You can't say that “why is launching a new crypto exchange.” Not all exchanges are the same, each exchange has its own unique characteristics. and you know, the more alternative ways come, the more competition will increase, the quality of service will increase too. If someone has the ability to serve faithfully, they should be applauded.
Topic: Why make New Crypto Exchanges (Read 920 times)
In general, I cannot agree with you, since the creation of new cryptocurrency exchanges creates competition, which accordingly improves the quality of the provision of services by other exchanges and I consider it normal for the emergence of new cryptocurrency exchanges, because this is healthy competition
Making a new cryptocurrency exchange is a logical idea. but it may not be reliable after scammers scam a lot of people on the stock market recently. we may not be able to compete with big stock markets.
Lately i see many new crypto exchanges / shitcoin exchanges.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
Today crypto world high valuable platform for earning. If you saw binance first starting same like at a new exchange. Today stared exchange give many faculties for customers after time he make change rules for customers. I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
Lately i see many new crypto exchanges / shitcoin exchanges.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
I think it is the opposite, for people like us it doesn't really make a lot of sense to use one of those exchanges when we have several that have a good reputation and that have been in the market for very long time, however this is the same as we see in the market of icos, why do we need thousands of coins when many of them do the same thing? Because there is money to be made, it is that simple, and the same is true for exchanges, there is simply too much money over the table that even if only 1 out of 100 new exchanges succeeds it is still worth the effort for the one that succeeds.I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
and into its owner then that would really be worth of the effort once he had really able to gain users into his platform but it wont really be that simple because getting recognition
or attention isnt something that can be attained so easily.It all depends on the the platform or service itself and with some mix of luck when you do talk about success.
We dont really need lots of them but we cant actually stop for them to pop out this is why as a user then i dont really see the reason why we would tend to make use
of those new service?
The ecosystem of cryptocurrencies is growing, it is natural that new exchange platforms that want to participate in the market are being created. We just have to be careful and not fall for a scam. Everyone has the opportunity if the product they offer meets our needs and with due process.
The challenge is great for these new exchange platforms because we have reputable platforms such as Binance, Bitfinex, Houbi and others that dominate the market.
The challenge is great for these new exchange platforms because we have reputable platforms such as Binance, Bitfinex, Houbi and others that dominate the market.
Lately i see many new crypto exchanges / shitcoin exchanges.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange?
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange?
Establishing a crypto exchange is some kind of business and they wanted a piece of the profit generated in cryptocurrency markets. And people use newly established cryptocurrency maybe to trade coins that is listed on that exchange and is not trading on the larger exchanges. I think using a newly created exchange is not the same as switching since traders can use different exchanges simultaneously.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Well, you can just skip creating a new Crypto Exchange but you can never limit people of what they wanted to do. You are entitled to your own opinion and so they are. If ever you find people creating new exchanges, probably they saw something you didn't see.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
There is no wrong when it comes to personal opinion. Just do what you think is best for you and let others do what is best for them.
Lately i see many new crypto exchanges / shitcoin exchanges.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
I think it is the opposite, for people like us it doesn't really make a lot of sense to use one of those exchanges when we have several that have a good reputation and that have been in the market for very long time, however this is the same as we see in the market of icos, why do we need thousands of coins when many of them do the same thing? Because there is money to be made, it is that simple, and the same is true for exchanges, there is simply too much money over the table that even if only 1 out of 100 new exchanges succeeds it is still worth the effort for the one that succeeds. I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
snip..
you are not wrong with your complaint, it is very real. now exchange is a profitable business, just imagine if there are thousands of transactions created on your exchange then you are in big profit. people who make new exchanges or who try new exchanges (buy/sell transactions) are those who are trying to make a "Profit". In the future, we will see new exchanges continue appearing as well as people continue trying new exchanges, so don't be surprised by this phenomenon..
Do you know Binance is here since 2017 & within this time they have been the top exchange in today’s world and they have acquired a lot of others things regarding crypto. If they thought like you, there would be no exchange namely Binance today.
Still I guess a lot of space is there for new entry and if new exchanges can run with honesty and best service, they will grow bigger certainly.
Still I guess a lot of space is there for new entry and if new exchanges can run with honesty and best service, they will grow bigger certainly.
Exchange business are very profitable once you acquire a certain base of users. I think there is still room for capturing a share of the market and it will always be. The design matters a lot for exchanges. One might choose a new exchange if the fees are smaller or if the funds are insured.
I'd say there are many ways to innovate. IMO Binance is trying to expand their services too much instead of improving the trading functionalities and marketing.
I'd say there are many ways to innovate. IMO Binance is trying to expand their services too much instead of improving the trading functionalities and marketing.
It's all about business and taking advantage of course in cryptocurrency. Not all of the exchanges supports every coins, whether it's a shit coin or not, also they have different prices when it comes to altcoins, that's why traders could choose on which exchange they are going to buy and sell altcoins. The question of yours is like asking that why bother posting here if there's so many people posting already?
I hope you get the logic.
E D I T: Exchanges that doesn't requires KYC will not be shutdown at all. Look at Binance for example
I hope you get the logic.
E D I T: Exchanges that doesn't requires KYC will not be shutdown at all. Look at Binance for example
Nowadays, there are a lot of altcoins born every day, along with a lot of new investors. In my opinion, it is not bad that there are many crypto exchanges. because social development must have competition and what comes after may be better than the first. The developers of their projects incorporate new crypto exchanges in order to motivate investors to go to the trading site and to collect a lot of service fees from those crypto exchanges.
Why study medicine and become a doctor while there are hundreds of thousands of doctors that are very good at what they are doing?
Why become a software engineer and make apps while there are apps with the same functionality exist already?
Why open up a Chinese bistro when there are many?
Why?
Because they can do it and they can still make money of it. That's why.
Good examples, and I am sure we can come up with many other good examples, basically in this world there're a lot of everything, but still people are coming up with new ideas, they are finding ways to do it better than others, more interesting...
The bottom line is that you need to try it in order to find out! Can someone do it or not, can someone make profit or not? We can discuss it, but if someone doesn't try he will never know! And for sure we have many examples of people who succeeded in their plans, and we have even more people who have failed! It's on us to try something, it's on us to come up with an idea, to develop that idea, to cover everything we can, and to work hard to make something great!
You are not wrong though and i clearly understood your point because most new exchanges hardly live up to anything good, so begging the question on why creating new ones, and to add to that, the number of exchanges are much while only few are worthwhile.
But looking at the world today, people will always have ideas and out of all these ideas, some will work, some will not, some will build their idea to help humanity while some will build theirs just to enrich themselves and so on. Therefore, having this in mind and bringing it to the crypto space, we see new projects everyday, and each promises new idea but yet only few are actually good. Also, it is not possible to stop developers from building new exchanges, if not the likes of Uniswap won't be here, even Binance might not have been created, so in essence, anyone is free to bring in their ideas, work on it and so on, while it's left for the community to see something unique in them and invest or not.
But looking at the world today, people will always have ideas and out of all these ideas, some will work, some will not, some will build their idea to help humanity while some will build theirs just to enrich themselves and so on. Therefore, having this in mind and bringing it to the crypto space, we see new projects everyday, and each promises new idea but yet only few are actually good. Also, it is not possible to stop developers from building new exchanges, if not the likes of Uniswap won't be here, even Binance might not have been created, so in essence, anyone is free to bring in their ideas, work on it and so on, while it's left for the community to see something unique in them and invest or not.
Lately i see many new crypto exchanges / shitcoin exchanges.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
Why study medicine and become a doctor while there are hundreds of thousands of doctors that are very good at what they are doing?
Why become a software engineer and make apps while there are apps with the same functionality exist already?
Why open up a Chinese bistro when there are many?
Why?
Because they can do it and they can still make money of it. That's why.
why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange?
many factors can be considered why there are people who switch to new exchanges. some of it may be its availability in the area, convenience to use, new features and etc... Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
not really, an insane Idea can come once you have started your business or in this case crypto exchange. as long as there is a market and it can be profitable it is not a waste of time. it will only be a waste of time, money and effort if you don't properly run your business or you are missing something that other businesses have and you don't.All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
yeah, and should be avoided. 
Lately i see many new crypto exchanges / shitcoin exchanges.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
Some of them are just Making their name so a chance of Having a Big fish victim is there,and also some of them are working together with scam project operator to Make the fake project look legit since there are already exchange that waits their Bogus project.I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
you dont have to work with them,nor Use them because like what you said there are existing legit exchange to use and these newbies are just baiting Victims.
and also Good project usually listed in good exchange,simple logic as that.
Lately i see many new crypto exchanges / shitcoin exchanges.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
To try and make a better one compare to the old and existing ones that we have.I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.
Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.
Am i wrong? Correct me if im wrong, willing to hear all your opinions.
It is same as asking why we need to grow and use new invention or technology.
I think it isn't just for the profit but for a better experience for every trader that is why they are still creating a new one.
It's either they want to compete or just scam people; we demand exchanges that offer ease.
I still remember the new launching exchange called Bitmora in 2017. They actually get huge support here but never get to deploy their website.
End up, never paid their bounty participants, which ruined their reputation.
I guess allocating funds in building exchange should be prioritized, and users will follow.
I still remember the new launching exchange called Bitmora in 2017. They actually get huge support here but never get to deploy their website.
End up, never paid their bounty participants, which ruined their reputation.
I guess allocating funds in building exchange should be prioritized, and users will follow.
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