Large Fees levied by ICO Listing Exchanges

Autonomous Research: Crypto trading exchanges are charging as much as ten times the amount traditional exchanges requests for safety
04 April 2018   1292

The Autonomous Research (a fintech analysis firm) reported that crypto listings suppliers set a cost of a list an ICO on a known crypto exchange anywhere between $1 – $3 million. The providers of the infrastructure have realised that there’s money can be made when it passes to creating ways to liquidity. The request and entry charge on the Nasdaq Capital Market, for a listing of up to 15 million shares costs as little as $55,000 with annual payments approximately the same amount to stay listed.

Tokens become more advantageous if buyers know they can trade them readily, meaning the success of an ICO often leads to receiving the listing on an exchange.

According to the authors` point of view, startups are overfunding their projects in order to cover these astronomical fees. That’s the reason of why some firms are gaining 10 times more in funding compared to companies that have used more traditional ways. Blockchain startups have already grown more than $3 billion in ICOs this year, in comparison  with about $270 million in venture capital rounds, lending further trust to the demands made in the report.

The exchanges executing these ICOs have gotten proceeds. In 2017, Coinbase is reported to have made a $1 billion in profits and Binance $850 million. Business advisers also take a cut, somewhere approximately 5 percent of the total sum. Nowadays, over 98% of cryptocurrency exchange trading take place on centralized exchange networks (Binance, Bitfinex, Okex and Upbit).

But there is hope. Such decentralized exchanges as Bisq suggest analogous  services that centralized exchanges offer at a share of the price, but are still in the early stages of development. So, one cannot expect the astronomical fees to disappear very soon.

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   107

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.
 

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.