Why make New Crypto Exchanges

[LogitechMouse]

Money.

One word only but it s very powerful right . 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.

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.

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.

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[Ratash]

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.

[Smartprofit]

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.

[MCobian]

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.

[Question123]

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.

[blckhawk]

Lately i see many new crypto exchanges / shitcoin exchanges.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.

Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.

Am i wrong? Correct me if im wrong, willing to hear all your opinions.

I think 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.

[Istiaque]

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.

[fileo]

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.

[Baskeyairdrop]

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.

[wedosgibas]

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.

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.

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.

[taufik0911]

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.

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

[just_Alice]

Lately i see many new crypto exchanges / shitcoin exchanges.
I find that creating new exchanges these days isnt profitable anymore, why would someone switch from a long known exchange like binance/coinbase/etc. to some brand new exchange? Even with a marketing campaign, theres not much you can innovate. All exchanges that promise "no KYC fiat trading" is either a scam or will be shut down due to AML policies.
Exchanges which allow anyone to list their own coin ( exists ) are very vulnerable to Dip and Ditch schemes.

Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.

Am i wrong? Correct me if im wrong, willing to hear all your opinions.

I think it'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.

[AakZaki]

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.

[Mpamaegbu]

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?

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.

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.

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

[SonyChristopher]

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.

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.

Overall i find working on a new Crypto Exchange a waste of time, money and effort unless you have some truly insane idea.

Am i wrong? Correct me if im wrong, willing to hear all your opinions.

I 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

[Altryist]

 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.

[sayaya17]

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.

Am i wrong? Correct me if im wrong, willing to hear all your opinions.

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.

[kayvie]

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.

[concept2]

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

[Astvile]

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.