An extraordinary miracle. How cryptocurrencies get on the exchange. The listing of digital money is a complex process on which the further fate of the coin depends. For more head-to-head information, unique skills, predictions and more, visit this crypto listing agency.
Key figures for crypto listing
Of course, the detailed methodology for checking cryptocurrency startups is kept secret in order to exclude the possibility of influence on its result from the outside, but some general parameters of quality assessment are known:
- Having a working product with a clear and understandable business model is a prerequisite for the consideration of the application.
- Preference is given to platforms with their own user base: this approach allows you to predict the level of demand and liquidity, based on factual data, rather than theoretical models of marketers.
- The evaluation of the development team is also carried out: past achievements and the availability of relevant competencies are taken into account. A mandatory requirement is the transfer of real personal data of at least one team member.
- The project being evaluated should serve to implement an idea. Forks without significant differences from the original and prospects for independent development have practically no chance of getting into the Binance listing.
Binance CEO Changpeng “CZ” Zhao expanded this list and even provided it with a number of recommendations for job seekers.
Monitoring of crypto listing
Preference is given to projects whose monitoring is organized in a special Section of Binance (now includes more than 1000 reviews). Each platform here is assigned a rating from A+ – the most reliable, with the least share of risk to D – the “junk” level, which indicates the presence of insoluble technical problems, a bench or the closure of the project for other reasons. Even those coins that have already been listed are tracked. This system allows Binance to solve two problems at once: to create a simple and open to a wide audience decision-making mechanism for each specific cryptocurrency and to retain the ability to respond quickly in case of problems with already traded coins.
This section is a direct analogue of traditional rating agencies, dedicated exclusively to cryptocurrencies.
Listing fees are a necessary barrier in the way of those who like to talk a lot about the great prospects of their project, but do not want to do anything to achieve them. If such people are sure that, in the end, they will still have to pay a large amount in bitcoins, then they will significantly reduce the desire to conduct useless conversations and waste their own and others’ time. In addition, the “entrance fee” covers the costs of adding a new trading instrument and compensates for subsequent risks. The amount of commission fees can be very significant and is determined after an individual assessment according to the Binance methodology. The higher the level of risk, the higher the price developers will have to pay. It is known about the amount of $ 1 million for Bitcoin Private or $ 2.5 million on the date of publication of the tweet or 400 BTC for Expanse.
Large exchanges diligently choose applicants for listing: they are interested, first of all, in potentially high trading volumes, good prospects for the development of a particular project and the growth of the user audience associated with it.