Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Incentivised Posting / Shill => Topic started by: Sozo on April 27, 2025, 05:19:35 AM
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As I've explored various crypto exchanges over the years, I've wondered: what's the ideal lifespan for an exchange? Should they aim to be long-term players or adapt and evolve quickly?
Some exchanges have been around for years, like Coinbase, Bingx and Binance, while others have come and gone. What factors contribute to an exchange's longevity?
BingX, for example, is celebrating its 7th anniversary congratulations to them for staying this long. But the question that still lingers is "what makes an exchange successful and enduring"
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As I've explored various crypto exchanges over the years, I've wondered: what's the ideal lifespan for an exchange? Should they aim to be long-term players or adapt and evolve quickly?
You can only be a long term player if you adapt, one who does not adapt, perishes.
Some exchanges have been around for years, like Coinbase, Bingx and Binance, while others have come and gone. What factors contribute to an exchange's longevity?
BingX, for example, is celebrating its 7th anniversary congratulations to them for staying this long. But the question that still lingers is "what makes an exchange successful and enduring"
I think that can be only answered by people who run these exchanges. But, if I were to guess, it would be — catering to users needs.
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The first three years are usually critical for a platform. If it doesn't develop and grow its user base, it won't be in the top spots.
After a platform maintains its position in the top spots, it must continue to grow. Otherwise, within six years, it will begin to decline and its user base will decrease. Therefore, continued growth requires a promotional team, a technical team, etc.
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Some exchanges, especially some bitcoin exchanges were closed down not because they do not have customers anymore but because of government telling them to begin KYC or they should close down.
See what happened to eXch recently. It closed some not because he is not having customers anymore but because of regulation.
But it is true that most exchanges, especially altcoins exchanges should make sure they adapt. They should also satisfy their customers.