Why are exchanges still listing shitcoins?

[crabby]

Hi Everyone!

I was recently browsing through Twitter when I saw BitMart list TSL. After digging around the internet for a while, I couldn't find anything. Not a website, github page, facebook page... nothing.

I wrote an article about this experience and I would love to hear what you think. Why do you think exchanges are still listing shitcoins? Do you think there are some advantages to having a bunch of shitcoins on an exchange?

Cryptocurrency Exchanges are Still Listing Shitcoins

I can't wait to hear your thoughts!

[rodskee]

because even shitcoins needs to pay the exchange for them to be listed so why deny the application if you will earn from their listings?
the problem is their reputation(exchanges)what would people think from them having these shitcoins,but also the main idea is those shitcoins are from shit project also that needs to have listed for their investors to think their legitimacy though the truth is they are scams.
also those shitcoins mostly listed on shit exchanges as well right?

[leowonderful]

Exchanges won't stop listing shitcoins until they stop getting money from applications or bribe money to get certain coins or tokens listed. The larger and more reputable exchanges typically have more stringent applications that makes it harder for newer coins to get listed, but most exchanges allow shitcoins to be pretty easily listed. I don't find many advantages as someone who doesn't trade those coins to have a ton of them on exchanges, but I guess it also does boost an exchange's overall trading volume by a bit.

[mk4]

All that matters is that they get paid by the project "CEOs" to list their coin/token, and that they could earn money off the trading fees of the coin/token's trading pairs. I'm pretty sure a lot of exchanges don't give a single crap if a certain project is even legitimate or not, as long as they could earn money.

[Jating]

There are a lot of mid-tier exchanges today, so for sure, most of them are listing shitcoins just for the heck of having a coin on their exchanges. But what make its a problem or an issue is that those exchanges are becoming a means for pump-and-dump groups and sadly, many newbies fall for this kind of trick.

I'm not saying that top tier exchanges are not listing shitcoins as well, well if the project has enough money to pay and get listed then why not? But majority of shitcoins are going to low-mid tier exchanges because listing is quite cheap and they can easily fake or manipulate their volumes to look like many are really investing on their projects.

[outatime1]

I think that the shitcoins pay exchanges to be listed.  If that is the case, then it is in the exchanges interest to make money by listing these coins.  I would prefer that they decide not to do this. but it's their choice.

[noorman0]

Every exchange gets the same income from trading costs and doesn't care about the difference in the price of each coin.
In addition, a coin must meet exchange criteria that tend to be different so that they can delist a coin that they think doesn't bring income or can destroy the reputation of an exchange.
Maybe below are a few examples of their basic criteria/policies.

- The project terminates the trading partner contract with the exchange.
- Has 0 bids for a long time and it is certain that the coin won't potentially have trading activity in the future.
- Has a very low trading volume so that the exchange has no eligible income.
- The project has a problem with its reputation and it is known after the coin is listed in exchange (related to accusations of scam and the like).

So, even though the project hasn't continued in development, as long as the exchanges still have income, that doesn't make them a problem.

[adroitful_one]

Go to an exchange and click the listing section. Just take a look at how much they charge for listing a coin. You telling me you wouldn't take that? Not to mention the fact that they take a little bit of the fees from each trade. You can see how lucrative this can be for them. They're just under the impression that people will do their own research on a coin and not invest in something if it isn't good and collect the extra money. I completely understand it and I have nothing against this practice. But, I don't invest in things like that anyways. It's no different than some guy selling a car that needs a new motor. Someone will probably buy it.

[Ethereums]

Sure they will take any offer there, which as income for those exchange. They not only think about profit but I think good and legit exchanges will be more selective around their listing selection. Nowadays exchanges asking high fees for listing since they want to see how much serious their partner in this business. But some exchanges giving free since they see about opportunity and community behind those coins/ tokens, but it seems only occurred when its get mass attention from crypto sphere ( as example Dogecoin ).

[btc78]

I think that the shitcoins pay exchanges to be listed.  If that is the case, then it is in the exchanges interest to make money by listing these coins.  I would prefer that they decide not to do this. but it's their choice.

there is a bad effect for those exchanges because they are being used by pump and dump teams that manipulates the shitcoins from their exchange and victimizing noobs and some newbies as well as those Greed investors.
maybe it is better if we will be having list of exchanges that support these shitcoins so people may have references on which exchange to use and buy their investments materials.

[Salauddin1994]

when listing any shitcoin on the exchanger so that it is must be bad effect every reputed exchanger are carefully manged but other than some of the exchangers allowed listed shitcoin for some money ex: $500-$1500 USD  made fake transaction and fake trade history, I thing mainly problem developer activity developer want to delist exchanger owner do not do listing coin still now so losses trader.

[sheenshane]

That's all matter about business, but first, we could not call that as a shitcoin when it will first hit into the market. Until such time the coin will be listed due to undeveloped projects and become shitcoin, and in some cases usually, exchanges have the right to delist those altcoins that almost have no value.

The high reputable exchanges usually have high standard validation of the coins before it will be listed. Just like Binance, it should gain first a massive review from its forum. According to the CZ Binance, "We don't list shitcoins" in the twitter post. Did you know that also BSV was delisting on Binance exchange? So, usually exchanges that listed shitcoins are didn't care about their reputation.

[Yatsan]

New coin's that being listed is = profit.

If the exchange is not reputable, they are going to list any coins that are going to pay their listing fee, and besides, they will have profit in exchange fees on those coins. That would be an easy profit for them.

Or they are just making their own coins and listing it in their exchange, easy profit again for them, that what yobit is doing! They are creating their own shitcoin and listing it in their exchange, and many traders are trading that considering that it would have a good price and ups and downs. It's a legitimate scamming of people lol.

[iamaruf]

majority percent of exchanger add shit coins because of money.Because they get paid for it.There are few exchanger,they add good coin.Good project/Coin doesn't pay enough money for listing or they paid low money for listing.Good coin gives priority to their development more than money.On the other hand shit coins don't have enough prove that they are legit and they pay huge money for listing.Suppose good coin maximum pay 1BTC for listing and shit coin pay 5-10BTC for listing an exchanger.In this case exchanger thinks about money and they added shitcoins.Also few shitcoins pumped for days that time they received huge money. Main reason behind listing is huge money.

[maydna]

It is because of money. When the project wants to list their token/coin at the exchange, they need to pay some fee to that exchange so they can get the market. That is why we see many projects list on the small exchanges or big exchanges, and that makes the exchanges get more profit from the listing for the new coins/tokens.

Some exchanges need to verify the coins/tokens before they can list the coins/tokens, but some of the exchanges don't need that, and we can see that many shitcoins are list on many exchanges.

[worle1bm]

It's one of the many malpractices most of the crypto exchanges are doing these days. First they list unknown coin on their platform. Then they lure users to invest in the coin by creating fake volumes and fake executed orders. Then they pump the price to create FOMO. Once enough users buy the coin, they erase most of the fake buy orders creating instant dump in the value of token. This practice is very common in tier-two exchanges that are the exchanges having market volume less than $10M.

[bassbity]

Only low exchanges still register shitcoin to their exchanges, low exchanges only prioritize money compared to its liquidity because a lot of shitcoins come in so that the price of tokens can be easily manipulated by certain projects for many who glance at it and of course this will not last long in its trade.
Shitcoin is listed on the low exchange a lot this has happened recently.

[cotton ball]

Many exchange still listing with shit coin because they got higher payment fees each shit coin listed on their market, is not free when have any coin want listed with several exchange market, why many exchange listing with many shit coin because they only think with how much profit get from shit coin.

[target]

Many exchange still listing with shit coin because they got higher payment fees each shit coin listed on their market, is not free when have any coin want listed with several exchange market, why many exchange listing with many shit coin because they only think with how much profit get from shit coin.

Its these high listing fee that exchanges can't refuse the shitcoins team for wanting their coins to be listed. I tried looking for TSL information but ithe team didn't posted an ANN thread.  Interesting because its price is worth $0.70 (0.00007885 BTC) to which today had just been pumped to 392.50%. I guess OP noticed it that made him created this thread.

[Gyfts]

I'm convinced some of the lower tier exchanges are getting paid off to list low volume worthless altcoins just to create a sense of demand. Investing in some of these altcoins with zero supporting technology is akin to torching your money on fire so the trading volumes are probably inflated with backers of the coin colluding with exchanges to prop it up. I wouldn't put it past some of the larger exchanges to pull this shit off either but I don't have any evidence for it other than skepticism I have for some PissCoin420 with a 30M marketcap.