cheezcarls (OP)
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May 27, 2019, 06:58:47 PM |
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As what I have seen in the crypto market nowadays, new exchanges keep emerging. But why?
Is it because they want to compete with Binance, Okex, KuCoin, etc., and believe that they would surpass them?
In my opinion, there's no way that these new exchanges would surpass the big players in the market. Thus, it's already saturated no matter what "magic" or unique feature that they had.
There are two exchanges that I have encountered that they've launched their ICO before. I don't want to name them, but after launching their exchange, trading volume is zero to very less. You know why?
It's because most active traders are trading and arbitraging in established ones rather than trading on the new ones with no to very less volume at all. Correct me if I'm wrong, but investors and traders doesn't care anymore about the features. They just stick to big players like Binance with a lot of trading volume and activity.
No matter what their new features are, it has no to very less impact to investors and traders. In other words, creating new crypto exchanges are meaningless.
I just don't understand why are they still making their own despite they know that they can't topple Binance? Hoping to make a lot of money from listing and trading fees? IEO launchpads?
Do you guys agree that making our own crypto exchange isn't worth it anymore in today's market situation? Is it really saturated now?
I'm looking forward to your opinion or feedback regarding this one and I would appreciate it no matter if you agree or disagree. Thanks in advance.
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Jating
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May 27, 2019, 07:08:31 PM |
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I don't think that market has been saturated. How many people are in the crypto industry right now? Not even 1% of the whole population? So there's still a lot of people who might enter the crypto industry and that is what these new exchanges might be targeting.
If there's more competition in the business then it will be good for us. And just like I said it's business, so obviously, they want to take advantage of everything and make some money out of this billion dollar industry, imho.
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Slow death
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May 27, 2019, 07:40:49 PM |
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leowonderful
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May 27, 2019, 08:41:46 PM |
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I agree. A lot of the newer exchanges really don't bring anything new to the table at all, and even if a newer exchange was released and had useful and unique features, I would likely not use that exchange initially solely for its lack of reputation unless the feature(s) were extremely useful or important. I primarily trade with Bitmex and Binance as I prefer to avoid KYC while trading, and unless radical changes happen to either of those exchange I do not plan on switching over to any other exchange.
I still think there will be other major exchanges in the future even though many of the newer exchanges don't offer anything new, though. Binance opened in 2017 if I remember correctly and it's now one of the biggest exchanges out there as of right now. There's still places where things can be improved, and if an exchange happens to adequately improve on areas where other major exchanges are weak and offer reasonable fees and good services, that exchange can grow to become bigger and bigger.
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Bitcoin_Arena
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May 27, 2019, 09:05:44 PM |
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It's not yet actually so saturated and i prefer it if there are more exchanges for many reasons rather than if there well few. If there are more exchanges, it kills monopoly of the market which comes with a lot of disadvantages. I will quote what I said some time back about the importance of having many exchanges in the crypto sphere BENEFITS
Investors - Lower trading fees - Wider choice of exchanges to choose from - Tokens invested in are listed much quicker - Improved customer support due to competition for traders - More trade competitons
ICO holders - Lower listing fees - Quicker listing and launching of project tokens
The disadvantage is on the exchange side where they will be in so much competition meaning lesser traders and probably some of them will fail in the due process
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eagle10
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May 27, 2019, 10:49:13 PM |
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I don't think newcomers in the exchange industry want to compete with the solid exchanges. They are established already. What I am thinking is that it is a healthy competition. Each has its own feature that makes them stand out among others. People and clients are looking for exchanges that would satisfy what they are looking for like exemption for KYC, the trding fees and or withdrawal fees. They are comparing them to know what is best and user friendly to use.
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Genemind
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May 27, 2019, 11:08:31 PM |
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I don't think new exchanges are trying to compete with huge and top exchanges but they all know how they could earn through it. The problem with new exchanges is they couldn't reach the expectations and the security which traders have been expecting from them. They could start building their own exchanges but they couldn't surpass the reputation of top exchanges.
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CryptoBry
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May 28, 2019, 06:58:22 AM |
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As what I have seen in the crypto market nowadays, new exchanges keep emerging. But why? Is it because they want to compete with Binance, Okex, KuCoin, etc., and believe that they would surpass them? In my opinion, there's no way that these new exchanges would surpass the big players in the market. Thus, it's already saturated no matter what "magic" or unique feature that they had.
You have a point. However, let me add that maybe we have a saturation with unreliable and potentially problematic cryptocurrency exchanges as there seems to be a rush now to put up and introduce similar platform to take advantage of the expanding market. We are in the open market and so it is just natural that a healthy competition can ensue. As they are saying, the more the merrier the better. Of course, some of these players will wither under the sun and die a natural death due to lack of business. Let the fittest survive. In conclusion, we have a saturation yes at some point but generally speaking there remains to be the demand for good, reliable, transparent, user-friendly and innovative cryptocurrency exchanges (and may I add a decentralized one but is convenient and offers the better experience that what can be found presently as I hate the current decentralized format).
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Polyxchange
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May 28, 2019, 11:26:06 AM |
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But it is entirely possible that some new small exchange will grow and outperform the large ones. Well, or traders will use only DEX platforms, and top centralized exchanges will become unnecessary.
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davis196
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May 28, 2019, 12:16:07 PM |
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Every industry is saturated and that's perfectly fine.Competition is a good thing. Do you want some kind of crypto exchange monopoly to dictate the crypto prices and trading fees?
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traderethereum
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May 28, 2019, 12:51:28 PM |
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In the future, there will be many more new exchanges that will launch because they have a different reason to do that. They know that it will difficult to compete with the existing exchanges because they were already bigger than them. They only targeted the local people because they know that they need time to make their exchange bigger. At that moment, I don't think that money will be their reason to launch the exchanges, but I think they need to gain trust from people so they can become bigger in the future. But we don't know if the market now becomes saturated because of many new exchanges in out there and makes traders confuse to choose the right exchanges. Traders will find out by themselves of the right exchanges that will suit them.
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NeuroticFish
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May 28, 2019, 01:04:23 PM |
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Is it because they want to compete with Binance, Okex, KuCoin, etc., and believe that they would surpass them?
In my opinion, there's no way that these new exchanges would surpass the big players in the market. Thus, it's already saturated no matter what "magic" or unique feature that they had.
The best exchanges do change from time to time. Sometimes better exchanges emerge. Before Binance there were other big exchanges. Binance rose and now it's among the big players in the industry. One has to try and, if his strategy is good and the stars align right, the exchange can become big. Bitfinex was not the same after the hack. Binance almost fallen after the hack. Poloniex and Bittrex did the KYC "force" in the bad way. There are events which, if handled incorrectly by the big players, can make them unattractive anymore and people will choose something else. Choice is good. Competition is good. Don't underestimate them.
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dark08
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May 28, 2019, 01:06:16 PM |
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I'm not suprising if theres a lot of new exchange site will introduce in the market since cryptocurrencies are being popular all over the world, but I dont think if this new exchange site will compete to the big exchange site in the market, and I dont agree that what OP said that new exchange site cannot surpass big exchange site because the time will come a new exchange site that has a capability to bring user a good services and friendly exchange site like what Binance did for a couple of years.
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NeverSop
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May 28, 2019, 01:49:24 PM |
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As what I have seen in the crypto market nowadays, new exchanges keep emerging. But why?
Is it because they want to compete with Binance, Okex, KuCoin, etc., and believe that they would surpass them?
In my opinion, there's no way that these new exchanges would surpass the big players in the market. Thus, it's already saturated no matter what "magic" or unique feature that they had.
There are two exchanges that I have encountered that they've launched their ICO before. I don't want to name them, but after launching their exchange, trading volume is zero to very less. You know why?
It's because most active traders are trading and arbitraging in established ones rather than trading on the new ones with no to very less volume at all. Correct me if I'm wrong, but investors and traders doesn't care anymore about the features. They just stick to big players like Binance with a lot of trading volume and activity.
No matter what their new features are, it has no to very less impact to investors and traders. In other words, creating new crypto exchanges are meaningless.
I just don't understand why are they still making their own despite they know that they can't topple Binance? Hoping to make a lot of money from listing and trading fees? IEO launchpads?
Do you guys agree that making our own crypto exchange isn't worth it anymore in today's market situation? Is it really saturated now?
I'm looking forward to your opinion or feedback regarding this one and I would appreciate it no matter if you agree or disagree. Thanks in advance.
I do not think there is saturation happening in the crypto market but only from exchanges (Binance, Okex, Huobi ....). Because big exchanges have investors, big organizations speculating? This seems unfair to the next generation advanced crypto exchange solutions built. Specifically as Xbase. In commerce or business, if you refuse opportunities, abandon ideas or stop development. You will not be successful. If Apple does not have its own unique characteristics, it will not be able to create its own special spaces and specialties in the world.
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Indamuck
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May 28, 2019, 02:16:21 PM |
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Why are you so confident that new exchanges can't topple Binance? Companies don't last forever and they can easily be overtaken by newcomers.
Saturation just means more competition which should hopefully bring us better service as they all try to undercut each other for lower fees.
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Barbut
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May 28, 2019, 03:42:05 PM |
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Why are you so confident that new exchanges can't topple Binance? Companies don't last forever and they can easily be overtaken by newcomers.
Saturation just means more competition which should hopefully bring us better service as they all try to undercut each other for lower fees.
Even big ones fall thats true, but in this case I think binance is here to stay, they are doing amazing work on every field, business, marketing, promotions, and price of their token is just a proof of that. Anyway I dont think that exchange industry is saturated, that just looks like that cause cryptocommunity is still small, but with more people joining there will be a need for even more exchanges than we have now. Just many of them will not get to the level where is binance, but for sure they will try to do their best on this market.
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playboy654
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May 28, 2019, 04:25:38 PM |
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As what I have seen in the crypto market nowadays, new exchanges keep emerging. But why?
Is it because they want to compete with Binance, Okex, KuCoin, etc., and believe that they would surpass them?
In my opinion, there's no way that these new exchanges would surpass the big players in the market. Thus, it's already saturated no matter what "magic" or unique feature that they had.
There are two exchanges that I have encountered that they've launched their ICO before. I don't want to name them, but after launching their exchange, trading volume is zero to very less. You know why?
It's because most active traders are trading and arbitraging in established ones rather than trading on the new ones with no to very less volume at all. Correct me if I'm wrong, but investors and traders doesn't care anymore about the features. They just stick to big players like Binance with a lot of trading volume and activity.
No matter what their new features are, it has no to very less impact to investors and traders. In other words, creating new crypto exchanges are meaningless.
I just don't understand why are they still making their own despite they know that they can't topple Binance? Hoping to make a lot of money from listing and trading fees? IEO launchpads?
Do you guys agree that making our own crypto exchange isn't worth it anymore in today's market situation? Is it really saturated now?
I'm looking forward to your opinion or feedback regarding this one and I would appreciate it no matter if you agree or disagree. Thanks in advance.
Don't say that new exchanges will surpass the current big exchanges because binance proved it wrong when it was relatively new but managed to climb up to the most preferred crypto exchange because of what? Their customer support and security to the funds but recently their security badge got shattered due to the hack on their hot wallet but they managed to repay all those lost amounts.
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Slow death
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May 28, 2019, 04:28:09 PM |
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Why are you so confident that new exchanges can't topple Binance? I can answer this question: Have you seen who are the owners of the new exchanges? Have you seen the resources of the new exchanges? Here's what I think about the new exchanges: They are copy/paste of exchanges that already exist Do not have any innovations. They are not ready for the regulations. they do not have a physical office Its creators have very weak or nonexistent marketing campaign
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gantez
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May 28, 2019, 05:03:30 PM |
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What are think about saturated exchange is that we have few that are really doing the business and many trying to manipulate and scam. So it is not saturated yet. they do not have a physical office
I'm thinking having a physical office will be a function of the outcome of regulation. If exchanges are not regulated, such stationed office might not be realistic just like the icos.
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deisik
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May 28, 2019, 05:16:30 PM |
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But it is entirely possible that some new small exchange will grow and outperform the large ones Possible but not very likely overall Well, or traders will use only DEX platforms, and top centralized exchanges will become unnecessary
That's even less likely Properly built distributed decentralized exchanges need their own infrastructure built from scratch (including a special blockchain). There are but few such in the wild (for example, BitShares), and we can't actually say they enjoy wild success and huge popularity. They are still heavily centralized, only on a different level, i.e. on the blockchain level. The entities behind these exchanges are controlling their respective "private" blockchains, which is not very far from regular exchanges like Bitfinex or Binance, if you ask me
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