More and more cryptocurrencies keep appearing as well as exchanges. Cryptocurrency as essence won`t be dead until all of it is eliminated, he-he. What concerns exchange platforms, things are far more complicated for them. It is quite difficult for a newcomer at this field to compete with mastodonts that has been in the business for a few years. What are true reasons for that? No matter what brand new ideas they come up with, the main obstacle is a simple psychological fact: people always prefer what they know best. Those who have been using for instance Kraken for years need a weighty argument to switch to some no name exchange (as it looks for them) like Indodax or Hotbit. Very simple. The most probable scenario here is when a good old-fashioned exchange pushes its user to something new by some inadmissible actions (these could be long withdrawal procedures, bad support work, freezing accounts or involvement in some dirty schemes). Such tendency of quitting older cryptocurrency exchanges in search of a more reliable place could be observed lately. There cases when older exchanges gained a reputation of trustworthy no matter what happened to them and users don`t want to go somewhere else. Let`s take Bitfinex 2016 hack, for example. It was the second-largest hack in crypto history and the company solved the situation properly, having reimbursed all of customers lost funds. Some are still skeptical about it, but the company reputation has almost fully recovered. Of course, some left, but true adherents of Bitfinex stayed with it. That part will hardly change it for some unknown platform, no matter what nice goodies this exchange will offer to them.