Quote from: Nolimitz84 on May 13, 2019, 08:35:51 PM

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 need as many safe and worthy exchanges as we can. The more of them we have the stronger competition will be. Cryptocurrencies are being more and more popular and nothing seems to slow down this expansion, and companies which are creating exchanges will have to improve their services. Someday the number of users will outgrow the possibilites of current exchanges and when the moment will come, the next players in the game must be ready to introduce something better.

Quote from: XinXan on May 30, 2019, 08:05:32 AM

Quote from: nutella_11 on May 30, 2019, 07:58:14 AM

Well, this is how the market works. There is a competition, like everywhere. Exchanges are just business, every transaction or registration is beneficial. I'm using CoinDeal but every trader has his own favourite one. There is a broad variety, it gaves you an opportunity to choose the best coins' prices, fees etc. I think that competition is good in that way, you always have a choice.

We also don't want to give 1 exchange a lot of control. If everyone was using binance only, the amount of bitcoins they would hold would be insane, they could literally control the market if they wanted to, a possible hack would also be devastating, it could almost end bitcoin.

Exactly, that's why the exchange market must be diversed and fully compatible with users needs - and right now (for me) the main need is safety. I've been using binance for a long time, but i don't want if i can trust them anymore, and that's why i switched to coindeal too.