How not to drown your token in the sea of cryptocurrency exchanges
It’s no secret that the listing conditions are different everywhere. For example, listing on the Bittrex exchange is free, but the exchange examines a project and its currency very carefully- for example, you need to provide a document certifying that your project’s token is not a security. In some cases, they demand the documents of a team member or a project’s founder, sometimes it is necessary to show the NDA of an employee. Many exchanges check the security of a smart contract code and require a GitHub link to it.
Some exchanges, for example, LATOKEN, are ready to place almost any token, but for money. The cost varies from project to project, but usually equals 3 BTC. Small exchanges are sometimes ready to place tokens for free, but they take a significant part of the tokens released during an ICO and dump them.
One should also take into account the national aspect — some exchanges work exclusively with the Asian market, while others, on the contrary, with the European and American markets. Accordingly, they have different requirements for projects.
How to choose an exchange for listing?
Members of the crypto community give different pieces of advice. Some write that listing is necessary in order to make a token “visible”. According to statistics, the price of a token grows by 25% after it gets listed on an exchange. The larger and more popular the exchange, the greater the amount of investments that can be expected during an ICO and (in theory) the higher the confidence and interest of investors in this token.
Others say that it is quite possible to start with listing on small exchanges, many of which are free, and only then switch to larger exchanges like Coinbase. The main thing is to make sure that these exchanges support mobile applications, so that investors could buy tokens directly from their smartphones.
Experts also advise to carefully check the reputation of an exchange and read the reviews on BitcoinTalk before listing. Although, this is self-evident in a sphere like the cryptocurrency and ICO market.
What am I driving at?
Since January 2018, when we started working on the FairWin platform, our team has come a long way as game developers. We spent 90% of the time on the development of the platform and games, and only 10% of the resources were spent preparing for the ICO (usually the opposite is true for blockchain projects).
A month ago we launched the alpha version of the platform and several games for it: the Yggdrasil slot about the magic Norse tree and two classic slots — Secrets of Egypt and Tikal Riches. There are a few more games under development, which will soon be published on the platform.
We plan to launch the platform with the FWIN tokens and publish the token on cryptoexchanges in early 2019. So now we are looking for suitable exchanges to place our token.
If you have any advice or recommendation on this, leave comments or write in our chat.