New exchange needs a a good reputation from some people who have an influence on cryptocurrency in particular. It is not easy to convince someone or many traders to trust a new exchange including the exchange quoted by the OP. Moreover, exchange cryptocurrency is very prone to fraud, which will make everyone less confident about the new exchange.
In other hand, I agree to someone who says a new exchange needs a promotion. Either through this forum or with social media, but the most influential to promote their new exchange every developer can use this forum by using a siganature campaign that is paid for with bitcoin, at least by using bitcoins each participant can immediately trade on the trading platform every time he gets paid a week.
Topic: Can a new crypto exchange take a place in the market? - page 5. (Read 855 times)
It always depends on the marketing budget and the marketing people. You can start anything in the world as long as you have a marketing budget and marketing expert. This is not just strict to crypto exchange, as long as you have the money for it you can start a mobile phone business and its unlikely that you will surpass Apple or Samsung you can still make yourself a place in the market.
It will take a lot of money and a lot of people and no one with startup mind can reach there at all but it can be done with billions of dollars and hundreds of marketing experts. Same applies with crypto exchange, if you have a lot of money and a lot of marketing agents then you can build a crypto exchange and heavily advertise it every single place on earth related to crypto and get it to a good level.
It will take a lot of money and a lot of people and no one with startup mind can reach there at all but it can be done with billions of dollars and hundreds of marketing experts. Same applies with crypto exchange, if you have a lot of money and a lot of marketing agents then you can build a crypto exchange and heavily advertise it every single place on earth related to crypto and get it to a good level.
Why not? Binance is a perfect example of such exchange. It has started in a garage and now this is the top volume crypto exchange. But also there are many scam exchanges like YoBit, LaToken, HitBTC, KuCoin has fake team... Even on Bittrex were scam accidents...
Here are our articles about some exchanges
https://shitcoinoffering.com/hitbtc-exchange-mcafee-tolls/
https://shitcoinoffering.com/kucoin-crouching-token-hidden-team/
Here are our articles about some exchanges
https://shitcoinoffering.com/hitbtc-exchange-mcafee-tolls/
https://shitcoinoffering.com/kucoin-crouching-token-hidden-team/
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Don`t you see that happening everyday? I`m here for some time, in crypto-space, and almost every week I hear about new exchange. Maybe
exchange isn`t new, but I hear for them for the first time. There are big ones, but still there are many new ones.
They are appearing every week, centralized, decentralized, now we are able to choose where we wish to trade with crypto-currencies. I`m
learning to use decentralized crypto-exchanges, after Binance hurt my feelings.
What happened with Binance?
-Snip-
Don`t you see that happening everyday? I`m here for some time, in crypto-space, and almost every week I hear about new exchange. Maybe
exchange isn`t new, but I hear for them for the first time. There are big ones, but still there are many new ones.
They are appearing every week, centralized, decentralized, now we are able to choose where we wish to trade with crypto-currencies. I`m
learning to use decentralized crypto-exchanges, after Binance hurt my feelings.
A week ago i've met a person, who's working on a new exchange. They've been developing it for a couple of yers now and, from his words, it seemed pretty cool. I can't say for sure whether i think it's a legit idea or not. So, Is it possible for a new exchange to make it to the top or is it already monopolized and new projects and busineses are doomed in the whole industry? I've been trading for a short period of time and i haven't noticed huge defferencies in exchanges
P.S. Name's Nominex if anyone is interested
EDIT:
As far as i know, they are launching soon and the only choice left is the tokenomics. I've given them my opinion, but i beilive that the uderstading lies on a lot of opinions of daily crypto users and traders, so i've decided to give it a shot and ask you guys. The token itself will be used to have a discount on fees and, maybe, something else
Here are the options that they have:
1. They are giving out tokens as a return from paying fees, the price of the token is set by the company and the price is changing (from low to high) with each distributing phase every 2 months and capping at 5 months. The token will be listed immediatly at the exchange.
2. Token is listed immidiately and users are getting tokens as a return from paying fees, but the amount is determined by the tokens market price. The amount of tokens may be limited per day (not for every single person, but for the whole exchange) and they are given out proportionally (like the EOS ico) to the trade volume. ( as i understand this, for example, you are trading there right after launch and since there're few users, your trade volume is 30% of the whole day trading volume on this exchange, so you get 30% of all tokens for that day). And they will just devide the whole amount of tokens by 365 and will be giving out tokens for a whole year.
What do you think about these options? Wich one sounds better or can be way better with addition of something\changes?
Crypto exchanges are playing a most important role in cryptocurrency development because when people don't exchange and we invest in cryptocurrency then the development will not be going to the upper stage anytime so the decision making for the changes while it was new it will be more patients and take some moment to invest induced a changes properly. P.S. Name's Nominex if anyone is interested
EDIT:
As far as i know, they are launching soon and the only choice left is the tokenomics. I've given them my opinion, but i beilive that the uderstading lies on a lot of opinions of daily crypto users and traders, so i've decided to give it a shot and ask you guys. The token itself will be used to have a discount on fees and, maybe, something else
Here are the options that they have:
1. They are giving out tokens as a return from paying fees, the price of the token is set by the company and the price is changing (from low to high) with each distributing phase every 2 months and capping at 5 months. The token will be listed immediatly at the exchange.
2. Token is listed immidiately and users are getting tokens as a return from paying fees, but the amount is determined by the tokens market price. The amount of tokens may be limited per day (not for every single person, but for the whole exchange) and they are given out proportionally (like the EOS ico) to the trade volume. ( as i understand this, for example, you are trading there right after launch and since there're few users, your trade volume is 30% of the whole day trading volume on this exchange, so you get 30% of all tokens for that day). And they will just devide the whole amount of tokens by 365 and will be giving out tokens for a whole year.
What do you think about these options? Wich one sounds better or can be way better with addition of something\changes?
A week ago i've met a person, who's working on a new exchange. They've been developing it for a couple of yers now and, from his words, it seemed pretty cool. I can't say for sure whether i think it's a legit idea or not. So, Is it possible for a new exchange to make it to the top or is it already monopolized and new projects and busineses are doomed in the whole industry? I've been trading for a short period of time and i haven't noticed huge defferencies in exchanges
P.S. Name's Nominex if anyone is interested
EDIT:
As far as i know, they are launching soon and the only choice left is the tokenomics. I've given them my opinion, but i beilive that the uderstading lies on a lot of opinions of daily crypto users and traders, so i've decided to give it a shot and ask you guys. The token itself will be used to have a discount on fees and, maybe, something else
Here are the options that they have:
1. They are giving out tokens as a return from paying fees, the price of the token is set by the company and the price is changing (from low to high) with each distributing phase every 2 months and capping at 5 months. The token will be listed immediatly at the exchange.
2. Token is listed immidiately and users are getting tokens as a return from paying fees, but the amount is determined by the tokens market price. The amount of tokens may be limited per day (not for every single person, but for the whole exchange) and they are given out proportionally (like the EOS ico) to the trade volume. ( as i understand this, for example, you are trading there right after launch and since there're few users, your trade volume is 30% of the whole day trading volume on this exchange, so you get 30% of all tokens for that day). And they will just devide the whole amount of tokens by 365 and will be giving out tokens for a whole year.
What do you think about these options? Wich one sounds better or can be way better with addition of something\changes?
the new exchanges came to this market will always be acceptable by the previous users Crypto market but the most important thing is when a new Crypto is using for exchange it will need more trustability and be a good exchange for long time. P.S. Name's Nominex if anyone is interested
EDIT:
As far as i know, they are launching soon and the only choice left is the tokenomics. I've given them my opinion, but i beilive that the uderstading lies on a lot of opinions of daily crypto users and traders, so i've decided to give it a shot and ask you guys. The token itself will be used to have a discount on fees and, maybe, something else
Here are the options that they have:
1. They are giving out tokens as a return from paying fees, the price of the token is set by the company and the price is changing (from low to high) with each distributing phase every 2 months and capping at 5 months. The token will be listed immediatly at the exchange.
2. Token is listed immidiately and users are getting tokens as a return from paying fees, but the amount is determined by the tokens market price. The amount of tokens may be limited per day (not for every single person, but for the whole exchange) and they are given out proportionally (like the EOS ico) to the trade volume. ( as i understand this, for example, you are trading there right after launch and since there're few users, your trade volume is 30% of the whole day trading volume on this exchange, so you get 30% of all tokens for that day). And they will just devide the whole amount of tokens by 365 and will be giving out tokens for a whole year.
What do you think about these options? Wich one sounds better or can be way better with addition of something\changes?
As the user base keeps on increasing, the need for exchanges too will be peaking high. New cryptocurrency exchanges suddenly won't get into the top places. It needs to follow a long process and give assurance on the security of the holdings. Beyond that it takes time to list large number of crypto pairs to the trading platform. Once after this it needs to contribute good to the market circulation. These major factors need to be fulfilled initially.
They ar eplanning on starting with a lot of pairs and will keep adding them
As the user base keeps on increasing, the need for exchanges too will be peaking high. New cryptocurrency exchanges suddenly won't get into the top places. It needs to follow a long process and give assurance on the security of the holdings. Beyond that it takes time to list large number of crypto pairs to the trading platform. Once after this it needs to contribute good to the market circulation. These major factors need to be fulfilled initially.
Will be but depend how serious they listed many new coin with higher volume, by the way at this year many new market have success because they can manage with good and potential altcoin , have higher volume for transaction.
A week ago i've met a person, who's working on a new exchange. They've been developing it for a couple of yers now and, from his words, it seemed pretty cool. I can't say for sure whether i think it's a legit idea or not. So, Is it possible for a new exchange to make it to the top or is it already monopolized and new projects and busineses are doomed in the whole industry? I've been trading for a short period of time and i haven't noticed huge defferencies in exchanges
The entire crypto space does not belong to any single body and cannot be monopolized by one exchange. There are always room for good projects with ready products to skyrocket. The reason behind the lagging attitude experienced by most of these new exchanges is that, most of them do not have a unique feature but just copying the features and functions of the old exchanges. Remember, it takes uniqueness to draw the attention of people from an existing trend to a new one.
New exchanges contact me all the time to provide liquidity to their books. They are doing great.
https://firststreet.io
https://firststreet.io
It will take time for new exchanges to be recognised and trusted by traders, there are numerous of new exchanges keep on coming out but most of the traders still prefer the old and trusted exchanges, there are a lot of cases where exchanges being hacked, so it is a bit difficult to gain trust for now, for the record there are differences between exchanges, it can be from the coin that can be trade and the percentage transaction fee
A week ago i've met a person, who's working on a new exchange. They've been developing it for a couple of yers now and, from his words, it seemed pretty cool. I can't say for sure whether i think it's a legit idea or not. So, Is it possible for a new exchange to make it to the top or is it already monopolized and new projects and busineses are doomed in the whole industry? I've been trading for a short period of time and i haven't noticed huge defferencies in exchanges
as traders we have to be careful with all new things, especially in crypto trading, because a lot of projects in the crypto market can contain elements of gambling or fraud, because many actors use new crypto as a place to gamble, for example they speculate to spend a little to be able to make a lot of profit, many of them no longer care about the quality of the new crypto. so our accuracy can save us. 
A week ago i've met a person, who's working on a new exchange. They've been developing it for a couple of yers now and, from his words, it seemed pretty cool. I can't say for sure whether i think it's a legit idea or not. So, Is it possible for a new exchange to make it to the top or is it already monopolized and new projects and busineses are doomed in the whole industry? I've been trading for a short period of time and i haven't noticed huge defferencies in exchanges
Some things might be said by people that it would be difficult for the project development and development, because it is seen from the crypto market that the declining value makes the holders and investors less interested. If you ask my opinion it depends on the concept of the platform, I mean if their platform offers a unique and good concept so that it attracts traders, then market conditions will have no effect. Now there are many different exchanges and it is very difficult to compete with them. In order for the exchange to become popular, it needs to offer something new, unusual and useful to users of the exchange in order to stand out among its competitors. Otherwise, there is no point in launching another crypto exchange, which will be exactly the same as a hundred other similar exchanges.
Why is it there is a lot of exchanges when we do have reputable that already exist in the first place?Some of these new exchanges can't be trusted because of a higher tendency that they might steal our cryptos in the future while making an exit scam strategy in the future. Binance is one of the best examples of a reputable exchange which is active when there is a mess happening. Competitors might want to look the best examples of these reputable exchanges to make a shot in the market.
It will be difficult, after all, to become a trading platform now it will be increasingly difficult since the many regulations regarding crypto and also whether the market is liquid or not because for some people it could be a critical things.
It depends on how much this trading platform is good enough to compete with others. If it offers many advantages and new srvices people may consider to use this platform and they give a try on it. But if it doesn't have a new thind and it is just a copy of existing exchangers, it will not be attractive to investors and is doomed to be forgotten.
A week ago i've met a person, who's working on a new exchange. They've been developing it for a couple of yers now and, from his words, it seemed pretty cool. I can't say for sure whether i think it's a legit idea or not. So, Is it possible for a new exchange to make it to the top or is it already monopolized and new projects and busineses are doomed in the whole industry? I've been trading for a short period of time and i haven't noticed huge defferencies in exchanges
It is very possible for a new exchange to make it to the top. I cryptocurrencies market we still have many lump hole and if a developer can take the advantage of that there is no way they will not make their exchange to the top in the market.
There are new ones being developed and released all the time. Xera exchange has reached the softcap, whereas elepig failed to get any investment. It all depends on the quality of the exchange and marketing ability
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