Exchanges Tokens - page 19. | Bitcointalksearch.org

judeafante

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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.

There's truth to your post, each token created that are centralized depends so much on their platform if the platform fails to generate support or the exchanges is shutdown, there is no usage for the token anymore, so if you are going to buy a token, be sure that the platform or project attach to it is solid and has a lot of support.

freedomgo

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Exchanges now are already making their own token because they are inspired by Binance success, but actually its still useless if they will not development their exchange and compete to the top exchange. When people sees you have a good exchange, that exchange token will become useful in the long run and it will be acceptable for different purpose maybe, and they will be confident to spend because they know it has a good liquidity and a lot of people are trusting it.

Drai

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It's much more complicated than that, many of these new exchanges tend to start with little funds and their tokens serves as a means to generate initial investment to kick-start their platform, unfortunately I have seen some exchanges that pay so much attention to the tokens to the detriment of their exchange because they make the token seem as if all they care about is the token and not the exchange, if you look at every major exchange, they try to refine their product first, make sure it's up to standard because they know that users would buy their tokens and hold as long as they feel that the exchange is secure and would stand the test of time.

fosco333

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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.

It is very common that exchanges has created their own token or coin to promote their exchange.
The value of their token will depends on the demands of the users, so if the value is high, then there are many users using their exchange.

wxa7115

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Quote from: desticy on October 23, 2019, 01:40:26 PM

Exchanges make the very right decision by issuing their tokens because if the exchange becomes successful, the coins of this exchange also become successful, and if you add to this the possibility or condition that the exchange token must be used to receive any services on the exchange itself, this is more increases the price of a exchange token within the exchange and globally.
Therefore, I regret that I did not buy the coins of the TOP exchanges listed in the first post on time.

They made the right decision for themselves not necessary for the market or their customers, and it is easy to see why this is the case, why an exchange needs to create their own coin? To reduce the fees on their exchange? That is not really needed, they could have reduced the fees regardless of whether or not they created their own coin, it is clear to me that they are doing this in order to create a fake demand for their coins.

In return this generates huge profits for them because they are holding most of the coins they created an even if they did not they could always create even more since those coins are centralized, I get why you are disappointed and regret not investing in those coins but those coins are not really necessary in this market and when the exchange disappears those coins will disappear as well

edmundduke

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These exchange tokens are just another fad. Just another cycle in the crypto space, just like we had masternodes etc. A few of the tokens are doing well but in reality its very sketchy territory (especially if you want to do "burns" as US regulators dont really like that)
BCO token used to be really profitable but they enabled KYC and toke a massive hit on their token. Same can happen to any other exchange. (also BNB's day will come eventually)

desticy

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Exchanges make the very right decision by issuing their tokens because if the exchange becomes successful, the coins of this exchange also become successful, and if you add to this the possibility or condition that the exchange token must be used to receive any services on the exchange itself, this is more increases the price of a exchange token within the exchange and globally.
Therefore, I regret that I did not buy the coins of the TOP exchanges listed in the first post on time.

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I think the token that develops the platform where the exchange is and has a high trading volume as mentioned will have a lifespan depending on how the platform is developing, because usually the platform where the exchange can provide many benefits.

enhu

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Quote from: ecnalubma on October 23, 2019, 05:11:04 AM

Its one way of exchanges to maintain a mutual relationship with their users that’s why they provide their own token economy. Established exchanges are likely to survive through this strategy and can generate enough to cover their operating cost and enhance their services.

The outcome however for them releasing own tokens is that they are reducing their chances to earn BTC which is the main goal for the business. There are exchange still not doing it like Bittrex but then same dilemma for the traders, because traders doesn't want BTC to be the transaction fee which they turn to binance still. The market of BNB keeps growing which is why its on top of the market because of all the choices to be make.

ecnalubma

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Its one way of exchanges to maintain a mutual relationship with their users that’s why they provide their own token economy. Established exchanges are likely to survive through this strategy and can generate enough to cover their operating cost and enhance their services.

Byakuga

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If you want to invest in any exchange tokens its good to go for strongest exchanges, they will never fail because of their usability, any dev that wants to list on the exchange must buy some of the token exchange or even IEO projects

Alluro

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The exchange's tokens have a lot of benefits to the users. Because if you are a trader, you can get trading fee discounts. The next thing is the exchanges tokens holders have a chance to participate in their IEOs. You can get good profits with top exchanges IEOs. Most top exchanges are trying to give a good value to their native tokens. I think exchanges tokens are really useful.

SistaFista

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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.

Well, the token is usually used for paying fees with reduced rate and i don't think there will be more options other than that.
Some exchanges offer other function of their token, as a security token, so investors can receive dividend by holding their token,
but their token will be hard to be listed on exchanges because it is a security token.

cryptonx

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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.

Well,, and in my opinion maybe a good exchange token will become a good investments options if the token tradeable on other exchange, not only inside the exchange my friend, such as BNB
Of course when the exchange shut down the token will be useless tokens mate
Because of that, the exchange should keep alive, how ?
Maybe by give a good security and features to all traders, and thats will attrack more users from the exchange, because traders or users is very important for any exchange my friend

Ultimist

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You're right, actually. To exchange tokens had value it is necessary to somehow expand its capabilities. Then the coin will be in even greater demand.

electronicash

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Quote from: Wapfika on October 22, 2019, 02:43:29 PM

Quote from: prehisto on October 22, 2019, 12:43:46 PM

The scenario you are describing is no different to any other project with their tokens. if the project goes bust,their token goes also.
You said it yourself in the first part of the post, there is no use of token outside the exchnage and no community will change that.

Even some exchanges token are listed in different other exchanges, it didn't guarantee that it be safe to have it since once that exchange close definitely their token too for there'll be no more use for it. So I'm just using it for trading purposes in their exchanges more than as a holding like KCS and BNB.

you wouldn't be trading BNB on some other exchange if you have no plans to use it too in the binance exchange as well. exchange coins have its purpose so long as the exchange are being used by traders. i don't see traders in crypto to diminish gradually in fact we are increasing more and more. more crypto users are coming every day which will be utilizing these tokens too.

Wapfika

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Quote from: prehisto on October 22, 2019, 12:43:46 PM

The scenario you are describing is no different to any other project with their tokens. if the project goes bust,their token goes also.
You said it yourself in the first part of the post, there is no use of token outside the exchnage and no community will change that.

Even some exchanges token are listed in different other exchanges, it didn't guarantee that it be safe to have it since once that exchange close definitely their token too for there'll be no more use for it. So I'm just using it for trading purposes in their exchanges more than as a holding like KCS and BNB.

batang_bitcoin

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They are advertising their own exchange tokens so what's the matter with those? we don't have to advertise it but if you like referring them to other traders, you can and tell your experience. Huge exchange tokens doesn't really need this because they're already popular and the people will just come to them and enjoy the benefits that they offer for owning those tokens. The best so far that I've seen are those discounted fees and also having dividends.

ashmodeus

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Quote from: cichaescut on October 22, 2019, 11:46:18 AM

It is quite obvious that exchange tokens are representing a current trend, but the funny thing is that a lot of shitty exchanges have released their tokens as well, because they saw how great is Binance doing. But the problem is that they cannot keep the service level as Binance, thats why they are most likely to fail.

yes that true , almost all of exchange came from 2018 era do same thing like binance, but well i cant see any good progress of that. probably that exchange have no serious plan or doesn't have a next plan.

Quote from: Wysi on October 22, 2019, 11:31:11 AM

Exchange tokens are always profitable investment if the exchange has good volume and more pairs and altcoins because most of us prefer using exchange tokens for paying the transfer fee as it gives some sort of discount to us. I have closely witnessed the way BNB (Binance) grew up because of it's market dominant as most of the valuable tokens are launched through binance and the users need to have binance to buy the tokens during sale which makes them to swap their coins into BNB as a result it increases the demand thus increasing the value.

not always, even if they have a good volume such as bibox exchange,well, bibox have a good oppotunity on end of 2017 - early 2018, but idk what happen on bibox exchange, the investor seems lost their trust, mass sell of bibox token on march 2018 .

ufaiz50

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Do you know that BNB is already in another exchange? YO has also been listed on several exchange sites. To get a large community, registering their tokens with other exchangers is a must. This is done by BNB and the BNB community is getting bigger, I think YO is like that too. But in my opinion the main concept of the token is to introduce their site more, that's why the benefits if you have a token like BNB can only be used in binance.

Topic: Exchanges Tokens - page 19. (Read 33517 times)