When you describe how a coin is listed, it is best to understand what it means to list a coin. Coin listing refers to a coin or token available to be traded on the best crypto exchanges at a particular exchange rate. In general, it means this crypto coin has been approved for financial and regulatory viability and a degree of trust—the exchange. For any crypto exchange to accept a token list, it has to meet its standards and laws.
Every crypto exchange has its desired rules about them. So when we talk about the best crypto exchange platforms, these platforms are in charge of coin listing; it can either work as a centralized or decentralized exchange form.
Any cryptocurrency must be on track for the anticipated path of listing on a digital coin exchange, given the significance of getting listed. Knowing how to list your coin on an exchange can be helpful when you begin investing in the cryptocurrency market. Listing of cryptocurrencies is a crucial must-know in the crypto market.
Deep dive
Crypto exchange platforms operate as brokerage sites that offer a portal where you can create several types of cryptocurrencies to buy and sell. When a crypto exchange is said to be centralized, it means they are managed and controlled by one corporate authority or company, which facilitates its security.
A decentralized exchange platform distributes power and verification to anyone interested in controlling a network and certifying transactions. In other words, like a traditional bank that accepts Naira, Dollars, and Pounds as means of exchange; the same way a crypto exchange is a marketplace where crypto coins or tokens can be exchanged. Some of these best crypto exchanges are Binance, Coinbase Exchange, Kraken, Coinmama, OKX, Robinhood, BlockFi, Bittrex, Kucoin, Huobi, LocalBitcoins, Gate.io, MEXC, Pemex, Okcoin, Bitstamp, Bisq, FTXs, Coincheck, etc.
The time required to review some exchanges takes 2 - 3 months, especially if it's a centralized exchange. It sometimes even requires asking for a review, i.e., sending a message as a reminder. Afterward, a rejection letter can either be sent by the exchange, or there is a confirmation instead. Then, there is a need to present legal documentation for the listing to be reached.
What to consider when choosing the best crypto exchange?
Every crypto exchange platform presents itself as the best in the space. However, many of these platforms have fake trading volumes. After considering that some of these exchanges have almost no real traders and liquidity but tend to sell expensive listings by proving to have more activities which end up in a waste of money and disappointment, therefore, you need to be cautious of ratings and trade volume reports and understand the market carefully. These are some tips to consider along the way;
- The average number of visits to the exchange’s website
All platforms including the ones for the best crypto exchanges have dynamics of growth or decline in visits compared to previous months. Check out the engagements of how people have been active. The kind of reviews and comments that users have made. Pay immediate attention to the anomalies that are more likely to show that the exchange isn't as active as it should be.
- Quality and Quantity of traded coins/tokens
There are a large number of low-quality exchanges which have stated unknown and unverified coins with no liquidity, form of use, volumes, or any movements. If, by thorough research, you find that there are too many of these coins in real existence, be careful of such exchange platforms.
For every exchange platform, there is always an official chat room and verified social networks. Here, you can check on how active their community is, how the platform is being controlled, what questions they answer, and anything that is used to keep the platform sustained. Also, it is a good sign that such exchange could be divided into countries and regions through a main global chat group.
- Listing Cost
This is quite an essential factor to be considered. Each exchange requires a fee for listing. The final price depends on various factors to be stated by such an exchange. The best way is to check an exchange project and compare the listing costs to others.
- Geography of the exchange
Most exchanges clearly state their geography, indicating the regions where they can be operated. Depending on wherever you find yourself, this is usually informed and in the general company information. Such is discovered in the “About us” section on the exchange platform.
How to apply for the listing of a coin/token
There are two different ways to consider in selecting to apply for a listing. The first uses an agent, and the second is an independent method. Let's discuss both methods involved in this section;
- Independent Option
For every exchange platform, there is always an “Apply to list” button either at the beginning or end of the website, which helps to submit a listing request. Afterward, a response would be sent by such a platform. However, this does not have a specific range of time it would take. For some exchanges, it can take longer, especially for best crypto exchanges. However, there are disadvantages and advantages to opting for an independent crypto listing. The major advantage of this is that you can apply by yourself, guide the process which are and also negotiate the price. The disadvantages would mention how some of these exchange platforms could be a scam. Also, you might make a poor decision in choosing an exchange platform.
- Working with a listing agent
An agent for coin listing is a person who is familiar, has knowledge about various forms of exchanges, and has been working with them for a while. This set of people helps individuals enter negotiations with exchange and gives others guidance throughout the process. Most individuals subscribe to using an agent because it reduces the risk of running into a scam. Most of these agencies work directly with the exchange management; there are usually no forms of unscrupulous employees or scams.
- Choosing a reliable exchange
These agencies are well versed in the marketplace; they thoroughly monitor the situations of each of these exchanges. With this, the best advice is which is more suited considering the budget and requirements of the project; and which exchanges to ignore.
- Assists in the post-listing activity plan
After a coin or token is listed, it would require marketing, getting new community members to trade, stage, buy and sell this new coin. A good agency would help develop and implement a good plan to maintain a token. However, note that using an agency would require paying extra charges but in most cases, these charges pay in the long run.
Importance of coin/token listing
Let's see the reasons why people get coins listed on exchanges :
- Sale
Listing a coin or token makes crypto available for sale. People would be aware of the existence of this crypto and would have access to buying, and selling such tokens. Thereby, such a coin is given a chance to succeed.
- Growth
Listing a coin grants the opportunity to enjoy expansion in the community growth market. Getting listed on a new exchange would result in operating efficiently in its specific region or worldwide.
Conclusion
If everything goes as stated above, your coin will start trading on an exchange. Note that before selecting any exchange community, read and understand the certain requirements requested. In most cases, these requirements are paved away and might later result in disapproval of a coin or token.
Summarised in a simple passage you need to consider if the exchange is decentralized or centralized, the listing fees requested, whether such exchange operates in the regions where you want the circulation of your cryptocurrency; and lastly which are the technical details of the token, coin and the platform.
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