Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: WhiskeyHoney on January 28, 2020, 04:29:57 PM
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https://blog.shrimpy.io/blog/cryptocurrency-exchanges-are-still-listing-shitcoins
It sucks that even good exchanges are sometimes committing mistakes like this...
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https://blog.shrimpy.io/blog/cryptocurrency-exchanges-are-still-listing-shitcoins
It sucks that even good exchanges are sometimes committing mistakes like this...
There's nothing new about it, as usual mostly cryptocurrency exchange platforms are just after the fees, and most of them are don't care about the outcome thats why its let it be but dont take it seriously avoid investing those so called shitcoins i'm sure that you already know what shitcoins mean.
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They don't care whether it's shitcoin or not. Currently more concerned with money than others. They could have done that because they got funds from shitcoin to register on their exchange. They don't care about the price. Even the project team did not prioritize prices after their tokens were listed on the exchange.
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Maybe some of the cryptocurrency Exchanges may not really know that the project will turn out to be a shitcoins, and by the way the exchanges are at times after their listing fees because they out to make money, not to check weather their listing shitcoins or not.
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What they should do to opportunity upon them?
Grab the opportunity and take advantage with balance scaling where at the end they are the only winner. Sometimes exchanges are used to say that the project is doing great but actually they just want to get more money from supporters.
Used to fake the community from reality's down trend condition.
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It always has been and always will be, after all, there are much fewer cryptocurrency companies and now even top exchanges occasionally list a lot of trash coins on their exchanges, because the main thing is to get money for listing.
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It is common. The exchange also requires additional money from shitcoins. They don't think about the price of tokens. The most important thing for them is that they can get money from registration tokens.
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I got into a similar situation. The coin was named PRE(Premine) and traded on the stock exchange Hit BTC . Exactly a month there was a large amount of coin trading and a lot of traders made money on it and a month later it turned out that such a project does not exist and it is a fake under the original with the same name. I advise everyone to be careful when buying crypto, buy those coins that are worthy of being purchased.
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I am not sure why they are still doing it. Back in 2017-2018 when it was the bull market or the early bear market, the projects were paying tons of money to the exchanges to get listed. So that is a logical reason for the exchanges to do these meaningless listings. However right now I do not think that they can ask for tons of money, most of the projects do not have money enough to get through the development... this is why I only use bitfinex.
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Because of greed, they are listing any coins. They are not worried for their customers to be honest for as long as they are paid, they will list it. I hope exchanges will unite to tackle about that issue.
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This is inevitable dude. Those exchanges are sometime accept new project as long as they can get some fee for the listing. Its business too and we all know how business work. Even your product isn't good as long you pay their payment fee there's no problem. I think it will be long process to eradicate this kind of things since we doesn't have regulations to implement strict rules about this new projects
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They do it because the more currencies there are on the exchange, the better. They think so.
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All exchanges try to earn on the listing of new coins, sometimes it happens that a new project token does not withstand competition or is initially a scam. Unfortunately, all this is clarified only after the passage of time and some investors and traders suffer losses.
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Unlike stock market, listing a coin in cryptocurrency market is very easy, as long as you can bear the fees. Isn't that the reason why so many exchanges are being created day by day. Some top exchanges have de-list procedure after a while a coin being listed but the other majority don't. Cryptocurrency exchange filed is juicy but since the related laws are missing, well reputed companies in stock market shrink. It's even difficult these days to find a good exchange to trade altcoins, aside from the decent exchange Binance.
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Not all exchanges are like that. Big exchange certainly won't do it. Because they don't want to upset the community. Like binance, there is no shitcoin there. They have a strict selection to be listed on their exchange.
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There are too many exchangers outside and it is impossible to prevent them from listing shitcoins. Moreover, sometimes good coins can be shitcoins suddenly. This is something unavoidable, so how to prevent them? It is a bit impossible. Anyway, if you think the exchanges are not good, then you can choose the others, right?
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Yes brother sometimes good quality exchanges make a common mistake, they don't realise and analyse the project before listing. So after listing exchange reputation or demand decrease after becoming shitcoin. So before listing should be more analytical and reasearch the project and application to human beings.
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But if the Exchange wants to continue to triumph in the world of cryptocurrency, it is certain that the Exchange must make itself ready for existing regulations and be able to get rid of Shitcoin!
Shitcoin can be listed, right? Why does the Exchange still exist and operate?
Then surely the Exchange will only get distrust from its various consumers, I'm sure of that!
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No they are not commiting mistakes perhaps low-class exchanges really want to list shitcoins because they get listing fee and at the same time their volume for trading fee. Thats the main reason why shitcoins can still get listed on exchange even though they have good usecase and trusted team.
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There are thousand and one of them that are no more. many crypto projects has signed out but still yet, they are on exchanges. CHT, MFTU, and so many of them that has no value again. worst case is that most still have people funds in exchange and they don't care about it.
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Exchange who receives coins without seeing who the person who develops them. Only a few small markets do that. Binance doesn't do anything like that because it impacts their users who will buy coins that don't have volume later.
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I got into a similar situation. The coin was named PRE(Premine) and traded on the stock exchange Hit BTC . Exactly a month there was a large amount of coin trading and a lot of traders made money on it and a month later it turned out that such a project does not exist and it is a fake under the original with the same name. I advise everyone to be careful when buying crypto, buy those coins that are worthy of being purchased.
Yes, an interesting story. In fact, they traded air for a long time on the exchange. The main thing for exchanges is that there should be large trading volumes and because of this they have a good profit in the fees they receive. Therefore, shitcoins on exchanges, this is only a problem for traders. It is not even worth blaming the administration of exchanges, this is not their problem.
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As far as I know, there are many exchanges that are still listed as coins that are already dead and do not have good performance. Sometimes the exchange is not blamed but the project developer concerned is already not responsible for the future of their own projects.