Topic: Is exchange based tokens worth for hold? - page 8. (Read 1954 times)

I think you choose good tokens, most of them are the tokens of top exchanges. But you shouldn't invest in too many exchange tokens, diversify your altcoin assets with non exchange tokens. Not all exchange tokens are good to invest in, some exchange tokens that rarely have good issues seem difficult to grow the prices. I only choose few exchange tokens and I don't allocate big funds for them. I only spend a little bit money on BNB because I think BNB still deserve to buy as many as possible now.

Anyway, most of altcoins are decreasing their prices during the bearish season, not only exchange tokens. So, you can't judge them no different as shitcoins because al most all tokens/coins are experiencing big drops now.

We can’t say this blindly in the cryptocurrency field for now,because not all exchange surviving for longer period.Some exchange like FTX will stole the money of the investors and traders.They fly with the traders money for their problem,if the exchange doesn’t had a capacity to hold the exchange for the longer period.They can do the other business as compared to the crypto exchange,because nearly 70-80 percentage of the investors from the poor background.They investing money in the cryptocurrency for their future growth,if the exchange stole the money how they trust other exchanges after the scam.

I don't think exchange tokens are shitcoins though. First of all, you need to know what those exchanges do to make their coin unique. Do you know why Bnb has gone from $6 to where it is now? Even BGB if you've heard of it before. They always put up effort to make the coin unique. If not, they're just like other coins that rise and fall as usual but holding them in their designated exchanges makes a different

I feel like they are not, and waiting a lot more for them to make a comeback is not a smart idea neither. I understand that some people feel that is not the case but most of the time that is the case. I think it is important to realize that bitcoin will end up with a result that would be better in the end, so turning your bad tokens into good ones would make more sense.

One exception would be BNB because I do believe that Binance will continue to do well, but that is the only one and I do not think that it would be smart to make a difference on it. Binance has been huge so far and there is really no reason for it to not be huge anymore, it will keep on being huge for a very long time and will continue to make profit.

I can say that BNB has a lots of potential. Apart from this the one’s you have mentioned doesn’t take a stand against BNB. BNB is there in the market for many years, and as it’s the coin of one of the oldest and trusted exchange, so the possibility of growth increases here compared to other coins. I am not saying that the other coins or tokens you have mentioned are bad, but it’s high risk to invest in those coins.

It depends on the exchange. If they have a strong fundamental background with mind-blowing future plans tokens will survive. Look what happens for CAKE, KCS.

They entered the crypto market with many exchange budget tokens in the past but they did not last long. Because not everyone will find a successful market like bnb coin. As you may know bnb coin is now marketing all over the country and their investor base is expanding massively as their exchange is now number one in the crypto market. To get such investors it will be too late for a new project but the investors will not wait for you so long so there are many good old exchanges where the investors feel comfortable.

All I can think of is that centralized exchanges are never good for holding. A centralized exchanger means putting your funds under someone else's control.
Considering this aspect they can do anything with your funds. So I think Centralize Exchange should be used only for trading. It would be best to use a cold wallet ie decentralize exchanger for holding. In this case, it is important to select the right token or coin

Like Bitcoin, ETH, BNB, and many more that are recommended based on a strong community and continuous development. There is no need to do any research to hold onto this top coin as it is just a matter of time. Now maybe everything is bearish but when bullish comes everything will leave the current bottom price. Instead of falling into unclear investments such as shitcoins and memecoins, it's better to choose something that is certain, it will be safer and more secure.

Unfortunately, having fresh minds doesn't give us assurance as well, still, we fall into investing shitcoins if we never do research and background check. It was indeed we had to look deeper but rather make choose of those projects that we already know it was better as it gives us confidence that we can earn a profit from them when the time has come. Although we can't assure that everything went so well and can't avoid losses but there is a way to minimize losses and that is to choose coins that already have support from the community, not it was because of the exchanger.

In crypto, we would look at all coins with a fresh mind, because crypto is a game of chance sometimes, so we couldn't say that we will always be at a loss or we could not say that we will always be in a win situation. We could take care of both loss and win.

That's absolutely right, these exchanges launch a token which seems to replace trading fees in fiat money where they hold majority of the distribution launch it in DEX and get profited, While these exchanges work better due to flexibility and the speed of executing millions of orders a sec that doesn't mean they can confidently launch a centralized token and force its users to use it in their services, while many take bet on holding these exchange tokens, while we all know what happened to FTX, in the world of falling tokens like LUNA can we expect a centralized coin to not fall? Going for bitcoin is the only better option as its the perfectly decentralized hard money to hold. CZ's fame is untouchable due to the fact that binance is hugely popular and by running a POA based centralized EVM network, they are hosting thousands of "D"Apps which are not "D"ecentralized and running on a centralized coin. Satoshi left bitcoin for a reason that a decentralized people's network shouldn't be influenced by a single/group of persons that hold authority or creator affiliation to it, while we can see a lot of individuals making blockchains for public good but claiming the authorship or influence to it. Bad world, bad ethics, bad ethos, wonder what would satoshi think of the world he created and how its going now.

You're doubted already but you still hold them. You'd rather sell them now and stop wasting your time with these coins aside from BNB.
Investors are not buying these exchange tokens because they are not as profitable as we think. Although they are still available in the market but since we are aiming to earn a profit, they are not the best coins to choose.
Well, the decision is still yours but if I were you, I don't invest them. I'd rather use my money to buy BTC, ETH, and BNB, they are worth investing either long-term or short-term.

I think nowadays we have a lot of exchanges with the tokens.

1. BNB - Binance Exchange
2. KCS - Kucoin Exchange
3. UNI - Uniswap
4. GT - Gate.io
5. MXC - Mexc
6. OKB - OKX

So the exchange token only depends on the exchange. If the exchange is hacked or something, then the exchange token will be rekt.

Eg: FTT in FTX exchange

It is good invest in to new exchnage tokens. Because with the growth of the exchange, the token price will increase. But there is a risk as well.

These currencies cannot be trusted and are too risky to use as an investment. There is no guarantee that a particular platform will be solid and that it will not experience difficulties at any stage of its operation. We have a good example with the FTX exchange, which collapsed in record time without anyone noticing anything, and how its distinctive currency, Ftt, contributed to the ease of that collapse.

I suggest that the use of any of these currencies be restricted when we use the platform issuing them. Having a few of them to use in the form of usage fees for the platform's features will not hurt much and will definitely be useful, while it is better not to use them for other purposes.

But that's a little difficult to realize. Every year there are thousands of new crypto projects popping up and our chances of getting a green project are very few. It's like betting at a bookie. Some may suggest checking white papers and so on but what happens when coins are launched on the market is how lucky they are to get people's attention. I think choosing blue chip projects is more feasible.

When did you bought these exchange tokens? If you bought it last 2021 then I guess it's quite normal that you see them dumped at least 70-80% because of the bear market that happened next year.

TBH, most of the coins that you shared, and bought aren't a bad exchange at all. BNB, KCS and HT has been running for quite some time already. Uniswap on the other hand is the first DeFi, and I guess it's still running. Cake is the first DeFi under Binance Smart Chain, but over time it became a shitcoin. In general, investing in exchange tokens isn't a bad idea, but I don't recommend them for long term holding, not even BNB which is the most popular exchange right now.

Over the years, there has been numerous incidents where these exchanges are losing money because of some bugs or hacks whatsoever. I mean I don't know if I can trust these exchange tokens knowing that anytime, they might be the next victim of these hackers.

true most of these exchanges token are having single point of failure, their exchange goes bankrupt and something goes wrong like their assets gets stolen then the token is done for.
moreover, we've seen currently stagnating chart of these exchange token, in which means that maybe they gonna be stuck until bullrun is coming.

i'd instead hold some other coin like bitcoin, ethereum even the newly released token and coins that being used heavily for alternative blockchain of ethereum, i just feels like there are far more potential there compared with the ones with the exchange token, unless bullrun is near of course.

You need to understand that exchange coin are not always been hyped like other coins that is why you tend to be making some few loses. And sometimes exchange coins do not move like the way they ought to move because people don't always invest in them.
If you want to make some good profits from the market, then you need to be ready to invest in new projects so that you can maximize your profits before the marketmarket finally falls, by then you would have taken your profits and move to the next new project available for launching. This is how many investors do make there money from the market without any struggles.

It will depend on what exchange token you are investing.
If seen from your list, some are probably worth it to hold and some may be not.
As we know, not every exchange is actually potential and able to survive during the crisis or bearish era. I know what you mean. During this bear market, all exchange tokens dropped very down, even it is BNB from top exchange. but, as you know, all crypto market during the bearish era is decreasing. If you are counting your assets right now, they must be decreasing. It means that nothing to expect to much during this bear market. But, this may be different during the bullrun era. Most crypto will be rising up, so will the exchange tokens. But once more, not every token will be also following to rise. Many of them are not able to survive and then falling to the earth again. If I were you, I will also be so much careful when going to invest in exchange toke, because not all of them are potential. But here, BNB may be verygood idea to holdm this really has potential.