Binance is one of the most important virtual currency exchanges all over the world and it lists a wide variety of tokens. But after receiving some criticism from developers he said that the exchange does not list ‘shitcoins.’
Binance is not an exchange for low quality tokens, explained Zhao on Twitter. In a series of tweets written on August 11, the founder of the Binance decided to answer to Expanse creator, Christopher Franko, who claimed that the exchange asked for 400 BTC for listing an altcoin.
Changpeng Zhao said that coins such as Ethereum (ETH), NEO, XRP, Monero (XMR), or Litecoin (LTC), were listed with no fee because they are quality coins. All of them have developers behind that work day after day to create good and reliable products.
“We don’t list shitcoins even if they pay 400 or 4,000 BTC,” he said.
We don't list shitcoins even if they pay 400 or 4,000 BTC. ETH/NEO/XRP/EOS/XMR/LTC/more listed with no fee. Question is not “how much does Binance charge to list?” but “is my coin good enough?” It’s not the fee, it's your project! Focus on your own project!
— CZ (not giving crypto away) (@cz_binance) August 11, 2018
Some users complained to Changpeng Zhao about this situation because Franko had uploaded a screenshot of an email showing the rates that the exchange was asking for. But binance CEO noted that the exchange ‘never’ gives out quotations through emails.
And the discussion didn’t up there,
“Project owners should be able to stop email spoofing, those who can’t should not issue a coin. The communication process/method tells a lot about a coin.”
At the moment, Binance is working in a decentralized exchange that could replace the current traditional platform. Additionally, he explained that the complaints about listing fee come from projects that were not accepted at the exchange.
“It’s not the fee, it’s the project,” he stated.