Nov 19, 2018 09:00 UTC
Nov 19, 2018 at 09:00 UTC
How to Add Your Coins on An Exchange
Recently, the Binance CEO indicated possibility of XRP becoming a base currency. In that very post, he had also attached a LinkedIn article where the detailed steps for adding a currency to the Binance exchange were written. That prompts the question, what are the basic steps to get your coin listed on an exchange? In this article, we take a quick look at how to go about it in general, keeping in mind that every exchange has a different set of rules in ascertaining which coin to add and how to authorize such additions.
Getting one’s new crypto coin launched on plenty of exchanges is an important step. It is important to note that there are different kinds of coins, including protocol coins and tokens and they all require to meet different sorts of criteria. Getting your coin listed on multiple exchanges crucial for pushing up adoption and subsequently leading to increased demands and higher prices. Even if you have managed to have your coin listed on one of the cryptocurrency exchanges, your work is far from over. It is essential to ensure widespread availability so that the cryptocurrency is in high circulation throughout the market. For this, it is best to go for a coin listing service. These services usually offer a long list of exchanges you can choose from and guide you through the process in applying for listing. The various criteria for listing in the different exchanges are also taken care of. One example of such a service is Coinist.io. Usually, they offer a large database where you can add your coins for listing purposes. Moreover, they provide guides on how to develop and design a good coin that would be appealing to exchanges. Covesting.io is another option you can check out.
Talking of criteria, they range from end of the spectrum to the other. Usually, the following are the absolutely important things to submit if you want your coin to be considered for listing:
1. Name of coin, a logo, a ticker symbol.
2. The account details of one of the developers or shareholders. The account usually needs to be a verified one on the exchange they are trying to get a listing on. Naturally, this is useful in avoiding the long and strenuous process of manual verification of whether or not the coin has been made and developed by a reliable team.
3. A detailed description of the coin is essential. All major exchanges usually want to host a coin that has an interesting project behind it. Naturally, the pitch is an important aspect of the coin. The unique specifications that are characteristic of your coin must also be sent in your listing application.
4. Usually, the source code of the coin must also be provided as a link to the crypto exchange in question to ensure everything is in order.
Besides these, supply hard caps, premine results, social media links etc must also naturally be provided.
If you are indeed getting your coin listed on one of the top cryptocurrency exchanges it is absolutely imperative to make sure your details are in order and they meet the relevant criteria.