Topic: Why are exchanges still listing shitcoins? - page 3. (Read 1498 times)

You cannot have the negativity about such exchanges because with an exchange that few users, they really won't take the time to care about their reputation, they just want to profit from advertising and listing, they created this platform just to try to attract creators, help the market have more rubbish, instead of cleaning up all. However, with the exchanges that are crowded, plus the reputation recognized by investors, they will not care about a bit of money for advertising and ignore their reputation, you can see that binance always has very thorough filtering

That is the reason why.

A lot of people are asking why they are still listing those coins but these exchanges earned from it via their listing fee. Another thing is that they can't really ignore some of those coins since each exchange has its own coins they accept. You can read this article, this is an article last year but still, it can give you the idea.

https://cointelegraph.com/news/how-do-crypto-exchanges-select-coins-what-does-it-take-to-get-listed

Because of the innovation of the bitcoin today it will show now a lot of different coins because the developers of those coins are expecting that the price of their currency today will now become popular and get a lot of investors, but some of those coin develops is cannot survive into the world of crypto trading and market. For now, we are calling them as the dead coins; those coins sometimes do not have any value, and there are no reserve trades; those are just a coin still listed to the trading platforms, but there is no any transaction.

bro, do you think they were care about traders on their exchange? they dont care about it at all, as long the new coin developer pay them listing fee and give them traffic & volume for about 2 week before the shitcoin going dump and no one buy it is enough for the exchange list them.

take a look at crypto-bridge, they known as popular masternode coin exchange that listing any shit or scam masternode coin as long they got paid, while investor get scammed

Yes if you are reputable exchange you will not destroy your name just for the money you will get for listing shit tokens.
If you are traders and you dont want to trade shitcoins then its better for you to use only trusted exchange , in that case you will not be a victim of fake volume and fake trades from shit tokens/coins.

Exchanges which has some good reputation not bothering about listing those fake coins, but only low valued exchanges are listing these fake coins for listing fee. Every exchange should research a lot about the coin listing and this will surely improve their standards.

The first thing I'm thinking is because of the listing fee that they can acquire from the particular owner of that coin. The more they list coins regardless of their intergrity, they don't care as long as they get the profit. The second thing that I'm thinking is that they believe that shitcoin could become a reputed coin just like other coins in the market who has a huge market cap whom just started from being a shitcoin. We can't really underestimate the potential of a coin as all of them can be successful once the demand overwhelmed.

They are doing so for selfish reasons. Listing is not free, it is either you paid in BTC of with the project tokens which will be immediately dumped on the head of unsuspecting traders who cannot do a little research. Exchanges could have been an instrument to clean up all these messes but they choose to act otherwise.

I don't see how that is unfair to us cryptocurrency investors honestly. As if these shitcoins still have the chance on the market to gain value. As what you have mentioned, it is all for profit. They wanted to gain more revenue from these shitcoins apart from the. Profits they gain from the withdrawals and possibly website traffic. And I don't see anything hostile about that. If anything, this balances out the transaction fees that they impose per withdrawals since they charge it to someone else instead of throwing it down on the consumer's end of the string. It is weird, yes. But not hostile.

Now a days shitcoins are also playing important role in cryptocurrency platform. Long term shitcoins gives good revenue in this field.

True that investors should take care before trading coins on exchanges but exchanges that list literally any coin also cannot be trusted. Coinexchange was such that listed all unrecognized shitcoins and people started leaving the exchange. Result was the trading volume was low and they finally shut down their exchange. Such exchanges should be boycotted as earning funds shouldn't be everything. Many exchange delist coins for many reasons but listing a coin without any website is the biggest blunder.

Life is unfair as always and these platforms do really take advantage on such thing for their own benefit.Is this stuff still surprising? Definitely not.
They would list as much as they can and ask out listing fees and sometimes its even free but somewhat their reputation is on exchange if they do
list a ton.

We do see some exchange now that had been flooded by lots of tokens but to think that it doesnt give something new.Its good for people
who do trade those shitcoins but majority would much preferred on coins which had been established and been supported by years.

Although I'm not in supposedly of the practices of the exchange but still it's our personal duty to care for our investment. Don't use an exchange as a wallet neither should you depend on them for investment guidelines that's, don't go trading a coin or investing in a project, just because it's listed on an exchange you love. Many noobs engage in this practice, you see people buying or trading a coin just because it's listed on Binance not understanding that a project been listed on Binance doesn't guarantee it's a safe investment.

If I'm not mistaking a coin has been dislisted from Binance due to some controversy of the CEO and the law enforcement agencies, users that bought such project without carrying our personal research and relied on Binance for investment advice lost all or most of their funds since the project dump massively.

obviously it is all for money and not for the safeties of their subscriber,and this is a BS on exchanges users like  us in which we are entrusting our money in their platform without them caring for us ,this is unfair for a cryptonians.

And some bounty hunters is also at fault here.

In the past year, a lot if investors are avoiding some projects since there are a lot of bounty hunters that ruin the projects. As they received the percentage they wanted, they immediately list them in market to sell with lower peice. More will follow and the price is getting lower and lower. There are a lot of coins that is not shit to start with.

Because they are getting their listing fee so they aren't interested in researching about the project. Also, it may be more unknown and unreliable exchanges listing unrecognized coins and not the trusted ones. It just makes investors/traders lose their money trading a coin that won't get them any profit.

Bitmart have published their article mentioning they did their reasearch They have just mentioned their explorer information, nothing else and the coin surprisingly is doing good with a market volume of 0.13 BTC. Will send them an email to know their reason and update more information here.

I think this is a matter of profit. There will be many shit exchanges born just to list shitcoins to earn a few coins. without exchanges with the low-end segment, small ICO projects are nowhere to be developed. They all work, but most shit exchanges often cheat investors more. So if you see an exchange that tries to list all the coins with a bad volume, it's definitely one of the shit exchanges, so avoid exchange like this.
Also, I have had a bad experience with these shit exchanges, avoid them in the future. Yobit exchange, P2PB2B, Bcnex, Exmarket.

There were exchange that do list without particular fee and its true that this one do really affects reputation on said exchange.
Since community would able to know on which one is shit and which one isnt.When they do saw lots of shit coins flooding then
it would be reflected for said exchange to be shit too.Its better to have few but listing out those solid ones.All goes for the money
on listing everything.

That's because these exchanges have very bad strategy, they want to collect money as soon as possible (asking some fees to place your coin). But they can't understand one thing, this situation is pretty similar of following: Imagine you are selling good apples and someone asks you to keep his bad apples with your good ones and he offers you great fee for it. You agree with it and collect money quickly but you didn't understand that these bad apples will make another apples bad and in this words I mean that adding of shitcoins will ruin your reputation. That's not something exchanges should want but they don't care so, take it easy.

There is no advantage disadvantage thing here. it's a complete capital market and  everyone here is merely to mint money. Shitcoins raise some money for their coins and then later pay a certain sum out of it to shitty exchanges for listing them both of them are happy as the coin owners can now sell their coins on these exchange and exchanges are getting some money and certain volume along with it too. But this isn't a very big business these days and would soon end. If you want to get a list of exchanges recently added on any exchange have a look here: https://coinmarketcap.com/new/

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This isn't really true and if you think this then maybe you should realize that Bitcoin is the only currency these days which is used merely for trading on exchanges. Many new coins are actually having utility behind them and can't really be termed as shitcoins. just for instance ETH pretty much proved how smart contract can be useful for the world and enable creation of tons of ERC based tokens. ChainLink is also working on pretty much same concept and not to forget IOTA. I know so far results provided by any of these altcoins haven't been remarkable but leaving the first mover advantage there is nothing special even about bitcoin compared to altcoins.

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Actually exchanges with even minor volumes charge a lot for listing. The fees is enough to give the owners a pretty good profits. Reputation really don't matters to such exchanges as they know that they can never compete in the top tier.