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[Balint098]

As reported by Bitcoin.com, Cryptowisser, a crypto-related comparison site has launched its crypto exchange graveyard, where they list defunct crypto exchanges. In this year alone, there are already 75 crypto exchanges that are dies because of the volatile nature of crypto and the rising popularity and mainstream adoption of the digital currency, this leads to a more fierce competition that makes many of them buckle under pressure. The dead rate is alarmingly jumped to more than 50% when compared to the last year death rate statistic.

 

[Wisdom01]

Well this is alarming , all I know is that when more crypto exchange sites are folding up then more are starting up , and vice versa , I hope things get better

 

[Niftyicon]

That figure is quite huge in such a short time frame. I can only attribute that to the stiff competition they had to face and how well they could manage the security needed for such exchange sites.

 

[Josemendez]

As reported by Bitcoin.com, Cryptowisser, a crypto-related comparison site has launched its crypto exchange graveyard, where they list defunct crypto exchanges. In this year alone, there are already 75 crypto exchanges that are dies because of the volatile nature of crypto and the rising popularity and mainstream adoption of the digital currency, this leads to a more fierce competition that makes many of them buckle under pressure. The dead rate is alarmingly jumped to more than 50% when compared to the last year death rate statistic.

I think part of the reasons while they died is the fact that there are many exchange sites available thus the stronger one's dominates the market and this affects other ones negatively

 

[Vladv26]

Honestly I'm not surprised about that. There are literally thousands of exchanges, most of them just appearing overnight. But they die just as fast as they appeared

 

[Josemendez]

Honestly I'm not surprised about that. There are literally thousands of exchanges, most of them just appearing overnight. But they die just as fast as they appeared

Some have been able to come new and with their strategy have outperformed the exciting ones, is all about strategy of the exchange company

 

[Brain]

Well this is alarming , all I know is that when more crypto exchange sites are folding up then more are starting up , and vice versa , I hope things get better

The number is really huge, I'm just wondering the major cause of that. It never easy to sustain a business though. Some just need pretty long time

 

[Wisdom01]

The number is really huge, I'm just wondering the major cause of that. It never easy to sustain a business though. Some just need pretty long time

That's the issue i guess most of those exchange sites that don't have much users easily folds up since they pay for maintenance and web hosting fee

 

[Brain]

That's the issue i guess most of those exchange sites that don't have much users easily folds up since they pay for maintenance and web hosting fee

This must be one of the reasons since input must come with a reasonable output which will help sustain it. I never ever knew number of exchanges was even thst high

 

[Wisdom01]

This must be one of the reasons since input must come with a reasonable output which will help sustain it. I never ever knew number of exchanges was even thst high

Yeah there large number of exchange sites and even more are adding everyday , the list is very long that's just it , some are regulated and some are not

 

[LutherKing]

Well High fees Is one the reasons too , if you platform is not established and new , you should keep the fee minimum to make users interested to use your service tbh actually

 

[GoldenLady]

A lot of people see only the gains not the pains till they start their own business. Running a cryptocurrency exchange is shown also be a big deal from the statistics above.

 

[Brain]

A lot of people see only the gains not the pains till they start their own business. Running a cryptocurrency exchange is shown also be a big deal from the statistics above.

That's the Truth, people are good in trying to copy others but can you handle the business that's always the issue. Whenever they get in they feil because they didn't understand the working

 

[LutherKing]

Yes , You Should Always Learn The Basic And Then Apply Your Own Strategy And Unique WaysTo Win Your Clients That's The Best Possible Way Tbh

 

[Wisdom01]

Honestly I'm not surprised about that. There are literally thousands of exchanges, most of them just appearing overnight. But they die just as fast as they appeared

Many of them actually died because of so much bad management by the admin in charge of the platform and so many other factors too contribute

 

[LutherKing]

Yes most of them just wanted to make quick komey and maybe flow and settle to Bahamas to love their rest of life to be honest ?...