Why do we need so many cryptocurrency exchanges?

[Sebas.tian]

Exchanges are needed so people would have the freedom to choose which platform caters to their taste. Many exchange would also make crypto more reachable for the people who are new in this space.

[edisystem]

In addition to the exchanges listed on the CMC, there are many other exchanges.I have a question WHY do we need so many exchanges?What do You think the new exchange will be able to attract potential users?

Because cryptocurrency exchanges is a profitable business. Do you know how big is the profit for an exchange? It's really big, that's why there are so many exchanges.

Mostly new exchange will be hard to get users but once it operate and giving some promotions it will slowly used by other traders.

[Nolimitz84]

In addition to the exchanges listed on the CMC, there are many other exchanges.I have a question WHY do we need so many exchanges?What do You think the new exchange will be able to attract potential users?

While those upcoming exchanges should put emphasis on gaining trust to attract potential users.

I personally think that in order to gain the trust of users you need to create a convenient and clear interface.Round-the-clock technical support,multilingualism,the presence of competitions and innovations can really attract a lot of users.But in order for new exchanges to be in demand, there must be many users directly using the cryptocurrency.

[thirdlight]

Exchange for virtual currency is like a bank for Fiat.  There are not many of them.  If there is demand in this, then there is competition among them.  And while for a simple user it is easier to pick the right exchange.

[annango]

Exchange for virtual currency is like a bank for Fiat.  There are not many of them.  If there is demand in this, then there is competition among them.  And while for a simple user it is easier to pick the right exchange.

Yep, because crypto market has demand for using exchange, hence it comes with not surprise when our market surrounds with a vast number of exchanges. Especially, as we all know that each exchange remains its own function. Probably we have seen many different types of exchanges, and that is kind of difficult for one to choose a reasonable exchange. Obviously, the number of exchanges is becoming increase every single day, it's a clear sign of competitiveness. If an exchange is created with a more dorminant function, definitely it attracts much attention of people. But as you can see, it's pretty hard to create a renow exchange which can please people quickly.

[Ayiranorea]

We've got more than 2000 cryptocurrencies on the CMC. Among this very few have got good trading volume and has got listed to large number of exchanges. Also the existence of more and more cryptocurrency follows, and for the same we're in need of more exchanges. Even now we've got large number of exchanges while a few function perfectly and holds good trading volume.

[XinXan]

That's how it works, ultimately the ones who are serious about it will try to offers something better, whether it's regulations, better fees, faster platform, more detailed charts, more trading options, margin trading, etc etc. We do in fact need more cryptocurrency exchanges, hopefully decentralized ones as well.

I think all these features (except margin trading) are available on any exchange.I also give an advantage to decentralized exchanges,but in addition to + they have negative sides.

What do you mean? How can all exchanges have better fees and faster platforms lol? I don't think you even read what I said. Exchanges just like everything else compete with each other. I don't care if there are 1 million exchanges, people will still pick the best ones so in order for exchanges to work they have to offer something new or better. Decentralized exchanges still have a lot to improve.

Decentralized exchanges are for future state glows. But even they have their differences. As said, there may be a million exchanges but only the best ones will be used.

Decentralized exchanges are great for exchanging but you can't trade on them, they are too slow, too clunky and they offer 0 customer support in the way that if you fuck up something, they will not help you, they can't. I can't imagine someone who wants to trade with 10m $ using a decentralized exchange where 1 click can make you lose hundreds of thousands of dollars, it's simply never going to happen. When decentralized exchanges are as fast as normal ones, a lot more people will use them.

[jak3]

Why not, you know there is a lot of exchange but still, you are going to use them. of course there are a lot of pros and cons to this. like we know it can devide the potential users and at the end they can even make them leave the network but on the other hand because of these exchanges we can observer different prices at multiple exchanges, which can cause better profits.

[bhabygrim]

In addition to the exchanges listed on the CMC, there are many other exchanges.I have a question WHY do we need so many exchanges?What do You think the new exchange will be able to attract potential users?

I think we already have so many exchange platform and we don't really need new ones unless they can provide us something new and more secure system.
We already have plenty of well known exchanges that has been with us for so long so why would we need a new one if they couldn't give us something different from the old ones.

[Yamifoud]

In addition to the exchanges listed on the CMC, there are many other exchanges.I have a question WHY do we need so many exchanges?What do You think the new exchange will be able to attract potential users?

I think we already have so many exchange platform and we don't really need new ones unless they can provide us something new and more secure system.
We already have plenty of well known exchanges that has been with us for so long so why would we need a new one if they couldn't give us something different from the old ones.

Cause of its numbers, some exchanges especially those low volume exchanges haven't recognized by some traders and it so sad that some of them have already bankrupt.

Yeah, it won't make sense for now if we welcome another exchange cause we have already and speaking of reputable one, have its numbers also. They'll only have to sustain their good service or even more to attract more traders to use their platform.

[kickdapa]

I think we have enough exchange already! The crypto market doesn't need any new exchange but if Decentralized exchange comes then we may welcome them! Otherwise, we have plenty of exchanges and a lot of exchange hasn't enough volume. Sad but true that people are very greedy now, they are bringing exchange base ICO as its previous successful ratio pretty good! But yet we have enough exchanges!

[DreamStage]

It's not about how much but to whom they belong to. Each exchanger belongs to a company owner.
Different approachs and mindsets, visualizations makes each exchanger a new one (unique pherhaps).
Having many exchangers gives us (the users) opportunity of allowing to chose from a big list on which is the best for our goals.
It's just a matter of preference in the end for each individual user.

[uneng]

We need real time concurrency. As more exchange options we have, the better the offered services will be.
That is a basic rule of free market: if a exchange is doing great, the concurrency will have to offer a better service to take the customers. Then the first exchange will have to improve their initial service even more to not lose the customers, and so on. It may be challenging for exchange owners, but for customers it's pure convenience.

[leps]

Exchanges are needed in this space but few are legit. All the exchanges want the same thing and that is to make money from this market. Now, these exchanges continue to pop up because many of these shitcoins are not listed in these big exchanges and the communties flock to these exchanges that list their tokens/coins so if you guys remember cryptopia was one the exchanges that listed shitcoins that were not trading anywhere else apart from yobit. These are very risky exchanges usually with low volume of for the most part with fake volume to lure in traders. I hope people got their lesson learned from the recent hacks to excchanges. Even binance was hacked but they have the funds to cover the losses. Most of the other exchanges can't take that hit and stand up. Remember, not your keys, not your coins. Buy a ledger or a trezor!

[bering]

For me it's simple that i don't need many crypto exchanges but the most important is we need trustable crypto exchanges with low fees, high volume of support and anything else which advantages for the users themself and if possible no KYC required to have an accounts at there because in my view it could be useless if plenty of exchanges but they have bad service

[antisocial77]

We do even some friends think we are.its not important about the sector, the biggest problem is monopol corps.if there are no rivals, there will be no improvements, price balance or owners satisfaction.

[Nanagyasi]

What do you think would have happened if only two or say 3 exchanges exist???
Definitely there need to be more to enhance competition. We have seen exchanges with zero trading fees and that to me, is as a result of the competitive.

[salty]

We do even some friends think we are.its not important about the sector, the biggest problem is monopol corps.if there are no rivals, there will be no improvements, price balance or owners satisfaction.

Among the exchanges on CMC and it is worth competing! Why create thousands of new ones? Answer the truth, how much you really do not just use, but know the stock exchanges? I can list about 15. All! I will not explore all the exchanges listed on CMC just to save on commission.

[XinXan]

We do even some friends think we are.its not important about the sector, the biggest problem is monopol corps.if there are no rivals, there will be no improvements, price balance or owners satisfaction.

Among the exchanges on CMC and it is worth competing! Why create thousands of new ones? Answer the truth, how much you really do not just use, but know the stock exchanges? I can list about 15. All! I will not explore all the exchanges listed on CMC just to save on commission.

There are a ton of stock exchanges, what are you talking about? There are 60 major stock exchanges in the world but there are a ton more with less volume. The crypto market is too fresh so it needs new exchanges that have more regulations or other legal requirements that might be needed in the future.

[Pumared]

We do even some friends think we are.its not important about the sector, the biggest problem is monopol corps.if there are no rivals, there will be no improvements, price balance or owners satisfaction.

Among the exchanges on CMC and it is worth competing! Why create thousands of new ones? Answer the truth, how much you really do not just use, but know the stock exchanges? I can list about 15. All! I will not explore all the exchanges listed on CMC just to save on commission.

Compare stock market with market of critpos is very wrong. First of all that purse exists a whole regulation, so you few. Secondly, because they are service providers and therefore intermediaries, the exchanges compete among themselves, so it is normal for us to have many of them, because it is simply a competition.