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Author Topic: Exchanges Tokens  (Read 1479 times)
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November 06, 2019, 07:47:42 AM
 #81

I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.

You are true, exchange tokens are centralized, they can´t work without the exchange. But also many people are buying these tokens just for that. Exchange tokens are backed by a real business and brings a profit from exchange earnings, so this system should work. But if exchange becomes hacked, your token could become worthless easily.

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November 06, 2019, 07:56:24 AM
 #82

Yeah, you're right, According to my own experience, if the exchanges of that tokens got closed, its token will become zero value. There are tokens who become like that. Ziggurat, Octaex, and some other exchanges their tokens are now zero value. because no more investors gonna try to use their token because on no more developments.
I just heard about it, if so, it is important for companies or projects that have their own tokens to prioritize the development of their tokens and not just focus on developing exchanges. because what is worried about the value of the token becomes worthless and left by the user.

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November 06, 2019, 08:33:19 AM
 #83

I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.

Binance has shown how it can work with BNB. of course, this has directly made all other exchanges
nervous and sensitive. for this reason, everyone wants to be here and get their piece of the cake. Cool
just like the ICO wave started some time ago. that's what has happened recently with the exchange tokens.

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November 06, 2019, 09:07:04 AM
 #84

I don't think that the tokens from some of the exchanges you mentioned will die. An example is BNB, besides being used on the binance market as a trading pair, BNB is also traded in many markets. Don't you think they now have a strong community in the market ?

I agree what you think that stock exchange tokens will not die, evidence like BNB is already the best coin currently in terms of volume, Even BNB coins are already available in many of the best markets.

 
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November 06, 2019, 09:08:32 AM
 #85

I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.

You are true, exchange tokens are centralized, they can´t work without the exchange. But also many people are buying these tokens just for that. Exchange tokens are backed by a real business and brings a profit from exchange earnings, so this system should work. But if exchange becomes hacked, your token could become worthless easily.
It needs to be recognized that the exchange tokens do have an advantage because they have a real project, as long as the exchange is still running, the tokens they have will remain

 
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November 06, 2019, 09:30:00 AM
 #86

I have hope that all exchangers who have token exchanges will support one another for the overall development of cryptocurrency.
but there are some exchangers who are too selfish and don't want their exchanger tokens to be listed on other exchangers for various reasons.
We don't know the reason maybe it's part of marketing strategy not to allow exchange tokens since it's a direct competitors. But it shouldn't be that way, if they are concerned with crypto in whole. They should accept competitions and let the investors to buy which coin or project they've think will excel while inside the market. Common did by investors are always seek for good opportunities, Binance bring the concept and now it's been followed by known projects around.

 
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November 06, 2019, 09:31:04 AM
 #87

I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.

Most native tokens are used to discount transaction fees. As far as I know, only BNB Coin launched DEX and this has attracted a lot of tokens to switch to using the BNB Coin network.

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November 06, 2019, 11:55:21 AM
 #88

they don't just promote their coins in their exchanges guys. they also promote on facebook, twitter, linked, youtube, medium, etc. like binance they provide IEO with a purchasing system using BNB, hotbits with HTB holders will get discounts on withdrawals and trading. it is used so that investors and traders are interested and use their exchanges. so that their coins stay alive.

 
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November 06, 2019, 12:18:39 PM
 #89

they don't just promote their coins in their exchanges guys. they also promote on facebook, twitter, linked, youtube, medium, etc. like binance they provide IEO with a purchasing system using BNB, hotbits with HTB holders will get discounts on withdrawals and trading. it is used so that investors and traders are interested and use their exchanges. so that their coins stay alive.
I think that now it is necessary to buy all exchange tokens and leave for the long term. within a few years, these coins can bring 1000 percent. it’s not clear which of them, but some part of them  will definitely be very profitable

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November 06, 2019, 12:20:21 PM
 #90

I have hope that all exchangers who have token exchanges will support one another for the overall development of cryptocurrency.
but there are some exchangers who are too selfish and don't want their exchanger tokens to be listed on other exchangers for various reasons.
I am interested in your words, maybe you can find out a few reasons? Please let me know  Wink
 For op, Promotion is only needed for new exchanges in my opinion, and they must often hold events to attract investors and traders. Because, building a strong community is not easy, it takes a long time and has quite high trust.

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November 06, 2019, 01:37:49 PM
 #91

The only use cases that you can get from exchanges coins and tokens if forcing those who want to list of the exchange to hold some quantity of the exchange token or IEO listing too which makes bnb token very useful today,its a nice trick but not all exchanges tokens and coins are good

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November 06, 2019, 01:45:47 PM
 #92

I have hope that all exchangers who have token exchanges will support one another for the overall development of cryptocurrency.
but there are some exchangers who are too selfish and don't want their exchanger tokens to be listed on other exchangers for various reasons.

It is called "Marketing Strategy" without it, their business would close sooner than they are not expecting. It is necessary for an exchange to have its own triumph card to compete with other exchanges, with that, they could assure that their business is in good terms. You will also notice that they are competing in terms of prices of tokens listed in their sites.

Traders will trade their coins on the other tokens which have the higher price and they will go to the other exchange which have the lower price to buy again, buy low and sell high.

 
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November 06, 2019, 01:57:29 PM
 #93

Exchange tokens are my best, as a native token, team will definitely be careful with it as it's what makes them the person they are, if there tokens keeps dumping it will definit bring the exchange lower than expected and if the Exchange token keeps increasing and growing it will earn more publicity and growth which would increase more trades they expected. So exchange tokens are more risk free than other coins.

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November 06, 2019, 02:05:16 PM
 #94

exchange token are created with various use cases. generally is use for reduce transaction fee in trade, withdraw, listing fee. but its not enough. without trader and not made attract the community, this exchange token just become worthless token. Sometimes exchange token is created only benefit for the exchange itself and is not suitable for us as investment.

 
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November 06, 2019, 04:38:27 PM
 #95


The coin created by exchange is basically to strengthen the exchange itself, we can see like the binance that released the BNB coin and usually the exchange token will provide some benefits for its users such as getting discounts and commissions in trading on the exchange.
Such as BNB which requires developers who want to make IEO required to make payments using the BNB, so that the binance will not only get income from just a trade commission, but also the capitalization of the BNB which will be even greater and of course this will provide great benefits for binance exchange.

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November 06, 2019, 04:47:28 PM
 #96

With own coin exchange market have big platform exchange coin like BNB on Binance market and KCS with kucoin exchange market, bitmax coin have listed to public and we are waiting with Bittrex exchange still not opening their own coin so far, maybe they dislike for opening their own coin afraid in not interested with investor after selling to public investment.

 
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November 06, 2019, 06:11:58 PM
 #97

With own coin exchange market have big platform exchange coin like BNB on Binance market and KCS with kucoin exchange market, bitmax coin have listed to public and we are waiting with Bittrex exchange still not opening their own coin so far, maybe they dislike for opening their own coin afraid in not interested with investor after selling to public investment.

I agree. These coins achieved a certain growth, like all tokens of top exchanges. However, what awaits us next?
As you can see now, the launchpads of the exchanges are not as active as before, the expiration rate fell on the IEO, tokens continue to fall in price along with the rest of the altcoin market.
Assume that the new cryptocurrency boom related to altcoins will not be soon, then what we will see from the exchanges. Probably only marketing moves can save the situation.

 
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November 17, 2019, 03:06:45 PM
 #98

@OP: You're right, if an exchange does the token is dying as well, though I don't know about tokens that are accepted and being traded on other exchanges; just like the Binance Coin (BNB), it's not only being traded in the Binance exchange but there are also other exchanges that allow their users to trade BNB, and other tokens are not like that, but only available on the exchange that owns and offers them.

So, I think if Binance should somehow stop functioning, their token will still be available to be used and traded by people unless other exchanges decide to deactivate their token from their platforms. You know sometimes, when a big platform like Binance is falling, others would distance themselves from it; so this can be the case for it. If others continue to trade them then they will still be available, though I can't imagine that being possible.

 
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November 17, 2019, 03:37:38 PM
 #99

I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.
If exchange has no new or others service, all token has low demand even Binance coin. Before Binance blockchain Binance coin price was down. Demand can be increase if holding rewards or profits share with token holders. Without service any coin demand will down from cryptocurrency, but not only exchange token.


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November 17, 2019, 03:52:30 PM
 #100

I have seen many exchanges have launched their own token like Binance with BNB, Idex with IDEX, Hotbit with HTB, Yobit with YO etc. where exchanges use their own tokens as another way to pay fees to support token. In addition to it, different strategies are used to create a hype like decrease in supply etc.
But if an exchange goes through a hard period of time and shuts downs then ultimately that token will come to its end because there is no community other than that exchange supporting the token simply because it has no usage outside the exchange.
According to me exchanges should promote the usage of their coins/tokens outside the exchange to build a community in support of it. If your community consists of huge individual entities who believe you then a great community can be formed. Otherwise lack of applications would lead these things to disaster.

What you should know is that, every token in this space works in accordance to the services of the platform. That is, exchanges are where trading takes place, therefore the token can be used for IEOs. Now in most exchanges like Binance, holding the BNB token you can use it for paying of trading fees; from all these, you can see that the uses of the token is for platform related services where the growth of the token is directly proportional to the health of the exchange.
So, all tokens are used in relative to what the platform offers.

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