How many crypto exchanges are really required?

[rdewilde]

You are right, majority are exchanges thus making it difficult for one to keep track of his accounts not forgetting the fact that some might request for KYC. Also, you will notice that most of these new exchanges do not last, because once you sell a token which is newly listed there, you might not visit the exchange again till further notice, now imagine how many people doing same. The funny thing is, even after selling we still take the funds to major exchanges for trading as the case maybe. Therefore most of these new exchanges we need to be careful of them because it's evident they can't compete with the likes of Binance, Okex etc.

[chaoscoinz]

Having multiple exchanges is good, it drives the innovation by forcing competition, in the end only the exchanges who  offer the best features and customer service, as well as remaining compliant, will be the victor.
This is a new sector within finance so the sector is constantly evolving, I believe we're still in the infancy stages of crypto-currency innovation, just imagine what 10 years from now will look, chances are there will be a new Blockchain that's better than All the current ones out now, or being developed.

[Teawhalee]

These days it has reduced unlike before where you lose count when try to take statistics of them ! It’s just a pointer to the fact that there are many selfish people in this space who cares only about the money !

[Chuky92]

We already have enough what possibly can they offer which will challenge status quo? I see it that they are here for their pockets and nothing more. Last year many swept throughout this space claiming one thing or the other but today, they are no where to be found. Top exchanges keeps advancing so as to remain relevant and new ones are coming up, how possibly can they compete? Let's not be driven by unnecessary anticipated features they are claiming to offer and focus on reality, which is, we have enough exchanges already.

[Starfranko]

Each project coming with their own exchange is analogous to each business having their own stock exchange with that not create confusion for market operators , I think they are way too many exchanges in the crypto-currency space. It is needless having tis number of exchanges for the trading of tokens

[aemma]

In my own opinion, we don't need more, to be frank am tired of registering with many exchanges. Talking about new exchanges, the upcoming ones, what new things are they offering? The features they are bringing to this space how is it different from the ones we are used to? Many have came up with various ideas on how they will beat most exchanges but are now worthless. However, if it's in the case of decentralized exchanges, then we need it; we need DEX which can be fast, user-friendly etc so it can challenge most centralized exchanges.

[Starfranko]

It's time we begin to ask exactly what is the essence of each project coming with their own brand of exchange
 Can't these tokens be traded on other people's exchanges. Are they sone bottlenecks and constraints militating against the listing of new projects in already existing exchanges that these new guys are trying to avoid and until these pertinent questions are answered we will continue to see multiplicity of exchange

[jdarren]

Wouldn't you want a lot to help diversify funds? Just like banks?

[tippytoes]

In my own opinion, we don't need more, to be frank am tired of registering with many exchanges. Talking about new exchanges, the upcoming ones, what new things are they offering? The features they are bringing to this space how is it different from the ones we are used to? Many have came up with various ideas on how they will beat most exchanges but are now worthless. However, if it's in the case of decentralized exchanges, then we need it; we need DEX which can be fast, user-friendly etc so it can challenge most centralized exchanges.

I already stopped registering to new exchanges a long time ago. I only have account to exchanges that I really need to use like if the tokens that I need to sell can be found only in specific exchanges. Because most exchanges are requiring to complete KYC requirements, you don't know which of them are operating legit or not. And you'll never know where your private data will end up with with all these requirements from them. Better stick to known legit exchanges.

[irixo10]

Now a days, I have observed that out of ten projects three or four are of new exchanges. At the moment there are so many exchanges available for cryptocurrencies. When we invest in other projects and its token got listed in one of the new exchange, we have to create account with that exchange to trade those tokens.
Do you really think that there is a need of so many exchanges? isn't it very complicated and lengthy to keep accounts in many exchanges?
Please share your views.
  

I don't think we need more, that strength and courage should be channelled into developing unique projects which will help the course of crypto in general. But most times I don't blame these new exchanges because when you check what it takes to list on most top exchanges, it is really discouraging; but if these new exchanges will really stick to their ideas it will help a lot, but the issue is most don't even last, thus my first statement. To answer your question, there is no specific number, we only need trustworthy and reliable ones.

[Bananington]

That's a good observation, many new projects are exchanges and it doesn't really make much sense since most, if not all, are not up to the standard of existing exchanges. We do not really need too many exchanges, we need few exchanges with required features for a seamless experience, especially top notch security and low fees.

[taufik123]

Every day crypto projects keep popping up and new Exchange keeps popping up. It does look very complicated if you see an increasing number of exchanges. every exchange that is developed has its own advantages, starting from the features, transaction fees and possible listings that are needed to be registered on the exchange.

I myself only have exchanges that have a large volume of trading and are already trusted, in each country having their own local exchange that is used to attract FIAT in the eyes of their country. For other exchanges depending on the coins that I have, because as a bounty hunter must register at every exchange that is used to list the coins that I have.

[tabas]

There's a need for competition to avail the best exchange which we deserve as traders and customers of them. But I don't think that we need a bunch of them competing with each other.
It's already too much if from time to time there's always a new exchange that comes out and tells that they can be the best exchange in the world.

[key4co.in]

I don't really believe in numbers but quality. More and more clueless exchange projects keep sprouting and adding up to existing exchanges without any revamped changes. I think we should patronize only exchanges with all-in-one required features which gives traders reasons to trade on them.

[freedomgo]

The purpose why a project continues to aim to get listed in different exchanges is to increase their liquidity and awareness to the people.
Look at the most successful projects in the market, ETH is a good example in altcoins department which is popular across the world.

As of today, it is listed in 400 exchanges, you can view it here https://coinmarketcap.com/currencies/ethereum/#markets
With that big number of exchanges, even it will be delisted in some exchanges, it will still continue to be traded in other exchanges, and mind you that those exchanges are operating in different countries, that's where the awareness will grow.

[Retainly_Collie]

The problem is that we have thousands of different cryptocurrencies and some of the less known altcoins are being traded only in one or two obscure exchanges. So in case a bounty hunter or an airdrop recipient wants to encash his reward, then he needs to register to these exchanges. They have no other choice, as the bigger exchanges will never allow these shitcoins in their platform.

Agree. Bounty implementation projects are often shit projects and they cannot be listed at large exchanges. And bounty hunters have no other way than to register and use shit exchanges

[Alluro]

Most new exchanges have low volume. Those exchanges are not good for trading. If you have no idea about any ICO project listing, don't invest them. That's why your own research is important. Because there are so many ICO projects, but they are listing on low volume exchange and they are not giving a profit to the investors. You can go with IEOs from top exchanges. If you are going to invest in coins, you can go with the top coins on top exchanges.

[TheUltraElite]

Agree. Bounty implementation projects are often shit projects and they cannot be listed at large exchanges. And bounty hunters have no other way than to register and use shit exchanges

The reason some shit exchanges like Yoshit exchange exist is because of the bounty hunters. They go for every new token being posted here and do their bounties not even thinking twice that it is going to end the same way as every other shitcoin bounty. Then they go for exchanges their tokens there because the project cannot spend 4 BTC or more to get listed on big ones like Binance.

This system is basically running for several years now. Bounty does generate some marketing but at the cost of quality and trust.

[Shallow]

This space is already saturated with many exchanges even the ones we don't know, and funny enough many are already promoting IEOs; made research few weeks ago, I was surprised on the new exchanges promoting one IEO or the other, one exchange is promoting more than 2 at a go. So from this, I can't be mistaken for saying that these exchanges only cares about Money, thereby not putting in place features which can make them last long. Binance as big as it is, keeps upgrading, that's to show the level of seriousness within it. We don't need more exchanges, let the ones existing improve no matter how small they think they are, and you will see people trading there.

[Republikcoin.com]

the project exchanger is the most profitable project, even for the founder of the project, because it is a definite advantage as long as they run it well. for now, there are many exchanger projects who want to compete, or beat the current popular position of exchangers. in addition, there are also some old exchangers who do not survive the harsh competition. such projects will always be there by offering their latest innovations, and exchanger who cannot survive, will stop and be replaced with new exchangers. therefore, there will always be a project exchanger.