Topic: Exchanges Tokens - page 4. (Read 33517 times)
The main reason exchange create their own tokens is to bring more volume to their exchanges, they offer some features you could do only with that tokens like Voting, etc but the bad news is if that exchange get hack or a small leakage the price fell down like a freefall, I guess that makes that tokens Centralized and we cant call exchange tokens Decentralized tokens!
My worry is that such token will die if the exchange trading volume goes down. Some of the token can only be traded in the same exchange only, like KCS. If exchange token can make themselves visible in other exchanges that will be fine
KCS tokens are very good tokens even though KCS is only traded on the Kucoin exchange, because the Kucoin exchange is also a good exchange and the trading volume there is often stable although sometimes there is a slight decrease in the not so long term.
Launching a separate token for each exchange just to get some incentives in trading, get shares from the transaction fee pool, join the IEO, and some other benefits. Depending on the exchange's strategy, how valuable their tokens are. Not any exchange that creates their tokens is good because they need to be very creative for people to buy and keep them.
My worry is that such token will die if the exchange trading volume goes down. Some of the token can only be traded in the same exchange only, like KCS. If exchange token can make themselves visible in other exchanges that will be fine
Many exhange token are so useless presently.. Can't count the numerous I got in the past, still holding and so useless in value. Compared to the top 10 like binance, huobi, kucoin and others. One thing is I presently no longer believe in new project exchange token, they are perfect waste of time, when it comes to investment.
the best token exchange to date in my opinion is BNB other than that nothing else, BNB has a great future developments that always look positive
Apart from that the BNB volume is high on every exchanger it's not wrong if you invest in BNB and I continue to invest in BNB until now
Apart from that the BNB volume is high on every exchanger it's not wrong if you invest in BNB and I continue to invest in BNB until now
Maybe not only Binance has its own token which is famous for its BNB, it even existed before Binance was founded, for example the mercatox exchange, which promoted its exchange by holding a bounty in 2016 and creating their token called MERCA, and they successfully promoted their exchange and until now currently their exchange is still going well, indeed Binance is still the best exchange in the world this year, even I don't doubt the tokens they have like BNB ..
I really hope that there will be more and more exchanges like this to help and expand Digital / Crypto currencies in the future ...
I really hope that there will be more and more exchanges like this to help and expand Digital / Crypto currencies in the future ...
Honestly Binance has really impacted a lot of positivity in crypto space. I've been holding BNB since 7$, sold some but still keeping at least 700$ worth in my portfolio for long term. Reason being Binance keeps building, new innovations and awesome surprises from time to time. I remember when most exchanges created their own tokens due to the IEO hype, hence making exchange tokens trend. Now Exchange tokens for those which didn't keep up with development are almost worthless, like catex, vindax and the likes. People who invested hugely in some of these exchange tokens are in big loss.
Exchange tokens is the way of binance to get more liquidity for there exchange. They are holding most of this and the only thing that keeps there token value rise is because of speculation. Binance is the first exchange to introduce there coin if I remember correctly that's they have the greatest value coin in terms of ROI. Good for you that you still holding on BNB. I believe that there is still a lot of potential growth for it due to increasing trading volume of binance. There burning feature makes this coin more valuable over time.
Maybe not only Binance has its own token which is famous for its BNB, it even existed before Binance was founded, for example the mercatox exchange, which promoted its exchange by holding a bounty in 2016 and creating their token called MERCA, and they successfully promoted their exchange and until now currently their exchange is still going well, indeed Binance is still the best exchange in the world this year, even I don't doubt the tokens they have like BNB ..
I really hope that there will be more and more exchanges like this to help and expand Digital / Crypto currencies in the future ...
I really hope that there will be more and more exchanges like this to help and expand Digital / Crypto currencies in the future ...
Honestly Binance has really impacted a lot of positivity in crypto space. I've been holding BNB since 7$, sold some but still keeping at least 700$ worth in my portfolio for long term. Reason being Binance keeps building, new innovations and awesome surprises from time to time. I remember when most exchanges created their own tokens due to the IEO hype, hence making exchange tokens trend. Now Exchange tokens for those which didn't keep up with development are almost worthless, like catex, vindax and the likes. People who invested hugely in some of these exchange tokens are in big loss.
This is one of the methods to increase investors to invest in coins, such as the BNB coin which is provided on the BINANCE exchange, all of which are cryptocurrency investment techniques.
Maybe not only Binance has its own token which is famous for its BNB, it even existed before Binance was founded, for example the mercatox exchange, which promoted its exchange by holding a bounty in 2016 and creating their token called MERCA, and they successfully promoted their exchange and until now currently their exchange is still going well, indeed Binance is still the best exchange in the world this year, even I don't doubt the tokens they have like BNB ..
I really hope that there will be more and more exchanges like this to help and expand Digital / Crypto currencies in the future ...
I really hope that there will be more and more exchanges like this to help and expand Digital / Crypto currencies in the future ...
Almost not all token exchange is good in the market, few of them only remain on top in the market like Bnb, Okex, Bibox, Houbi, and more.
And I guess in my own opinion as long as there is a buyer and seller even their exchange has been close the coin remains exist, but I never saw like this happen to any of the exchange so far.
And I guess in my own opinion as long as there is a buyer and seller even their exchange has been close the coin remains exist, but I never saw like this happen to any of the exchange so far.
Exchange tokens derive their value from the use case placed on the tokens. Bnb is one of the most valuable exchange token because the exchange has created several use case and platform for the tokens. Bnb is listed across several exchanges and that has given it an aura of superiority among other exchange tokens. Before investing in an exchange token its best to consider the standard as well as the popularity of the exchange before making any commitment.
I think it is strategy the exchange , not promote coin his to the exchange other because he didn t want pay and took a lot of advantage since coin that it was him only to the his own , look just the large make coin like that , because he have a name
I find exchange tokens to be extremely beneficial. In ProBit Exchange, I can pay my trading fees using PROB (their token). And I can lower my trading fees to 0.03% if I stake PROB. So, yeah it has benefitted me A LOT!!
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.
I also agree with you about this. Applicability of the exchange coins is just packing on their exchange and there are not yet used for usefull other purposes.
Exchange tokens are tied to the success of the exchange, the most practising exchange token we have now is bnb, I must confess that binance coin is the only exchange tokens that you can find across several exchanges and that has increased its liquidity and volume. In securing exchange tokens, its wise to consider the exchange, I personally secured some catex exchange tokens with ticker CATT, that tokens has become a burden to me, as I can't afford to dump it at the present value because it won't pay my gas.
Tokens is also good if it seems like legit with quality and trusted particularly if the value is high ,as far as I know almost all investors are still love the real token as lucky charms aside from respect to the authors.
Any scam can now be pumped up with a price, this is not a sign of a good token
Tokens is also good if it seems like legit with quality and trusted particularly if the value is high ,as far as I know almost all investors are still love the real token as lucky charms aside from respect to the authors.
Exchanges tokens are interesting and very good for long term hold depending on how active the exchange is, BNB token seem like the best exchange token at the moment, followed by OKB and HT (Huobi), my advice is to go for popular exchanges tokens and stay way from new exchanges tokens
Yes the finances of the token are closely related to the how well the exchange is doing in terms of trade volume. Also I see many protocols are coming which allow Dex exchanges and rewards token holders with staking benefits .I am.nkt sure if this is sustainable in the long run.
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