Bittrex coin, why not? - page 3. | Bitcointalksearch.org

Coin BTC

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Quote from: numeracci on June 17, 2019, 06:41:23 AM

Hi people, just wondering why Bittrex that is a very big exchange doesn't have its own coin like BNB or KCS.
Maybe there's a reason.

Bittrex is not based on ICO. The presence of Bittrex immediately made an exchange without conducting an ICO campaign. I think it's the same as INDODAX, Asia's biggest market. INDODAX also does not have its own coins. But it only supports new coins, like Tokenomy.
It is possible that a market like this builds its company by using its own capital, not from investors, so they don't need to promote their exchange with the guarantee of the coins they create.

bengsabeng

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maybe they are currently still focused on developing exchanges and not thinking about making their own coins, but in the future maybe they will make their own coins.

Soberb

jr. member

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I think Bittrex exchange may launch its own coin in the near future. Maybe it does not require additional funds to expand its service. Or maybe the situation is not good enough for bittrex to launch its own coin. Or maybe they are planning internally to launch its coin.

Boriss

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It's obvious that they have other ways of getting in fresh capital money. They don't need their own coin to the the same thing with even more involvement that requires more people from their side and additional worries, not to mention effort to be clear from breaking any law or regulation they must do regarding the strict laws that binds them in the states.

On the other side people would expect to gain something from that coin and that means less money for the exchange from the current fees they collect.

masterrex

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Maybe Bittrex is just focusing on its exchange and not interested in entering on the more complicated aspect such as mentaining with own cryptocurrency. Im sure Bittrex has a lot of reason why this US base exchange has not issue its own cryptocurrency maybe in due time Bittrex will surprise us all just keep watch!

qtronix

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You're right, if they didn't release their coin, then there's a reason. There are so many different coins on the crypto market. Perhaps this exchange has other priorities and devote more work to improve their service, not fixating on creating their own coins.

(o)(o)ilikeboobs(o)(o)

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Quote from: numeracci on June 17, 2019, 06:41:23 AM

Hi people, just wondering why Bittrex that is a very big exchange doesn't have its own coin like BNB or KCS.
Maybe there's a reason.

Bittrex is located in the US, and their laws didn't allow an exchange to have their own coin. Feels like money washer.
And for more, bittrex is not that attractive to new investors. An exchange that Delisted lots of coins (In their hightime) is absolutely not a choice for me!

ducdr

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Quote from: ?? on ??

Binance success place them in the top as this utility token really receives all the benefits after being successful in this field, there's some chances that
bittrex also considering to create their own versions of coins maybe the idea is there but the executions still in the process or still on talk.

Binance born at the right period and their team, especially CZ are very excellently run their marketing, give aways, airdrops, bounties to take over Poloniex, Bittrex. Years later, Binance has built its diversify products and utilities for their customers, which will help Binance to maintain its high position among crypto exchanges.

bangdol

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Quote from: cryptothreads on July 26, 2019, 10:15:09 AM

United States is very serious about managing crypto and any action requires major censorship. I think Bittrex cannot issue this coin because this is a prohibition in its policy. In my opinion, Bittrex should only be a normal exchange because I still like to use exchanges to participate in the proposed IEO projects and many projects have been success in this exchange.

it's not impossible, this is just a regulatory problem that is there. if the government shifts cloudy and makes it easier to regulate ICO projects or making new crypto it will be very possible. this is just a matter of chance.

ducdr

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Quote from: asrafkhairulazzam22 on July 26, 2019, 08:45:55 AM

bittrex is in the USA, we know that USA is very opposed to the existence of crypto, it is possible that bittrex was not allowed to make its own coins in the USA. so that until now they have not made it

It is incorrect. the USA government just want to implement strict rules, and managements, laws on crypto. They will not be able to restrict or wipe out crypto currencies. Because blockchain and crypto currencies are future of human civilization, and the USA are unable to damage that revolution. They should make law managements, and also adapt themselves to changes in crypto.

cryptothreads

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Quote from: ?? on ??

They probably think about this when Binance was successfully created its own utility token but Im sure regulatory issues might be the reasons why they did not attempt to create its own utility token or maybe in the future? Why not? But as long as USA are too strict for digital coins this may not be considered at the moment.

United States is very serious about managing crypto and any action requires major censorship. I think Bittrex cannot issue this coin because this is a prohibition in its policy. In my opinion, Bittrex should only be a normal exchange because I still like to use exchanges to participate in the proposed IEO projects and many projects have been success in this exchange.

target

legendary

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Yes. US regulation is too strict for creating security tokens.

They were one of the old exchange that is still alive today and back those days native token of exchanges weren't yet something in the mind of developers. Same thing with Poloniex. Bittrex now has created a new version of thier own like the Bitsdaq which right now has the BQQQ.

Drai

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Bittrex might not want to have their own coin but a subsidiary exchange if theirs (Bitsdaq) has a token already, I have to admit that it's kinda odd since most exchanges has issued their tokens especially in this era of IEOs but Bittrex has held their stand.

CryptoIyke

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Bitsdaq was known to have been a partner project of Bittrex and they have already launched their coin, I doubt if Bittrex would be able to go same way. Bittrex should just be Unique and develop something different from what Binance have done having been here before Binance

asrafkhairulazzam22

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bittrex is in the USA, we know that USA is very opposed to the existence of crypto, it is possible that bittrex was not allowed to make its own coins in the USA. so that until now they have not made it

wack slacker

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Quote from: numeracci on June 17, 2019, 06:41:23 AM

Hi people, just wondering why Bittrex that is a very big exchange doesn't have its own coin like BNB or KCS.
Maybe there's a reason.

I suspect bittrex has been unable to upgrade its systems further, although they have transferred the technology to Bitsdaq as a new trading platform. They do not try to find ways to change their mode of operation. The first is that they do not have a model to enjoy commission of transaction fees from introducing new members. Their transaction fees are higher than other exchanges by 0.25% higher than Houbi, Binance.
Because they registered a company in the US, it was more difficult to allow them to launch Bittrex's own token, with too many rules.

taratorly

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Bittrex has to solve some problems first. SEC dedicate them and they delisted many coins for US Citizens. BTW, Binance is preparing US exchange for US citizens. So Binance is coming. I don't give any chance to Bittrex against Binance!

MCDev

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Quote from: numeracci on June 17, 2019, 06:41:23 AM

Hi people, just wondering why Bittrex that is a very big exchange doesn't have its own coin like BNB or KCS.
Maybe there's a reason.

May be due to US laws. Bittrex cannot issue their tokens. But I know a recent exchange is a partner of Bittrex and they have released their token.

ozyer

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Quote from: omone1 on June 17, 2019, 02:38:08 PM

Bittrex is an exchange that like to stay compliance with US financial system and laws, I pretty doubt they will have their native token like other exchanges. I read of bittrex backing bitsdaq exchange based in Singapore and they have their native token called tagged bqqq, maybe Binance will have a stalk in the exchange.

Currently Bittrex wallet already has 1,100,000 bqqq tokens on its internal. And continues to increase....

joshy23

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Quote from: kanmo on June 21, 2019, 04:52:17 PM

Bittrex exchange should have had its own coin but my thinking I that its operation in united state is really affecting the coin. The laws of the land does not really favour its operations.

Maybe the reason why they are having a hard time figuring it out whether to create with this consequences that will really affects the sale and
facilitation of this coin if ever they will create one, bittrex is a business and under that jurisdictions.

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