9-minute guide on choosing a crypto exchange for listing
Have you already launched your own crypto token? Or are you still looking for the most reliable exchange for a new crypto listing with a wide range of benefits and don’t want to spend money on additional listing agency services? We will help you figure out how to choose a platform to list your coin. In this extensive guide, we will shed light on what to pay attention to when choosing the best crypto platforms on the example of P2B.
What is a cryptocurrency exchange?
The crypto market is still in the developing phase. Therefore, advanced startups want to get their part of the market share as soon as possible with the biggest success guarantees.
Before starting to explain what is a crypto exchange, let’s consider what is a crypto token. Token resembles a cryptocurrency but has some differences. Comparing crypto coin vs token, we can say that they are really similar. The second ones have a wide range of additional functions, starting from making DEXs possible and ending by selling different items in video games. However, they can be tarded like other cryptocurrencies,
A CEX/ DEX is a place for purchasing and selling digital assets. They list digital assets from their crypto exchange list. If you have launched your own digital asset, the platform will provide you with listing services and add your coin to the platform list, and thus, your token crypto reaches the market. As a user, you can store allowed digital assets you’ve already purchased.
Currently, many platforms offer a wide range of digital assets, diverse security levels, and associated fees. You should choose one of them matching all your particular needs, price range, and security expectations.
Types of cryptocurrency exchanges
Before answering a question about how to choose a place to list your digital asset, let’s consider the following typology:
Brokers. Traditional securities brokers can act as intermediaries between the markets and investors who purchase and sell cryptocurrencies. Any customer can visit an online broker and buy cryptocurrencies at prices offered by a broker.
Traditional crypto exchanges. They ensure the buying and selling of cryptocurrencies based on daily market prices. They often charge fees for transactions. At some platforms, you can trade just cryptocurrencies; on others, you can trade fiat currencies for cryptocurrencies.
There are two types of exchanges, centralized and decentralized:
- CEX (Centralized cryptocurrency exchanges). A CEX is controlled by a third party while ensuring customer sign-up and trading runs smoothly. They allow linking your bank account or debit card to purchase crypto. Because of a high level of regulation, customers need to provide their personal data to sell or purchase a cryptocurrency. Due to the mediator’s services, users also pay fees. Investors can purchase and sell digital assets on many CEXs with fiat currency and other cryptocurrencies. They centralize all the crypto assets in their storage capacities.
- DEX (Decentralized Cryptocurrency Exchanges). A DEX provides services without third-party oversight and depends on peer-to-peer (P2P) trading. A DEX isn’t a mediator. Such platforms are built on the blockchain, allowing both parties to participate in P2P transactions for minimal fees. Parties stay completely anonymous and can exchange assets without the need to trust each other.
DEX and CEX comparative analysis
The difference between a CEX and DEX
So, let’s consider the main difference between a CEX and DEX briefly.
The main differences between a CEX and DEX for crypto startups are the following:
- Support and protection. One of the most popular difficulties that crypto beginners face is using smart contracts. While using DEXs, you stay without support and must solve all these problems on your own. When using DEX services, you can’t use the support of the medium. While using centralized crypto exchanges, you communicate with the exchange’s representative and are provided with support during the IEO or listing of your token.
- Risk of losing money. When offering IEO on a centralized crypto exchange to the investors, your money is stored on the crypto exchange, and you are never insured from losing your assets. While using DEXs, all are built on smart contracts. A decentralized crypto exchange doesn’t have access to your assets.
- Full-cycle support and pre-IEO campaign. One of the essential benefits of centralized exchanges is offering well-designed pre-IEO promotion campaigns, external IEO crypto community promotion, building a strong crypto community, custom Email campaigns, and arranging AMA sessions. All this ensures your token’s rising popularity and the IEO’s success.
- Security and protection from hacking attacks. DEXs provide owners of crypto startups with a high level of security due to the use of smart contracts. You don’t provide private information to third parties or bad actors, which gives additional security and protection from hackers.
- Liquidity and trading columes. While choosing a crypto exchange between a CEX and DEX, pay attention to the liquidity of the exchange and trading volumes. As usual, DEXs, on average, provide users with lower liquidity and smaller trading volumes.
How does crypto exchange work?
While choosing a platform for launching your project, you should pay attention to the services and development possibilities offered for your project. As usual, these websites have diverse operational structures. Moreover, every CEX offers its customers diverse rules, services, products, and functions.
Very often, CEXs offer the following services:
- Listing service. A listing is a process of making your digital asset available for trading. It can include the launch of ICO (Initial Coin Offering), IEO (Initial Exchange Offering), IDO (Initial Decentralized Offering), and STO (Security Token Offering). Be sure to check out our latest explanation on what the listing process is all about. If you don’t know how to buy new crypto before listing, pay attention to IEO or IDO. This is really a cool chance to buy coins before the crypto exchange listing for lower prices. If you don’t know where to find new crypto projects before listing, look for a new IEO on Coincodex.
- Market making. This service involves providing investors, traders, and market participants with virtual assets liquidity.
Essential success factors for the project
Available services can vary depending on the platform and strategy chosen for your project.
Available services can vary depending on the platform and strategy chosen for your project.
If you have decided to list your coin, pay attention to several essential points to make your coin listing a smooth experience:
- Tokens variety. The more blockchains the platform supports, the more coins are available to list here.
Source: Binance Fiat and Spot Wallet
- Security and safety. This industry has remained vulnerable to hacking and security breaches. Therefore, the higher level of security the CEX offers, the better it is for customers. Many CEXs offer two-factor authentication and reliable security measures against phishing scams, attacks, and other theft attempts. Sometimes, they offer a biometric login. In addition, some websites hold bounty programs in which hackers can spot vulnerabilities and report them for rewards. This ensures the strengthening of the security system of the CEX.
One of the most reliable ways to protect your assets from fraudsters is to choose a CEX where the KYC verification has been implemented. According to the AML policy updates, platforms need to implement KYC verification to protect customers, and their funds from financial regulators and cryptocurrency restrain and forfeiture. KYC verification is a security procedure for users to provide government-issued proof of identification before opening a new account.
- Platform rating and reputation in the crypto industry. You should research the reputation of the exchange in the community and learn its rates on reputable websites which explore the advantages and disadvantages of diverse websites carefully, including CoinMarketCap, CryptoLists.com, Cryptowisser, CoinCodex, Cryptocompare, and others.
- Purposes of your project and what audience your project is targeted on. If you want to reach a vast community, choose platforms that have become popular worldwide.
- Additional marketing or liquidity services are offered by the platform or its reliable partners. If you want your coin to be in demand on the market, then choose exchanges that will help you promote your project and enhance the liquidity of a digital asset.
Source: P2B Exchange Rating on CryptoCompare
Why choose P2B to list your coin
P2B is one of the safest crypto exchanges worldwide. According to the Сer.live rating, one of the most reliable independent rating sources, the P2B security rating is AA, with an 88.30% security score. P2B is fully certified. Among the most significant security factors, Cer.live emphasizes an approved penetration test, ongoing bug bounty, and untouchable funds principle.
Variety of supported blockchains
Pay attention to whether your coin is compatible with the blockchain offered by a CEX. The more blockchains the CEX/ DEX supports, the more variable projects can list on the CEX/ DEX.
One of the main benefits of P2B for startups who want to list their coin on the CEX is a variety of supported blockchains. Today P2B is the first in the crypto exchange ranking for the variety of available blockchains. It offers the most extensive list of networks in the international market, among which 24 of the most popular blockchains worldwide, including Ethereum, BSC, Tron, Solana, Polygon, and others. Overall, P2B has launched more than 1000 projects.
Source: Token Variety on P2B Exchange
Reputation and experience in the market
In the industry, reputation is hard to reach and easy to lose. Regarding the rating and reputation, P2B belongs to the top 40 global CEXs and is among 15% of them by growth tempo, according to CoinMarketCap.
Moreover, P2B takes top places in other ratings like Coingecko, CryptoLists.com, Cryptowisser, Coincodex, Cryptocompare, Nomics, and others. P2B has been among the most trustworthy for over 5 years, highly evaluated by experts.
You can investigate the P2B rating provided by other independent platforms in this review.
The first purpose of your project is to search for your target audience and step into the light spot with your business offer. P2B helps customers to find their target audience and promote their projects in the community. The P2B community is very active on social networks. A huge community gives customers rapid updates on your project—your coin will be in the limelight. This contributes to the involvement of new impactful investors. According to the website statistics, more than 2,5 million customers visit P2B monthly. In addition, the daily trading volume exceeds $1 billion US.
Recently, P2B and Cointelegraph have become strategic partners. Thanks to this partnership, P2B allows its customers to present their projects to the most-scale audience involving new investors and building a new solid brand trustworthy on the market.
One of the main benefits of P2B is that funds deposited by users stay untouchable. They are stored in the customers’ wallets and are not used for the needs of the exchange. According to the designed business model, P2B doesn’t access, reinvest or manipulate the users’ funds to get an additional profit. Moreover, it guarantees the availability of deposited assets for the users. Anytime customers need them, they may withdraw any sum from their wallet.
P2B provides its customers with a great opportunity to get support for their projects at the beginning of their launch, starting from the exchange crypto listing consulting and ending with crypto project marketing and promotion services. The shortest preparation time for listing on the market allows customers to start getting the investments in around three days on P2B. It is a great place for investors who are looking for the most profitable projects to invest their funds.
The main mission of P2B is accelerating and developing startups. Therefore, it interacts with a pool of reliable companies in the projects’ promotion and advanced liquidity services, including PromoJ and LiquidLines, which offer additional support for your digital asset, including marketing and liquidity services, and a business development consultancy. These services help develop your project, promote it among the target audience, build a strong community, and give it enough liquidity to make a digital asset attractive to profitable investors.
Liquidity and volume
While choosing a CEX for listing crypto, you must pay attention to platforms with high liquidity, providing a high volume of trades and resulting in the prices’ stability. High liquidity indicates a vibrant and stable market in the ecosystem where participants can trade quickly, easily, and at fair prices. As a result, the level of customers’ trust increases while involving more participants in the community.
Key points while choosing a CEX for crypto listing
While looking for the best place to list your coin, you should pay attention to the list of characteristics:
- Reputation and rates of the CEX/ DEX;
- A level of security and reliability;
- Exchange development and its prospects;
- Variety of supported blockchains;
- Untouchable funds;
- An average number of visits per month;
- Average daily volume.
- Additional services, including liquidity and marketing services;
- Low crypto exchange listing fees.
As mentioned above, P2B can boast a wide range of benefits compared to other CEXs. Among them, we can emphasize tokens’ variety, high ratings, untouchable funds principle, full-cycle support, high-level security, etc.
Thanks to all these benefits, P2B can offer its customers a fast and reliable listing of their digital assets and further projects acceleration. P2B provides high-level liquidity, effective promotion of the projects, and the involvement of new impactful investors in the community of the projects.