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.