Bitcoin Forum

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.

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.

We cant deny that exchange platforms are lots already on this market or in short its a bit saturated and we dont need lots of exchange platforms but
you cant really stop those people who do tend to create new one.If you do consider on how big you would able to profit once you do make such business
and when it boom up then you would really be a rich guy in no time.Just like on what happened in Binance.It did start from nowhere and then later
on had been recognized by the community.If they do create something new then try to compete with the best and do the best service out there.
You wouldnt know the result if you wouldnt try.

Tell that to Changpeng Zhao, CEO of Binance. Even though it might seem to some that  Binance is around for many years considering how popular it is at the moment, the fact is that CZ launched Binance a bit more than 3 years ago, which you will agree is not long period of time. Who would have thought  3 years ago that some new exchange like Binance will be way more popular than some of the leading exchanges back then like Bittrex and Kraken.

I do agree that 99% of the new exchanges are crap  and don;t bring absolutely anything new, but that's how it goes. One of those new ones will eventually make it and offer us better service. More competition is a good thing for us customers, and will make those at the top to work in order to keep that position.

I mean theres a much higher demand for doctors then crypto exchanges.
Becoming a doctor youll most probably find a job because everyone needs doctors, and most of the time you can only go to a doctor in your local area, where the "supply" of doctors can be lower then the demand therefore leaving you space. On the internet there is almost no localized limits and the supply is much much much higher then what we need, especially if you dont bring something to the table.

Read my last line.

They can still make money.

I know there is a need for doctors, but it looks like new exchanges make money too.

Why create a new altcoin? Because it costs nothing and some of them become quite big in time.

tldr; if there is money to be made, it will be made.

Same with the online casinos...

I think you have to ask some business owner or a crypto exchange owner if you can't fathom the idea of how businesses work. You see, if a certain places is having a business that is trendy to the people then there are chances that other business minded people will copy the business idea because it's on the trend. And you know what makes the trend so trendy? It's the demand of the people.

So if you are a business minded person or want to start a business, what would you do?

Because that is business where it can earn money to them. In fact, sometimes, we also like new exchanges (especially local exchanges) that give much easier than the previous one. And I don't mind if the exchanges are really good enough, providing lower fees, easy trading features, and also of course about trust. As long as it is not a scam and it can really give better exchanges, why not? I believe that every new exchange must have thei9r own positive sides in order to be able to attract users. however, if it is only about that kind of usual exchange without any better features and benefits, I think it will be only ended as shit exchanges.
That is why this is our case, should be more and more careful when going to use a new exchange, not only about the hype of the exchange but really how we analyze the exchange carefully.

That's right. A big exchange comes from zero also, and they are also ever a new exchange at that time. Moreover, right now, Binance also supports some new exchanges in several countries, it makes sense.

of course, put up your own business also. however, setting up a business is not for all people. theres more than meets the eyes here. building a legit business has a lot of paperworks to accomplish. but those fly-by-night businessman will not bother looking at paperworks.
competition is good in the market. the more you have options, the better. because if they are competing with each other, the tendency of offering quality services will be there. so up to the client how he will choose from them
so im ok with these sprouting new exchanges, in the end we will know which ones are worth dealing with

I see your point but there's a reason why new exchange sites keep coming up because the purpose of those new exchange sites to catch the hype.

You're right about this. That makes sense if you have a trusted exchange site who can provide all of your needs and why do you need to use a new one? that should be the context. Crypto project is about who can survive or die.

Remember binance and any other new platforms were also starting from nothing. It's not wrong at all but that's all your choice.

Exchanges are created and abandoned. Scammers use exchange to steal money from investors. Because of this, you have to be cautious with new exchanges and more cautious if they are very easily to accept listing new coins. Some shit exchanges are very easily to list new coins that are shit coins. No value coins and no value exchanges cooperate together to steal money from investors.

I lost my money on a scam exchange like that when I bought some shit Cryptonote coins and months later the team exited and shut down the exchange. No time frame to withdraw funds.

Sometimes we are forced to used that shitty exchange when the tokens we buy got listed on them. So we don't have a choice, unless we have to wait for a long time before the project itself listed in on such exchanges such as Binance and other top tier exchanges.

But we don't know the nature of a new exchange though, Binance in 2017 was fairly new but they became big and now I would say the golden started for crypto exchanges. If some new exchanges exited or became a shitty exchange so be it, move on and try others.

New exchanges just come and go they only sweeten from the start to attract more investors and buy some tokens there but sometimes after all a lot of use there are often problems where for some reason I never use a new exchange because it's very risky and I don't want it to happen both times the same fall.

I have noticed that most of the new exchanges end in a scam and nothing develops because their intention is only to deceive not to develop, therefore I am more of leaving than having to keep buying there.

I would say we don't have enough exchanges, or at least decent exchanges, even until today. The market is still relatively small but the exchanges are also as limited. There's so much room to grow in terms of services provided by exchanges. Many times have we heard of people complaining and nagging against the kind of services even from the top exchanges such as Binance and Coinbase. If this happens constantly, then perhaps there is still a thousand reasons for any developer able enough to create something to compete.

The controversial Bitfinex which was hacked with the equivalent of at least $2 billion in today's Bitcoin price is still at the top 5 as per CMC with $1.5 billion in volume. The old Bittrex and Poloniex which were also peppered with customer complaints are still enjoying hundreds of billions of USD in daily volume. Bithumb was raided at least a couple of times in less than a week and has been facing lawsuit and yet it is still enjoying more than a billion of trading volume. Even the more controversial HitBTC has almost a couple of billions in daily volume. And who hasn't heard of the shittiest of all shit exchanges, YoBit? Well, it is still very much alive and kicking after all these years of scamming and still has tens of millions in volume.

Incidentally, just yesterday I withdrew my Bitcoin from another unknown exchange, Beaxy, with a terribly high withdrawal fee of 0.00075BTC. But I still wonder why people are not ditching it altogether. It still has a volume of no less than a couple of millions daily. Now, if you tell me that all these figures are fake volumes, then that is perhaps another reason for a developer to come up with at least an honest one.

Every shit exchange operating today is enough reason for developers to create a better exchange.

If it wasn't profitable, people wouldn't be making them. Perhaps there is a demand for places for trading altcoins with minimal regulations - this demand could come from traders or from the people behind altcoins - they are always ready to pay exchanges for listing their coin. You are right that these smaller exchange won't be able to truly compete with giants like Coinbase, but they don't need to - as long as they are making profits with any means possible, they will have a reason to exist.

It's all about making money. People know how profitable in crypto space and making a crypto exchange is also their way to earn money. It's up to you to choose which crypto exchange you want to trade or use.
Every people want to earn, putting a crypto exchange is their way , So you can find a work suitable for you to earn if you don't like to work in crypto exchange.

Everyone has equal opportunity to bring change to the system, but very few get successful.

As I am personally belonging the crypto industry since its born, many exchanges came, many survive, many gone away.

But still, many new exchanges are coming with many new features. And trying to prove or offer new services to their users.

Always change should be in the right direction which gives more comfort, mobility, and security with trust.

Better UI and UX including AI and ML can boost user accessibility, usability, and engagement.

Adoption of new technologies with new features can also enhance the userbase.

Currently, the world is not just welcoming decentralized economics but also engaging with decentralized social media platforms.

I wanted to disagree but given that bitcoin is decentralized, I think that it is fair to say that the analogy answers the question. There is only one problem that I can see here, is that the given analogy is not businesses which means that a competition will not be applied and we could be oversaturated with exchanges that the users will have a hard time choosing which one is to use, I am not saying that it is bad, it is in fact more beneficial because as more exchanges pops up, the better for the customers because they have options and exchanges will do anything to keep their customers.

if im the one that can make a rule i dont want a new exchange exist anymore .

we have tons of here already and old exchange are still there and seem to have no plan to shutdown thier business , it would be fine if older and rusty exchange wont operate because that will make this enevironment clean and people can foccus on mainstream exchanges only .

the tendency of newer exchange is that the scam can also grow but what can we do ? nothing , we cant stop them .

There's no denying that not all crypto exchanges are good. However, the current number of crypto exchanges are not enough to serve the world population. A very insignificant percentage of world population knows about bitcoin and an even insignificant percentage of them use bitcoin for trading and other activities. So the current number of exchanges are not enough to serve all. Bitcoin and other cryptocurrencies are gaining momentum slowly and the adoption is gradually increasing. Binance is definitely a good exchange and because of their services, they have quickly move to the number one spot among the competition. But that doesn't mean that the need of a new exchange has finished.

Every country has a different set of rules and regulations. As the bitcoin adoption grows, we will soon need country specific exchanges to cater the local community in their local currency. In this process, many exchanges will fail for different reasons. But if that failure comes in the way of new innovation, a technology will never grow. I would say, the more competition we have in crypto market, it will only be beneficial for the commoners like us.

as long as it is seen as very profitable, in all sectors of business even though it already exists and is considered very good, people will try to make it too. because they believe that what they do will be better with renewable facilities and lower costs.

Likewise with exchanges, because this is seen as a very promising job and they hope to get opportunities by making improvements to existing ones that are easier or anything that can attract people to move to their place.

The logical thing will be done by someone who might have worked in that sector and could make changes and try to profit, especially if someone wants to fund what he will do. they think there is still a chance to do that.

Well said, new exchanges used to provide with varied features.  When we get into the usage of cryptocurrencies, exchanges play a very big role. It is good to go with reputed cryptocurrency exchanges than the new ones. Right now the need for exchanges gets limited within the cryptospace. Maybe it'll get transition from an exchange to a banking service provider in the future.

The most appropriate reason is to run a business and earn money. Not only on crypto exchanges. any business that we have seen before our eyes are already existing. developers and business owners just take advantage of what's trending right now. If they see an opportunity to run a crypto exchange business, then they will.

I am sure that is because they want to make money from the exchanges. And we can see that the exchanges really make that money. They can get additional money from listing the new coins/tokens in their exchanges. So that makes people who have money want to make a new crypto exchange because they see the potential to make money will be bigger. But we will see if their exchange can survive or compete with the other exchanges or it will only survive in the short term and will scam people just to get their money.

You have very strange thoughts. Without the creation of new cryptocurrency exchanges, there will be monopolists and progress will stop. You will have fewer ways to buy and trade cryptocurrency.

Crypto exchange market is business when you have a lot of investor on your exchange will make many coin wanna list in your exchange, but make crypto exchange is the faster way how to scam many people, you can check information how many exchange have been scam and run away many investor assets, from cryptopia until BCNEX are the best scammer, first time make exchange and have many coin listing and they look trusted at the early, but when have many investor trusted with their coin they close and make decision exactly have hacked and their account stole, but exactly they make drama after run away much investor fund. other way why I hate with exchange because listing shit coin on their exchange, just care with listing fees only without have responsibility with coin keep higher price.

many new exchanges were made for speculation and for pump and dump practices. The new exchange has no credibility to trust as there will be several obstacles to face when making a withdrawal. I often find new exchanges have issues regarding unilaterally withdrawing and freezing accounts.

Better to use a highly credible and recommended Exchange like Binance. Even though implementing KYC will not be a problem when the Exchange is able to protect its customers.

Unfortunately new exchange have turned to quick money grab tool, the founders are not very interested in making a name or trying to create a standard product that will satisfy consumers, most of this newly launched exchanges all have hidden agenda, they are part of the problem new projects are facing on a daily basis, at the end they will milk and wreck that project, it is very important to stay away as possible as we can.

That is the ups and the lows in all aspects of human and business life, even though we have several exchanges that already doing great there is still room for new development and at times it will not go well. I have known an exchange that have finished all it development but are currently tie down due to AML. The fact is there are still going to be lots of them in the future as the crypto space keep growing new exchanges will pop up. Just be carful before buying into any of their project because some of them have their token sold to users who will never have the opportunity to trade them.

If somebody has means and desire to make a new exchange why not, but to make it work it needs a lot of money and effort and like you mentioned "some truly insane idea" to stand out from hunderds of them. I personally wouldn't go in such business now.

Yeah right, that also makes sense since crypto exchanges just come and go we haven't seen any reputable enough exchanges that stands to last just like Binance exchange. Most of these exchanges existing only to scam people because they think that's the easiest way to earn their crypto through exchanges. Those exchanges who has poor customer support or slow in assessing their clients are the ones that most likely won't last long because sooner or later more and more customers are going to abandon them in the future.

It as equal to asking why were over 6000 altcoins created when we already have Bitcoin for crypto? Please understand when a new exchange is developed they developer considering those factors which are lagging in order to provide those features in the new exchange like lesser charge, etc.

It's a dynamic domain which needs to improve as per the need of the hour

Do you need to even ask about this?
The motive is always about money. Every day people try out their luck with different venture with the hope that they could become viral or a hit and be very successful, so, the same applies to the creators of exchanges

The reason why you always see new exchanges is because everyone wants to make money, and besides any new exchange could build a strong brand that can even challenge most of the top exchanges in terms of Liquidity, so don't think all new exchanges are shitty exchanges, although most of the new exchanges have nothing new to offer to the market, they are just there to scam investors and traders by creating fake volumes in order to gain the attention of traders, then later they close down and run away with the exchange money.

If there is a successful job and make money, then people will imitate the business because they want to succeed from their predecessors.
It’s natural because of human nature. But it is not necessary we will succeed like those who have built the business first. But if we survive,
full of brilliant ideas, then it does not close the possibility that we will also succeed, even more, successful than them. Why not?
If we want to continue to develop our creative ideas, there will be a bright path there. As long as we really give the best server to the people.
Then everything will go well.
See Poloniex and Binance. Look at Reddcoin and Tron! It’s just an example.

There is a motto, a saying or whatever, that in the age of gold in California those who became millionaires were those who sold picks and shovels.

That old analogy applies to your OP, in fact the launch in this new era of new projects or the so-called "entrepreneurs" · always start with innovative improvements in existing projects ... that leads me to tell you that perhaps the best exchange has not yet been created...

Do you know how much fees getting an exchange when listing new coin? They will be rich with listed coin on their exchange market and its why many people try to make an exchange, but before make an exchange they will give offer promotion by bounty campaign and running their exchange as ICO project with exchange coin, some time have exchange success and many exchange close because little participants of ICO project and they do not have enough money for listing their coin on other exchange, look binance always every day listed new coin and how much fee getting after coin dump they will delist and change with other new coin.

Well, not all exchanges are the same. Those coming up seem to have better feature than the others. Except that, I think it's because there's a need for multiple exchange so you choose where to exchange your coins, I could prefer exchange B to exchange A because of the feature exchange A doesn't have, or because of the extra feature B has.

Sounds a bit strange)) 😁😁 In case everyone thought like you, we would not get the Binance or Coinbase some day. May be some service look like the same with nothing new to offer, but aafter some time it will surprise us with a high reputation, forr example. Or some coin may become really strong and profitable some day, but at the very beginning it looked like a shit coin. From the million of offers everyone will choose the best option. And it is not bad that we have such a variety. It is good because this creates the competitive area for participants. Without worst there will not be best.

What do you consider an insane idea?  Everything is insane until we got use to it and its never insane anymore.

I would ave to believe creating new exchanges is necessary to cut monopoly after all cryptocurrency is still in the very early stage of its development. We are only less than 15 years. There is more to grow because there is less than 10% of the people on earn are using crypto/BTC.

Money.

One word only but it s very powerful right :D. Powerful enough to change the world. Powerful enough to manipulate some things especially those rich people.

Well, this is the main and possibly only reason why there are some new exchanges right now.

Say it to the creator of Binance, Kraken, Okex, Kucoin and other popular exchanges out there. Tell to them that it is a waste of time.

True there are some major exchanges that are difficult to overcame due to their many positive aspects but there are a lot of bad inrs too, they have high fees and low volumes and they list a lot of bad tokens i think that new exchanges can be innovative in compared to some old ones.

Are there businesses that cannot be improved?  Is it fair to say that modern cryptocurrency exchanges are ideal?  

I think no.  Modern cryptocurrency exchanges have a lot of problems.  Not everyone likes KYC and AML methods.  There is not enough liquidity on modern exchanges.  The support service is poor.  Modern cryptocurrency exchanges are not secure enough - they can be hacked by hackers.  Your funds can be stolen or frozen.  I would like to start trading on a new platform without KYC and AML, with good liquidity and an excellent security system.  I wanted such an exchange to have friendly support and an intuitive interface.

Maybe someone would like to create such a cryptocurrency exchange?  I'm not against.

I don't agree with the opinion of the opening post which argues that making new exchanges is not profitable, by increasing the price of
Bitcoin will increase the popularity of cryptocurrency, this means that a growing number of traders are looking for exchanges to trade.
So I think it's a good opportunity to make exchanges right now, what should be considered is how to promote these exchanges, and
new exchanges must also have features that other exchanges do not have, so get people interested in trying out these new exchanges.

There is a lot of crypto exchange in the crypto because the purpose of each team of the exchange is to make money but there is a lot of trading sites and only fee of them are very useful compared to the most of the exchanges who is useless.

Expect that the exchanges every month will grow due to the money they get once they a lot of traders who trqade to their sites because they have fees on every transaction we make.

I think the reason why they create new crypto exchanges is to compete with other exchanges or worse use it to trick people. They create new exchanges because of sole reason and that is profit. If you notice there's no shitcoin lying on reputable exchanges like Binance, Coinbase, and more because they won't accept it and that will be the purpose of several newly created exchanges to be the dump station of these shitcoins. My claim is that not all newly created exchanges are like that, there are still few who are good to use.

Exchange sites maintain the value of their currency on an exchange basis the reason for choosing new crypto exchanges is that they are much better than before. There is no hassle in transactions and the exchange is much faster. Participants exchange more due to lower fees. The more secure the site the higher the exchange rate on that site.  even if the new site is listed New Crypto Exchanges takes a long time to get rich newer sites are more commonly used for token transactions.

Why there is rain?
Why people buy expensive foods if they can eat the affordable one?
Why we sleep? And allow me to say this, why people need sex?
Because today is not the same as tomorrow.
Better opportunity now will fade tomorrow.
People wants another more beneficial.
People need more excitements.
Change is constant you cannot stop it.
Exchange creation is constant as long as people live and there is alts.

They make new crypto exchange because they want to make money. If there are ten food vendors at a spot and there are 100 people who want to purchase food, all the food vendors would be patronized.
We all have our reasons for choosing a particular exchange. Either because of their exchange rate, their not too complicated interface, their speed of transaction etc...
All exchange cannot offer the same thing that is why more keep coming.

There it is, in the end it depends on the user or consumer itself. Like Binance, it's newer than some of other exchanges, but it's a leader now.

like cryptocurrencies that initially only existed one in the world then grew to hundreds of thousands of coins / tokens that exist today, it is evidence of development where each token has its own advantages and strives to be the best by improving the features and security that exist in exchanger before
The lack of enthusiasts on these exchangers is a common thing, as coinbits were initially just bad exchangers which have now become one of the good exchangers

I think it's unsurprising that new exchanges emerge, as the demand for cryptocurrencies keeps growing and the new exchanges are trying to make some profit out of it. It's like if you've asked why different companies develop smartphones when there are already iPhones. I personally use different exchanges depending on my interests. Some exchanges offer lower fees than others, so it's more reasonable to use them if you're exchanging some big money. Some exchanges add new altcoins, the ones you can't find on others. Also if you're an active trader, you'd be interested in swiftly working exchanges, so that the price won't drop while your request is being processed, and there are many other examples.

In my opinion, there is a rapid development of blockchain projects in the form of digital currency that requires a safe trading place, has attractive features and has a large user base. The second is looking to make a profit, either in money or big names in the cryptocurency industry. This advantage is not only for the exchange, but of course it will affect the developer because volatile coins will provide an increase or decrease in prices that can be used to take advantage. Those who recognize the opportunity that the crypto industry is a golden opportunity and have a good future crypto exchange are promising profit generators.

Binance isn't even that long in the industry. It came into business in 2017. So, it's just three years old in the game. But before Binance, there were other exchanges that ran their businesses differently. Binance happened and revolutionized the game and gave a lot of traders and investors assurance of the safety of their funds. When I joined this forum in 2017, there were slightly over 750 cryptocurrencies listed on the CMC but today there are almost 6,000 of them. I think, the more the merrier applies here. Let more exchanges come, those without innovations will fizzle out with time.

Uniswap is a new exchange. Will you say it hasn't brought something new to the industry?

There is nothing wrong with new exchangers, because all of them survive, whoever remains will win, like the competition of several companies and this fate is owned by all companies.
Everyone can do anything on the internet, you can also make exchanges, no one forbids.

I don't think so, because many new exchangers are giving out money with more events. look for credibility when you want to join a new exchanger, look for reviews on websites like
https://scamdoc.com
https://icoholder.com
or websites that provide other rating searches,
looking for as much info as possible, about the location? CEO? Advisor? and other... so you will be more alert

 Why are they opening new exchange offices on the streets? It's very simple - because it generates income for their owners! It's like a new business. You can open a store, a car wash, or something else, or you can open a crypto exchange. Cryptocurrency is popular now, and this is a very young direction that will only gain popularity in the future.

Everyone’s thinking is different. And this is a matter of trend. If something is booming, then others will follow that trend. Because usually many people
want to benefit from it. If at the moment there are many advantages of creating a crypto exchange business, then there will be many a new crypto exchange will emerge. Over time, the exchange will show their respective shortcomings and advantages. It depends on the owner, the extent to which he manages the exchange.
If we have a clear and good vision and mission, then it will be a great and popular exchange like Bittrex, Binance and other great exchanges,
which we already used to trade. But it is not a simple thing to create a new exchange. It requires skill and experience.

There is a lot of reason but the main reason is to make money. Don't think of it really hard since there are more exchanges coming from the next following years. They all want to make money andtake advantage of the continuous increase in numbers of altcoins in the market. By that reason, it is enough for them to make new exchanges.

They can still make money from exhange. Thats why the idea of opening an exchange is attraction. As you can see. There are many failed exchange. However, if you succeed, the result is unimaginable. Therefore, there are still many investors want to open their own exchange for a stable profit and revenue each month. Respect their job and their dreams

How are you so sure that making new crypto exchanges are not profitable anymore? have you had any experience about launching one? The main reason why more and more crypto exchange are popping out is to make money. Plus having many exchange will make a healthy competition in the crypto exchange industry.

There's some truth to that. Unfortunately, the main reason for initiate a new exchange is not to make it better or safer. NO, it is a money making project. Sure, you invest some initial money and time into it, enough to make it last until you get enough customers, get some money and ditch.
So, I'm yet to understand why we need any more exchanges when we already have the likes of Binance and Bitfinex.

We dont need lots but they do keep on building and making one yet they do know that this is a profitable business when you do really get some sufficient users of your platform
which would be the most or main challenge on any new platforms out there.They dont get enough users until they do die and vanish and the cycle continue.As long this market
do still have money to involved on and do able to make profits with it then they wont be stopping on making one.This is a big profitable business when you do able to get some
sufficient marketshare but same as you said that we arent needing lots if there are already some existing which do already make the job done well.

The very first response of the thread will give a better understanding about having new exchanges.

Whats the need of more cryptocurrencies coming into existence. If one has got the answer, then he'll understand the need of new cryptocurrency exchanges. Everything is tied to money, if cryptocurrencies weren't associated with money this could've never been this popular.

The market keeps widening and to meet the needs we're in need of more exchanges, even when we've got reputed exchange platforms like Binance and bitfinex.

This is one of the good analogy that tells why there are many existence of a certain business or jobs even there is a lot of competition here. Exchanges become more numerous because of the profits it give to the users and owners of the exchange. There are many exchanges in cryptocurrency because it can be brought all over the world. Even there is a great competition, the usage and other utilities that exchange can give to the traders will make an edge for them to have an advantage to the market. Just take a look at binance, it is really a great exchange which has good security and liquidity. So, even there are many exchanges exist and will exist, they will outnumber them all.

we have 4.66 billion internet users today.
https://datareportal.com/global-digital-overview#:~:text=The%20number%20of%20internet%20users,875%2C000%20new%20users%20each%20day

The current number of unique active users of cryptocurrency is estimated to be 101 million or more.
https://news.bitcoin.com/cambridge-universitys-third-crypto-study-records-101-million-cryptocurrency-users-worldwide/

so the ratio will be,

101 million : 4.66 billion
it's just 2.17%

you can still compete to get the rest.

The simplest answer is: because you can do it better.

If you think there's not enough quality services around you and especially if there's not enough or no good exchanges that use your local currency making a new one is a great idea.

If I had the money and a few trusted partners, I'd think about launching one myself.

And the worst is that all those new exchanges will give you nothing better than the other and also the majority if them have a huge withdrwal fee...but this not mean that there will not be any new exchange that can be better than binance

If you have enough funds and good understanding about to this business, investing or taking your chances to build your own exchange is worth risking your money. This industry has lots of potentials so probably if you do have enough funds to use as start-up and you also have good knowledge within this market then proceeding is not bad.


Answering OP, this is business and if there's an open market for business why not grab the
opportunities and take advantage, it's your guts that will fit you in any business venture that
you'll going to take.

You're right. Now there are so many new exchanges of AMM type where all exchanges will be done with automatic swaps without any bids and offers, there only have liquidity and can be revoked at any time and it will make a loss to anyone who buys them instantly. In fact it seems to have an impact on the cost of gas transactions on eth. you can check it directly at https://ethgasstation.info/ (https://ethgasstation.info/). I hope it can be handled by some new project in the future or even when eth 2.0 is properly released perfectly.

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.

To try and make a better one compare to the old and existing ones that we have.
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.

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.
 
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.

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...

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.

yeah, and should be avoided.

Nice answer. Hopefully more and more reputable decentralized exchange will come up and ready to be used especially in this bullish trend for bitcoin where one can sell or buy bitcoin without getting scared of being account being held freeze for investigation for some irregularities. We know that this usually happen especially during a bull run where bitcoin can record the ATH. I think for now bitcoin could go either 20K$-25k$ and that will depend on the market and the demand from the people trusting bitcoin.

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.

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!

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.

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

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.

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.

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..

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.

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.


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.


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.

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.

Money that do circulates out into this market is really big thats why businesses attached to it would really be having the chance or tendency for it to make it something big
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?

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.

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.

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

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.