Since the beginning of 2019, the market closed about six exchanges, trading Althingi. Recently about its closure was announced Coinexchange Indian and Thai BitcoinCo in October will close ExCodex and DC-Ex platform officially reported no trading them.
According to the head of cryptocurrency exchanges BXB kun Pit Loka, the main reason is the lack of permanent real traders that make money. Because of this, profits from exchanges are small, and the costs of maintaining operations, safety, etc. is very significant. Another reason is copying each other and the absence of new exchange-traded products.
Besides, according to Locke, traders prefer trading growing in the price of a bitcoin than falling in value Althingi. The head of the BXB Exchange says:
«A new round of growth of bitcoin this year has not led to the industry as many people as came last time. Roughly speaking, everyone who wanted to engage in trading of cryptocurrencies are already doing. According to the most optimistic estimates, about 8-10 million people worldwide who move from place to place in search of better conditions and commissions. One of the main challenges of the market today to attract new traders, those not in the industry of cryptocurrency. In my opinion, benefit those who would lead newcomers to participate in KryptoStorage and can make their trading profitable.»
According to experts, the major exchanges that are now in the top, has attracted its users in 2017 and still live by this amount.
«The new exchanges that entered the market in 2018, hoping that there will be lots of traders who will trade. Perhaps they have not laid the necessary financial cushion for the activities in three to five years, hoping to quickly gain the necessary momentum, but that did not happen. If you go to the list of exchanges, in General, you will see the same interface, the same set of services. The battle for new users will benefit those who will provide new products before anyone else, for example, gamification of trading, and will include a listing of new altcoins with large user communities (such as Ravencoin). We follow precisely this strategy», concluded kun Phat Locke.