Betfury difference in House Edge
Exchanges have strict requirements for coins before listing
Coin value shapes the market and holders
Scarce coins are always more expensive than others
International consortium of news organizations developing transparency standards.
New cryptocurrencies are springing up and leaving the market just as quickly. According to experts, only 10% of all existing coins can be considered sustainable and bring profit to their owners. All other coins are dummies. How to distinguish a profitable project from a scam and what requirements for crypto projects are put forward by exchanges today, BeInCrypto discussed with Maria Stankevich, EXMO Exchange Development Director.
– How many coins are there today? How many are listed on your exchange? How many of them are standing and how much rubbish? Do you agree that 90% of coins are dummies?
M.S .: Today, according to the resource coinmarketcap.com, there are 5726 cryptocurrencies on the market. Of course, this is far from the entire pool of assets existing in the cryptocurrency world, there are much more coins. Many projects have not yet applied for addition, some have been rejected due to specific reasons. Unfortunately, not all projects fully bear obligations to investors and invest in business development. The presence of a coin in popular ratings – such as coinmarketcap.com, for example, at least partially, allows us to make sure of its stability and reliability of the project founders.
There are 46 digital assets on our platform that are traded in over 180 currency pairs. The situation is not at all static – and in addition to adding new projects to the listing, we are very closely following the existing ones. If there is no demand for an asset for a long time, or, for example, the price drops to a critical minimum, we delist. For a long time we were proud that we did not have a single delisting on EXMO. Unfortunately, we cannot influence the development of other projects. Therefore, all we can do is to protect our clients from investing in a business that may soon fail or go bankrupt..
2 Years Old Exchange Airdrop !! Listed On Coinmarketcap !! Don’t Miss it !! Only 20K Participants !!
Continuing the topic of the value of coins, it is impossible to say unequivocally that 90% of the volume of tokens declared on the market are not interesting and promising. More than 5,000 cryptocurrencies on coinmarketcap.com have a certain history of creation and development, but, unfortunately, we list only the best of the best, so we cannot accurately assess the quality of the coins we have not studied..
– How do exchanges select coins for placement? What factors does the exchange pay attention to? What criteria are put forward?
M.S .: Each exchange has an exclusively individual listing policy. While selecting projects to add to the listing, my team and I have encountered a “scam” more than once. Therefore, accumulating experience from traditional finance and auditing, we have developed our own system of rules for the selection of projects. In general, consideration of the teams’ application for listing takes from 3-5 days to several weeks.
It is very important for us to be completely confident in the project. The project is evaluated in a comprehensive manner and we take into account all six points:
- From the point of view of the work done, is the idea interesting and promising, is there a working MVP (minimal working prototype), what the roadmap looks like, how the work is progressing, are deadlines and deadlines met.
- From the point of view of the community: what is the general information field around the project, how branches are maintained on specialized forums.
- From the point of view of market value – is your business really useful and necessary for the market??
- From the point of view of the willingness to work on joint marketing and PR: it is important for us that together we can create an interesting information channel and bring your customers to our exchange, and interest our customers in a new interesting coin.
- Team assessment: who drives the project, whether there have been successful projects in the professional history of the team. Most often, we prefer to talk personally with the CEO of the project in order to understand the motivation and plans of the team..
- In addition, recently, legal aspects have had a great influence: we are examining the Legal Opinion coins under the microscope – legal commentary and the company with which we sign a listing agreement.
– How is the listing process going?
M.S .: Listing is done in two ways: using our EXMO Voting platform and the traditional way. With the traditional version, everything is clear: we approve the project, sign the contract and technically add the coin to the exchange. The situation with the voting platform is much more interesting..
In the third quarter of this year, we launched a voting platform, tentatively called EXMO Voting. This initiative has long been requested by the community, in addition, the vote was the next stage in the implementation of the EXMO Coin roadmap. You can vote for your favorite project by sharing a post on FacebookIn June 2019, Facebook announced preparations for the release of the digital currency Libra. The social networking project immediately caught the eye … More, Twitter or by sending a voice to EXM. The price of one vote is symbolic – 150 EXM, after the end of the vote, all tokens are sent back to users’ wallets. The coin with the most votes gets the right to be listed on the exchange.
– How are coins ranked on the exchange? What are the criteria for placing coins on the list??
M.S .: In our case, there is no special magic in placing coins in the list – trading pairs are listed alphabetically. The exception is the EXMO Coin pair to BTC.
– What are the criteria for refusing a coin listing??
M.S .: Above, I have already talked about 6 main points that we take into account when analyzing cases. The absence or weakness of any of these means that the listing is likely to be refused..
– What are the criteria for forming the value of a coin? Why, after listing a coin on the exchange, the value of the coin increases?
M.S .: There are no special features compared to the price of Bitcoin. The value of the coin forms the market, i.e. the price of a coin directly depends on supply and demand. In other words, if the proposed number of tokens is limited in the market, and the demand is high, then the price of such a cryptocurrency will rise. This rule works in the opposite direction, if the supply of the cryptocurrency is high and the demand from traders is low, such an asset will lose value. The scarcity factor drives the value of the coin. In addition, the price can be influenced by the tone of the media (positive publications, project news, or vice versa), as well as the difficulty of mining a token (the higher the difficulty, the more difficult it is to get a coin.
After a coin is listed on the exchange, exchange traders gain access to the asset, which creates an environmentally friendly demand for the coin.
– What Coin Creator Executives Can Do To Get On Your Listing?
M.S .: First of all, go through the 6 main points that guide us in assessing and try to honestly and objectively answer the questions of each of them. In addition, you can always write to us and ask for advice – we have a very friendly listing department, we are always ready to help those who need it to become better..
– Thanks for the conversation!
Watch This BEFORE Subscribing To Sellerboard – In Depth Review! – Online Arbitrage – Charles Ross
All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..
CONTENT Tokens, Frosendrop could be an effective airdrop alternative International consortium of news organizations developing transparency standards….