MoneyNews

Number of crypto-exchanges grows by leaps and bounds

UNITED STATES (OBSERVATORY) –¬†Already this year will be 10 years since the first crypto currency appeared – bitcoin. And if at that time the digital exchange, working with digital currencies, could be counted on the fingers, then to date it has increased many times.

What is noteworthy, it is quite difficult to calculate exactly how many crypto-exchange exchanges are functioning around the world. Different sources provide different information. Thus, CoinMarketCap reports about 208 crypto-instruments, and on other sites this figure is somewhat larger. And this is without taking into account the numerous regional exchanges operating in different countries.

In general, all of the above is added to more than 500 crypto-exchange exchanges. Just such figures lead NewsBitcoin. At the same time, the largest volumes of trade account for only a few of the largest sites, the leaders among them are Binance, BitFlyer and Huobi. If one of them is subjected to hacking similarly infamous Mt Gox, the situation on the market can develop very critically. Of course, such a collapse of the market, as in the case of the mentioned Mt Gox will not, but it will not seem to anybody, that’s for sure.

Among the main criteria that traders are guided by when choosing a trading platform, analysts identify the speed of transactions, the availability of technical support and the level of customer service. In addition, an important factor is the available ways of obtaining coins.

As for the further development of the situation in the crypto-currency market, a lot depends on what will happen to the price of the leading digital currencies. If the rates go up, the number of crypto-exchange exchanges will certainly increase. But if the situation develops in a different way, then the number of trading floors will be reduced.