Considering the importance of listing for any cryptocurrency, it is crucial for cryptocurrencies to know the path for listing on a cryptocurrency exchange. This process involves the following key steps:
The first step is communication with a preferred cryptocurrency exchange about a potential for listing on the exchange. It is essential that a thorough evaluation is made on the background of the exchange and its functioning. The key parameters which are often discussed are:
- Whether the exchange operates in the countries where you want the circulation of your cryptocurrency?
- Does the exchange allow conversion from fiat currency to cryptocurrency or only between cryptocurrencies?
- Whether the exchange is centralized or decentralized?
- The listing fees charged by the exchange
- The technical details of the token and the platform
Considering the complexity of the issues to be considered in the listing process, it is highly recommended that token issuers should approach a professional who has experience in the token listing process. The professional can assist in narrowing down on potential exchanges for listing and simplify the application process for listing.
In the next step, the exchange through the professional communicates a list of documents that would be required for the listing process. Normally, the professional arranges documents such as legal memorandum on behalf of the token issuer. Empire Global has an in-house team of legal experts who have expertise in the legal evaluation of the compatibility of a Token with the existing legal framework.
The third step involves the filling up and filing of the application form along with the required documentation and fee. After the filing process is complete, the professional will generally followup on your behalf to understand the progress of the application process.
If the application is accepted, the final stage involves the technological integration of the token with the exchange and arrangement of the payment process for issuance of new tokens and any transfer of an additional fee for listing.