Cryptocurrency exchanges are sitting in the “pound seats” so to say as they are now charging huge listing fees to ICO’s.
According to a report by Bitcoin.com and Autonomous, to list an ICO on well-known cryptocurrency exchanges can cost anywhere between $1 – $3 million. With these astronomical listing fees, ICO’s could be over funding their projects just to cover these costs.
Interestingly to note, the fee on the Nasdaq Capital Market for a listing of up to 15 million shares costs $55,000, substantially lower than the charges touted by some cryptocurrency exchanges.
Business Insider recently reported on the cost to list ICO’s and that there is a total imbalance of power. Michael Jackson from Mangrove Partners stated “The exchanges are where the liquidity is — it’s where the money is — so that’s where the power is just at the moment”.
The majority of trading of cryptocurrency takes place over centralised exchanges such as Binance, Bitfinex, Okex, Coinbase, and Upbit however, there are also larger trades done peer to peer or using the services of an OTC trading desk. Binance wants both centralised and decentralised exchanges.
Decentralised exchanges such as the Waves Platform, Tidex, CryptoBridge and Bisq are gaining in popularity – important benefits of decentralised exchanges is the fact that there is no single point of failure, no cryptocurrency is held centrally and the account holder controls their private keys.
In a recent announcement, Embedded Downloads the developers of the Embedded Vault announced that they are building a new “Embedded Exchange” that will be integrated into the Embedded Vault which turns any computer into a secure hardware device. Also announced is the integration of ERC-20 Tokens and ICO’s – an “All in One” solution for ICO’s as they will immediately get a wallet as well as a listing on the Embedded Exchange.
Related article – How to find the best Bitcoin Trading Platform or Exchange
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