All most 75 exchanges and tradings have been dead in 2020

[VanityWallets2015]

For the past two years we are experiencing a bear season and there is a big chance that it is the main reason why many exchanges  are starting to disappear or shutdown.
If their platform will not give them a profit then shutting it down will be their best option rather than keeping it and keep on losing some amount of money for maintenance
and etc. But in other cases, many exchanges are disappering like a bubble because they are created only just to scam the users or the investors.

[Renampun]

Not surprised at all, especially about Hotbit - they are wash trading from day One.

Making an exchange is the easy part. The hard part is providing liquidity and security...

security issues are still the number 1 reason for consumers...
many traders do not want to trade on unsafe exchanges, charge high fees, and do not have real liquidity. There have been many incidents where exchanges have made it very difficult for consumers, make consumers lazy to use that exchange.

[nelson4lov]

Here are possible reasons why I think this happened:

1. The big boys have the lion share - For the past 3 years, only top exchanges like Binance, Okex, Bitmex, Kucoin (even with their recent hack incident) and a few others have been dominating the market and sucking up all the volumes. The small exchanges have to battle for what's left and most times, it's not much. These exchanges needs to earn fees to keep their exchange business running and no project is willing to get listed there except it's for free.

2. The ongoing pandemic: it's no longer news that covid-19 have heavily happened businesses and firms.  Even traditional companies have shutdown due to the impact of the pandemic.

[MCobian]

I only know Hotbit and Bitbox from all the exchanges mentioned in the opening post. It's not easy to compete in the world of cryptocurrency,
Of course without a good promotional strategy it will be difficult to compete with popular exchanges. So it is only natural that many exchanges
have closed and disappeared, but many new exchanges have also emerged. So there must be natural selection, the strong will survive.

[Johnyz]

Those who voluntarily shutdown their exchange knows how the business works and know how to accept their failure instead of scamming the users. There’s a lot of scam exchange that is still running right now, and time will come they will exit the market and left many traders behind. There’s no surprise for this many list, scam projects are all over the market, hackers are also adding to the pressure of many exchange.

[Viscore]

I have to say that they are done. There is no need to keep them in the market, in fact, many traders and investors haven't seen it.
In the market competition, only those exchanges that have a good market reputation and volume will grant to live for a long time/or might be forever. Besides, I haven't seen these exchanges OP to stay because they are already been dead since its creation, and most of them have been abandoned.

I expect more dead exchanges in the coming years if people never stop creating such a thing.

[harizen]

Hotbit (Cause of Death = Scam)

But visiting the exchange, it's still running and operating. Or maybe the dead means = no volume at all.

Actually, it's good that some of these platforms already closed their operation. It just means they can't withstand with the current competition. But still, looking at the whole, there is an advantage playing at small exchanges. It's just that most of them are risky to use.

[AmoreJaz]

Hotbit (Cause of Death = Scam)

But visiting the exchange, it's still running and operating. Or maybe the dead means = no volume at all.

Actually, it's good that some of these platforms already closed their operation. It just means they can't withstand with the current competition. But still, looking at the whole, there is an advantage playing at small exchanges. It's just that most of them are risky to use.

and also there are still projects trying to list their coin in this exchange. anyway, hotbit's tagline -The World's Leading Cryptocurrency Trading Platform is not in anyway near to this claim. we will be seeing more on this list come this end of year.

Those who voluntarily shutdown their exchange knows how the business works and know how to accept their failure instead of scamming the users. There’s a lot of scam exchange that is still running right now, and time will come they will exit the market and left many traders behind. There’s no surprise for this many list, scam projects are all over the market, hackers are also adding to the pressure of many exchange.

and sadly not many exchanges will do this voluntarily. as much as possible they will rip off their traders before they exit without a trace.
 and dont be so trusting even the top 50 exchanges listed in cmc or coingecko, as anytime they can pull off an exit strategy. just dont leave your funds in exchanges. simple as that!

[Inkdatar]

This means the competition in this industry is very high and also only few exchanges in the list which I’m very familiar and haven't tried trading any. In this industry, they have to be creative on how they could compete with other reputable exchanges. So it happens that some can't survive that turns out to be a dead exchange, and, only those can stay in this industry that has a great marketing strategy.

[Yamifoud]

This means the competition in this industry is very high and also only few exchanges in the list which I’m very familiar and haven't tried trading any. In this industry, they have to be creative on how they could compete with other reputable exchanges. So it happens that some can't survive that turns out to be a dead exchange, and, only those can stay in this industry that has a great marketing strategy.

They don't need to be creative, actually. Only they must have to be consistent with what they say, would like to say that they promise high volume, that exactly what the traders have to look at. There's a lot of dead exchanges because they fail to give the desires of their traders and it comes to the point that they have been rejected.

The reality is that the future of these exchanges lies in the hand of the traders and investors, not from the developers itself. If the team can deliver the best, expecting more users to come and that is a big challenge for them, and they should have to do it in order to attract people otherwise, it all be done shortly.

[beerlover]

If we are going with how many of them got cancelled or scammed people we are going to have a lot of trouble, however if you want to be happy about this, you could just how much of them actually made it work as well, just binance alone made a lot improvements and they have been working towards reaching a billion dollar company level, they bought CMC for 400 million dollars as reported so I am assuming they are already making a billion dollars in profit as well, or maybe they just gave in shares.

I still think that bitcoin world is new, I know it has been 10 years but I think in 10 more or even longer we are going to see so much improvements that it is not going to be remotely similar, its going to be something much better and bigger.

[tbterryboy]

I have not heard about almost any of these exchanges but I heard about Hotbit for sure and though I never used it but I am quite sure it was quite popular among traders and I don't know the full story but feels sad if they actually scammed.

I always wonder why there are so many exchanges when there are trusted exchanges like Binance because really why would one want to trade on a new platform knowing that it might turn scam anytime and unless you are getting huge benefits as compared to a trusted exchange there is no reason to experiment with your money. Maybe just like different people shop on different e-commerce platforms similarly people do with crypto exchanges.

[yangongear]

Anyone know Bgogo, an exchange that used to be invested in by a lot of large VCs but it didn't seem to be active for a year, only a few markets were traded by bots, and there was no news for the past 1 last year. I used to buy some of their BGGs and joined the IEO last year. But now it seems dead.

[tippytoes]

I have not heard about almost any of these exchanges but I heard about Hotbit for sure and though I never used it but I am quite sure it was quite popular among traders and I don't know the full story but feels sad if they actually scammed.

I always wonder why there are so many exchanges when there are trusted exchanges like Binance because really why would one want to trade on a new platform knowing that it might turn scam anytime and unless you are getting huge benefits as compared to a trusted exchange there is no reason to experiment with your money. Maybe just like different people shop on different e-commerce platforms similarly people do with crypto exchanges.

What I am wondering is they are still up and operating?

I found this medium article, and explained how hotbit scammed its users.
https://medium.com/@hotbitvictims/how-hotbit-exchange-scammed-its-users-bc07c518b42d

The problem with other traders, they are going to small-medium crypto exchanges because usually their rates are higher than the regular market price. And because they are attracted with possible profit, they don't know that it is just a trap to get their funds and most of the time there's no volume. So how can they trade if there's no liquidity? So it is really advisable to trust the top exchanges, at least you know that you can exchange your coins as soon as you want it to, not waiting for days just to go thru your order.

[boyptc]

Anyone know Bgogo, an exchange that used to be invested in by a lot of large VCs but it didn't seem to be active for a year, only a few markets were traded by bots, and there was no news for the past 1 last year. I used to buy some of their BGGs and joined the IEO last year. But now it seems dead.

I didn't know about this project.

But most of the IEO projects that we have seen and launched from last year to this year, only a few of them remained strong.

And the others, as you have said, almost not active anymore.

[yangongear]

Anyone know Bgogo, an exchange that used to be invested in by a lot of large VCs but it didn't seem to be active for a year, only a few markets were traded by bots, and there was no news for the past 1 last year. I used to buy some of their BGGs and joined the IEO last year. But now it seems dead.

I didn't know about this project.

But most of the IEO projects that we have seen and launched from last year to this year, only a few of them remained strong.

And the others, as you have said, almost not active anymore.

Yes, this market changes every day, with the recent rise of Uniswap who knows what the future of centralized exchanges will look like, most recently Fud of OKEx. DEX is the future of exchanges and true to the idea of blockchain. Users are getting smarter, and they will only choose exchanges that are reputable enough to deposit their assets on it.

[ashmodeus]

just sad to hear it, mostly i use of that exchanger u say. i using dex exchange like tokenJar or token store for arbitrage, well since we know exactly dex exchange isn't something most people are interested in , no wonder they shutting down. Orderbook also dex exchange as far i remember, but since they became the ICO bazaar sale , they ask KYC for trading and become hybird, then i just leave it. Openledger also , the dialy volume is really small. but well, at least we can see revolution of dex exchange by Uniswap.
well, about scam CEX exchange, nah, i wont commented.

[abel1337]

Anyone know Bgogo, an exchange that used to be invested in by a lot of large VCs but it didn't seem to be active for a year, only a few markets were traded by bots, and there was no news for the past 1 last year. I used to buy some of their BGGs and joined the IEO last year. But now it seems dead.

I didn't know about this project.

But most of the IEO projects that we have seen and launched from last year to this year, only a few of them remained strong.

And the others, as you have said, almost not active anymore.

This is the cycle of projects, no matter what kind of method they are using on their crowdsale. The dedicated and serious project will stay and the weak project will  be get rid off.

Keeping out on the least trusted exchange can make you feel better about the asset you are hodling, Of course the token is also an important factor. Always remember that never trade a token that is only listed of a single exchange and on top of that is the exchange quality. Always keep  that.

[CucakRowo]

strange thing when i found hotbit mentioned as scam exchange. I have an account at there. But purpose is only to buy Nexo (since binance or bittrex nor poloniex still not listed this coin).
First time register in their exchanges was on August 2020 if i'm not wrong. Till now i have no issues regarding deposit (BTC & TRX) or withdraw nexo. Although, yes, their withdrawal fees are high (for me).
Register in hotbit coz coingecko give "decent score" for that exchanges.

[Yatsan]

Haven't heard or not even familiar with those exchanges that have been mentioned so more likely those are underrated exchanges or newly sprouts exchanges. I do not get it why people would get into such exchanges that do not have any popularity gained that can be potential to be scam exchanges and people do still engage on it when they could just get along engaging into well-known and reputable exchanges that are a lot more safe than those exchanges that have been mentioned. Beware of such unfamiliar exchanges before you decide engaging on it because it would be a regretful act once you got scammed for engaging into an exchange which you do not basically know. Instead of risking your funds into such, better get into a decent, well-known and reputable exchange than putting all that you have into a risk.