Getting listed on a crypto exchange is essential for any cryptocurrency, including yours. Without trading, or at the very least providing liquidity to those looking to buy your token, not only will the currency become stagnant but investors and users of your technology will become restless.
The industry has changed, for the better, where huge listing fees are now being called out and the trading exchanges realise that projects are no longer swimming in free cash, as they were in late 2017. That being said, a quality exchange listing can still add 15%-20% to the value of a token once listed.
Now exchanges need trading volume to survive just as much as you need your token traded and a as a result, the extortion of 2017 has somewhat improved.
Binance will even take your investors’ hard earned money and give it to a charity of their choice, now that they’re safely the wealthiest and biggest crypto exchange on the planet…how nice of them.
So what should you do to get listed on a cryptocurrency exchange?
The crypto business model
1. Be a great business – we could also say ‘and team’, but let’s face it in reality even projects with ‘good teams’ on paper have completely flopped because a ‘career at Google and Facebook’ doesn’t make you Steve Jobs when you were an entry level programmer.
The key to getting on any exchange, over and above anything else, is by having a good business and a solid business plan. Yes business plans do exist in Crypto and no we don’t mean your ICO white paper.
1.1 Business plan – Seriously, just because you may have got lucky and raised capital via an ICO without a hint of a business plan, doesn’t mean you can progress with that investment without a proper plan.
Don’t be an ICO scam…
How will your project make money or how will the community be rewarded sufficiently to ensure your decentralised grass growing robot can continue to make the land green for the long term?
Be prepared to share a business plan as part of your application with some of the major exchanges, just in case. This is not a quick and easy process so the last thing you and your token holders need is a substantial delay before you’ve even submitted a completed application.
1.2 Legals/Accounts – Do you meet the various regulations in Crypto? Do you have the company structure right and have you formed the company in the right country? Do you have a crypto friendly bank account? Do you have a grasp on crypto tax on profits and your ICO?
These are all massively important for getting on exchanges, staying out of prison and just generally being an honest bunch of hardworking crypto nerds.
1.3 Team – Although we jest, the people involved are obviously important and honest, up to date profiles will be great supporting documentation as part of your application.
1.4 Brand – This is more than just a logo, it’s what you stand for, it’s your corporate image across communication channels and it’s essentially your shop window.
Your brand should be exceptional, as a startup business in this new world, you have to stand out from the crowd but also earn the trust of the community and those who can make or break the future of your currency.
Get professional help on your branding, even if you’ve already completed your ICO, an exchange will expect you to not only look the part but be the part as well. Speak with us at Searched about our market leading cryptocurrency branding services.
Be prepared to provide all visual assets to the cryptocurrency exchange in order to get listed in the quickest time possible.
Reach out to crypto exchanges
2. Make contact with chosen exchanges – Do some research here first, look out for exchanges that seem to be well suited to your project. Do they list your competitors or similar projects? Do they welcome recently completed ICO’s or does it look like they only announce listing more established projects?
Reaching out isn’t submitting an application, this is simply opening discussions and finding out more about their listing process. We strongly suggest working with our crypto exchange listing services to not only save time and make the process more efficient, but support your application through our authority and reduce the cost of listing fees.
Exchanges often work with partners to encourage agencies like ours and our partners to find the best projects to introduce them to. Remember, they want the best projects that can bring volume. As a result, there are discounts and benefits available when working with 3rd parties for an exchange listing.
Contact us now about Exchange listing
Should you use advisors to get listed on an exchange? Short answer is no, an advisor will simply not have the resources to get your project where it needs to be. They may provide some good advice, but the leg work of getting listed will still land with you and your team.
2.1 Don’t only talk about your project – This is a golden rule in sales, which is what you’re doing here, selling yourself, but don’t only make this about you. A top cryptocurrency exchange is looking for projects who can be successful, have the potential for high trading volumes (sold out an ICO, had 1000’s of investors, has a genuine use case, an active community) and will add value to their exchange through effective listing announcements and PR.
How popular is your cryptocurrency or ICO?
3. Have a genuine community – not only have things tightened up in the ICO community, but those working within it are learning along the way too.
It’s not difficult now for these well funded, liquid exchanges to do due diligence across social media and community channels, including assessing the engagement rate of the 50k bots in your telegram and 10k followers on twitter.
Bounty campaigns did a lot for reach and demonstrating influence during the ICO boom, but now quality is much better than quantity.
Weigh up the risk and reward before applying and if you know your community isn’t strong even if the numbers suggest otherwise, a clean up may be in order to demonstrate your commitment to adding value and growing your business, which an exchange will benefit from too.
- Is the community genuine?
- Is it engaged (do they get involved in discussions?)
- Do the numbers and engagement stack up?
- Are you as a project active, creative and engaging?
- Could things in your community be better?
- If you’re unsure on the above, work with your community team to better assess your current situation
4. Have some great PR behind you – Public relations for ICO’s and crypto businesses went through a boom in 2017 like everything else in this industry. As more projects came to market and more media platforms also started launching, suddenly news and announcements were everywhere.
By having good coverage and strong brand association within the industry media, crypto exchanges can be sure that you’re a genuine project with real reach and the respect of industry media. Prove to the exchange that you’ve secured earned media (not bought posts) and you’ll have a very real chance of getting listed.