Thoughts on exchange tokens? | Bitcointalksearch.org

TastyChillySauce00

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Quote from: DaMut on March 19, 2021, 03:21:49 PM

What is the problem for an exchange to have their own token? instead it is good for both parties.
it is just like a member card for the user when we can get benefit from having one while in this case some exchanges are charging less fees for the holders.
and for the exchange themselves they can get fund to keep developing or maintaining their platform.
we have seen a lot of shitcoin created everyday, so it does not concern us at all as long as the exchange works as expected.

As long as the coins released by the exchange have some kind of utilities then most of us are fine, heck even I usually don't really care about an exchange releasing a new coin. Maybe people are fussing about how some exchanges created their own version of token or coin just for money grab but i suppose most of people could figure out which one is worth the investment.

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Far too many exchange tokens out there. A crypto exchange may launch its own token for a variety of reasons, and exchange owners often give tokens to users as incentives. A token presents a company's share, give access to product or service and perform many other functions. It's viability however depends on the success of the company's project. Some would launch their own exchange tokens without legitimate products or services, which then leave the buyers with nothing but invaluable tokens. Be careful out there.

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I believe things like Uni token and Cake token are actually quite good, they are really doing something great with those because it is really profiting you something while owning it but you can also govern it if given the right as well. Think about it, you can increase the trading fee and make more money but lose customers but you could drop it and decrease the profits but gain more people, maybe one way you would make more money or the other way you make more money, it is given to you.

I think it is a great deal to own an exchanges token, there are way too many things you can do with it, and I like it considering there is a reason for it to be bought, there is a usecase, all those staking and liquidity providing, those are amazing things and that is what I have been looking for in a coin, a great usecase that people would be willing to use for a long time so the token would worth something.

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Quote from: criket on March 19, 2021, 11:22:30 PM

Quote from: DaMut on March 19, 2021, 03:21:49 PM

What is the problem for an exchange to have their own token? instead it is good for both parties.
it is just like a member card for the user when we can get benefit from having one while in this case some exchanges are charging less fees for the holders.
and for the exchange themselves they can get fund to keep developing or maintaining their platform.
we have seen a lot of shitcoin created everyday, so it does not concern us at all as long as the exchange works as expected.

You can see that many exchange platforms are currently present on the crypto market. they are promoting not just their platform. but also related to their own tokens that can later be traded on an exchange.
there is nothing wrong. but it looks like a strategy to keep the exchange busy with new coin events.
like IEO on binance. which indeed requires IEO participants to have a BNB before being able to participate in IEO sales.
but I prefer exchanges that are up and running and recently releasing their own coins. they already have a market then make a sale of their own coins once their platform is up and running.
like NOMINEX which has just released their NMX coins which have been opened on several exchanges as well.

Except IEO is not very much a popular way of getting funds anymore. It's not what is being done these days, most are up to just doing presale or Initial DEX offering (IDO). Nonetheless, exchange tokens are still good tokens to invest in when the exchange is being used by traders. Exchanges that are gradually earning trust are the good ones to invest with.

Just hope that NMX isn't going to mess things up.

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Quote from: DaMut on March 19, 2021, 03:21:49 PM

What is the problem for an exchange to have their own token? instead it is good for both parties.
it is just like a member card for the user when we can get benefit from having one while in this case some exchanges are charging less fees for the holders.
and for the exchange themselves they can get fund to keep developing or maintaining their platform.
we have seen a lot of shitcoin created everyday, so it does not concern us at all as long as the exchange works as expected.

You can see that many exchange platforms are currently present on the crypto market. they are promoting not just their platform. but also related to their own tokens that can later be traded on an exchange.
there is nothing wrong. but it looks like a strategy to keep the exchange busy with new coin events.
like IEO on binance. which indeed requires IEO participants to have a BNB before being able to participate in IEO sales.
but I prefer exchanges that are up and running and recently releasing their own coins. they already have a market then make a sale of their own coins once their platform is up and running.
like NOMINEX which has just released their NMX coins which have been opened on several exchanges as well.

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Quote from: michellee on March 19, 2021, 10:22:48 AM

Quote from: gurunanakji777 on March 19, 2021, 09:36:04 AM

My experience is not good with exchanges tokes so far. I would say very few exchange tokens are worthy on the other hand I have some 5-7 exchange tokens and none of them have good value so far only B2b exchange coin pays me some good return. If we see Binance there is no match of Binance with other exchange coins but I have noticed in the past 1 year some good exchange projects introduced and their dev is doing good. But whenever you plan to buy exchange tokens do due diligence properly otherwise you can repent later.

You are right. What I do not like about DEX is the fees that are too expensive. Binance is enough for us to trade because that exchange has many coins or tokens that we can use to trade. If the new token is only available on the DEX, maybe we can wait for a while to see that token will be list on the major exchange. And if the dev wants to grow their project and reach more traders because, in the major exchange, they will have so many traders from many countries that want to profit from the new coin or token.

I started trading on binance DeX when binance IEO was very popular. In the past, several tokens made IEO sales on binance that switched the binance blockchain. and they are not directly listed on the main binance exchange.
I think binance DEX is also more friendly than other DEX when it comes to trading fees.

When it comes to the past, I am sure we are love to trade in DEX as the ethereum price is not too high and the fees are not too high. Even I do not know about Binance DEX, I heard that people used it to trade many tokens, but I do not know about the fees on that exchange. But if the fees are not too high depend on the other DEX, then Binance Dex still worth using.

DaMut

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What is the problem for an exchange to have their own token? instead it is good for both parties.
it is just like a member card for the user when we can get benefit from having one while in this case some exchanges are charging less fees for the holders.
and for the exchange themselves they can get fund to keep developing or maintaining their platform.
we have seen a lot of shitcoin created everyday, so it does not concern us at all as long as the exchange works as expected.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Well at first sight i think most people would say that there are way to many exchanges and exchange tokens out there. Some of those small an new exchanges are having a hard time to generate enough volume to make profit.
On the other hand it's always important for every market or industry sector that there is competition if we would only have binance and coinbase they would have way to much power.
So for me it's a good thing that new exchanges are trying their luck regularly to get a little market share.

lobo13hf

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Quote from: Lantind on March 14, 2021, 12:45:59 AM

Yes, DEX is a helper to boost Exchange in general, so the use of DEX by some people in crypto will obviously be very beneficial in real terms and can benefit exchanges on the public channel, so that their tokens always have a good value in the market.

Is not it the market will determine the price of token? i see that when the project has a FOMO and that will make the price will be going very high but again community will determine this.
It's not all of dex can have a good value dude. The majority of the small dex has their own token that traded in low value.

Only a few exchange token that has good value at this time.
People are also hyping the good exchange token.

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Quote from: gurunanakji777 on March 19, 2021, 09:36:04 AM

My experience is not good with exchanges tokes so far. I would say very few exchange tokens are worthy on the other hand I have some 5-7 exchange tokens and none of them have good value so far only B2b exchange coin pays me some good return. If we see Binance there is no match of Binance with other exchange coins but I have noticed in the past 1 year some good exchange projects introduced and their dev is doing good. But whenever you plan to buy exchange tokens do due diligence properly otherwise you can repent later.

You are right. What I do not like about DEX is the fees that are too expensive. Binance is enough for us to trade because that exchange has many coins or tokens that we can use to trade. If the new token is only available on the DEX, maybe we can wait for a while to see that token will be list on the major exchange. And if the dev wants to grow their project and reach more traders because, in the major exchange, they will have so many traders from many countries that want to profit from the new coin or token.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Not sure if they're too many, because those tokens would even reflect on how does an exchange perform sometimes.
One notable example would be BNB. I plan to buy it back in the days, but it was just too much in my portfolio now so I backed out.
It seemed to perform well along with the exchange based on the circulation and the volume of the coin.
That's just one notable example though.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Some of these projects are placing some roles but many we're just worthless and dead. Maybe we hear about scam tokens, abandoned projects, many of them having that situation because, in the very beginning of its creation, they don't have that intention to bring the light to it but instead, they let people fooled by their greediness and lose their money.

That is very important to look at the projects that could sustain the market competition and we have those positive insights that it grow in the future, not to be abandoned.

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My experience is not good with exchanges tokes so far. I would say very few exchange tokens are worthy on the other hand I have some 5-7 exchange tokens and none of them have good value so far only B2b exchange coin pays me some good return. If we see Binance there is no match of Binance with other exchange coins but I have noticed in the past 1 year some good exchange projects introduced and their dev is doing good. But whenever you plan to buy exchange tokens do due diligence properly otherwise you can repent later.

rosebrand

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Almost every crypto exchanges got thier own token , most of them are really worth investing on, it's certain that the progress of the exchange token depends on the welfare of the exchange. Most times this Exchange tokens doesn't have any usefulness tho some big exchanges makes their token more uselful in their exchange by adding some nice features which will make the token appears very useful, just like binance which got a staking launch pad where participants can only pertake by staking BNB and also there are certain fees which are reduce when transacting with BNB and if we take a close look we could see BNB has really been doing very fine so its certain that exchange tokens progress depends on the success of the exchange.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Every exchanges created their own utility tokens, it’s very rare to find without own token exchanges. But mostly exchanges tokens haven’t any real uses on the market. BNB & UNI both of coins are big trending in the market now. As like exchange token it has reached to another level of demand due to strong development and many use cases right now.

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Quote from: crypto-performance on March 18, 2021, 08:31:12 AM

Quote from: Oshosondy on March 13, 2021, 02:21:17 PM

There are not more than 400 to 500 exchanges that are legit,

400-500 exchanges? That's honestly way too much.

I think that's for overall but when you are counting the legit exchange site and there will be only less than 100 exchange sites that can be trusted and remember that if the volume gets centralized to the big exchange site. I think that we should not count all of exchange sites and consider these as legit exchange sites.

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Quote from: Oshosondy on March 13, 2021, 02:21:17 PM

There are not more than 400 to 500 exchanges that are legit,

400-500 exchanges? That's honestly way too much.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Its just good for their own platform but overall it isnt really that much off needed but if the perks just like on making use of it as a fee or somewhat have that staking feature then that would really be a beneficial one.

Just like on what happened on BNB on where it did really make out some progress just because the platform itself did really get some recognition in the masses.So having your own exchange token
isnt really a bad idea after all.

If they dont make one then its just okay but if they do make one then its still okay too. Cool

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Quote from: Lantind on March 14, 2021, 12:45:59 AM

Quote from: kaseygriffin on March 13, 2021, 09:05:03 PM

There are not many exchanges where their tokens can be successful, I just see that these tokens have real value and meaning from the top DEX and Eexchange in this market. The use of these tokens will benefit the user more, which I don't need to say for sure you understand.

Yes, DEX is a helper to boost Exchange in general, so the use of DEX by some people in crypto will obviously be very beneficial in real terms and can benefit exchanges on the public channel, so that their tokens always have a good value in the market.

the majority of tokens issued by the DEX being used as the governance token and it has less utility compared with the tokens that already issued by the centralized exchange site. it doesn't make sense to say dex token has more beneficial. Dex is not even helping to boost the exchange site in crypto ecosystem but the swap service does it.
I think that there's something wrong with it.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release.

Cryptocurrency is a broad venture and no consensus is needed for a token to be created on listed on an exchange, what the token team need is to have the exchange requirement and their token will be listed.

Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

Are there too many of them in the market?

Yes, there are in spite that crypto market is broad and new token project are abusing the capacity of the market.

Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

Or is there an obvious market need that such tokens serve?

The market needs the service offered by some token but 95% of all the token we have in the market are copycat.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Good exchange tokens will always grow as their exchange grows. You can see the example of BNB which is a token of the binance exchange. The next good exchange coin to invest now can be FTX. Also the decentralized exchange tokens like 1inch and uniswap are also worth investing.

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If you'll notice how those top crypto exchanges have selected tokens on their platform only. And they dont added more as not all of the tokens are good to serve with. However, one of the best crypto exchanges that has wide variety of tokens that can be exchange is the MyEtherwallet (MEW), you just need some gas for eth fees and you will be able to add some token together with the contracts on their platform.

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Now Every Exchange is releasing their own token. Because Binance released their own token and got success. So every exchange is following binance. Exchange's token have their own work on their exchanges. But Nowadays most of exchange have their token and it is also Successfull like binance, houbi and many others

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

There is value in those tokens provided that the company that released them had a platform that will help the community grow, like Binance and Kucoin, I have promoted and invested in some of these tokens in their ICO stage but unfortunately, the majority of these are profit-driven and they cannot keep up with the competition in the market, there are few exchanged based token doing crowdfunding now, not unlike before where there are at least 4 to 8 new tokens.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

There aren't many exchange tokens in the market if you know the difference between top exchanges and low exchanges, the best advice is to stick with top exchange tokens and they always perform better, I remember confusing a friend to invest in wazirX and today he is happy cos the coin is growing big

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

In fact, not all exchanges are performing well, as far as I can tell, only a few have had success with the exchange token. As we all know the top exchanges they use their own tokens to optimize usage on exchanges. In Some popular exchanges such as Binance, Okex, Houbi, the exchange tokens have high value and people are more supportive. Recently, the dominance of DEXs, DEXs also have their own tokens, I like this in the cryptocurrency space it brings diversity to users. Tokens are fundamentally very important, but not all exchanges do.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Only BNB and Okex are the best for me and the rest is something you should check by yourself because when the price of BTC increase, the users of both exchanges are increasing as well that would make their exchanges token surge because of the ongoing trade in their exchanges that would make the people give more trust to their coins. the bottom line is when there are so many users using their exchanges, there is no doubt about the price of their coins will increase as well. Yeah! there are too many of them in the market and you should be careful about falling to some sort of exchanges where they will close their service without an announcement.

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Quote from: kaseygriffin on March 13, 2021, 09:05:03 PM

There are not many exchanges where their tokens can be successful, I just see that these tokens have real value and meaning from the top DEX and Eexchange in this market. The use of these tokens will benefit the user more, which I don't need to say for sure you understand.

Yes, DEX is a helper to boost Exchange in general, so the use of DEX by some people in crypto will obviously be very beneficial in real terms and can benefit exchanges on the public channel, so that their tokens always have a good value in the market.

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They are utility tokens inside the exchange and if the exchange gets popular, they'd be a good token to invest in. We have seen most of them soar high. If you look back on how Gate token is when it started, its not a very popular exchange when it started its just few satoshis.

If you come to think of it that we are just millions in the crypto industry so far, in the next few years we'd exponentially grow to a billion and the exchange tokens could be much worth it.

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Who knows what tge future holds because the idea of decentralization and crypto is to be able to digital currency that can be use to obtain a service, many of the thousands in the market don't provide any yet even though their intentions are to provide utility bit in reality that hasn't been the case, for now price speculation is the order of the day.

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Quote from: MCDev on March 13, 2021, 05:00:55 PM

During this period the tokens of the exchange appear to be dominant over the tokens of other projects.
The success of BNB coin also makes people look more positive about the tokens of exchanges.

Only some coins were dominating the market just like BNB caused by it already created a very big ecosystem and so many new platforms were using binance coin as the base pair for their token on BSC. that gives so many advantage to the BNB holders especially to get more adoption by the newcomers.
When you are comparing the performance of any exchange token and they will have the same graphic. Only one or two tokens will be dominance in the market.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Some of them are not even worth it, in the past, there are so many token-based exchanges, but only a few succeeded in getting support in the market, they want to imitate Binance coin success but unfortunately, they pair very badly in the market, some of them launched ICO but after getting funds, they just run away, one of this is IRONX exchange after getting millions worth of dollars they run away with investor's money.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

There are not many exchanges where their tokens can be successful, I just see that these tokens have real value and meaning from the top DEX and Eexchange in this market. The use of these tokens will benefit the user more, which I don't need to say for sure you understand.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

I think that if there are not too many exchange site tokens in the market. The exchange tokens already issued based on the exchange site's interest to give more advantage to the its holders.
The ICO and IEO platforms were also need such tokens serve and it's not only that.
The defi market is also need the exchange's token. You can see how BNB mostly being used to earn the passive income from the launch pool.
that's proven exchange site token can be used on several sectors.

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Quote from: MishaSER on March 13, 2021, 06:26:14 PM

The cryptocurrency market is very young, of course everyone wants to be the first. It's like in the real world where each country has its own currency, and in the crypto world, each exchange wants to have its own token.

Right now, it seems this is the trend. Each exchange is trying to introduce their own token. And since crypto business is booming and is still growing, expect that there will be more of these exchanges that will create their own token. There are benefits from their end, so it is their advantage to introduce their own. But the value of this token depends on the performance of the exchange itself. Like for example, Binance having their BNB coins. Their value is good because Binance is the top exchange right now. But if you check other exchange tokens, they are not that worth much.

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The cryptocurrency market is very young, of course everyone wants to be the first. It's like in the real world where each country has its own currency, and in the crypto world, each exchange wants to have its own token.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Most of the exchanges have their own utility tokens but not all tokens are worth holding since most of them have no usage in the market aside from being a utility token.

If we’re going to compare those exchanges to BNB, then you’ll probably see that BNB is a different one since its keeps on growing, and making new developments for us. Utility tokens are quiet low in volume compare to other tokens, but if you think its good to hold then go for it because your investment decision is all yours.

J1mb0

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Nearly all exchanges want to issue a token of their own right now, which is understandable once BNB has achieved great success and other exchanges want to follow it as well.
However the number of tokens of the exchanges is so large that the market is in chaos, I think we should only invest in the tokens of the large exchanges.

FinneysTrueVision

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When Binance first created their BNB token I just saw it as a scam to make CZ rich. I still think that is the case but now they have evolved and have worked very hard to make it a credible competitor to Ethereum and it is one of the top cryptocurrencies by market cap.

Most exchange tokens will not have the same level of development that BNB has had so it is useless to invest in them if you are not a trader at those exchanges.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Popularity and reputation of the exchange site is what really matters most of the time, because the future of that token relies. Example to that is with binance, there's a lot of promising tokens listed nowadays which has brighter future. Utility token might take a huge swing, always keep an eye of what asset you're going to hold before altcoins initiate it's own bullrun.

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Quote from: Fivestar4everMVP on March 13, 2021, 03:59:29 PM

Well, personally, in my opinion, I can't really say they are too many of them already, but as we all know, not every of this exchange coins or token are doing well in the market, but a few highly successful ones are really trying their best to get the top coins, take for example, BNB (binance coin) bnb surprised every one with the way it jumped over night to be where it is today.

Since Binance gained people trust and their platform uses by many BNB became a good investors holding as if being part of the company and cam help in doing transactions in a much cheaper transactions when used in doing a transaction. There are too many exchange coins same with the exchanges but only few is really doing well since their exchange itself didn't get people's attention or interest.

MCDev

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During this period the tokens of the exchange appear to be dominant over the tokens of other projects.
The success of BNB coin also makes people look more positive about the tokens of exchanges.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Exchange token is doing really great in terms of market value in the market, good examples are BNB, UNISWAP, 1inch, Pancakeswap, and a lot of exchange token and actually bullish at the moment.

The only thing here is don't invest in an exchange token that you don't think the exchange is not really that great, if the exchange is doing great having a lot of good news and updates that is probably a good indication their token could have a higher market value.

There are also some that do burn their token to speed up the token and actually boost the market value of the token, mostly you use that token in the exchange it sells and most of the people hold this token because it has the utility of value, something like you could stake it in the exchange to get something from it.

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Well, personally, in my opinion, I can't really say they are too many of them already, but as we all know, not every of this exchange coins or token are doing well in the market, but a few highly successful ones are really trying their best to get the top coins, take for example, BNB (binance coin) bnb surprised every one with the way it jumped over night to be where it is today.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

The utility of those tokens depends entirely on the kind of investor that you are, if you are a long-term holder and you are interested only in bitcoin then those coins have no utility for you, if you are a swing trader and you trade occasionally then those tokens can be slightly useful, but the greater advantage comes from those that are day traders, and the reason is that some exchanges offer discounts on your fees for using their tokens and any discount that you can get as a trader is something that you should use.

Personally speaking I really think that there are simply too many tokens created by exchanges and that for the most part they do it just because everyone is doing it, and while those tokens by themselves can give good profits as well it is better to not take the risk because if the exchange fails then the coin fails as well.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

There are many exchanges in the market of which few exchanges are trustworthy. Now before you invest your money, you must check the future possibilities of that exchange. And that is the hardest job. Because verifying so many things in advance is not an easy task at all. Exchanges that are already performing well in the market should be looked at more closely.

Because it is difficult to guess the purpose of the new exchanges, they may run away with your money. So it would be a bit safer to keep an eye on those who are already known in the crypto community as trustworthy.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Term "Exchange tokens" covers lots of exchanges that decided to make their tokens for various reasons. So doesn't the quality of the token purely depend on the exchange and why they made it for? For exchange bnb token is used for binance smart chain. It's a little different from many others.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market?

Yes, there are many of them. You can imagine that most of them really got.

Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

Or is there an obvious market need that such tokens serve?

They do have their own market and it starts from that exchange where they came from. And once that token is noticeable in growth, even it's not on its own exchange, there will be other exchanges that are willing to make its market for them and accept it on their exchange. And for its own exchange, it has a lot of pairs.

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There are not more than 400 to 500 exchanges that are legit, out of them, the better ones will better be followed, if you check coingecko, you will be able to see the lists of exchanges according to their trading volume, the best ones are on the top of the list, you can research if the top exchanges have coins or tokens, like the binance which have BNB, exchanges like huobi also have its own coin and some like that. But exchanges with low trading volume, better not to go for their coins or tokens as it is risky.

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Quote from: crypto-performance on March 13, 2021, 01:14:24 PM

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Yes there are far too many token in crypto-currency, the projects are in-charge of their token, and many give this token a reason or what it does in human activities, cutting across many sectors, this can be words on paper -white paper-. also if you meant are they any regulations, on token and creation of it, not a strong one that's a certain, if there is any at all.

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I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Topic: Thoughts on exchange tokens? (Read 307 times)