Sorry We are Closed

[arjuna BTC]

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

[1715315152]

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[wedosgibas]

-snip-
but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

We already have too many exchanges, too much until the trading volume is falsified, we only need to set up exchanges that are truly safe and comfortable. No need to multiply with same facilities.

[Yaunfitda]

I believed in the old adage that "more is better', meaning more competitions around, more options for everyone in crypto sphere. Remember that we are also growing, so it's about time that exchanges are born as well.

The only drawback is that with so many exchanges around, there could be reasons for some of them to pull a exit scam. So just be careful, and also used your common sense specially dealing with new exchanges.

[sopanbmp]

We already have too many exchanges, too much until the trading volume is falsified, we only need to set up exchanges that are truly safe and comfortable. No need to multiply with same facilities.
[/quote]

Agree, there are so many exchange lack of security, privacy guard and performance. now we only need some exchange that providing more scure, easy user interface and optimized.

[Sri rahayu]

~snip~

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

Yes, Seeing so many new tokens popping up, I don't think it's possible to enter a big and famous exchange, because they must meet certain conditions. so, for new token holders, I think that requires an exchange that can receive new tokens. IMO

[NeuroticFish]

I don't know how good they were, but I know the name. Quite shame..
I think that a good number of exchanges in more than necessary. Small number of exchanges means bigger centralization, means a bigger risk for manipulation...

[inanilujimi]

just like altcoin are increasing every day and so will also be offset by an increase in exchange so this is only natural if a lot of exchange projects at this time because by increasing the exchange we easily trade according to what we want.

[green547]

Good riddance another badly run exchange has gone down, let own the strongest survive.  That is how a free market is supposed to function.   Now we need to target exchanges faking volume on coinmarketcap.

[muslol67]

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

Every new exchange opened makes it difficult to keep track of the transaction volume in my opinion. Instead, a few but powerful exchanges are more suitable for today's conditions.

But the biggest feature of the system is to be decentralized. As such, in normal circumstances, the greater the exchange rate, the better. I think it may be useful to increase the number and use of DEXs in particular.

[Golftech]

I believed in the old adage that "more is better', meaning more competitions around, more options for everyone in crypto sphere. Remember that we are also growing, so it's about time that exchanges are born as well.

The only drawback is that with so many exchanges around, there could be reasons for some of them to pull a exit scam. So just be careful, and also used your common sense specially dealing with new exchanges.

That point is valid, the more the better, competition is good for businesses that play well we seen things currently happened, old exchange got hacked or decide to close down then another exchange will be introduced, what we have to do is always to study and analyze the possibilities, if exchange have something to offer and the team around is fit enough to run the business then you can check it  out and try some trades.

[wumBowo]

the exchanges closed because of how bad they operates.
but i must say it's look like local korea exchanges now not have a great power to control price like they ever had back on 2017 and 2018 especially after the declined price of btc.

[Woolles890]

With so many exchanges we keep choosing exchanges that are indeed safe and comfortable. Competition in exchange makes us and the team always provide good service to continue to survive. If the exchange with the service is not good and invalid it is appropriate to close.

[asayoyaasa]

We already have too many exchanges tbh, I mean there 255 exchanges listed on coinmarketcap. Let's be honest here, how many exchanges you use daily? For arbitrage maybe or just do some daily trading, me myself maybe only use around 5 to 7 exchanges, but have more option is nice anyway. But since there some IEO around, many new exchanges born. So you better be careful before registering to any of those exchanges, not only your balance maybe not safe but your credential can be stolen.

[yeniruieni]

The more exchanges I think the better. So that new coins can have a great opportunity to enter on every exchange. With the Stock Exchange closed, of course, open opportunities for other exchanges to increase trading volume.

[Blowon]

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

I never heard the exchange like a familiar, but third largest exchange in korean enough surprising me for closing down.

For my opinion for answer your question, Why we need a marketplace to buy-sell or place for trader. on other side, tokens or coins have born and need place to make it be growth,.

[Thanasis]

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

Definitely we need more crypto exchanges then only we can get better experience while trading if there is no competition between exchanges then we may face may issues and low support.Many new exchanges popping up and gaining reputation and old exchanges are also losing their reputation which clearly shows if an exchange is not good then people might avoid it.

[Jating]

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

Definitely we need more crypto exchanges then only we can get better experience while trading if there is no competition between exchanges then we may face may issues and low support.Many new exchanges popping up and gaining reputation and old exchanges are also losing their reputation which clearly shows if an exchange is not good then people might avoid it.

Binance had set the bar high, so it's survival of the fittest. Just sad to hear another exchanges saying goodbye, good riddance.

Anyways, there are still hundreds running around and I'm sure there will be more coming in the next couple of years. There are lots of money in this market, that's why I'm no surprised that a lot of investors who are willing to put up exchange and this is good for the ecosystem in the long run.

[MonsterV]

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

Depends on technology in my opinion, because each exchange has different technologies and features and this is what distinguishes between other exchanges.
We will need a new exchange when the old exchange has never updated its features, because there are lots of out-of-the-way exchanges that are less than perfect like not having cut loss, security, etc.

[rijaljun]

Many projects try to build a new exchanges and claim that they are the best. I think these exchange will promote crypto in wider range and more new people will know about crypto and come to crypto space. It means that the total volume will be higher than before. By time, when the exchange indurstry become tough one by one will announce that they will close their operations and only the real strong exchanges left.

[befriendmywater]

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

It is definitely sad news for traders in Korea. New exchanges are always necessary for the crypto market because it creates competition between exchanges. Competition will motivate more technologically advanced exchanges and they will devote more to the market over time.