Founder and CEO of a leading cryptocurrency exchange Binance spoke about three key factors for getting new cryptocurrency on the platform.
Chanpen, Zhao said in an interview to CNBC Crypto Trader must have a new cryptocurrency, in order to be added on the cryptocurrency site number one.
To learn about the project, you need to look at the white paper, carefully read it to understand. To play with the product. To explore the community. Look at the source code on GitHub. Read related on Reddit.
So, we have a lot to consider. But mostly we orientirueshsya on three things.
Good team. Is a team with history. Team with abilities. It is difficult to say always whether the team will make the right decisions. But the team with a good history has more chances of survival.
And we are always looking for product. So, if you have just the concept is good. But I think Binance gradually ceases to list coins that have nothing but concept. We are too big. If you have a concept, first you can get on a small exchange, and we will monitor how effectively you work.
Users is the third important factor. Therefore, we actually check how many users you have. We do not have any rigid standards, for example, we do not claim that you should have 10,000 subscribers on the Telegram channel. Because if we so declare, it will open a wide field for manipulation. Therefore, we do not announce about any hard figures. But in principle, if your project is good, sooner or later, we will add your coin. And we don’t have a contact person who would be involved in the listing. People come up to me and say, “Hey, CZ, I’ll give you 20 million dollars to you sulistio my coin”. And I say that I don’t need the money.
Zhao also noted that the company is ready to list coins for free, in any case, money is not the key factor in listing.
We do not negotiate and do not ask for a specific price. The project team, when they apply, tell us how much they are willing to pay. And you can say that you do not pay us anything and we actually listini projects that we did not pay for.
You must have good product and good service. I think that our service is at a good level. Honestly, he’s not perfect and we are constantly working on improving it. But I think that we are superior to competitors. Another important thing is your behavior, as far as it is ethical.
According to Zhao, the liability of the company is one of the key success factors.
In the crypto-space is a lot of things, but if we want to be number one – we need to be honest with our users. This is our philosophy. We do everything we can to protect our users. We don’t talk about it, but it’s obvious. People – smart and understand everything. Therefore, and recommend us to others.
We very carefully use our influence, so are wary of projects that are supported. Because as soon as we announce its support all at once begin to invest in this project.