Binance Exchange Coin Listing Requirements: Would Bitcoin Be Included if Created Today?
Bitcoin Wouldn’t Be Listed On Binance According To Its Listing Guidelines
Most of the projects currently in the market are trying to be listed in the most important exchange by trading volume because it would give them visibility and liquidity. But, at the same time, Binance has received important critics after charging expensive listing fees for new tokens. We can mention the case about Expanse, that according to its founder, Christopher Franko, Binance asked for 400 BTC to list the token.
However, Binance CEO, Changpeng Zhao, said that the exchange does not list low quality cryptocurrencies, not even if they pay 400 BTC to be featured there.
But being listed on Binance is very difficult and a task that should be taken very seriously. About this, Zhao commented:
“There is a 98% chance you won’t hear from us after you submit your application. This is the norm.”
Additionally, he explained that they allow cryptocurrencies with a strong developer team, a useful product and a large user base.
It is important to mention that Binance’s guidelines were updated on August 12, 2018 and in order to submit a token iis necessary to submit a form. The exchange explains that it is very important for the project to be listed by the CEO or founder in case the exchange has to talk with a key person.
Indeed, several virtual currencies have experienced different attacks, and smaller tokens are even more susceptible to these technical issues.
Nowadays, Bitcoin would not be able to get listed at the exchange because it does not have an active creator behind. Satoshi Nakamoto, the person behind Bitcoin, disappeared and there is no information about who he really is.
Moreover, there would be nobody to fill out the application and Binance would not have the possibility to communicate with the team of developers behind.
Due to the fact that regulations are increasing all over the world and that there are more projects in the market it is very important for new tokens to comply in every single way with Binance’s guidelines.
It is not easy to be listed in the most active virtual currency exchange, a goal that most of the projects consider a priority.