Cryptocurrency Exchanges Charge Startups $50,000 Upwards to List ICOs

Cryptocurrency Exchanges Charge Startups $50,000 Upwards to List ICOs13.03.2018

Participants of the cryptocurrency market told the publication “Business Insider” reporters that the crypto-exchanges charge for listing tokens on their trading floors from 50 000 to 1 000 000 dollars.

The amount depends primarily on the level of the platform. The larger - the more expensive. Sources refused to name specific exchanges, as they fear that it will harm further cooperation with them.

"Exchanges are liquid, and liquidity is money. That's why there will always be a lot of people willing to bargain on the exchanges, "says Michael Jackson, partner of the venture company Mangrove Partners.

The head of the consulting company Swiss Fintech, Oliver Bussman, partly supported Jackson in that the success of a project depends on the listing on the exchange, but admitted that the amount of $ 1 million is a very high price for listing, because high-quality ICO projects are already carrying heavy expenses.

"Anyone who decided to organize an ICO, seeks to enter the listing of exchanges, as this opens up access to liquidity. That's why the larger the stock exchange, the more effort and money will be needed for listing", Bussman said.

In 2017, out of the 902 ICO projects submitted to TokenData, 142 failed before the fundraising commenced, and 276 closed after funding was received. Thus, 46% of the ICO conducted in 2017 failed, despite the fact that in total they were able to attract more than 104 million dollars.

If we talk about 2018, for the first two months ICO has collected more than 50% of all funds raised in 2017. And this figure does not include the closed ICO messenger Telegram.

Business Insider contacted the ten largest exchanges and asked them a direct question: "How much do you charge for listing a token on your stock exchange?" A spokesman for the US stock exchange Kraken said that they "do not publish this information."

According to the representative of the press service of the Korean stock exchange Huobi, they allow customers to vote for what new coins they want to see in the listing of the stock exchange.
Coinbase, which owns the GDAX exchange, indicated that none of its platforms currently support ICO tokens.

Mandy Lau, public relations manager of the OKEx exchange, said: "OKEx does not require any fee for listing tokens. But as a rule, it requires the project to raise the budget for the promotion of its companies in order to increase effectiveness. "

The published Bittrex manual says: "Bittrex does not charge a fee for listing tokens on the exchange."
A spokesman for Bitfinex said: "We do not charge for tokens that will be on the Bitfinex exchange."
BinanceUpbitBithumb and HitBTC did not respond to the request.

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