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.
There is no limit how many exchanges account you want. The problem is securing them all properly to avoid hacking. Imagine having 10 or even more accounts, each one of them you will need to activate their 2fa and keep their private keys in a safe place. Another factor is most of the new exchanges nowadays requires kyc first to withdraw. I am not willing to give my private info to a newly open website. You don't know if they are gonna sell it in the black market or not.