Listing Procedure: Is It Difficult to Add a New Coin to the Exchange?
A listing on a cryptocurrency exchange is the best way to make a digital coin popular and recognizable. After a cryptocurrency begins to trade on a large platform, its liquidity increases, as a rule. Some developers are trying to add their tokens to the maximum possible number of cryptocurrency sites, while others aim only at the very top. Each of these tactics has its advantages and disadvantages, about which we will tell you in this article in detail.
What is the "listing" of a coin?Let's start from the very basics, so what is the listing? This is the process of adding a certain coin to the list of trading assets on the exchange. There is also a reverse procedure, which is called delisting, it means the removal of the coin from the list of trading assets of the site. It is carried out only when the token stops to satisfy the requirements of the exchange. The listing process takes a fair amount of time and consists of four stages:
- novelty for the industry;
- interest of the participants of the cryptocurrency community;
- news background;
- economic potential;
- a real need for a token in the project.
How to add own cryptocurrency to the exchange?The listing procedure can take place in two scenarios:
- Exchange specialists independently discover a coin that potentially has a good chance of development. Then they contact the development team with the proposal to add this project to the list of traded assets.
- The creators of the coin independently appeal to representatives of the exchange with a proposal to add their product.
- To begin with, it is necessary to carefully study the features and basic conditions of listing on the chosen site and to submit an application strictly following all the conditions of the exchange.
- Next, it is necessary to prepare a complete package of documents that will greatly simplify the process of checking the activities of a startup. It is important to understand that the more transparent the development team will behave, the more likely it is that the application will be approved.
- Then it is necessary to prepare a presentation of a product. First of all, the exchange is a commercial organization and its main goal is to make a profit. For this reason, site staff must make sure that this coin will be in demand among users in the future. If the creators of the coin can prove the profitability of their project, the probability of approval will increase many times.
- The final step on the part of the developers is the preparation of technical documentation. This is necessary so that exchange specialists can quickly check the safety and reliability of the coin. The ideal option is an open source project.