The number of cryptocurrency exchanges is growing steadily. Than it is fraught?

The number of cryptocurrency exchanges is growing steadily. Than it is fraught?

In the early days of Bitcoin, the number of cryptocurrency exchanges could be counted on the fingers of two hands: Bitstamp, Mt.Gox, Vircurex, Btc-e, p2p exchange Localbitcoins and a few others. Today the market situation has changed dramatically. The modern investor the choice is huge — over 500 exchanges! And every week their number increases.

To calculate the exact amount of cryptocurrency exchanges in the world was a daunting task. In the list of Coinmarketcap their 208, on other websites presents dozens. In addition, there are hundreds of regional exchanges to which access is restricted to residents of certain countries or continents. In Canada, for example, that Einstein Exchange in Africa — Golix, in Australia and Blockbid ACX and ACX, and soon Nauticus.

None of these platforms are not included in the listings of cryptocurrency sites. According to the latest NewsBitcoin the number of cryptocurrency exchanges have already exceeded 500.

There was a time when the Bitcoin ecosystem was served by only one exchange —Mt Gox. The collapse of this exchange collapses the cryptocurrency market. Today is such a blow to the market to endure would be much easier, thanks to the hundreds of other exchanges. Nevertheless, you should look where the bulk of the trading volume.

In the last 24 hours more than half of the total volume of trading digital currencies, you had three exchanges, among which 18% went to Binance.If any of these exchanges will be hacked or will suspend its work, it will not lead to such a collapse of the market, as in the case of Mt Gox, but still will affect him.

The rapid growth of Binance, which evolved into a billion-dollar platform in just 12 months, has inspired many exchanges next generation, for example, Coinlion and Legolas. Each new member has their own “trick”. In the case of a platform Ezexchange is to focus on customer service, which includes support 24/7. Exchange even offers video tutorials and communication with investors on the phone.

Oliver Isaacs, consultant in matters of cryptocurrency and blockchain and investor who has worked with a number of new exchanges.

Oliver highlighted the main criteria of their work:

“Important customer service / technical support, as well as the speed at which transactions are executed. The importance of getting their coins and currency exchange, especially for arbitrage trader”.

Considering the facts that in the cryptocurrency industry continue to pour in money, and the ICO sector remains active, increasing the number of cryptocurrency exchanges is inevitable. However, if in the world of cryptocurrencies will start a severe winter, many exchanges may turn into Ghost towns, and only the dominant players will be able to maintain liquidity and ultimately survive the storm.

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