ICO teams pay for the listing from 50 thousand to 1 million dollars
Every day we see dozens of ICOs with you. Some of them are promising, others are not, and still, others are fraud. However, almost all of them are united by one thing – ICO teams pay for listing their tokens on a particular exchange from 50 thousand to 1 million dollars. This was reported by the publication Business Insider.
The amount of payment, of course, directly depends on the popularity of the platform. The larger it is, the more money developers will have to find. Participants in the crypto-currency market, interviewed by the publication, refused to disclose the names of exchanges, citing the fact that this could cause problems in further cooperation with them.
The head of Swiss Fintech claims that the success of a particular project depends on the listing on the exchanges, but at the same time, he noted that a $ 1 million fee is an exorbitant price tag for placing a token because really high-quality ICOs are already suffering huge costs in the development process.
According to statistics, last year of the 902 projects that were submitted to TokenData – 142 ended in failure, and 276 closed immediately after funding. That is, about 46% of toenails held in 2017 were not successful, despite the fact that in total they raised over $ 104 million.
As for the year 2018, the result is still very positive, because in the first two months ICO managed to collect 50% of the amount of all funds collected last year. In this case, the total amount of money received by the projects does not include investments in the pre-tensile messenger Telegram.
Business Insider decided to find out directly from representatives of exchanges how much a particular site takes for listing, and that’s what they got.
A spokesman for Kraken said that they did not disclose this information.
Coinbase, which owns the GDAX platform, said that their platforms do not support ICO tokens.
Employees Huobi said that they rely on the voices of their users, giving them the opportunity to choose which token should first appear on the exchange.
Bittrex adheres to the rule of not collecting funds for listing tokens, as written on their website.
Bitfinex and OKEx reported that they do not take payment for tokens that are on the list of trading pairs. But representatives of the latter clarified that they may require a certain project to increase the budget for promotion, thereby increasing efficiency and informativeness.
Upbit, Bithumb, Binance and HitBTC have not yet responded to the request.