Why Does Every Exchange Need To Have Its Own Token?

[Alexander Severus]

I've only really started learning about crypto and I don't really see the point to all these million different exchange tokens.
Most of them just seem to speculative tokens with no actual function as far as I can see 
What do you think?

[bitkanu]

You must try to understand the usecase of token that owned by exchange site. The exchange site tries to give the utility usage to its users, That means if the exchange site was creating the token for their own purpose.
I do believe if you are feeling strange caused by any exchange site has released its own token, right? The token like BNB can be used for various things.

[semobo]

I've only really started learning about crypto and I don't really see the point to all these million different exchange tokens.
Most of them just seem to speculative tokens with no actual function as far as I can see 
What do you think?

If anyone can create their own tokens then why it should not be done by the exchange, And no one is forcing you to buy such coins as well. They are giving extra discounts if you hold such coins while trading which gives benefits to the trader as well as for the exchange but if you are simply holding a token then its simply stay there without much benefit from it.

[plr]

I've only really started learning about crypto and I don't really see the point to all these million different exchange tokens.
Most of them just seem to speculative tokens with no actual function as far as I can see 
What do you think?

There were a lot of ICOs that were based on exchange because of the success of Binance token, but these projects cannot duplicate the success of Binance they failed miserably in the market, there are still projects based on exchange and they used it as fee or share of the company's shares, unfortunately only Binance and Kucoin coin proved their worth in the market. many of these are weak and speculative coin it's hard to duplicate their success.

[LogitechMouse]

Different exchanges are creating their own token for specific reasons.

I don't usually research the use of the exchanges' tokens but I will just say Binance which is the most popular. Their token have many uses mainly: for staking purposes, to have a lower fees when using their exchange and most importantly to support the exchange and to have some profits too.

[TastyChillySauce00]

The exchange site was taking advantage of its platform and when they can create their own coin and why do they need to use another exchange coin? that doesn't make sense if there was an exchange site that was using the coin created by another exchange site. The token itself being used to give the discount for the fees participated in the IEO, Staking and many more.
I can't deny if exchange site is also looking for an opportunity to get capitalization.

[meldrio1]

Most of the exchanges that has own token is for discounted in trading and also for staking and I think they just want to make extra income not just only relying in trading fee and withdrawal fee to survive the exchange. I'm sure making their own tokens is profitable because the owner has a big supply and once the price gets pump then surely he will sell it at any amount he want.

[pakhitheboss]

Every exchange has its own token because they generally use it to charge transaction fees. Now the value of any exchange token depends a lot on the volume and business generated on that exchange. For example BNB currently the USD value of it is above $40 because the higher use of it on Binance exchange. I do not think an exchange token will not have an actual use case untill that exchange is new and does not have any volumes.

[James1970]

Because its easy way for them to earn even more money. And traders like them because its a way to save on fees

[aryana42]

I've only really started learning about crypto and I don't really see the point to all these million different exchange tokens.
Most of them just seem to speculative tokens with no actual function as far as I can see 
What do you think?

Not all of them are, because exchanges are popular or well-known, of course the tokens will also have value and be useful for traders there, even though each exchange and token compete with each other to be the best among millions of tokens.

[TastyChillySauce00]

Because its easy way for them to earn even more money. And traders like them because its a way to save on fees

That's also become the best way for the exchange site to give the reward for its community too.
The exchange sites were giving so many abilities to its token. The users are also getting more advantages by holding the tokens that are issued by the exchange site.
It's not only the exchange site care about the money but the exchange site is also care with the community that supports the team to develop a proper platform.

[torrantz]

It's just business decision whether it has actual function or not it really depends on their business model, BNB gives privilege of discount in fee but other exchange token might not offer such thing like at all.
But I think the only obvious reason is because it could give them additional profit out of nowhere and brand awareness. Also it could be a platform for IEO aswell for many cases. There's nothing complicated behind it.

[Jating]

Mostly though, exchanges issue their own token for traders. Meaning that you can take advantage for example, BNB for trading fee in their platform plus other incentives like staking or even rebate.

So it's a win win situation for us traders and the platform itself. It's just a matter on how we are going to take advantage of the self issued token by many top exchanges out there.

[FairUser]

Exchanges will give many reasons to use their own coins, for the purpose of reducing fees, ensuring safety, .... And the coin exchange trend is still very hot, almost all exchanges translate using own coin. Typically, the success of BNB, OKex, Houbi, these are the exchanges that have their own coins operating strongly and bring great profits to those who have bought it.

[1l1l11ll1l]

Exchanges will give many reasons to use their own coins, for the purpose of reducing fees, ensuring safety, .... And the coin exchange trend is still very hot, almost all exchanges translate using own coin. Typically, the success of BNB, OKex, Houbi, these are the exchanges that have their own coins operating strongly and bring great profits to those who have bought it.

Yes, they can grow their economy with their tokens. I think it is quite necessary, because it is included in the features of an exchange. with native tokens from the exchange, they can also provide some benefits that can be obtained such as reduced fees and others, that is part of the economy that is run. when the economy works, the ecosystem will grow and the business will grow faster

[SaShiRaJaVu]

I've only really started learning about crypto and I don't really see the point to all these million different exchange tokens.
Most of them just seem to speculative tokens with no actual function as far as I can see 

It is magical to create money out of thin air  . Most of the exchanges have their own coins and they claim that holding them will help in reducing the trading fees and those are created just to manipulate the market and create more profit and nothing else, look at BNB, they gave out a lot of coins and now every month they will be burning the coins and during that time the price rallies. 

[Teraboy]

The token will become the best thing that can be used by the exchange site to give the discount or something else for its users.
The token can also be used as various things. The users are also getting a lot of usefulness from the token that issued by exchange site. They can participate in the various event that created by the exchange site.

[trauchot]

Various cryptocurrency exchanges create their own cryptocurrencies for various purposes, for example, most cryptocurrency exchanges do this in order to earn money on this, other cryptocurrency exchanges do this so that with the help of their tokens people could participate in IEOs that are held on these exchanges or, for example, with the help of exchange tokens, you will dont need to pay various commissions or these commissions will  be much cheaper if you have exchange tokens on the exchange on which you trade and this is only a small list of the possibilities of exchange tokens, so in general the advantages of many exchange tokens are very huge.

[criket]

actually, not all have. but most exchanges make their own tokens or coins to make trading ties. such as interesting events for traders or investments to continue to grow and not go out of the market. keep their community to be more precise. especially with their own tokens or coins, there will be less capital issued compared to using tokens or coins from other platforms. especially when considering the benefits that can be obtained, surely all exchanges think about it.

[FanEagle]

I've only really started learning about crypto and I don't really see the point to all these million different exchange tokens.
Most of them just seem to speculative tokens with no actual function as far as I can see 
What do you think?

Honestly it is a way to fund more money, they just get money from it and why wouldn't they want more money? I do think that BNB is great and that is the reason they created it, they used it to fund themselves on early days and they sold bunch of it and created binance with that money, so it was needed and I get that, however afterwards they got super rich and burned so many bnb and used bnb and its chain to help so many, they even gave out funds to other projects as well.

So, I think there is a good way and there is a bad way of doing this, and if you are doing it in the bad way that means you are useless and just doing it so that you could make a profit, if you are doing it the good way you are just collecting funds to make better stuff for everyone and you should do it. That shows in the rankings of the created coins as well too.