Bitcoin Forum

I want to try a new altcoin to fill my exchange wallet which might give me a new trading experience.
Is it more worth considering trading in altcoins listed on the exchange through a voting program rather than independently?

I see lately that these types of altcoins is more able to survive and recover its price after falling than coins that are listed independently, can even surpass new altcoins in the top exchanges. Although I know that many voting sites can be manipulated, but I don't think it will beat the number of the original supporters. What do you think? What is the worst side of the voting program that I need to know about?

Its not bad even the project got listed only by voting program as long as the exchange it is listed has high trading volume. Actually even independent project is okay too. The only concern here is whether that project will give us a good profits.Are you planning to trade for short or long term?

_{Based on experienced. I am frequently voting on Binance Community event and I noticed that the projects are pumping prior to announcement of winner and once became a winner the hype will be gone and soon dump will come.}

Yes, that was my first consideration. By looking at the number of voters, will find out the number of supporters which means it will have a high trading volume. Even though some people oppose it, I'm more worried about coins losing volume than dump prices.

Short term, but if its profitable enough, no problem will be long term (more on active/daily trading).

Unfortunately, I'm 1 week late to carry out my plan because of affaird IRL, but I want to keep trying.

Yes, I'm one of the people who oppose it. High number of voters don't reflect the true nature of that community behind the coin. Just the team are doing good pr and marketing to encourage people to vote for them. Sure, you could say those coins are in Binance exchange at all, so they will catch plenty of users in no time to keep up the price and hype going along with it. That's what you're looking for right? Gains on short term hype when coin just got listed. But I think you should be careful and do a quick research just to make sure those coins in the voting system.

Honestly I'm seeing a new type of approach on choosing coins for trading/investing because I do see most people here are just following coinmarketcap for deciding their coins for trading/investments. You're sounding like with valid reason and I believe that this approach will definitely help you to achieve decent to big profits.

If you mind sharing some more information on your approach, could you please link from where you could get those list of coins which got listed by voting. I heard that not all the exchanges are following the practice of listing by voting. I guess finding those exchanges is not a big deal but are they openly sharing about the information on coins which got listed through voting?

I must admit that I'm going to follow your approach even I am too well aware of the fact that voting could be manipulated. Because, following market cap of coins is not at all helping me to save my capital even in long run :o.

There are many coins of this kind if you search on Twitter with the keyword "listing vote".
Or you can look for it at famous exchange https://www.binance.com/en/vote if you want an altcoin that most people think has good prospects.

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I think not all altcoins that won a vote will become hype if they have been listed on several exchanges before. Hype tends to occur in the first exchange where they are listed. And not all exchanges that vote are altcoin's first exchanges. There are certain conditions until an altcoin is eligible to be a voting nomination. cmiiw

Community voting can help you to choose altcoins to trade with, I participate in this polls, especially the Binance community vote and imo the community picks the coins in the best shape to succeed to get listed.

The coins may dump after being listed, but it doesn't change the fact that the community saw potentials in the coin before voting it to be listed on the exchange ( it could also not be the end of the coin) and since altcoins dump rapidly whether they got listed through community vote nor not, I'd not count it as a disadvantage to this method of listing. If you'll go with community votes to choose coins, still DYOR to be sure.

Obviously fake or multiple votes from one or a small number of people is not a good thing but still listed coins as a result of voting do tend to have big support community that does help eventually in trade volume and even price support, also it indicates the positively charges and passionate community that is determined for the success of the project so yes it means a lot.

It seems OP's approach is good to filter out shitcoins but this approach will work on new coins and to invest on old and good coins then you again need to go for coinmarketcap to refer. I like to suggest to combine both coinmarketcap and voting. This may work like a more effective filter to get short listed coins and then start working on your technical analysis and find your favorite coins to get start investing.

To invest I always suggest to go only with bitcoins or with few altcoins and for trading, we must go with high volume coins. Without enough liquidity we cannot trade through technical analysis. So, after coinmarketcap and exchange voting, I believe volume could be more handy in finalizing the right asset for trading and investing.

in my opinion its depends with the project mate
because sometimes a coin with indepedently listed on exchange will give us more profit
but you do the right by doing your deep analysis on new alts

Neither of the two because in both voting ways would really signify out that theres demand.Manipulation is always there but as said it would really be
composed of main supporters of the project.The thing here is that,if the coin is being listed via voting system then you can really think of that
theres a demand towards a certain project and come to think that Binance do have it and to know that criteria wont really be that simple
in most cases thats why we can presume that only good projects can withstand.

But sometimes, when I vote in a new project, the results are not very suitable for the chosen exchange. An example is, such as 80% of members in the group choose Binance for the coin listing. When voting, we can know how much each exchange gets its vote. But what happens at the end is that they do not choose Binance, but other exchanges that only get very little voting.
The question is, if so, what is the function of the voting? sometimes I feel funny to see it.

Related to the listed coin by voting in an exchange, although it may reflect many manipulations, at least there are few percentages of the members that really vote for it. SO, I think that it is not bad enough.

however, for noted, trading altcoins will require high risk that Bitcoin, moreover this is a new coin that has been just listed. Are you serious about it?

"usually" project are listed on exchange by voting don't have good performance at the market than project are listed independent, because independent project may have much money for moving their coin than voting project.

but not that all voting project are bad/have condition like i said above, just litle bit from overall

they have ability to survive because winning in the voting means that coins / project have supporters that willing to vote for them just to be listed.

But also take a look if its just a free vote or they exchange the vote of each users for a free coins .I mostly see many project doing this and the result will make it different since all those users receive a free coins , they can sell it the time they are listed and it can affect the price in the first week of trading.

I don't have the habit to believe in any kind of voting such as pools like this. The reason is that in this cryptocurrency market, the developers or the project team can control the pools if they want. Therefore, I prefer to do the research myself in order to make a decision for investing or trading! Besides, I'll consider the pools and others' words as preferences!

Nothing is wrong if you invest in projects that get listed on exchanges through voting system or campaign, this doesn't judge if the project is a bad one or a good one either, for example Cartesi plans to get listed on gate.io exchange today through a voting system a big new project for that matter. Voting don't define a project or it's capability

How do you believe this? Chromia project win on Binance by voting. Yes they got dump but able to recover more than 100% profits. So I guess not all voting winner on exchange are not good. It will depend on the quality of the project and not because of the market it was listed.

But of course we cant compare all projects some dont progress. Im just saying that this statement you said is not all true and sometime can have a good result.

money now take less power when developers team want bring their token or coin into reputable exchanges such as binance. binance already make statement that they will list to qualified project only, no matter how much money they have to pay listing fee. and also community vote project that released by exchange team represent its quality itself. impossible bad project will included in community vote, exchange only will allow good project only which is give them much benefit in future.

Personally, I like to invest in listed projects by voting, but sometimes voting is manipulated, which results in emptying and price collapse. Community interaction with the project should always be monitored, are there really real supporters for it, or is there a free currency distribution by developers through a campaign to get the attention of investors and their accession to their project?

I have friends who have suffered losses while joining the voting projects. Most of them talk to me saying that they were incredibly tricked and manipulated in the elections. There are those who advise me to invest in Bitcoin and alt coins classified in the first positions!

Voting can be easily manipulated with multiple accounts, I don't trust voting systems, you can invest in projects that are listed by voting, this doesn't degrade the project, what matters is the project features and use case

All votings can be faked through the bots. so many people have large robot farms and can use them as they want. This excludes fair voting. people can do it to their own profit

In some exchanges that have high liquidity, new altcoins often reach ATH sometime after trading begins. That's enough to tempt the mind. With the support of the winning in the voting event, it may become increasingly a good consideration to be the next altcoin option to trade.

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I also follow the updates of these 2 altcoins, cartesi also includes new altcoins which are quickly listed on the top exchanges. This may be my next option.

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That is my point, the means of voting become my benchmark to find out natural supporters who will most likely be able to maintain trading volume. I think not all voters are only free coin hutners, there are also potential traders.