Pages:
Author

Topic: Is exchange based tokens worth for hold? - page 4. (Read 1954 times)

sr. member
Activity: 2618
Merit: 439
January 29, 2024, 02:41:08 AM
when it comes to exchange-backed altcoins, BNB is the best choice. The reason is because Binance is the largest exchange at the moment and only altcoins that have been tested can be listed on Binance. there may be some that fail and cause delisting but most of the altcoins on binance have large exchange volumes.
Well watch out for what binance can face in the future mate , we have seen how many cases they have faced and they will still have more in the future unless they will be going with the government and from that the exchange will not worth trusting by crypto users that looks for the privacy.
full member
Activity: 656
Merit: 104
Buzz App - Spin wheel, farm rewards
January 29, 2024, 02:06:35 AM
Not all exchange-based tokens can soar in price. However, there are also some exchange-based coins that are worth investing in long term such as BNB. We know that since the emergence of BNB, many people bought it at that time when the price was relatively low, but as time went by, BNB experienced a very high spike and even reached the ATH level and we are sure that if the halving occurs, popular exchange-based coins such as BNB will again reach a new ATH.
full member
Activity: 1134
Merit: 100
SOL.BIOKRIPT.COM
January 22, 2024, 06:22:47 PM
when it comes to exchange-backed altcoins, BNB is the best choice. The reason is because Binance is the largest exchange at the moment and only altcoins that have been tested can be listed on Binance. there may be some that fail and cause delisting but most of the altcoins on binance have large exchange volumes.
member
Activity: 476
Merit: 60
January 22, 2024, 05:47:37 PM
As an investor, i bought so many exchange based tokens! Bnb, uniswap, kucoin (kcs), cake, houbi (ht),  FTP and so on. Undoubtedly those exchangers are so big and reputable. I though those altcoins will pump if exchange get larger during time and if exchange add more pair with their altcoin on their platform, then price will boom but most of those are like shitcoin, dumped 70-80℅ in long run except bnb. So what do you think? I'm no longer going to invest any exchange coin anymore!
I personally don't buy altcoins just because they are exchange based altcoins. Because most exchange-based altcoins are just tokens hitching a ride on another network. But it's different from BNB which has its own network. So I only hold BNB because only BNB can build its own ecosystem because it is a layer 1 altcoin. While the others are just coins or tokens that depend on other networks. So it is impossible to build its own ecosystem.
sr. member
Activity: 1414
Merit: 270
Undeads.com - P2E Runner Game
January 22, 2024, 01:38:37 PM
exchange token s performance is good especially project of top exchange like bnb. But it should not be kept for too long because suddenly mention of theft of exchange assets or something similar is harmful to your money. But if they have personal services that investors will like then their token will increase in value. You mentioned many exchange tokens so I don't think all of them are trustworthy they are worth holding long term so short time investment is best for them.
Probably any exchange token is much more dangerous to hold than some other altcoin. As you said, a hack could negatively affect the price of the token. Or some laws that could prohibit the exchange from operating. It's better to buy regular altcoins.
binance and kucoin both are higher level exchange and they all have their own tokens and investors are constantly getting profit from it. But I agree with you that storing tokens in exchange wallet is risky because of hacking problem only. Earlier many times such problems were created in almost exchanges where investors suffered losses. However you can use the best wallet if you want.
By analogy with the exchanges themselves, we need to use “cold” (for storing funds offline) and “hot” (for trading) wallets. Of course, we needs to be afraid of hacking the exchange wallets, but even if this happens, the Tier-1 exchange will reimburse you for what you lost. I would be more wary of storing funds on the exchange if I had problems with the KYC (account dont verified or KYC failed / permanent change of IP).
member
Activity: 665
Merit: 10
SOL.BIOKRIPT.COM
January 22, 2024, 01:23:25 PM
exchange token s performance is good especially project of top exchange like bnb. But it should not be kept for too long because suddenly mention of theft of exchange assets or something similar is harmful to your money. But if they have personal services that investors will like then their token will increase in value. You mentioned many exchange tokens so I don't think all of them are trustworthy they are worth holding long term so short time investment is best for them.
Probably any exchange token is much more dangerous to hold than some other altcoin. As you said, a hack could negatively affect the price of the token. Or some laws that could prohibit the exchange from operating. It's better to buy regular altcoins.
binance and kucoin both are higher level exchange and they all have their own tokens and investors are constantly getting profit from it. But I agree with you that storing tokens in exchange wallet is risky because of hacking problem only. Earlier many times such problems were created in almost exchanges where investors suffered losses. However you can use the best wallet if you want.
member
Activity: 812
Merit: 53
December 09, 2023, 01:57:37 PM
Even the BNB, what if Binance got hacked or something happened and it fold up? BNB will crash and become useless. I used it as the example because it is the one you recognized most and the first among them if marketcap is used. Any exchange can get hacked and this may cause their token to become useless. Go for decentralized coin like bitcoin.
Sir, you are saying right Exchange coins are not good for long term investment. We can see the FTT crashed.
Invest in coins such as bitcoin, litecoin and ethereum etc. These types of coins are not belonging to any crypto exchange. Their future is very bright.
Binance is the world big exchange. But i don't recomend you to hold BNB coin for long term in your portfolio.
member
Activity: 308
Merit: 21
Crypto WEB3 Neobank
December 09, 2023, 09:03:41 AM
my advice is still to hold your altcoin that you invest, because as long as the project is still running and making progress, then you still have the opportunity to make a profit from investing in these altcoin, especially now that the condition of the market is bad (bear market), so it's only natural if many of altcoin that you invest dump by 70%-80% and I am sure that if a bullrun occurs, then the price of altcoin that you invest will definitely increase very high again and give you a lot of profit.

Almost the same as you think, place our funds on a platform that has a reputation and a high level of security, both the exchange owner and we as users feel comfortable with the service.

If there are stories about meme coins, from what I have read and seen in several threads here, it can be concluded that many are bad, but many are interested too. Indeed, meme coins always steal the attention of many people.
full member
Activity: 826
Merit: 104
👉bit.ly/3QXp3oh | 🔥 Ultimate Launc
November 30, 2023, 09:47:37 AM
That level of price decrease is completely normal; if you're a true investor, you must have patience and wait  Cheesy

That's right, because with the current market conditions, a price decrease of more than 70% is still normal, unless there is a bull run, but altcoin that you invest does not increase and instead dump, then you don't need to expect much from altcoin that you invest, but I see altcoin that OP invested is very good, so I'm sure the price will definitely increase again and give OP a lot of profit.
member
Activity: 560
Merit: 17
Eloncoin.org - Mars, here we come!
November 29, 2023, 06:50:06 PM
Even the BNB, what if Binance got hacked or something happened and it fold up? BNB will crash and become useless. I used it as the example because it is the one you recognized most and the first among them if marketcap is used. Any exchange can get hacked and this may cause their token to become useless. Go for decentralized coin like bitcoin.

  The question is: how many times has the hacker's account been hacked? Hackers have entered it many times, but in those cases, Binance immediately caught up with it, which is why their users' funds remain safe.

  Even if the hackers stole millions from Binance and Binance is still replenishing it, they can only maintain the trust of their users in their platform. That means they know how to take care of their customers. Although the risk is that it won't really disappear, it's up to us if we stay because of trust, because I actually have tokens in Binance.
hero member
Activity: 2954
Merit: 533
Leading Crypto Sports Betting & Casino Platform
November 29, 2023, 06:30:03 PM
The reason why BNB succeeded and other tokens from exchanges failed is that BNB turned into a coin since it initially launched as a token and now it is acting as a better choice over Ethereum for creating a new project so the journey is so long and the project doesn't hold the value to the coin only with the reputation of the exchange.
that indeed is one of the reason the fact that they created binance smart chain which used their BNB for fee and the blockchain itself was growing steadily and have already among the most popular blockchain ever since has helped tremendously in keeping the value of BNB, i remember back then when BSC was becoming massive trend so many people deployed their project to the BSC mainly the metaverse and gaming project also defi and BNB was kept on increasing day by day though eventually something hits the fan and the market went bearish then the bullish trend ended there, ever since then the increase in BNB wasn't truly significant.
right now, Binance facing so many problems from the regulation makers definitely have impact towards the condition of BNB.
sr. member
Activity: 2520
Merit: 280
Hire Bitcointalk Camp. Manager @ r7promotions.com
November 28, 2023, 12:27:52 PM
The reason why BNB succeeded and other tokens from exchanges failed is that BNB turned into a coin since it initially launched as a token and now it is acting as a better choice over Ethereum for creating a new project so the journey is so long and the project doesn't hold the value to the coin only with the reputation of the exchange.
legendary
Activity: 3122
Merit: 1140
November 28, 2023, 08:52:15 AM
I don't think that they are worth holding. They are totally related to an exchange, and if something happens to it - the token will die too. This might happen even in calm times or during the bull run, you never know what's happening behind the doors.
All of exchanges coins aren’t bad, as like BNB is the backed of the number one crypto exchange Binance. So, it’s fundamentally strong coin, early investors got big profits if considering others exchanges coins. Still i think it can be worth investment, although recently a bad news coming so it’s started dumping but i think it’s a promising coin for the future. 
the exchange still remains a large monopolist, and this may mean that nothing threatens the exchange token in the near future. Quarterly token burns will do their job, we need to wait a little longer and see how the price reacts to this event.
Some big exchanges native tokens just surviving based on their exchange reputation otherwise there are no real use cases of those tokens such KCS is backed by the major exchange KuCoin but you can check it in CMC, very low interest in trading only 1m dollar trading volume. Only BNB is in strong fundamental coin and it’s a lot of utilities in the market.
When it comes on holding exchange token then this is something that would be still a gamble. We dont know if a certain platform will really be able to make themselves on the top.
Lets go back into the time that BNB was so cheap but there are lots who had that simply ignore and sticking into those known sites which are known on that time.
For those who had risk out their funds with BNB then it did become that top ranking exchange platform then it did really make out that huge reflect into their own native token.
This is why i could say that it is really that needing a little bit of luck when it comes to holding and choosing on which coins.

It is really hard to determine or hard to know on what would gonna happen next into this market. If you do see a certain platforms that has the potential to become
the next Binance then it would your choice whether you should invest or not. Everything will really be that depending into your risk taking since
not all does have that the same tolerance when it comes to risks.
hero member
Activity: 2464
Merit: 519
November 28, 2023, 08:50:18 AM
Exchange token isnt worth for holding. It mainly depends on exchange performance and getting discount while withdraw. Thats the trick exchange owner do with us for increase the value of their exchange token but those doesn't have other real use imo. Like binance is big exchange, so bnb is popular, increased higher and but as far i know, still no real use of it, is done with any company or organization. But yeah, it could be hold for short time profit but can't guarantee for long term. Same suggestions for rest of exchange token
As for Binance, I am not sure where things will go. In the present, there are very few IEOs that demand exchange tokens for purchase; however, there are other use cases for exchange tokens. In addition, the binance trade charges are significant low on both CEX and DEX, so they won't be that high, and as the BNB price increases, they can also decrease. Nevertheless, only Top 1 tier exchanges provide reliable exchange tokens that are recommended for holding
member
Activity: 372
Merit: 10
November 28, 2023, 08:33:23 AM
Exchange token isnt worth for holding. It mainly depends on exchange performance and getting discount while withdraw. Thats the trick exchange owner do with us for increase the value of their exchange token but those doesn't have other real use imo. Like binance is big exchange, so bnb is popular, increased higher and but as far i know, still no real use of it, is done with any company or organization. But yeah, it could be hold for short time profit but can't guarantee for long term. Same suggestions for rest of exchange token
hero member
Activity: 2828
Merit: 611
November 28, 2023, 01:23:23 AM
As an investor, i bought so many exchange based tokens! Bnb, uniswap, kucoin (kcs), cake, houbi (ht),  FTP and so on. Undoubtedly those exchangers are so big and reputable. I though those altcoins will pump if exchange get larger during time and if exchange add more pair with their altcoin on their platform, then price will boom but most of those are like shitcoin, dumped 70-80℅ in long run except bnb. So what do you think? I'm no longer going to invest any exchange coin anymore!
Exchange based tokens don't fluctuate as much as other tokens do. I have been following the Ku coin exchange token for a long time and what I see is that when the market is bullish or when BTC goes up, the price of those coins goes up and when BTC goes down it goes down. In 2021 the token price of Ku Coin exchange platform was $17 per coin currently trading between $6. So these coins seem to depend a lot on the price of Bitcoin. If one wants to hold the coins of this exchange platform then one must hold for long term otherwise the chances of loss will be high.
Isn't that the case with every altcoin? As far as I know, altcoins follow the movements of Bitcoin and there can only be a difference in the percentage of their growth or fall but they move towards the direction where Bitcoin is moving and it's not just about exchange-based coins or tokens but it's the case with almost all the altcoins. I know that some altcoins might move without Bitcoin moving or in an opposite direction where the market is moving but such cases are rare.

And I believe exchange-based coins also move and gain value based on how much people are interested in them. Take BNB as an example, the coin managed to gain significant value because the exchange was successful and became the most used centralized exchange in the world which is the reason why people had trust in BNB and it gained great value over time.
sr. member
Activity: 2226
Merit: 259
DGbet.fun - Crypto Sportsbook
November 26, 2023, 12:42:02 AM
I don't think that they are worth holding. They are totally related to an exchange, and if something happens to it - the token will die too. This might happen even in calm times or during the bull run, you never know what's happening behind the doors.
All of exchanges coins aren’t bad, as like BNB is the backed of the number one crypto exchange Binance. So, it’s fundamentally strong coin, early investors got big profits if considering others exchanges coins. Still i think it can be worth investment, although recently a bad news coming so it’s started dumping but i think it’s a promising coin for the future. 
the exchange still remains a large monopolist, and this may mean that nothing threatens the exchange token in the near future. Quarterly token burns will do their job, we need to wait a little longer and see how the price reacts to this event.
Some big exchanges native tokens just surviving based on their exchange reputation otherwise there are no real use cases of those tokens such KCS is backed by the major exchange KuCoin but you can check it in CMC, very low interest in trading only 1m dollar trading volume. Only BNB is in strong fundamental coin and it’s a lot of utilities in the market.
legendary
Activity: 3178
Merit: 1054
November 25, 2023, 02:48:16 PM
I don't think that they are worth holding. They are totally related to an exchange, and if something happens to it - the token will die too. This might happen even in calm times or during the bull run, you never know what's happening behind the doors.
All of exchanges coins aren’t bad, as like BNB is the backed of the number one crypto exchange Binance. So, it’s fundamentally strong coin, early investors got big profits if considering others exchanges coins. Still i think it can be worth investment, although recently a bad news coming so it’s started dumping but i think it’s a promising coin for the future. 
the exchange still remains a large monopolist, and this may mean that nothing threatens the exchange token in the near future. Quarterly token burns will do their job, we need to wait a little longer and see how the price reacts to this event.

BNB however is just not performing well this year. i was also holding some exchange tokens before the last bull market, these tokens are just going to drain your patience. your faith in holding these tokens relies on the exchange itself which they know who they want to make rich. OK exchange token did a significant move than BNB.

the advantage to big holders of these exchange tokens is that they are sharing revenue with them.
hero member
Activity: 2632
Merit: 649
DGbet.fun - Crypto Sportsbook
November 25, 2023, 02:14:52 PM
I don't think that they are worth holding. They are totally related to an exchange, and if something happens to it - the token will die too. This might happen even in calm times or during the bull run, you never know what's happening behind the doors.
All of exchanges coins aren’t bad, as like BNB is the backed of the number one crypto exchange Binance. So, it’s fundamentally strong coin, early investors got big profits if considering others exchanges coins. Still i think it can be worth investment, although recently a bad news coming so it’s started dumping but i think it’s a promising coin for the future. 
the exchange still remains a large monopolist, and this may mean that nothing threatens the exchange token in the near future. Quarterly token burns will do their job, we need to wait a little longer and see how the price reacts to this event.
sr. member
Activity: 224
Merit: 195
November 25, 2023, 01:51:53 AM
Investment made into such Altcoins might not be considered too worthless but at some point still can be worthless.  As many new exchanges are coming on board with their own tokens, it won't be necessary to venture into that market as the reason sometimes they generate the tokens in order to help them facilitate the building of the Cex and sometimes the token is being over looked after they keep the app running, they look out side for other projects to come list their tokens and pay more attention towards that aspect than looking to build their own exchange based token and most they consider it as gas fee and of no purpose.
Seeing those altcoins dump is not to be served as a surprised, when little or no efforts are not made to keep the Altcoins in a good state and the whole things turns into a dump which they never recover from
Pages:
Jump to: