Why make New Crypto Exchanges

[lepbagong]

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.

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[n0ne]

It may be true that a new exchange is only a temporary stopover, it is better not to go to a new exchange as it is very risky to your funds. I prefer to stick with legacy exchanges with acclaimed credibility like binance and bittrex.

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.

[Ludmilla_rose1995]

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.

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.

[ethereumhunter]

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.

[aria.newman]

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.

[celot]

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.

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.

[taufik123]

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.

[Anonylz]

It may be true that a new exchange is only a temporary stopover, it is better not to go to a new exchange as it is very risky to your funds. I prefer to stick with legacy exchanges with acclaimed credibility like binance and bittrex.

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.

[BIN-BIN]

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.

[satonako]

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.

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.

[Oceat]

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?

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

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.

[Wysi]

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

[logfiles]

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

[Willitivity]

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.

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.

[Shasha80]

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.

[famososMuertos]

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...

[bounceback]

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.

[oktana]

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.

[milani]

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.

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.

[cabron]

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.