Topic: Can a new crypto exchange take a place in the market? - page 7. (Read 864 times)
There's a lot of crypto exchanges rising out there every now and then but then very few of them are successful. As I noticed a lot of crypto exchanges platform are conducting ICOs, with the current market competitions I don't believe there will be a big chance for their success.
New exchanges can be made if indeed they have skills in the field, each exchange has a system that is not much different but when a new exchange can fulfill all aspects well in terms of security etc. and having a good promotion too, then maybe the exchange will be fast to become top. When a business becomes top, the developer will continue to take good care of it so that the business is not destroyed and I think every business done will avoid the monopoly to keep their business become the best.
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
Business is neither monopolised nor doomed, just new devs are too greedy and starting with fees like 0.25% - 1% is some hopes to get rich quick.
There is always a place for new crypto exchange - If you offer a low fees and find a good marker maker, you will succeed for sure.
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 will sound pretty good if you got the information on th inside of that development because they are making a highly focused business so that is why they sound amazing. Just like other exchange it also needs some exposure to the masses before it can take place in the market and they have to focus on a single coin and sacrifice so much money on top of that . So it will be as easy as it sounds but good luck to them and i hope i can take part in that wonderful opportunity. Unless your friend has a huge advertising budget he will be wasting his time. There is a ton of competition for exchanges to bring in customers. He will have to go against all the established giants and it will be an uphill battle to say the least.
Mostly true...there is still room for anonymous and decentralized exchanges to still make a dent in different markets.
There are a few good options available but nobody is the clear winner. Anonymous exchanges for bitcoin will always be popular within crypto.
Deisik you are legendary member maybe you remember the times when this numbers were much smaller. Can you remember which exchanges were popular in 2015 and earlier?
I was actively trading back in the day, so it is not a hard question for me to answer. Bitfinex was the most popular exchange back in 2015. I can't say with certainty about now, but it is still one of the top exchanges out there. And I like their approach to margin trading as it is pretty simple and easy to understand (unlike what they do at Bitmex), though I don't quite like them wrongfully liquidating open margin positions as it actually happened to me once
But they admitted being wrong and even paid back the expenses which I suffered due to their mistake
Creating a platform is nice. But it still needs to be advertised. And if you plan to attract a large audience, you will need a small budget for this. Otherwise, the project will simply close.
It all depends on how attractive this exchange will be to users.I know quite a lot of good exchanges in terms of good functionality and security, but they have very small sales volumes.Now such a situation on the market that any new exchange is unlikely to surprise anyone, but you should still try.
Without mincing words,its not so easy to show up in the market and start making waves immediately,you will have to put a lot of things into consideration and make wonderfuly thought out plans,and even at that you'll have to be patient as it'll take you quite a long time to climb up the ladder.
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
That depends on a lot of factors
If we assume that the exchange in question will be secure and reliable, then its success will be determined by its feature set, i.e. what it offers to traders. For example, I need margin trading, and only a few exchanges offer this option. If it is done properly and without bugs (like Bitfinex wrongfully closing margin positions), then I for one will be definitely interested. But it takes a lot of expertise in the field (probably, decades of experience) to create an exchange which will be able to compete with leading ones like already mentioned Bitfinex
Crypto exchange is the market where you buy and sell crypto currencies. When you open CMC site in upper right corner you can see how many crypto currencies there are and how many markets for this crypto currencies exist: Cryptocurrencies: 2105 • Markets: 15757 •
Deisik you are legendary member maybe you remember the times when this numbers were much smaller. Can you remember which exchanges were popular in 2015 and earlier? Now many names are different, and in 5 years we can see many new exchanges on top, those exchanges are being developed as we speak.
Crypto is special for that, every person have an opportunity to try to make something. Anyone can try to create secured and reliable exchange, with good and new offers, to have nice promotions for supporters, to work on marketing. Anyone is free to try, but not everyone will succeed, cause success depends from many factors.
It isn’t easy for everything start new, there are many exchanges out there and it would be a big competition between exchanges. It take good time to set up an exchange platform, and I think a high standard security is very important, if you can make sure the exchange have good security level, low fee and also good customers service, I think after few years it will be success. It is similar like other business, it take time, money to set up everything.
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
That depends on a lot of factors
If we assume that the exchange in question will be secure and reliable, then its success will be determined by its feature set, i.e. what it offers to traders. For example, I need margin trading, and only a few exchanges offer this option. If it is done properly and without bugs (like Bitfinex wrongfully closing margin positions), then I for one will be definitely interested. But it takes a lot of expertise in the field (probably, decades of experience) to create an exchange which will be able to compete with leading ones like already mentioned Bitfinex
Right now the market conditions seem to be very bad to launch a new crypto exchange. All the existing exchanges are suffering from declining volumes of traded coins and tokens. That means less fees to cover running costs while these costs for employees etc. stay at a much higher level.
In the end of 2017 / begin of the new year so many new exchanges were launched, lacking in security, experience and other general things. I think exchanges are similar to most shitcoins: only the big ones will stay and those who are not able to deal with the bear market or occuring hacks will be gone long-term.
A new exchange needs to have a very good concept to get costomers from existing exchanges and it's always a barrier to verify at a new exchange instead of staying at the old one.
There are just too many exchanges out there...
In the end of 2017 / begin of the new year so many new exchanges were launched, lacking in security, experience and other general things. I think exchanges are similar to most shitcoins: only the big ones will stay and those who are not able to deal with the bear market or occuring hacks will be gone long-term.
A new exchange needs to have a very good concept to get costomers from existing exchanges and it's always a barrier to verify at a new exchange instead of staying at the old one.
There are just too many exchanges out there...
There is always space in any market for new entrants, its possible to break into the market, but you have to have a well laid down plan and a means to achieving that.
Starting an exchange would require funds, quailty website devs and marketing managers.
Starting an exchange would require funds, quailty website devs and marketing managers.
Unless your friend has a huge advertising budget he will be wasting his time. There is a ton of competition for exchanges to bring in customers. He will have to go against all the established giants and it will be an uphill battle to say the least.
Platforms can be created and developed, and people will be supporting such platforms if they know how to operate and know how to tend to the needs of the community, and perhaps some extra suggestions might take the cake as well. There aren't any monopoly on exchanges as people's preference will still matter in the end. Any exchanges can get big depending on how they market and offer themselves to the public, so if the exchange you're referring to offered something new, something innovative and something that people will like, who knows, maybe it's the next big thing?
Would you mind giving an opinion of yours about one the decision ther're making right now?
Yes,it can.Binance is also comparitively new with other exchanges but it is now one of the top traded exchange just because of its feature and legitimacy SO if your friend want to create an exchange then they need to keep working on developing its security areas to keep the funds safe and also the advertisement will play a big part of getting success with every crypto projects.
Platforms can be created and developed, and people will be supporting such platforms if they know how to operate and know how to tend to the needs of the community, and perhaps some extra suggestions might take the cake as well. There aren't any monopoly on exchanges as people's preference will still matter in the end. Any exchanges can get big depending on how they market and offer themselves to the public, so if the exchange you're referring to offered something new, something innovative and something that people will like, who knows, maybe it's the next big thing?
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
I think this is not a good time to develop a trading floor in the best way. because big exchanges now have a lot of market share and not too much for new exchanges.But if you want to develop it effectively, take a 3% stake in the company to develop your trading platform project for everyone in the world to know. If your trading platform is good enough and there are many large partners, your trading floor will have a good future.
Thay are also thinking about their tokenomics and are seeking for feedback. They have different approaches in mind and haven't made a choice yet. Would you mind sharing your opinion if i describe it briefly?
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
I think this is not a good time to develop a trading floor in the best way. because big exchanges now have a lot of market share and not too much for new exchanges.But if you want to develop it effectively, take a 3% stake in the company to develop your trading platform project for everyone in the world to know. If your trading platform is good enough and there are many large partners, your trading floor will have a good future.
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