Thoughts on exchange tokens?

[michellee]

My experience is not good with exchanges tokes so far. I would say very few exchange tokens are worthy on the other hand I have some 5-7 exchange tokens and none of them have good value so far only B2b exchange coin pays me some good return. If we see Binance there is no match of Binance with other exchange coins but I have noticed in the past 1 year some good exchange projects introduced and their dev is doing good. But whenever you plan to buy exchange tokens do due diligence properly otherwise you can repent later.

You are right. What I do not like about DEX is the fees that are too expensive. Binance is enough for us to trade because that exchange has many coins or tokens that we can use to trade. If the new token is only available on the DEX, maybe we can wait for a while to see that token will be list on the major exchange. And if the dev wants to grow their project and reach more traders because, in the major exchange, they will have so many traders from many countries that want to profit from the new coin or token.

[lobo13hf]

Yes, DEX is a helper to boost Exchange in general, so the use of DEX by some people in crypto will obviously be very beneficial in real terms and can benefit exchanges on the public channel, so that their tokens always have a good value in the market.

Is not it the market will determine the price of token? i see that when the project has a FOMO and that will make the price will be going very high but again community will determine this.
It's not all of dex can have a good value dude. The majority of the small dex has their own token that traded in low value.

Only a few exchange token that has good value at this time.
People are also hyping the good exchange token.

[Jackl87]

I'm keen to know what the general consensus is on the value and utility of all the tokens that exchanges and crypto portals release. Are there too many of them in the market? Or is there an obvious market need that such tokens serve?

Well at first sight i think most people would say that there are way to many exchanges and exchange tokens out there. Some of those small an new exchanges are having a hard time to generate enough volume to make profit.
On the other hand it's always important for every market or industry sector that there is competition if we would only have binance and coinbase they would have way to much power.
So for me it's a good thing that new exchanges are trying their luck regularly to get a little market share.

[DaMut]

What is the problem for an exchange to have their own token? instead it is good for both parties.
it is just like a member card for the user when we can get benefit from having one while in this case some exchanges are charging less fees for the holders.
and for the exchange themselves they can get fund to keep developing or maintaining their platform.
we have seen a lot of shitcoin created everyday, so it does not concern us at all as long as the exchange works as expected.

[michellee]

My experience is not good with exchanges tokes so far. I would say very few exchange tokens are worthy on the other hand I have some 5-7 exchange tokens and none of them have good value so far only B2b exchange coin pays me some good return. If we see Binance there is no match of Binance with other exchange coins but I have noticed in the past 1 year some good exchange projects introduced and their dev is doing good. But whenever you plan to buy exchange tokens do due diligence properly otherwise you can repent later.

You are right. What I do not like about DEX is the fees that are too expensive. Binance is enough for us to trade because that exchange has many coins or tokens that we can use to trade. If the new token is only available on the DEX, maybe we can wait for a while to see that token will be list on the major exchange. And if the dev wants to grow their project and reach more traders because, in the major exchange, they will have so many traders from many countries that want to profit from the new coin or token.

I started trading on binance DeX when binance IEO was very popular. In the past, several tokens made IEO sales on binance that switched the binance blockchain. and they are not directly listed on the main binance exchange.
I think binance DEX is also more friendly than other DEX when it comes to trading fees.

When it comes to the past, I am sure we are love to trade in DEX as the ethereum price is not too high and the fees are not too high. Even I do not know about Binance DEX, I heard that people used it to trade many tokens, but I do not know about the fees on that exchange. But if the fees are not too high depend on the other DEX, then Binance Dex still worth using.

[criket]

What is the problem for an exchange to have their own token? instead it is good for both parties.
it is just like a member card for the user when we can get benefit from having one while in this case some exchanges are charging less fees for the holders.
and for the exchange themselves they can get fund to keep developing or maintaining their platform.
we have seen a lot of shitcoin created everyday, so it does not concern us at all as long as the exchange works as expected.

You can see that many exchange platforms are currently present on the crypto market. they are promoting not just their platform. but also related to their own tokens that can later be traded on an exchange.
there is nothing wrong. but it looks like a strategy to keep the exchange busy with new coin events.
like IEO on binance. which indeed requires IEO participants to have a BNB before being able to participate in IEO sales.
but I prefer exchanges that are up and running and recently releasing their own coins. they already have a market then make a sale of their own coins once their platform is up and running.
like NOMINEX which has just released their NMX coins which have been opened on several exchanges as well.

[cabron]

What is the problem for an exchange to have their own token? instead it is good for both parties.
it is just like a member card for the user when we can get benefit from having one while in this case some exchanges are charging less fees for the holders.
and for the exchange themselves they can get fund to keep developing or maintaining their platform.
we have seen a lot of shitcoin created everyday, so it does not concern us at all as long as the exchange works as expected.

You can see that many exchange platforms are currently present on the crypto market. they are promoting not just their platform. but also related to their own tokens that can later be traded on an exchange.
there is nothing wrong. but it looks like a strategy to keep the exchange busy with new coin events.
like IEO on binance. which indeed requires IEO participants to have a BNB before being able to participate in IEO sales.
but I prefer exchanges that are up and running and recently releasing their own coins. they already have a market then make a sale of their own coins once their platform is up and running.
like NOMINEX which has just released their NMX coins which have been opened on several exchanges as well.

Except IEO is not very much a popular way of getting funds anymore. It's not what is being done these days, most are up to just doing presale or Initial DEX offering (IDO). Nonetheless, exchange tokens are still good tokens to invest in when the exchange is being used by traders. Exchanges that are gradually earning trust are the good ones to invest with.

Just hope that NMX isn't going to mess things up.

[tygeade]

I believe things like Uni token and Cake token are actually quite good, they are really doing something great with those because it is really profiting you something while owning it but you can also govern it if given the right as well. Think about it, you can increase the trading fee and make more money but lose customers but you could drop it and decrease the profits but gain more people, maybe one way you would make more money or the other way you make more money, it is given to you.

I think it is a great deal to own an exchanges token, there are way too many things you can do with it, and I like it considering there is a reason for it to be bought, there is a usecase, all those staking and liquidity providing, those are amazing things and that is what I have been looking for in a coin, a great usecase that people would be willing to use for a long time so the token would worth something.

[galestorm]

Far too many exchange tokens out there. A crypto exchange may launch its own token for a variety of reasons, and exchange owners often give tokens to users as incentives. A token presents a company's share, give access to product or service and perform many other functions. It's viability however depends on the success of the company's project. Some would launch their own exchange tokens without legitimate products or services, which then leave the buyers with nothing but invaluable tokens. Be careful out there.

[TastyChillySauce00]

What is the problem for an exchange to have their own token? instead it is good for both parties.
it is just like a member card for the user when we can get benefit from having one while in this case some exchanges are charging less fees for the holders.
and for the exchange themselves they can get fund to keep developing or maintaining their platform.
we have seen a lot of shitcoin created everyday, so it does not concern us at all as long as the exchange works as expected.

As long as the coins released by the exchange have some kind of utilities then most of us are fine, heck even I usually don't really care about an exchange releasing a new coin. Maybe people are fussing about how some exchanges created their own version of token or coin just for money grab but i suppose most of people could figure out which one is worth the investment.