MOBbrothers (OP)
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December 17, 2018, 11:51:29 AM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
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gilangIDR
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December 17, 2018, 02:19:57 PM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
For me, the increasing number of exchanges will definitely make the platform exchanges try to provide the best service. This is a healthy competition and we as Traders certainly want the best exchange service. So this will not disturb investors and even can cause a sense of giving the best from the exchange platform. There will be no manipulation because all exchanges will compete to attract Traders to transact on their exchange. |
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hugeblack
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December 17, 2018, 03:01:16 PM |
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I didn't understand your intent or maybe because I think " convince investors into storing their tokens" is wrong, I understood you wrong. Most of the projects are for quick sale, and the roadmap of the project is planned for a year or two and not long-term projects. I remember that the developer team of one of those projects sold all their tokens as soon as the price went up.  All that is happening now is that the platforms are trying to be central banks and sell people more illusion. |
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LeGaulois
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December 17, 2018, 03:05:42 PM |
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The idea of cryptocurrency isn't to make people hodl a coin and sell it later. You got it wrong, a currency is to be used as a currency,.. Trading platforms run competitions but it's just to promote their new trading pair added. Nothing more, it's just a marketing trick to encourage people. In the same way that a merchant site can offer a discount if you subscribe to their newsletter. Are their no effects of these to the community and the project developers? Like what? global warming? unemployment? |
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Pursuer
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December 17, 2018, 03:58:43 PM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments.
very WRONG! the reason behind altcoins is pump and dump. even if they weren't pump and dumps, what you said is still not the main reason for cryptocurrencies! the main reason is for them to be used. so they should have encouraged the users to adopt the coin as a "currency" which is in their name also. and encourage merchants to accept their coin as payment as some projects are doing with little success. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well.
Why are Exchanges promoting Trading competitions?
it is simply because a trading platform doesn't care about anything except making profit. and the only way they make profit is if more people trade more on their platform so that the volume increases. hence the promotions,... Are their no effects of these to the community and the project developers?
a project must be solid enough so that it is not affected by how people are using it! and also be free enough so that anybody uses it anyways they like. |
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Upgrade00
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December 17, 2018, 06:03:41 PM |
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Its pretty simple really, exchanges profit from regular trades, and trading competition is profitable, hence they promote it. One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading.
That is definitely one of the reasons, that is the idea sold by upstarts and ICOs, still trying to get a foothold. With bitcoin, regular use smis encouraged to boost adoption. |
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Nonie
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December 17, 2018, 06:30:36 PM |
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I think the trade competition is there to market the coin or to make it look a lot of volume so that other people are interested in joining or becoming a long-term investment choice because the volume of trading is crowded
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stomachgrowls
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December 17, 2018, 06:42:00 PM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
They do really make such competition not only just for promoting their platform but in all angles we can really see on what benefits on both sides it can give. Either on the coin developer or on the exchange itself. So, these competitions turns out to be just like a common thing to be done specially if the exchange is starting up or on popular exchangers that list out a new coin.I dont see it to be a compulsory thing but i do see it as a must-thing to be done. |
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ShowOff
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December 17, 2018, 07:27:14 PM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
I think it is only to promote their site, with trading competition, people asked to use all services in that exchanges site. Beside of reward, when people like all features in that exchanges, it can attract people to trading again in that site. |
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Dimon8
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December 18, 2018, 08:36:54 AM |
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I think that the stock exchanges promote trade competitions in order to attract large traders who will give large percentages of trade transactions. The more trading pairs and the volume of trade, the more attractive the exchange.
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rodalutor
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December 18, 2018, 10:25:49 AM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
It creates interest and volume in a token from people who otherwise wouldn't notice it. It's a win-win situation. The token developers get recognition for their token and increased interest. The exchanges get increased trading volume and so increased profit from fees. |
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nicolas1979
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December 18, 2018, 11:14:59 AM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
They try to promote their platform exchanges and give users knowledge about their tools. This is very good and effective method to increase their customers numbers and also advertising about their services. Like or not join with trading competition in exchanges will create positive impact into their platform. As long free and no difficult rules, join is very recommended. |
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gtcms
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December 18, 2018, 11:41:38 AM |
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I think it is obviously that trading competitions are just a part of marketing strategy of some exchanges. Now it is very difficult to attract new users, so exchanges and trading platforms are trying to make different promotions, and trading competions are one of them.
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D3m1r4wanti
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December 18, 2018, 01:03:43 PM |
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because the more people trade on their exchanger, the more people make deposits and WD and from the cost of withdrawing members to the exchanger's profits
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proTECH77
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December 18, 2018, 01:28:46 PM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
Exchanges promote trading competition just for one major reason which is profitability to the said exchange. I have participated in some on these competition and won with little or no efforts but many competitors which were not skillful enough in trading lost all their deposit in the exchange which make the exchanges gain as they loose. The more reason why they embark on trade competition is also for the exchanges to advertise their token to investor for investment. |
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leavolnhals
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December 18, 2018, 02:49:30 PM |
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I think they want to create a large volume of daily transactions and they create a community. They do not advertise their trading platform anymore, they spend money to get many traders to participate in the competition.
This will give traders the habit of trading at their trading platform. From there they will have more customers.
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Kevin77
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December 18, 2018, 04:09:29 PM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?
Because they make money from trading fee's and they need volume in order to look higher in the exchange lists whereas they would not loss anything from it. It means there are three reasons for them to do this, lets take a look at them one by one, first of all they do make money from the trading fees and when hundreds of people trade in order to win the competition the exchange make a ton of money from the fee structure. Secondly, they are known because of their volume, any exchange that is 108th or something on the volume list is in danger of closing the shop and leaving, which means they do not really make a lot of money and when they are at top 10 that means they are getting bigger and bigger, so trading volume increasing not only makes money for them but also puts their name out there. Compared to all of this positives, they only give out one gift and that probably costs less than the trading fee's they made so third of all they do not lose anything because of it. |
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harizen
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December 18, 2018, 04:59:48 PM |
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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. As much as the usual scenario is concern, no it's not. Projects will be benefited in the ups and downs of the value of their respective tokens therefore no such thing as avoiding trades. More liquidity higher the volatility. Currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well.
The increase of numbers in exchanges and trading platforms around will result in a strong competition. The benefits? Trading platforms will do anything to meet trader's criteria when choosing a platform. Are their no effects of these to the community..
The downside of increasing numbers of trading platform is they are risky to used especially the new ones. |
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Leonard2016
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December 18, 2018, 05:16:51 PM |
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The main reason for that is advertising , they get pay from that coin or token to promote trading competition or deposit competition or something like that , I think it is a good idea for both traders and the exchange , I have joined to some of them and have gained something .
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johanesrobin
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December 18, 2018, 06:08:10 PM |
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This is a kind of advertisement / promotion so that traders are interested in entering and making transactions. this is an easy question.
usually done by new exchanger to attract new traders and offer some of their features.
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