Tell me how to promote the token? And which exchanges have the cheapest listing?
Are you kidding right now, because I have not heard anything like listing fees for exchange for a long while now, I thought coins/tokens get listed without any fees and in most cases what is required for the coin to get listed on too big exchanges is the coin potentials and the ability to prove to exchange that it will be a good project if and when listed.
Top exchanges as far I know, charges huge amount to get them listed, again, if my memory serves me right, could be around 1
BTC.
But this is way back around 2017-2018. So for sure listing in top exchanges like Binance could have hefty sum of money.
Any exchange that takes fees from projects to list their coins is not legit at all since scam projects could easily pay the fees just to get their coin listed and thereafter do an exit scam on the coin holders.
Exchanges take fees because it's business though, I mean it's like they are the facilitator, so as a project, you will used their name to have your coin on them.
So it's mutually exclusive, exchanges facilitate you pay them, you used their trading platform. Your project them will be exposed to traders.
Maybe in the beginning, this project doesn't have any money to list to top exchange that's why they chooses the cheapest, but for me, this is not good practice.
Better to start your foot in a good exchange regardless of the fees because for sure you can get it back.