Topic: The Exchange coin trend, Will all exchanges soon have their coin? (Read 179 times)
September 29, 2018, 01:57:38 AM
This is a fairly simple marketing that works very well. Now you do not need to attract investments from large funds to open your own exchange. You just need to create your own cryptocurrency and enter the ICO. Very simple and easy. And most importantly - profitable.
September 28, 2018, 11:32:34 PM
yes that's how it is, whoever the developer who has coins is related, they still need the role of an exchanger to be able to exchange their coins with BTC or ETH. This time, business becoming an exchanger is very profitable, along with many new coins popping up every day. Binance has a BNB, in which investors have gotten their profits more than 5000%, so Binance started making popular coins with this type
September 28, 2018, 11:24:31 PM
yes its a good thing. because when the exchange is become successful then the price of that coin also will go high. then thats profitable for traders and also for the owners of the exchange. also that increases the reputation and trust of that exchange. so thats a good move
September 28, 2018, 11:20:15 PM
I think it is a good way for exchanges to improve their popularity and increase their revenue. As long as it doesn't bring bad impacts for the holders or their clients, I think it is no problem and fair. They just need to think about how important the function of their own coins are and how the coins can give good influences for the exchanges. That's the point for me.
September 28, 2018, 06:56:11 PM
everyone looks at binnance, their coin are pretty popular, so most likely soon every exchange will have coin soon. But is it really needed for exchange?
BNB is great, but do other exhanges need it?
BNB is great, but do other exhanges need it?
September 27, 2018, 10:46:26 PM
If they want to make their coin, that coin must have real application. For example, Binance and some other bourses allow lower transaction fees through BNB, which is a good idea to encourage usage. Or some other exchanges having their staking coin.
September 27, 2018, 08:22:07 PM
For me it doesn't make any sense for them to create their own coin as their exchange will only be used for trading. There are no other services to be offered and if there other service, that is just a bogus or an upsell. They already earn on all of the transactions done and they still want to earn using their own coin. I don't get why they need to do that. Does anyone know why exactly they have their own coin?
September 27, 2018, 08:15:49 PM
I think majority of the new exchanges that was online already has their own coin. Although it is not needed, they prefer having their own coin so that they would have their own capital to run the exchange. The money raised was also used to improve the services on the exchange. A coin holder might have some advantage compared to regular traders. Premium access means money for them and preventing the exchange to go bankrupt.Just an FYI : KYC is also needed for those exchanges.
September 27, 2018, 07:32:50 PM
It's sort of like a rewards program for the exchange. If an exchange can make you feel like you own a part of it, you're more likely to do your trading there. I like investing in exchange coins because it's passive income and I do feel like I'm investing in a business.
September 27, 2018, 06:58:02 PM
Now many exchanges create their own coin because binance successful with its BNB coin. and they can get more money because their coin by creating pair or by voting system
September 27, 2018, 05:40:07 PM
I am just curious why a lot of copycats in this cryptoworld, previously exchanges are not known to have their own coins, I remember trading with exchanges like Poloniex, Bittrex, bleutrade, cryptopia, coinexchange, etc and they were not known to have their coins.
It happens that most exchanges this period are now launching exchange coins and ICO, noticed that some exchanges that do not previously had their coins are internally launching theirs, an example is hotbit. I know this was due to the success of Binance coin. What baffles me is that most of these exchange coins do not have any other use case aside from being exchange coins and they promise to reward some users with it.
There are lot of copycats because cryptoworld is unregulated on most part. I can't tell if all crypto exchnages would have their own coin/ICO, but they are likely to enforce KYC on its users. It makes sense why some exchanges need to raise funds, but if all exchanges could do it, then we will only see useless sites in the name of exchanges popping up and asking for investor's money and run away. It happens that most exchanges this period are now launching exchange coins and ICO, noticed that some exchanges that do not previously had their coins are internally launching theirs, an example is hotbit. I know this was due to the success of Binance coin. What baffles me is that most of these exchange coins do not have any other use case aside from being exchange coins and they promise to reward some users with it.
September 27, 2018, 05:31:34 PM
It is a common things to do when you open a new exchange nowdays, they have their own utility token that can be used to get some advantages in their exchange like cheaper fee or dividend from the trading volume etc, that's mainly to attract people to use their exchange. I don't mind that as it's better rather than other project who release no product.
Right, It's also used for gain fiture such as premium access or user, for voting a new coin and many more. because basically the coin is their product, so they run faster than other projects. Although it was a good thing, but there are also some exchange that don't make their own coins, like a local exchanges. September 27, 2018, 04:49:00 PM
Yes it's the new standard for a crypto exchange.
Most of the coins issued by the exchanges are both a way to redistribute the profit of the exchange by dividend, burning or both as well as the fuel for the proposed dex.
The future is of dex and it's a easy bet to say the most successful exchanges at current time would have the best dex in the future. And a dex specific fuel would assure a ever present profit for the exchange and the investors.
It's not a new starndard but they are try to take the advantage in their own way. basically if there was a lot of demand will try to buy their coin and then could make the price of coin will be spiking a lot. Most of the coins issued by the exchanges are both a way to redistribute the profit of the exchange by dividend, burning or both as well as the fuel for the proposed dex.
The future is of dex and it's a easy bet to say the most successful exchanges at current time would have the best dex in the future. And a dex specific fuel would assure a ever present profit for the exchange and the investors.
That makes sense to see these exchange sites interested to create their own coin consider about the fact that it can give a lot of advantages for them.
September 27, 2018, 04:38:34 PM
I don't think All exchange will have their coin. Some popular exchanges like the Binance, Bancor, Bibox, Kucoin Tradeio, all of them had an ICO, token sale. So, they have their own coin and exchange, it is normal. They promised to the ICO Investors and they keep! But I don't think Bittrex, Poloniex will come with their own coins! Hotbit is being a very popular crypto exchange, so they bring their own coin. Though it wasn't any ICO.
September 27, 2018, 04:30:22 PM
I know about Binance having its coin and KuCoin also. It is used to reduce fees when trading (maker/taker fees). But I don't know if it has any other features beyond that. It is a common practice this days...
September 27, 2018, 10:04:36 AM
I am just curious why a lot of copycats in this cryptoworld, previously exchanges are not known to have their own coins, I remember trading with exchanges like Poloniex, Bittrex, bleutrade, cryptopia, coinexchange, etc and they were not known to have their coins.
It happens that most exchanges this period are now launching exchange coins and ICO, noticed that some exchanges that do not previously had their coins are internally launching theirs, an example is hotbit. I know this was due to the success of Binance coin. What baffles me is that most of these exchange coins do not have any other use case aside from being exchange coins and they promise to reward some users with it.
It happens that most exchanges this period are now launching exchange coins and ICO, noticed that some exchanges that do not previously had their coins are internally launching theirs, an example is hotbit. I know this was due to the success of Binance coin. What baffles me is that most of these exchange coins do not have any other use case aside from being exchange coins and they promise to reward some users with it.
You need to consider coin exchanges as a kind of stock and a way to attract new users. Now it is a trend.
September 27, 2018, 09:42:57 AM
Exchange is a great business in crypto so of course everyone want to open one and they use the coin to raise the capital needed for the development, operational and marketing purposes. It's a good business plan and the people that buy the coin are also happy if the volume in the exchange is getting bigger and bigger. You can also see exchange that have their own coin is more popular right now.
September 27, 2018, 09:40:37 AM
It is a common things to do when you open a new exchange nowdays, they have their own utility token that can be used to get some advantages in their exchange like cheaper fee or dividend from the trading volume etc, that's mainly to attract people to use their exchange. I don't mind that as it's better rather than other project who release no product.
September 27, 2018, 09:39:42 AM
Nothing beats success, exchanges based coins are the in thing in the ICO I have seen at least 4 exchanged based ICO and they are gaining a lot of support and some of them even reached their softcap, ao we will see more exchanged based ICO in the next days.
September 27, 2018, 09:36:41 AM
Exchanges making their own coin is out of pure greed, it doesn't even serve a practical purpose. There are a lot of greedy people in crypto and it's hurting us immensely.
Jump to: