yes, if there is no community that supports and plays a role in tokens or exchanges, making the project end up building a community is very important to make the project more widely known by the cryptocurrency community around the world, this must be done to increase the exchange's popularity and can be in trust by everyone.
Topic: Exchanges Tokens (Read 33517 times)
In one way or other it is a must to keep the market active. When it comes to exchange backed altcoins, the network is active through the trading activities. Most of the exchange backed altcoins mentioned by the OP are in good growth. Another thing these are low risk investment on cryptocurrencies from my view, because at any point the need of exchange won't come to an end. This assures of the long lasting, and we can prioritise these on long term holding needs buying at the lowest price possible during the bear trend.
I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
Almost all exchanges tokens are only created to be used within the exchange, for lower TX fees, and other goodies, like the way only BNB holders participate in binance launch pad, and yo holders participate in any IEO on Yobit exchange, most exchanges don't really bother to go further than that, I remember earlier this year when someone asked yobits telegram moderator if there were plans to list their yo token on other exchanges, they replied "No", so that means exchanges don't really bother much about been on other exchanges, but I'm glad binance team has created a standard for their BNB token in and outside their exchange.According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
This is one of the reasons why investing or holding onto exchanges tokens are risky,because so many of them outside their exchange they are nothing, they only prove to be vital when used on their exchange, no strong community to back their token if their exchange eventually close down.
I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
I remember a new exchange launched back in 2018 i guess with name cobinhood and tokens called cob, the project, the platform and interface all looked promising and they claimed to be the only 0 cost trading platform. Everything was going on nicely but sudeenly it crashed and most probably there was some personal clashes among team members behind the scenes that resulted in closure of exchange i had over 10k COB tokens that are worthless now. But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
good idea, but its better to increase the security system of the exchange, because most of exchange now become the target from hackers
if the security is good, people will trade in confidence without any doubt and for sure this will increase the trust from traders to buy the exchange tokens buddy
I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
Exchange tokens have not performed well to be honest other than a few exceptions especially as were expected. May be because the expectations were too high after the success of binance and bnb.But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
Till day there have been no new exchange with a token that has impressed me so i think this market has kind of saturated for now.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
So true of your insight on this. I have a couple of Tidex tokens from the Tidex Exchange (it's an exchange token too) sometimes I get worried of what could likely happen to my hodling if things were to turn south for the exchange because Tidex is only listed on just that one exchange. But like BNB, good things of life don't come easy. They take time. I remember when BNB got listed on its own exchange and how it dragged around less than 30 cents for weeks before spiralling onto a bull run and hitting an ATH. I strongly believe that every exchange token is laudable and a good buy.
Exchange Tokens refers to an Exchange's own Token.
There are many Exchange Tokens that have already become popular.
Such as BNB
Again, there are some Exchange Tokens that have already been dumped all the time.
There are many Exchange Tokens that have already become popular.
Such as BNB
Again, there are some Exchange Tokens that have already been dumped all the time.
there is no difficulty adding new members or support from crypto users. but this is related to the top platform companies having their own coins such as Binance. traders & investors are no stranger to both the Binance platform and its coin BNB.
Yes, because platforms that are already well-known and popular will always be better known by everyone including new people in crypto, because when people are just starting to study hard, it's clear that they will find platforms that are more famous first than those that are not well known.
there is no difficulty adding new members or support from crypto users. but this is related to the top platform companies having their own coins such as Binance. traders & investors are no stranger to both the Binance platform and its coin BNB.
Exchange is the way only how to sell your coin and not give guarantee for coin keep growing up if listed and stable on some exchange market but have big risk when some coin delist from exchange market. I know every day many token listed on exchange but not always token become worth and give us much profit because many exchange just get fee only for listing without check how potential coin for listing on their exchange. Now we found many fake token only listed few month and later delist from exchange because have bad result with lower price always, token is not guarantee for us always get much profit.
I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
in my opinion it is very difficult to make token from an exchange that can have functions outside the project, because the project of the token is an exchange, so the team must focus on the exchange to be the best and that will make a lot of people use the exchange, then it will make the exchange or the token can survive, so the most important thing in my opinion is to develop the exchange for the better and not focus on making the function of the token outside the exchange, because if the exchange can be better than other exchanges, then I am sure that many people will use the exchange and make the token useful.
Exchanges take entry in crypto market, not for shut themselves down but run their business through it. I found many reason for using any exchanges tokens.as instance, If big exchanges launch their token, they also list it as pair with each of those currency, who are already available on that exchange.thus they collect their token price. Investors and holders may become pofitable from that token cause exchange fee can be minimize through that token, sometimes top token holders get discount & others facilities from exchanges
in short words, we got a lot of benefits by holding an exchange tokens in exchange rigth ?
but we should know if not all exchange token will give us a good profit, because its depends on the exchange volume and transactions mate and other factors too
Exchanges take entry in crypto market, not for shut themselves down but run their business through it. I found many reason for using any exchanges tokens.as instance, If big exchanges launch their token, they also list it as pair with each of those currency, who are already available on that exchange.thus they collect their token price. Investors and holders may become pofitable from that token cause exchange fee can be minimize through that token, sometimes top token holders get discount & others facilities from exchanges
I really observe that, many exchange has they're own coin created, which is very good one towards the community, but is good for very exchange to develop their own Blockchain for more expansion of the crypto currency industries.
Therefore, it is advisable for an exchange to have its own blockchain that can create various types of tokens in order to expand the reach of its community. if it only creates tokens and stands on the blockchain outside the exchange then it will not be independent
I consider investing on exchanges tokens a very good decision, because surely the exchanges will have many promotions that benefit
investors to make their tokens popular.
Known exchange will surely do that, they will try experimenting new ideas to bring more users to their platforms and for that they utility token will find it usages and investors will not be hard to decide joining with the ride.investors to make their tokens popular.
Quote
For example, staking at BNB will get a lot of benefits, therefore more people will decide to buy
BNB in the end.
We already see the success with BNB, all those tokens that being introduced really play a role for the exchange token to gainedBNB in the end.
value.
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Apart from BNB, there are still many profitable tokens exchanges, including UNI, OKB and HT. Especially UNI tokens
that are currently hype, so investing in UNI tokens provides many benefits.
that are currently hype, so investing in UNI tokens provides many benefits.
The hypes of DeFi brings a lots of money to those early users as they received free airdrops which very decent just by using
the exchange.
I consider investing on exchanges tokens a very good decision, because surely the exchanges will have many promotions that benefit
investors to make their tokens popular. For example, staking at BNB will get a lot of benefits, therefore more people will decide to buy
BNB in the end. Apart from BNB, there are still many profitable tokens exchanges, including UNI, OKB and HT. Especially UNI tokens
that are currently hype, so investing in UNI tokens provides many benefits.
investors to make their tokens popular. For example, staking at BNB will get a lot of benefits, therefore more people will decide to buy
BNB in the end. Apart from BNB, there are still many profitable tokens exchanges, including UNI, OKB and HT. Especially UNI tokens
that are currently hype, so investing in UNI tokens provides many benefits.
It is extremely difficult to come up with a coin that exists only because of the existence of the exchange.
Binance is a unique exchange that was able to create extensive use for its own coin within its ecosystem, thereby significantly increasing its usefulness and value.
However, the rest of the exchange coins remain useful only within the framework of speculation.
Binance is a unique exchange that was able to create extensive use for its own coin within its ecosystem, thereby significantly increasing its usefulness and value.
However, the rest of the exchange coins remain useful only within the framework of speculation.
I only trust Binance token right now and Uni token for decentralized exchange, they are the tokens and coins with good potentials there are so many exchange with their own token but they are nowhere the top, and the community did not support them because they only rely in the exchange platform and some of these token exchanges are not in the top of their industry.
It is extremely difficult to come up with a coin that exists only because of the existence of the exchange.
Binance is a unique exchange that was able to create extensive use for its own coin within its ecosystem, thereby significantly increasing its usefulness and value.
However, the rest of the exchange coins remain useful only within the framework of speculation.
Binance is a unique exchange that was able to create extensive use for its own coin within its ecosystem, thereby significantly increasing its usefulness and value.
However, the rest of the exchange coins remain useful only within the framework of speculation.
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