Let us compare the older cryptocurrency exchange platforms like (Coinbase, Bitfinex, Bitmex, Kraken, Gemini, Poloniex, Bittrex, Gate.io, and Huobi) to the new ones like (Bitforex, Indodax, Coinbe , Hotbit , DigiFinex). Why are the new crypto exchange platforms struggling to hit the lime light?. Binance is about a year old and has made much impact in the cryptospace, why can’t other cryptocurrency exchange start-ups follow suit?
1. Lack of funds
2. The market has already been saturated
3. No original ideas
The big exchange platforms are gaining more grounds everywhere, this making the space more competitive. Nevertheless, some start-ups are really making much sense and are impacting immensely to the blockchain and cryptocurrency space. For any startup to pave through the crowd, it's idea and technology must be very solid.
One of the start-ups to look out for is BLOCKCHAIN BOARD OF DERIVATIVES, the platform combines both centralized and decentralized features of Blockchain to stay aloof the crowd in the space. This is a all-in-one trading platform, that is going to be welcomed when it is launched.
At BBOD users control the destiny of their own funds. BBOD runs a non-custodial smart contract wallet system where all account balances are held by a decentralised smart contract on the Ethereum blockchain. Centralised entities are too often hacked, BBOD adopts hybrid approach to decentralised safety combined with a centralised trading engine ensures the security of your funds whilst maintaining blazing fast transactions speeds, thereby giving the platform an edge over other exchange start-ups.
This is not the only Crypto exchange that is making impact, there are several others who make making the revolution worthwhile, so Crypto exchanges are far from dead.
And most times these new exchanges are scam, so nobody wants to take that risk of losing their money out of carelessness while they should have remained with the ones they trusted. I also don’t see the need for having so many exchanges on the platform while all are the same, although it’s all about competition.