Sorry We are Closed

[Pamadar]

First time I hear about this exchange in Korea. There is no reason to blame the exchange management for this shutdown and I blame the market conditions that forced them to accept this decision.

The management surely decides according to their assessment of this Market condition, there's no point in continuing if they can't get any community supports, new competitions are everywhere and traders already find comfort zone with other trading platforms, let the future decide with the fate of every exchange sites.

[cryptobae10]

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 think it’s still not a good news because at about 4 new exchange are launching each month
Which isn’t good for the crypto space

We need a situation where traders can get only safe true and secured exchange always

[Kakro]

Everyone want to make money. So there are a lot of coins and exchanges. But do not worry only the exchanges that can address the aspiration of growing traders can survive and do the good in the future.

[Ailmand]

It's because of the low trading volume. It has a negative effect of course because what we really need is a stable exchange and it's hard to start over again. There are lots of exchanges blooming yet we still seek for security and assurance. There should be a well-established exchange that wouldn't shut down because that's what every trader is looking for.

[burky155]

I really don't understand that why there is too many exchanges out there? It is bad for the investors and bounty hunters.. In last 3 years i had to sign up with more than 30 Exchange for my different coins and that was really big wasting of my time. Also every Exchange has different rules (some of them are really stupid) and fees. And as far as i can see every new day new Exchange opening.. It is not good and it should stop..

[lizaangel321]

It's clear that such a number of exchanges is not needed. Many of them are created for deception, a bounty is created and a token is issued, which is traded there only. As a result, people invest their money, and then the exchanges close

[funnec]

Personally, i feel having more exchanges will give room for competition that will surely lead to the best service we can have from these exchanges.I will support more exchanges.

[sandgluenick]

The project is still developing and if you ask if you still need an exchange, I think it's still because everyone in it needs each other to get a clear idea of the product idea. If the exchange of stop eating investors will be difficult to develop, I don't really know but in my opinion the Crypto room requires a clear project.

[CLywaTeLb]

Personally, i feel having more exchanges will give room for competition that will surely lead to the best service we can have from these exchanges.I will support more exchanges.

Apparently, you are from another planet. There are already so many exchanges, as many cherries on a tree. If we assume that all of them are not scammers, then soon there will be more exchanges than another listed assets. But this is absurd.

[rosezionjohn]

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

Oh well good riddance to them. It's what you get when you f*ck up at the very beginning. The conviction of one of their official definitely played a role to the decrease in users interest.

Now to the question, do we need more exchange?
Since there was a report that majority of existing exchanges today manipulate their trading volume, we certainly need more legit exchanges.

I think it’s still not a good news because at about 4 new exchange are launching each month
Which isn’t good for the crypto space

We need a situation where traders can get only safe true and secured exchange always

It's always good to have a competition, new exchanges pushes existing ones to keep on improving.

[5ensei]

It is not the right time for exchanges to start, there isn't enough trading volume for them to make a profit. It would be better for them to raise funds privately and to create something that binance doesn't offer - e.g. a simple exchanges for n00bies

[yulchatar]

I think that there is no need for more exchanges than already exists. And undoubtedly, competition is also present. It's better to improve the quality of existing exchanges.

[ParabellumLite]

I heard that Coinnest's CEO was arrested, which is one of the reasons why exchange was closed. And you also know that there are many other large exchange companies, Coinnest is only a small part of them

[grifinmch]

I heard that Coinnest's CEO was arrested, which is one of the reasons why exchange was closed. And you also know that there are many other large exchange companies, Coinnest is only a small part of them

A person's reputation does affect his performance, if the CEO is caught, the company will have a negative impact and this happens to Coinnest so that no policy can make it last. Team and community are also difficult to act on their own, this makes Coinnest users really have to leave it to continue with more potential assets.

[zgrdyg]

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 really think we don't.

Every new day an exchange borns and put fake volume. And after that they went to projects telegrams and begs some btc for listing. We really don't need anymore shitty exchange.

[Hans Groober]

my questions is, does we still need more exchange in this industry ?
thank you

We need more decentralized exchanges that allow people to trade without registering and passing through KUS.
Recently, there have been frequent cases when stock exchanges are blocking people's funds demanding to go through CUS or provide data about money.
That is why decentralized exchanges will become increasingly popular.

[sabine80]

too bad to read that coinnest has to close. i did not use the exchange often, but it is a pity when a crypto exchange has to close. but at the same time it makes room for new, good exchanges and that is not bad either.

[oriontab]

“It is a natural result of a decrease in trading volume. Both regulatory issues and business decisions have served as a background for this decision.”(excerpt from the article)
I think it has more to do with bad business practices rather than trading volume.Many upcoming exchanges are hopeful that a bull market will ensue soon and they will be in profit.

[xOdiumNostrumx]

Definitely not in the space of centralized exchanges. But the adoption of decentralized ones is a necessary step forward to better anonymity and safety. But it will be hard to compete with Binance DEX and the Nash (ex NEX) newcomer, Resistance could also be a sizable player in this segment.

[okala]

That is a timely notice to all they user but the exchange did not state the reasons for the closer of the exchange. And from they notice users are given uptil April 30 for withdrawal from the exchange and the minimum amount have been lowered down to assist the process.