CSC — The Criteria for Exchange Listings — The Early Investors

For a while now we’ve all been reaching out to different exchanges, asking them to add CSC. But what is the actual criteria for being added?

An article on CoinTelegraph from two years ago actually looked into this, and while the article is old, it does give insight as to what some exchanges look for when deciding whether or not to add a crypto to their platform.

Binance

Using the SEC Digital Asset Risk Assessment Framework, Binance considers multiple factors such as:

• Legal Requirements (Anti-Money Laundering/Combating the Financing of Terrorism and Securities Laws)
• The core team’s strategic vision to solve some real-world problem
• The community’s ability to organize in a way that aides the project’s development
• Demands on the asset’s supply and demand
• Technological feasibility and security

“In general, we like coins with a proven team, useful product, and large user base.” — CZ

Coinbase

Coinbase groups their parameters into six focal areas:

• Conformity to the platform’s core values
• Technology
• Compliance
• Market supply
• Market demand
• Crypto-economics

Other factors include:

• “Assessment of the engineering team and their track record of setting and achieving deadlines.”
• Ensuring there is a “demonstrable record of responding to and improving the code after a disclosure of vulnerability.”
• “A robust bug bounty program or third party security audit.”

In order to keep this post somewhat short, I wont list the other exchanges as the criteria is essentially the same.

While all of the above criteria is important, the biggest factor in determining whether a coin should be added is its popularity — i.e., how big is the community behind it? This one factor determines the most important consideration exchanges consider…

How much money can be made.

Yes, I know. That puts somewhat of an ugly spin on it, but the world revolves around money.

Exchanges make money in a variety of ways, but the most prominent ways are from trading fees and transaction fees. This is why you see meme coins like DOGE which has a 24hr volume of $1.7B and SHIB which has a 24hr volume of $250M listed on many top exchanges. Do these coins have strong teams, powerful tech, or the drive to solve real world problems? Not really. But they do have a large community behind them, which translates to more users on the platform of any exchange that adds them.

Thus we find ourselves in a Catch-22. Exchanges want to see volume, but the easiest way we get volume is by getting CSC added to more exchanges.

Out of curiosity, I checked Uphold (the “white whale” of the CSC community) to see which of the 46 cryptocurrencies on their platform has the lowest trading volume. The answer?

Decred with a 24hr volume of $17M.

To put that into perspective, currently CSC has a 24hr volume of about $500,000.

So while JPThieriot and Uphold might think the CSCNation is awesome, it may just be that it’s not financially feasible for them to add us…right now.

But that will change.

The number of accounts holding CSC is constantly growing, as is the number of members in the Discord. It is being added to more people’s watchlist every day. The CasinoCoin Twitter account and the team’s personal accounts are growing in followers as people learn about the progress being made.

Now rewind to 7 months ago when the price of CSC was .00008 and everyone was calling the project “dead”. Hell, it’s only been 5 months since we migrated to the XRPL. Keep your expectations realistic and look at how far we’ve come!

As overused as the phrase has become, it still retains its relevance here.

We are early.

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The Early Investors

At some point most of us have probably looked at a chart on CoinMarketCap and thought “Wow, I wish I had known about this crypto back in 2016 when it was $x.xx price.” Even more likely, I’m willing to bet you’ve pulled out your trusty calculator and thought “If I had put $500 into this crypto back then, it’d be worth $x.xx today!”

Unfortunately — “Hindsight is not a strategy”

The true OG’s of the crypto space who were around in 2013 and prior, will likely tell you that there were never any guarantees that crypto would survive. Imagine investing hundreds or even thousands of dollars into a coin, which, for all you knew, could be declared illegal or maybe even killed by the world governments. What if my computer is destroyed? What if the exchange is hacked (Mt. Gox)? These were the legitimate fears back then.

There were 0 mentions of crypto on the news. There were no cool, safe, easy to use wallets. No list of 100+ exchanges to act as on/off ramps.

Despite all of that, the early investors who took a gamble became very wealthy.

This is where we are right now as early investors in CasinoCoin.

Eminence Ltd. has a strong team who are focused on their vision to solve a real world problem. Their targeted industry is expanding at a rapid pace and has seen year over year percentage growth in market size. The underlying tech is powerful and has already been tested, tried-and-true. We have the XUMM Wallet to protect our CSC. We are now at the point in time where cryptocurrency is constantly in the news. Governments are working on regulations. Crypto is here to stay.

So ask yourself…..what is there to worry about?

-PB