How Do I Get My Cryptocurrency On An Exchange?

Creating a cryptocurrency is itself a daunting task; getting it listed on an exchange website is an even tougher nut to crack. Getting listed on an exchange requires you to put money from your pocket and dedicate a lot of time to the process. So selecting an exchange is not a decision you want to make in haste. Here are some factors that you will need to research.

Pricing

Most exchanges charge a hefty fee for listing. On some exchanges, you may even have to pay a recurring fee. Some even charge a non-refundable fee for applying. Some exchanges charge one fee for listing on all trading pairs, while some charge separately for each one, e.g., suppose the name of your cryptocurrency is X. 

The exchange may charge just one fee to get it listed across several trade pairs like X and Bitcoin, X and Litecoin, X and Ethereum and so on, or it could charge a separate fee for each of these. Some exchanges demand the full payment at once; others allow payment in installments. 

Some of them require payment in cryptocurrencies or fiat currencies only; others are more flexible. Also, if they need to adjust their technical infrastructure to accommodate your coin on their platform, you may have to pay the cost.

Jurisdiction

If the exchange is based in the same geographical area as your project, it would be easier for you to deal with changes in regulations or violations of those regulations. In some cases, the exchange is registered in one location and operates from another. You might want to dig into their details because the listing contract does not necessarily mention this piece of information.

Reputation:

From user reviews, reviews of people who got their cryptocurrencies listed and expert opinions, you can get an idea of how secure the exchange is, whether there is a history of hacking, legal battles, etc. You might want to go for exchanges that have been operating for a long time and are established in the market. 

You also need to decide whether you prefer a centralized or decentralized exchange. Centralized exchanges are controlled by a central authority, and they act as middlemen between buyers and sellers. They transfer cryptocurrency from the wallet of one user to that of another. But decentralized exchanges are not controlled by a central authority, and they allow buyers and sellers to directly connect and do the transactions. 

Delisting:

An exchange may delist your currency if it fails to meet certain conditions according to changed regulations or if the turnover of the currency stays below a certain threshold for a long time. 

They may also delist your currency if it doesn’t meet certain requirements or if there is a change in the regulatory policies of the exchange.

Best exchanges to list my cryptocurrency

While keeping in mind the factors mentioned above, you might want to take a look at some of the leading cryptocurrency exchanges on the market and choose the one that suits your project.

Coinbase

Coinbase is a very popular exchange platform that supports more than 1000 currencies. You need to fill an application form with the details of your cryptocurrency. They will compare your application against their digital asset framework, i.e., a publicly released list of criteria you need to meet to get listed. They have recently started this new system of application. As of now, they don’t take fees for applying, but they have said that they might impose a fee as the number of applications increases.

Binance

Binance offers trading in more than 150 cryptocurrencies. You have to visit their application page and fill out the application form. On Binance, you also have the option of putting your cryptocurrency to a community vote. The winner of the vote gets their currency listed.

Changelly

Changelly has been on the market for about three years. They support over 100 cryptocurrencies, have more than 2 million users. One problem with this platform is that it lists only those currencies that have already been listed on Binance, Bittrex, Poloniex or HitBTC. It is no surprise that their entry barriers are low; they rely on other renowned platforms to screen cryptocurrencies for eligibility.

Poloniex

Their digital assets framework was published in June 2018. You are required to fill their asset listing form with the basic details of your cryptocurrency. There are also other ways of getting listed, like customer voting and getting listed and performing well on Poloni Dex.

KuCoin

KuCoin is a cryptocurrency exchange based in Asia, known for its 24/7 customer service. Their website outlines the entire process of getting your coin listed. It includes submitting an application, project presentation, meeting with the CEO, signing a formal contract, testing and listing.

Mostly, cryptocurrency exchanges also require you to be a legal entity and submit a legal opinion letter in the application form. When your coin gets listed on the exchange, they send you an email with a listing contract.

How to list cryptocurrency on Coinmarketcap?

Coinmarketcap being the world’s most looked up price tracking website for cryptocurrency, it can certainly give good exposure to your cryptocurrency. You can apply for a listing by filling their online submission form. 

When you click on their submission form link, you will be required to select your request type, i.e., why you are filling the form. You will click on the first option, i.e. (New Listing) Add Crypto Asset. 

In this form, you are required to fill in details like your email address, the name of your project, launch date, description and an affirmation that you have read their terms and conditions. Their website also mentions a list of eligibility guidelines for acceptance. They don’t charge fees for listing. Projects that have met the listing criteria come under tracked listing; those that have potential but don’t meet the criteria are under the untracked listing.

To sum up, it is helpful to know your needs, resources and goals so that you can shortlist exchanges accordingly and choose the one that best suits you.