How to list your token on an exchange?
After creating your own token, you need to list it on an exchange. This will give value to the coin and allow users to trade. And higher demand logically leads to a price increase.
Author: Artem Khomenko
Date: 19 September 2022
To set a price for a coin, it must be listed on a trading platform. You can do that on a centralized or decentralized exchange. In the first case, the listing will cost more but will provide ease of trading for users. The second method is cheaper but has problems with security and mobility. We will describe each method in more detail.
Centralized exchange – is a platform for trading cryptocurrency, where transactions are processed on internal servers. That is, to buy Bitcoin, the user needs to keep the funds on the exchange. Such exchanges are Binance, KuCoin, WhiteBIT, OKX, and others. A complete list of centralized exchanges can be found on Coingecko and Coinmarketcap in the appropriate section.
It should be understood that exchanges make money on commissions. Therefore, if your coin already has large trading volumes on other platforms, the exchange may offer a free listing because it will improve its liquidity and increase its earnings.
Decentralized exchange is a platform where you can exchange tokens without providing access to your own funds. The user connects a wallet and makes an exchange of one token for another. In this case, it is necessary to hold a blockchain token to pay the network’s fee.
The main disadvantages of listing on a DEX:
A decentralized exchange is a big smart contract. If there are any errors in its code – hackers can take advantage of this, and then the funds are in danger;
There must be enough funds for a stable trading pair. You can add only $1000 to liquidity, but then the trading will be unstable, and any buy or sell will significantly affect the price;
Your token on DEX can only be found through a contract. The coin will not be in the quick exchange list on the home page. It will be impossible to find it even by its name and abbreviated ticker.