Why New Crypto Exchanges Are Gaining Ground

[akeemqaz]

Cryptocurrency exchanges in general are attracting more users due to mainstream adoption and growing interest in digital assets.

As the market matures, investors seek reliable trading platforms. New exchanges gain traction mostly because of their innovative features, enhanced security, and low fees.

My reason for preferring these new platforms is that they offer diverse trading pairs to meet varied preferences and help diversify portfolios. They also have improved interfaces and educational resources that make crypto trading more accessible to beginners, unlike the older platforms.

Which exchanges are you using, and why? Have you also noticed any rapid growth in particular platforms?

[yhiaali3]

I think that the majority are unlike you, the majority prefer old reliable exchanges that have achieved widespread growth and are very popular such as Binance and OKX, KuCoin for CEXs or UniSwap, PancakeSwap for DEXs.

It is true that new exchanges try to offer some attractive features to attract investors, such as an improved interface, low fees, bonuses, etc., but they do not gain trust in the beginning. There are many scam exchanges that appear in abundance, so investors prefer reliable exchanges.

[yhiaali3]

I'm of the opinion that Bitget should be in the category you mentioned. Though not as old as them but they're steadily improving. https://www.coinglass.com/exchanges. Recently hit a milestone on x followers too which would signify gaining trust also. Anyways I'm sure it'll be competitive for exchanges in the future due to new in innovations etc..

Of course, I did not mean in my words that all new exchanges are not good or that they are unable to compete, but what I meant is that they must wait some time and put in more effort in order to gain trust, which is considered the most important factor for the success of any exchange.

Regarding the Bitget exchange, I agree with you, although it is not very old, but it has achieved significant growth recently, especially after the success of PoolX, BWB token, BGB and other features offered by Bitget.

[joniboini]

Have you also noticed any rapid growth in particular platforms?

I think the bull market can be one of the biggest factors for this. New retail traders or ETFs being approved can be counted too if you want. Not surprising IMO, as I'm more interested if the growth is sustainable or will the market revert back to 5-10 exchanges that share the majority of trading volumes after the bear market hit. In my local market, surprisingly no big change is happening, with the same players from a few years ago competing to gain market share as usual. Maybe because the requirement to start a new exchange becomes stricter, or the market is too saturated.

[Aanuoluwatofunmi]

Are new crypto exchanges actually gaining ground, if i can still recall, binance exchange have maintained being the leading crypto exchange in the world under the centralized category, there are many newly launched exchanges and we are not hearing about them or neither are they making it up to the ladder close to where this exchange have been, though there is nothing impossible to be achieved, if the new ones can work more harder to get to the top.

[Jomisa]

I'm of the opinion that Bitget should be in the category you mentioned. Though not as old as them but they're steadily improving. https://www.coinglass.com/exchanges. Recently hit a milestone on x followers too which would signify gaining trust also. Anyways I'm sure it'll be competitive for exchanges in the future due to new in innovations etc..

Of course, I did not mean in my words that all new exchanges are not good or that they are unable to compete, but what I meant is that they must wait some time and put in more effort in order to gain trust, which is considered the most important factor for the success of any exchange.

Regarding the Bitget exchange, I agree with you, although it is not very old, but it has achieved significant growth recently, especially after the success of PoolX, BWB token, BGB and other features offered by Bitget.

Yeah trust is key and I think they're putting in efforts. I read about their partnership with sumsub to enhance security and protect its users.

[Z-tight]

I don't recommend new exchanges, except you are very sure they are legit. I don't know the new exchanges you have in mind and maybe you should have mentioned some of them. If you have been trading in an old exchange for a long time without any problems, i don't recommend that you move to new exchanges, so you don't get scammed.

[target]

I don't recommend new exchanges, except you are very sure they are legit. I don't know the new exchanges you have in mind and maybe you should have mentioned some of them. If you have been trading in an old exchange for a long time without any problems, i don't recommend that you move to new exchanges, so you don't get scammed.

One reason they are up to move to new exchange is the token which they have bought at early bird price. So much to gain for then when the price grow and at the same time they make earning wince holding the native exchange token is given dividends shares.

Like you, some are not comfortable signing up new platforms. Its just another KYC to submit.

[Roseline492]

Which exchanges are you using, and why? Have you also noticed any rapid growth in particular platforms?

Well I believe the reason why crypto exchanges are gaining ground is as a results of widespread of crypto in the world because the interest on cryptocurrency investment has drastically increase so from there most crypto exchanges that wasn't having much users began to have and they started becoming very popular because if you check very well some years back most of the exchanges that are becoming popular now was very silent because the crypto awareness then was not much.

However regardless of all the exchanges now that are currently on operation Binance remains one of my best exchange, however I also love OKX, KuCoin and Bybit, though I'm not saying that the listed exchanges are the best compare to other exchanges but what I'm saying is that for me those are my favorite exchanges because of there good features.

[Obari]

One important thing to note is that, whatever is new is supposed to do better than previous ones that’s why there is always a provision for update on previous ones to meet current demands.
These new exchanges are actually doing very fine that I must commend and the recent ban of p2p market from most reputable exchanges in my country is given so much edge to new exchanges and I’m sure I’m seeing them thriving already

[Charles-Tim]

Which exchanges are you using, and why? Have you also noticed any rapid growth in particular platforms?

I use the exchanges that are well reputed and well known. I also use instant exchange like https://exch.cx/ if I want some privacy because the former exchanges I am referring to like Bybit, Binance, OKX are not private at all.

One important thing to note is that, whatever is new is supposed to do better than previous ones that’s why there is always a provision for update on previous ones to meet current demands.
These new exchanges are actually doing very fine that I must commend and the recent ban of p2p market from most reputable exchanges in my country is given so much edge to new exchanges and I’m sure I’m seeing them thriving already

The old exchanges have been improving in a way that the new exchanges are either like them but not better than them. This is my own opinion. Can you tell me any of the new exchanges for me to check and know if they are good more than the old exchanges?

[Wiwo]

The old exchanges have been improving in a way that the new exchanges are either like them but not better than them. This is my own opinion. Can you tell me any of the new exchanges for me to check and know if they are good more than the old exchanges?

The old exchanges have not improved significantly compared to new exchanges that are well updated to suit users demands, I think the reason why old exchanges can never meet up with new exchanges in terms of features is because most of the new development are working and improving on the older exchanges set backs and failures.

Not a noticeable number of old exchanges are working to enhance their outdated features,  but a few of them are really trying to meet up with current demands.

[Charles-Tim]

The old exchanges have not improved significantly compared to new exchanges that are well updated to suit users demands, I think the reason why old exchanges can never meet up with new exchanges in terms of features is because most of the new development are working and improving on the older exchanges set backs and failures.

Mention any new exchanges that is better than the old exchanges and let me do the comparison.

Not a noticeable number of old exchanges are working to enhance their outdated features,  but a few of them are really trying to meet up with current demands.

Few? On Coingecko, Coinmarketcap and most exchanges rating sites, the exchanges that take the top spots are old exchanges. It is normal during the race that some exchanges will not be able to compete anymore and some will close down, but there are many old exchanges that ar dominating. All the exchanges that are dominating by now are old exchanges.

[Crwth]

I don’t Agree with The idea that you a new exchange are something to be gaining ground or join immediately as a user. Just because it might not be safe or it is an unknown exchange unless there is some real background and partners are investing in that are trustworthy.

New pairs are easy to come by, especially if you have access to the Decentralised exchanges. I don’t think you need to join a new exchange for that.

[electronicash]

due to what happened to FTX i think majority of the people in crypto are already wary when it comes to newer exchanges that might pose as reputable and then just  scam. especially when their CEO just appear to be philanthropist  of some kind. 

i would rather be using the exchange that have been accused for many times yet still alive for almost a decade. at least those guys still operating all though i wouldn't really putting large sum or i will just buy a token that is only listed there and withdraw just so i can use the token or hold.