We are seeing more and more exchanges nowadays. Is it beneficial to the community if we have more of these? What do you think are the benefits and/or the negative impact on having too many exchanges?
Majority of the new exchanges are not beneficial to the market, there are lots of those exchange that support scam tokens to be listed on their exchange.
Almost all of those new exchanges are involved in fake volume manipulations, giving out false volume so as to deceive investors in investing on their exchange, I know of some certain new trading exchange that had fold up due to low trading activities on their exchange
Etherdelta and Forkdelta is the best definition for this. Lots of shitcoins are on their site, all of the airdrops of not that good coins are all there, and yes, their system sometimes gives the wrong information about a certain coin, so basically you don't know if the profits you are seeing in your portfolio on their site is true. I always trade on the trusted ones like Hitbtc, binance, livecoin, and Idex, I only trade on exchangers that is new to me when I don't have a choice because they are the only one who have that certain coin for example.
This etherdelta was good when its first lunch i earn many eth backthen From free airdrops. not that bad exchange before but not now, more of the token there now has no value and no buy orders. Idex was good becuase they can delist shit token when the token has no volume.
There are many new exchange created and the only porpuse is to make profit from traders grab some listing fees from token owner but more of them will colapse.