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.
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.
Nice answer. Hopefully more and more reputable decentralized exchange will come up and ready to be used especially in this bullish trend for bitcoin where one can sell or buy bitcoin without getting scared of being account being held freeze for investigation for some irregularities. We know that this usually happen especially during a bull run where bitcoin can record the ATH. I think for now bitcoin could go either 20K$-25k$ and that will depend on the market and the demand from the people trusting bitcoin.