One of the biggest accomplishments of crypto projects is to get its coin/token listed on top-class exchanges such as Binance, Coinbase, Bitfinex, and Kucoin.
Getting listed on a reputable exchange will attract millions of users and investors worldwide. These entrants will easily invest in the project through the exchange.
But getting the asset on an exchange’s marketplace takes work. Top exchanges create policies to list new coins/tokens and delist old ones that couldn’t meet up with the requirements.
Exchanges And Their Requirements To Get Listed
Setting listing criteria is becoming an industry standard for various exchanges. Top exchanges expect every crypto project to meet the requirements before getting listed.
This requirement includes a white paper outlining your project, social media presence for your project, Legal entity review, 3rd party security audit report, etc.
Exchanges set these standards to maintain their reputation, integrity, and users. Below are some exchanges and their requirements you must meet to get listed fast.
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Listing on Binance
Binance is the world’s leading exchange in terms of trading volume, liquidity, and traffic, according to the CoinMarketCap report. It targets listing high-standard coins/tokens and granting more crypto access through its exchange.
But the token must undergo a rigorous process and test before Binance lists it. Binance carefully examines each project to ensure it only offers high-quality assets on the exchange and its apps.
According to Binance CEO Changpemg Zhao, there are no complicated requirements for a project to meet. The exchange accepts coins with a proven team, a larger user base, and useful real-life products.
“We just need good coins listed on Binance,” he said
In an interview with Forbes, Binance’s CEO said they also check the number of active addresses on blockchain, social media audience, and cryptographic algorithm.
Most importantly, the number of users is the “Key Metric” the exchange always considers before listing tokens.
Here Are Some Tips From Binance CZ To Get Listed:
- Create a Binance account if you don’t have one.
- Go to Binance online listing page (Direct listing application link or Launchpad/Launchpool application). A direct listing is open for a project whose tokens are already circulating, while Launchpad is for early-stage projects.
- Fill out the required information, such as; the token’s name, symbol, contract address, max supply, and other important info, then click Next to continue.
- Pay the listing fees. The price changes depending on the kind of token and other factors.
- Immediately you’re done uploading all the information, tick the box showing and click on Next to submit your application.
Note that there’s no assurance or guarantee from Binance that your token will be listed or approved. This is due to a large number of listings and applications they process every day.
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Listing on Coinbase
Coinbase is a US-based exchange and the second-largest cryptocurrency exchange in the world.
The exchange Grouped a set of standards into five areas: technology, market supply, market demand, compliance with Coinbase guiding principles, and crypto-economics.
Coinbase designed a new listing policy to allow the exchange to list most digital assets that follow local laws massively.
Although Coinbase initially does not collect application fees, it has the right to do so to finance the costs of services provided during the assessment and listing processes.
Below are the process of getting a token listed on Coinbase:
- First evaluation: Coinbase will review the application to confirm if the project complies with its technical, security, and compliance criteria.
- Due diligence: the next stage, if you pass the first review, is to perform a thorough evaluation of the project’s technology, security, and tokenomics.
- Market demand and analysis: Coinbase examines the token’s potential market demand and its possible effects on the platform and its users.
- Negotiation: if the token passes all the processes for listing, Coinbase will negotiate a listing agreement with the project.
- Prepare for launch: By incorporating the coin into its platform, doing security checks, and notifying users of the launch, Coinbase gets ready for the launch.
Note that there is no guarantee that your token will be listed on Coinbase.
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Listing on Kraken
Kraken adopts a far more conventional strategy and only accepts listing requests via an official email address. A developer or a member of the crypto project must provide the necessary information.
There are no set standards for listing provided by the crypto exchange. But all applicants should provide deep information about their project to increase their chances of getting listed.
Send a mail to Kraken listing email listing@kraken.com. Attach all the necessary information about your projects, such as the token’s name, Technology, real-life utility, and economics.
With the high volume of daily requests, you may get a reply from Kraken after a few days. Emailing Kraken doesn’t guarantee or increase your chances of getting listed.
Listing on KuCoin
The Kucoin platform is an easy-to-use platform with strong security protocols protecting its user funds through 2-factor authentication.
The exchange enables a user to buy, sell and store their digital tokens. The platform supports over 100 different currencies and 1000 currency pairs.
Follow the steps below to list your tokens on Kucoin
- Go to the Kucoin website and fill out the listing form.
- After submission, Kucoin will notify you via email if you pass the preliminary screening.
- The process usually takes up to 4 weeks after submitting the application form.
Listing on Bitfinex
Bitfinex recently created a new token listing form to speed up the listing process with little or no risk involved.
Over 300 projects applied for listing on Kucoin last year, but many couldn’t make it due to certain criteria.
There are certain criteria you must meet before getting listed on Bitfinex.
These include security audits of the smart contract or the blockchain, the quality of the project, and the maintenance status of the source code.
Follow the steps to apply for listing
- Go to the Bitfinex website and fill out the listing form.
- After submission, you will be notified via an email from a Bitfinex representative within 2 – 4 weeks if you pass the preliminary screening.
Note that completing this form does not guarantee that the token will be considered for listing on the exchange.
Listing on Poloniex
Poloniex assesses possible listings based on several broad criteria, such as:
Community: You must have a strong and engaging community to meet the criteria of Poloniex.
Liquidity: Poloniex assesses a token’s liquidity to ensure enough trading activity to support a thriving market.
Legitimacy: Each token is subject to due diligence by Poloniex to ensure it is not connected to any fraudulent or unlawful activities.
Market demand: Poloniex assesses the market demand for a token to ensure enough interest from traders and investors.
Technology: Poloniex must always determine if a token’s technology is safe, dependable, and scalable through its assessments.
Each asset must also pass a legal review following the laws of its operating countries.
The goal of Poloniex is to ensure that the tokens featured on its platform are reliable and have the potential to add value for its customers by taking these elements into account.
The listing process here is quite straightforward. Just reach out to their listing team via listings@poloniex.com; you’ll be notified in a few days times.
For the success and reputation of the cryptocurrency, exchanges must review and evaluate every token before listing.
These exchanges check the technology behind the token, its community, liquidity, market demand, regulatory compliance, and other criteria into consideration during the listing process.
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Challenges Crypto Projects Face Before Getting Listed
The process of listing a token on a reputable crypto exchange comes with lots of challenges. Each exchange could provide its own particular set of difficulties. Fulfilling the listing standards and conventions can be difficult and time-consuming.
This section will explore five major challenges crypto projects encounter when seeking an exchange listing.
Contest for Listing Position
Thousands of crypto projects compete to get their token listed on an exchange. But the slots are limited, making it challenging for a project to be selected among many other projects contending for the same position.
Listing Fees
Listing costs might be high on top exchanges. It may be difficult for cryptocurrency projects, especially those with little funding, to pay the listing costs on some exchanges, which can cost thousands of dollars.
According to Bloomberg reports, Ripple attempted to list its cryptocurrency XRP for $1 million on Gemini. The report also claimed that, in exchange for a listing, Ripple offered to lend Coinbase $100 million worth of XRP last October.
Meeting with Listing Criteria
Top exchanges set severe listing requirements for cryptocurrencies which include factors like minimum market capitalization, trading volume, and project trustworthiness.
Meeting these requirements might be difficult, especially for upcoming or smaller projects without a strong community or track record.
The Listing Timeframe
The process of listing on the main exchanges can take a while. Projects may experience delays in the listing because of internal procedures, backlog, or other issues. This can be difficult for those that need to increase their visibility and user base.
Bottom Line
The listing processes of the top exchanges might be a difficult road for cryptocurrency startups. The due diligence process can be exhaustive; the requirements are rigorous, the competition intense, the prices high, and the timeframe unclear.
However, with proper preparation and determination, a new crypto project can overcome these challenges and get a listing slot on an exchange.
