Exchanges Tokens - page 11. | Bitcointalksearch.org

Kersh768

sr. member

Activity: 658

Merit: 256

Freshdice.com

Quote from: HammadAli on October 22, 2019, 12:39:41 AM

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.

Exchanges must not just promote their tokens or coins to public but also their own exchange as well because I do believe that before an exchange releases its own coin in the market, it must have first establish its strong position in the public wherein it has a high credibility standard to attract traders to get into their exchange and at the same time know their token so that they could be hitting two birds in one stone in a sense that they have been known through their good aspects as an exchange and at the same time let the people know about their own token. I believe as long as the credibility stands within the exchange, people will surely get along with it and the exchange will never fall out of people's attention so their exchange will keep working or operating same as with their tokens as well in the market.

TheAndy500

sr. member

Activity: 1232

Merit: 266

> CAMPAIGN MANAGER < https://t.me/TheAndy500

Quote from: memedennis on December 05, 2019, 10:37:23 AM

i think as long as the Exchange itself survives and keeps activities going smoothly , listing some good project the Exchange token cannot die. rather they will increase in value.

I think OP meant that by promoting its token outside, exchange strengthens its position in the market and increases credibility. In the event of something bad happening, or even an investor taking over the exchange and changing the name, an not promoted outside token may immediately lose its value.

letyouearn

legendary

Activity: 1722

Merit: 1014

Quote from: HammadAli on October 22, 2019, 12:39:41 AM

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.

All this words you are saying are quite fair not only when talking about exchanges. Every utility token has such a problem. And not only utility by the way. In fact - most of the tokens have it.

memedennis

jr. member

Activity: 53

Merit: 1

i think as long as the Exchange itself survives and keeps activities going smoothly , listing some good project the Exchange token cannot die. rather they will increase in value.

Coltpython

member

Activity: 700

Merit: 11

The same principle applies to non-exchange tokens. They need to be backed by a working project without which they become worthless shitcoins. Even having a working project is not enough to prevent an exchange coin from dumping in price. Just take a look at BQQQ from Bitsdaq exchange. Despite all the hype, it has sent my $300 investment tumbling to a near useless value of $15.

Mianae

member

Activity: 798

Merit: 14

Quote from: HammadAli on October 22, 2019, 12:39:41 AM

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.

The same fate awaits every utility token once the project ceases to exist the token becomes useless. Look at Sharpe capital their token is useless now the project has shut down. An exchange with liquid can survive the time be it hard or soft times.

setialovers

member

Activity: 812

Merit: 11

Quote from: HammadAli on October 22, 2019, 12:39:41 AM

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.

One way for exchangers to get money is from transaction fees but by selling native tokens, exchangers will get extra money and I think this is normal as long as the exchanger has a good roadmap and development.

gundala

full member

Activity: 896

Merit: 108

The main function of the token exchange is to provide convenience in conducting internal transactions with the exchange. Usually it will provide fees and price more than the use of coins or other tokem. Of course for its development will be carried out wider marketing, for example, BNB which is already available on various exchanges. The main key is to establish a good market capacity so that many who use the coin exchange not only as a formality in the exchange but also in general use. This all depends on the quality of each.

Darktongue

sr. member

Activity: 574

Merit: 250

Quote from: HammadAli on October 22, 2019, 12:39:41 AM

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.

Every where in every plan Binance coin is always good after few top coin. Suppose Binance exchange can easily recover because Binance blockchain already exists. Even few months before Binance USD launched. I think most of the exchange will do the same if they get huge inspire from exchange. After huge success Binance blockchain launched first quarter this year.

InwardContour

sr. member

Activity: 644

Merit: 260

Quote from: Sacramentus on November 26, 2019, 07:06:58 PM

Have you had a better look on bnb and study the project well? Some exchange token will die but that wouldn't be inclusive of platform like bnb whose project development is fast growing. Also, this does not only apply to cryptocurrency but every other assets including the traditional market

It's true that BNB and a few other exchange coins/tokens are really impressive, but their success in terms of price is highly dependent on the exchange platform. Imagine shutting down an exchange and automatically it entails it will no longer be base pair on that exchange, this will be detrimental to the said exchange token. However, some exchange tokens are used for other purposes like playing games, paying for vacations, etc and not only limited to their use on the exchange platform.

ameliana

full member

Activity: 887

Merit: 100

Some tokens that continue to support their platform will certainly continue to grow if the platform continues to increase in volume and some of the tokens that you mentioned of course already have a very wide community so for the price issue they certainly don't need to question anymore especially if the platform continues to improve the system so that the token holder feel comfortable to hold it.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: ?? on ??

Crypto exchanges now compete very fiercely with each other.Therefore, listing the tokens of a competitor's exchange is not profitable for them.

If that was the case, then BNB should not be traded anywhere other than Binance and the DEX sites. And similarly, the trading of Huobi Token would have been restricted to the Huobi exchange. But as I can see from the coinmarketcap data, BNB is being traded in dozens of different exchanges, and some of its largest volumes come from exchanges such as P2PB2B, Coinsbit and BKEX (in addition to Binance, Binance DEX, Binance US and Binance Jersey). Similarly, the Huobi Token is being traded in a large number of exchanges including BiKi, DragonEX and BKEX in addition to Huobi Global, Huobi Russia and Huobi Korea.

Goodvalony

member

Activity: 616

Merit: 16

that is why i invested in binance coin because it has other use case. the binance chain brought a different agenda to the binance coin. creating a platform for other projects to migrate and develop more using the binance project but i think there are other features that needs to be explore not only the smart contract. apart from trading fees, they can try creating other platforms that will allow exchanges to buy products from websites using their tokens as a means of authentication and authorization.

mdzahed134

sr. member

Activity: 2226

Merit: 259

Buzz App - Spin wheel, farm rewards

Quote from: Bim abk on November 28, 2019, 01:51:58 AM

Quote from: TanakabZX on November 27, 2019, 12:05:02 AM

Exchange tokens can bring you the biggest profit in a short period of time frame,if the exchange is a very good one and well planned with experience team then its worth giving a shot, look what bitmax and okex token has become now

You seem to have to look at the price movements of exchange tokens, for example BNB which has a fairly stable value and I think its use is more functional within their platform. and I think that it does not provide profits that are always fast, maybe for long-term investments that can be utilized, but to look for quick profits, BNB has more stable movements.

BNB is launched from biggest exchange that's why this is absolutely promising coin even it’s top ranking in coinmarketcap among all of others exchanges tokens. Secondly, i think KuCoin Share tokens is brightest platform so that i am very concern to invest here.

Bim abk

sr. member

Activity: 896

Merit: 251

Quote from: TanakabZX on November 27, 2019, 12:05:02 AM

Exchange tokens can bring you the biggest profit in a short period of time frame,if the exchange is a very good one and well planned with experience team then its worth giving a shot, look what bitmax and okex token has become now

You seem to have to look at the price movements of exchange tokens, for example BNB which has a fairly stable value and I think its use is more functional within their platform. and I think that it does not provide profits that are always fast, maybe for long-term investments that can be utilized, but to look for quick profits, BNB has more stable movements.

soulripper

full member

Activity: 381

Merit: 101

Quote from: itos84 on November 28, 2019, 01:38:38 AM

Quote from: dnsokoljuk on November 26, 2019, 01:52:39 PM

Quote from: HammadAli on October 22, 2019, 12:39:41 AM

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.

Too many exchanges with own tokens. They should create something like Binance coin - own blockchain or something else. It will give a new life for echange coins.

Agree! Binance is really good! For me the most important thing is the security. I remember exchanges from 2013 almost all went dead because they lost funds due to hacking.

The most important thing on exchange is their security. What is the used of their token if their security can be easily being broken by hacker. I would pick exchanges that has a very tight security measurement and not just to look at their token only.

itos84

copper member

Activity: 111

Merit: 6

wunbit.com Crypto Gaming Arcade

Quote from: dnsokoljuk on November 26, 2019, 01:52:39 PM

Quote from: HammadAli on October 22, 2019, 12:39:41 AM

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.

Too many exchanges with own tokens. They should create something like Binance coin - own blockchain or something else. It will give a new life for echange coins.

Agree! Binance is really good! For me the most important thing is the security. I remember exchanges from 2013 almost all went dead because they lost funds due to hacking.

TanakabZX

member

Activity: 504

Merit: 16

Exchange tokens can bring you the biggest profit in a short period of time frame,if the exchange is a very good one and well planned with experience team then its worth giving a shot, look what bitmax and okex token has become now

Sacramentus

jr. member

Activity: 448

Merit: 2

Have you had a better look on bnb and study the project well? Some exchange token will die but that wouldn't be inclusive of platform like bnb whose project development is fast growing. Also, this does not only apply to cryptocurrency but every other assets including the traditional market

tiptopgemdotcom

legendary

Activity: 1736

Merit: 1000

Truly decentralized stable asset

Quote from: royalfestus on November 26, 2019, 04:55:08 PM

I understand his point but I thought he wants to suggest solution for the exchanges. It is difficult to hold on to exchange coin but the exchanges are also smart enough to compel traders and investors in some case, what can we say of the case of holding BNB 3 months before IEO to enable investors. Exchanges produces more richer bitcoin holders than ever and I think this give then capacity to move into other platform of blockchain and crypto use. Exchanges now have stable coins that can be used in online trade.

The smart exchanges want to make money too, their administration also makes marketing for attracting the new crypto traders to their platform. Stable coins are not tradeable for the short timeframes, only long term liquidations can be used for the stable coins, in my opinion. The capacity of the exchanges suggests the traders look at elsewhere for the big trading strategies.

Topic: Exchanges Tokens - page 11. (Read 33510 times)