Why are exchanges still listing shitcoins?

[tbterryboy]

Because they are getting their listing fee so they aren't interested in researching about the project.

Exactly as many of the ICOs also target such exchanges because no matter what your coin is about, if you can pay their fees they will list you. I remember a few exchanges listed Flux coin which actually was a total flop and investors lost their money I believe.

That's why there is a huge gap between reputed exchanges and new/regular exchanges as the reputed ones would never take money and list just any coin.

But that said sometimes these small exchanges do help because a new exchange cannot get listed on Binance directly and need some hike from small exchanges first.

[AicecreaME]

Because they are getting their listing fee so they aren't interested in researching about the project

It's not that they are not interested, it is because it is not their job to research backgrounds of the coins they list in their platform, as long as that coin has its own price, and of course as long as they pay the right amount of money to be listed in a certain exchange, shitcoin will continue to exist, and even if it just shitcoins, other people are still relying on its small price and use that in their everyday living, we don't have to be bitter that much towards shitcoins.

I'm not promoting shitcoins but money is still money, what is just annoying about them is we spend a lot of time on their bounty hoping to get a decent amount of profits in their tokens but got disappointed at the end.

[Mahanton]

Because they are getting their listing fee so they aren't interested in researching about the project

It's not that they are not interested, it is because it is not their job to research backgrounds of the coins they list in their platform, as long as that coin has its own price, and of course as long as they pay the right amount of money to be listed in a certain exchange, shitcoin will continue to exist, and even if it just shitcoins, other people are still relying on its small price and use that in their everyday living, we don't have to be bitter that much towards shitcoins.

I'm not promoting shitcoins but money is still money, what is just annoying about them is we spend a lot of time on their bounty hoping to get a decent amount of profits in their tokens but got disappointed at the end.

Shitcoins can give you only 2 probabilities which is to make money or lose it all.Shitcoins would always be part of the ecosystem no matter what.
Shit exchange will really be different to those who are reputable when it comes to checking of project that they do tend to list.For ordinary ones then
they wont really matter much on searching towards its background for top ones? they will normally always have those criterias to seek on.
Exchange are businesses and its normal for them to focus on listing coins as many they can.

[ekans45]

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!

Although you had mention on the article about the way how exchanges should be like to improve security, to double down on trading features, or simplifying the on-boarding process for customers they are still business.
They created this probably to have money that is why they are accepting this kind of shitcoins. However, like what is mention multiple times it really affects their credibility. If they want to survive in the game they should atleast do their part and start filtering their exchange.

[TheGreatPython]

Because they are getting their listing fee so they aren't interested in researching about the project. Also, it may be more unknown and unreliable exchanges listing unrecognized coins and not the trusted ones. It just makes investors/traders lose their money trading a coin that won't get them any profit.

obviously it is all for money and not for the safeties of their subscriber,and this is a BS on exchanges users like  us in which we are entrusting our money in their platform without them caring for us ,this is unfair for a cryptonians.

While you are making a valid point but these small exchanges do contribute a lot in the bigger picture. Firstly I agree that 90 out of 100 coins in the exchanges are nothing but rubbish with no expected value. But those 10 good coins that these mini exchanges add actually gives them a good boost. look as an investor in ICO myself I do want that when the ICO ends my coins gets listed on exchanges and if there are no mini exchanges that step up to help such projects, if even they take money, I don't think the altcoin market would be as huge as it is now.

If you ask me, I hate times when good and trusted exchanges like yobit adds some bad coins for money, as far as small/new exchanges add some bad ones, I am fine with it.

[erikalui]

It's not that they are not interested, it is because it is not their job to research backgrounds of the coins they list in their platform, as long as that coin has its own price, and of course as long as they pay the right amount of money to be listed in a certain exchange, shitcoin will continue to exist, and even if it just shitcoins, other people are still relying on its small price and use that in their everyday living, we don't have to be bitter that much towards shitcoins.

I'm not promoting shitcoins but money is still money, what is just annoying about them is we spend a lot of time on their bounty hoping to get a decent amount of profits in their tokens but got disappointed at the end.

I sent them a mail asking them why they listed the coin without any website or team information and guess what, they did not reply. They are clearly not interested in answering such questions and won't be using this BitMart exchange ever.

[Spider A4]

Exchanges which has some good reputation not bothering about listing those fake coins, but only low valued exchanges are listing these fake coins for listing fee. Every exchange should research a lot about the coin listing and this will surely improve their standards.

Yes shit coins never listed in high quality exchange, listing fee is not a big deal here. If they research about fake coins how will get profit from random fake projects, they will never go to analyze for scam coins. Fake coins is major reasons to destroyed ico marketplace.  

Why a lot ieo failed definitely blamed for listing in those shit exchange.  

[Mumbeeptind1963]

Yes shit coins never listed in high quality exchange, listing fee is not a big deal here. If they research about fake coins how will get profit from random fake projects, they will never go to analyze for scam coins. Fake coins is major reasons to destroyed ico marketplace. 

Yes only those shit exchanges listed those shit coins as well, big and huge exchanges doesnt list any shitcoin even they are having a good potential such as binance they are strictly implementing this rule, they even sometimes doesnt charge some coin devs for listing fees if they found out that the coin will be good for a longer term in their exchange, and they can earn in that coin as well.

[coinfinger]

Now a days shitcoins are also playing important role in cryptocurrency platform. Long term shitcoins gives good revenue in this field.

I feel sarcastic reading this because if anything has actually made the altcoins market bearish its the fake coins and millions of altcoins coming up. I mean if there are limited altcoins and each with a solid idea and base then the market would be much more solid. Now a days people don't even tryst an ICO until a big team name is involved no matter how good the idea and concept is behind the coin. That is an unfortunate scenario actually because even the genuine coins are getting thrashed and get no support unless they have big budget and hire a reputed consultant or team member.

If only shitcoins were not added to the exchanges so easily, the market would have been so much better.

[Slow death]

talking about this subject, a few days ago I saw something very shocking, I talk about yoda the altcoin that had airdrop recently. I saw a lot of people in the yobit chat wondering about when altcoin would be traded and what the price would be. The expectation was very high, on the day that the yoda trade was open, it didn't take many hours to have a big dump... Altcoin started with a price of 200 satoshi and in a few seconds it reached 15000 satoshi (it had a big pump ) and after a few minutes a big dump started.

I wonder to myself today:

1 - Who are the members of Yoda's team?

2 - What is Yoda for?

These are the kinds of things that make certain exchanges only worsen their low reputations

[Blackdeath]

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!

The reason why exchanges are still listing shitcoins or coins that don't have any good value is because this coins still needs to pay this exchanges for them to get enlisted, that is why even you don't want to see any shitcoins anymore they will still definitely get enlisted.

[bitbunnny]

I think that this depends from exchange to exchange and their policy and business standards. Exchanges are focused on profit so as long as they get money they will list any coin, or at least some exchanges that don't care that much about their reputation and their clients.
So, you always have the choice and you can avoid exchanges that list shitcoins, simple as that.

[ScamViruS]

The exchanges list shitcoin for own profit. They can do whatever they want for their profit. I have seen on many exchanges list a shitcoin that does not even know the name, after listing, the coins are constantly dumped! Don't just blame small exchanges. Top exchanges also cheat retail traders by listing many shitcoin, with huge listing fees.Therefore, when listing any new coin/shitcoins on an exchange, before make trade you must verify yourself about project and team.

[nelson4lov]

The exchanges list shitcoin for own profit. They can do whatever they want for their profit. I have seen on many exchanges list a shitcoin that does not even know the name, after listing, the coins are constantly dumped! Don't just blame small exchanges. Top exchanges also cheat retail traders by listing many shitcoin, with huge listing fees.Therefore, when listing any new coin/shitcoins on an exchange, before make trade you must verify yourself about project and team.

Seconded. The truth about the matter is that there haven't really been a solid project in recent times. Currently there is shortage of quality projects as most of them currently available are either mediocre or below par. So exchanges have no choice than to list them. It seems like the option for them to keep getting transaction fees. There is a need now for quality projects to start popping up and if that doesn't happen, Exchanges will continue with their shitcoins.  No doubt, top exchanges like Binance or Okex even list shitcoins from time to time.

[Beparanf]

The exchanges list shitcoin for own profit. They can do whatever they want for their profit. I have seen on many exchanges list a shitcoin that does not even know the name, after listing, the coins are constantly dumped! Don't just blame small exchanges. Top exchanges also cheat retail traders by listing many shitcoin, with huge listing fees.Therefore, when listing any new coin/shitcoins on an exchange, before make trade you must verify yourself about project and team.

These is for their own purpose. Some exchanges still aim to be active and might think that those exchanges can give them atleast a chance. But at these times new project is still hard to be trust especially if not listed in trusted exchange.

[Tduty]

Exchange won't stop listing shitcoin, you can't stop them to do that. Because every coin listing takes a good amount of money, so, a shitcoin also pays to the exchange for the listing. And, after a certain period when that shitcoin suffers from low volume, exchange gives an ultimatum to increase the trading volume by anyhow, when shitcoin failed there, exchange kick out that coin! So, most of the exchanges are the main greedy, well player! Many big exchanges also do these things only for money. Be aware of it, don't invest in a hollow coin for quick money.

[Baoo]

Simply, their financial income is actually based on the payments obtained from all the projects, so they can't refuse these shitty coins despite most of them are useless and unprofitable and that's why they keep listing them.
In fact, it is not  a big issue if these coins are existed in the exchanges or not,  you just need to ignore them, and never give an attention. Regrettably, some traders especially beginners are greedy, and it is too easy to control them through some fake information, predictions and stats.

[Hypnosis00]

Money talks and that is basically happening around in crypto. But have we ever think that this (shit) coins could survive even though they are already been listed in the market? It probably they'll not and there is no guaranteed assurance that investors will look into these coins. Of course, they are also looking for valuable coin/s that have a huge market volume and these (shit) coins had missed that one.

[Stedsm]

Do you see Yobit and the coins listed over there?
Almost 80% of the coins have no history and nothing relevant could be found about them, still Yobit lists them. Exchanges do that for few of the following reasons based on my understanding:

- To make themselves money no matter the type of coin, exchange is just interested in making money over the fees they will gain on both trading and withdrawal (and even during IEO if it's a lottery type distribution)

- To give you more options to lose your money on (yes, lose) because 90% of such coins fail to even carry their purchase value for a day/week and you will lose from both sides, buying it high at a loss and paying them fee, as well as selling it low while doing the same

- They also look out for influencers, some exchanges try to influence people themselves while others see if any bigger name is attached as a tag to that coin, because they know that if the coin is hyped too much, no wonder it will see an extraordinary trading volume than expected one - John McAfee is the best example here

[Reatim]

Do you see Yobit and the coins listed over there?
Almost 80% of the coins have no history and nothing relevant could be found about them, still Yobit lists them. Exchanges do that for few of the following reasons based on my understanding:

- To make themselves money no matter the type of coin, exchange is just interested in making money over the fees they will gain on both trading and withdrawal (and even during IEO if it's a lottery type distribution)

this is the main reason why i think they are still listing shitcoins because if not for money for sure there will be no claims here.

- To give you more options to lose your money on (yes, lose) because 90% of such coins fail to even carry their purchase value for a day/week and you will lose from both sides, buying it high at a loss and paying them fee, as well as selling it low while doing the same

and that is what gives more insults for investors,when an exchange help scammers to make us victims when we are trusting their exchange and also those project that scams people,really sh*t action from exchanges.

- They also look out for influencers, - John McAfee is the best example here

exactly what i was thinking also but His name attached on your post already so i only need to Quote lol.