Well I honestly never thought we would come at a point where there could possibly be an oversaturation of the market in regards to cryptocurrency exchanges.
Over the course of the past few weeks, we have seen several new exchanges pop up : CoinMarket, FreshMarket,SwissCex, Openex, …..
Don’t get me wrong, we definitely need more exchanges that run properly. With Cryptsy being a 50/50 chance of working properly, CoinedUp becoming slower than a snail and MCXNow still not being trusted by too many people, there are opportunities.
However, seeing as many new exchanges popping up in such a short span of time, might not be the best idea either. Especially when exchanges like SwissCex lists a coin on the day it has been released.
Too many exchanges will lead to fragmentation of the cryptocurrency market, and it’s already hard enough for most people to keep track of everything that’s going on.
There is a certain kind of exchange we desperately need though : an exchange allowing you to sell altcoins in exchange for EURO and other fiat currencies. Not everyone in the world (wants to) deal(s) with US Dollars.
We’ll see if these new exchanges can bring us what we want further down the line. We never want to discourage anyone from starting such a project, but there’s more to running an exchange than just making a quick profit.