This is wonderful news! Looks like you have a solid business plan as well as a talented support team. When viewing the current crypto landscape, from an exchange point of view, the primary concerns are attracting customers, trading volume and finances.
There are different ways to go about this including:
1) Adding many coins (difficult to manage and causes market saturation and performance issues)
2) Adding just the main long term established coins / "bread and butter" (brings nothing new to the market and relies on luring other exchange's users)
3) Adding a blend of established coins and new coins (can be risky as the newer coins can be harder to predict volume/trading interest)
Personally I feel approach number 3 to be the best and most conducive to success. This appears to be the strategy selected by CIPHERTRADE which I find refreshing and exciting!
Now the question comes to coin selection.
1-3. listed coin choices (plus NMC) are all solid and established currencies and in my opinion great bread and butter coins to build on
4. Primecoin is new, but unique with a large following and top notch dev team. Although newer, I also view this as a bread and butter coin due to its listing on major exchanges and creator (these first four, sans NMC, ironically are the only ones that I am invested in other than CGB - which in full disclosure I am involved with on the development side)
5. ANC is a very interesting coin that fills a niche and has an established following plus exposure on numerous exchanges. Although it has had issues in the past, it treads in some uncharted waters and appears to have long term goals. Your reasoning for addition is valid, however I am one from the school of thought that if the Govt wants to shut something down, they will find a way.
6.
The proposed coins mentioned in your thread:
Quark - new currency with explosive growth in the past couple of weeks. Extremely popular at the present and has a rather unique design. I am not sure what the future plans are for this currency though as I could not find any white papers or mention of development plans (I could be wrong).
Megacoin - another new currency with explosive growth in the past couple of weeks. Very popular in China and listed on a couple of Chinese exchanges. Very strong community support and seems to have a talented dev, although not very accessible.
Feathercoin - one of the first coins to come along that would not classify in the bread and butter category, yet old enough that it could be included. I think this is a solid addition but not in the category of adding something unique to attract market share to your platform.
My proposed addition:
Cryptogenic Bullion - bet you didn't see that one coming! Cryptogenic Bullion is another one of the newer currencies. Here are my reasons to suggest it for consideration:
- Hybrid algorithm to provide added security as well as to pay interest via Proof of Stake
- Extremely scarce (~1 million) so the cost per unit could expand exponentially and still be undervalued
- Large marketing budget that helps to bring crypto exposure to new markets (appeared 2 times on Yahoo finance, well over 10k likes on FB, etc)
- Offers annual awards for development/services (first awards this month)
- Devoted, innovative, top-notch lead dev who is public and available
- Major project in the works to tie to CGB (see MADEsparq)
- Fluctuation between #8 and #16 market cap in the past few weeks
Cryptogenic Bullion has made these accomplishments while having the least opportunity for exchange exposure in comparison to any of the other cryptos in the top 20 market cap. Really amazing if you think about it. The unknown is where does CGB volume go when it does finally start to get its opportunities for exposure? My biased opinion says through the roof, but something for the CIPHERTRADE team to consider.
BTW, all of the suggestions in the OP are excellent and in my opinion should also be added. I think a good balance of 4 established bread and butter coins plus 4 new addition coins is the recipe for success here.
Good luck and Godspeed!
- Apologies for any grammatical errors in posting as I have a fussy baby in my ear while writing this.
