exchange

[SlimShadyMmp]

Typically with all the IEO waves there will be many more exchanges to come the only problem is basically what they will be bringing to the table their rate of charges and other promotions With more exchanges that will balance in customers service because most of them will be trying to compete with each other and that a good thing for the user

[anth36jian]

Now exchangers and exchanges in general have begun to appear on the market much more, will they compete with others? this is another question, but as for me it’s difficult, everyone has long taken their place, but got on WhiteBit the exchange what do you think, are there any chances?