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[SCAMEXPOSER]

Chinalysis a leading Crypto analyst firm made it known that as at last month the four biggest Crypto currencies exchange sites (Bitfinex, Binance, Huobi and Coinbase) recieve 40% of the total bitcoin in circulation via exchange this year while the next ten exchange sites recieve 34% and other developing exchange sites share the rest 24%.

 

[KarthikP]

So these exchangers earn money from the withdrawal / trading fees right? Or is there any other way they earn? 40% of total bitcoin is almost half of existing bitcoin..

 

[Wisdom01]

This is to show the number of people who use major and big exchange sites for their transaction, 40% bitcoin is not a small thing other small exchange sites should develop and compete

 

[Josemendez]

Chinalysis a leading Crypto analyst firm made it known that as at last month the four biggest Crypto currencies exchange sites (Bitfinex, Binance, Huobi and Coinbase) recieve 40% of the total bitcoin in circulation via exchange this year while the next ten exchange sites recieve 34% and other developing exchange sites share the rest 24%.

That's because these exchange sites have good reputation and people feel safer with them , thus they used these sites .
This is why competition is a challenge facing the the new exchange sites .

 

[microunit]

well people would always prefer to use trusted exchange rather than new ones without much credentials yet. I've seen lots of new exchanges that aren't fairing well

 

[KarthikP]

well people would always prefer to use trusted exchange rather than new ones without much credentials yet. I've seen lots of new exchanges that aren't fairing well

Yeah they may take some time to bring reputation and trust among the people like the old exchanges like Binance. People start liking exchangers if they offer low withdrawal fees.

 

[Josemendez]

well people would always prefer to use trusted exchange rather than new ones without much credentials yet. I've seen lots of new exchanges that aren't fairing well

Yea , they have to fight towards gerring the attention and trust of the people , which won't be very easy co soldering the giant exchangers in existence already .

 

[SCAMEXPOSER]

It is a gradual process with lots of attractive package and efficient services that will make the new exchange sites gain ground to get more subscribers..

 

[Wisdom01]

If those new exchange site could offer incentive to users that sign up on their site and rewards this could make them more popular I think for example okex exchange and others

 

[microunit]

If those new exchange site could offer incentive to users that sign up on their site and rewards this could make them more popular I think for example okex exchange and others

most new exchange sites lately does that, but most users just get the reward and never really stay in the site, that's kinda a big problem for the new exchanges

 

[Wisdom01]

most new exchange sites lately does that, but most users just get the reward and never really stay in the site, that's kinda a big problem for the new exchanges

Most new exchange site does that but they usually have a policy or terms or a certain minimum amount to trade to receive that reward ,like okex exchange site you trade $100 you get $10 for free

 

[microunit]

Most new exchange site does that but they usually have a policy or terms or a certain minimum amount to trade to receive that reward ,like okex exchange site you trade $100 you get $10 for free

yeah heard about that with okex, and also heard that they have this daily reward system and the site seems to be heavily advertise on various platforms because of that

 

[Wisdom01]

yeah heard about that with okex, and also heard that they have this daily reward system and the site seems to be heavily advertise on various platforms because of that

How does their daily reward looks like ? hmm yeah they do advertise on different platform to get more clicks and others and crypto sales on their platform

 

[Brain]

well people would always prefer to use trusted exchange rather than new ones without much credentials yet. I've seen lots of new exchanges that aren't fairing well

You are right people even me will mostly check out old exchangers to use because new ones can't be trusted.

 

[microunit]

You are right people even me will mostly check out old exchangers to use because new ones can't be trusted.

and also there's the UI of each exchangers, some people prefer to use other exchanges over the other because they like the interfaces better and much more understandable

 

[Wisdom01]

You are right people even me will mostly check out old exchangers to use because new ones can't be trusted.

Some new exchange sites are legit thats if its regulated , but my advice is that those new ones that are unregulated are still risky for investment of bitcoin I think

 

[microunit]

Some new exchange sites are legit thats if its regulated , but my advice is that those new ones that are unregulated are still risky for investment of bitcoin I think

I've seen more legit looking new exchange sites but they don't seem to be getting much users than other already trusted exchanges which is weird

 

[Wisdom01]

I've seen more legit looking new exchange sites but they don't seem to be getting much users than other already trusted exchanges which is weird

Even if the trading fees is low , if they don't like it they might not opt in for it ,since they aren't still sure about the site and its legit rating that's it

 

[Wisdom01]

I've seen more legit looking new exchange sites but they don't seem to be getting much users than other already trusted exchanges which is weird

Yeah its because people don't know their legit rating ,even if they are legit some people aren't still sure about it since most new exchange site do scam also

 

[microunit]

Even if the trading fees is low , if they don't like it they might not opt in for it ,since they aren't still sure about the site and its legit rating that's it

yeah most probably, most people don't want to put their money on an exchange where they won't know how long it will last