Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
For any of you guys into altoins you've probably heard of Raiblocks. Raiblocks is a very popular coin and the price over the past month has really surged from under $2 to over $30 at one point. I've had my eye on the coin for a while but never bought it because it doesn't trade on the major altcoin exchanges like Bittrex and Binance.
That said I just heard yesterday that Binance, the most popular exchange which just passed up 5 Million users is going to be adding Raiblocks. Every month they do a community coin of the month where users get to vote on which coin they would like to see added. Raiblocks won and Binance will be adding it...
Now typically when a coin hits a new exchange it sees an increase in value. The increase is typically much steeper when a coin which previously traded on smaller more obscure exchnages hits a major exchange. A good example of this would be something like Electroneum. Electroneum only trades on one exchange, a New Zealand exchange called Cryptopia. Now many people can't be bothered to go set up another exchange account or don't trust a smaller exchange so they stay away from a coin. This is part of the reason I bought Electroneum. To date it's still only on Cryptopia but I'm hoping it hits a Bittrex or a Binance.
Anyhow, I see the same scenario for Raiblocks. Another very popular coin that's trading on a good number of exchanges, but not yet a major exchange. When Raiblocks hits Binance, the most popular exchange I see it as almost guranteed to see a surge in price, even if only temporarily so for that reason I'm buying some Raiblocks.
In order to buy Raiblocks I had to use KuCoin exchange. Lately I've been hearing a lot of people raving about Kucoin. It is a halfway decent exchange and they do seem to be trustworthy, however personally I don't think it comes anywhere near Bittrex or Binance in terms of having a nice user interface, ease of use, etc. That said it's one of the few places I can buy Raiblocks and of the places I can buy Raiblocks it seemed like the best option to me so I sent an Ethereum over there and bought some.
As of right now we don't have a solid date on when Raiblocks will be added to Binance, it could be 3 days it could be 3 weeks, who knows it could be 3 months but I'm guessing within the next couple weeks we'll see it added and I want to have some before it goes live on the most popular exchange. I'm expecting minimum a 20% to 30% surge in value at which point I'll probably sell some and take some profits and let the rest ride.
If you have any interest in Raiblocks below is the Coinmarketcap page where it lists all the exchanges it trades on...
They are pay to play. Unless you win the community coin contest they do every month you're going to have to pay perhaps $250,000 in coin to get listed, depending on the exchange.
It's hard for me to want to invest in a crypto that is already valued so high, but I suppose if the tech is there it could end up going up several fold yet.
If Xtrabytes pans out it will end up pulling a Raeblocks and make me a multi-millionaire in the process. Their third testnet they just did has demostrated the network can handle thousands of transactions per second, and this is with the old code they are still using.
The new code, which they are working on yet, they plan to patent and register the company as well once they are ready. Of course these are promises.. I like to see results. Nonetheless I bought in based on their promises at .8 cents and it's trading at 55 cents right now, and could be at 5-10 dollars if their promises pan out. Xtrabytes market cap is around $250M right now.
They are pay to play. Unless you win the community coin contest they do every month you're going to have to pay perhaps $250,000 in coin to get listed, depending on the exchange.
It's hard for me to want to invest in a crypto that is already valued so high, but I suppose if the tech is there it could end up going up several fold yet.
If Xtrabytes pans out it will end up pulling a Raeblocks and make me a multi-millionaire in the process. Their third testnet they just did has demostrated the network can handle thousands of transactions per second, and this is with the old code they are still using.
The new code, which they are working on yet, they plan to patent and register the company as well once they are ready. Of course these are promises.. I like to see results. Nonetheless I bought in based on their promises at .8 cents and it's trading at 55 cents right now, and could be at 5-10 dollars if their promises pan out. Xtrabytes market cap is around $250M right now.
Thanks for explaining.
I feel the same way about things that are priced so high...especially since you aren't buying equity in these companies. They are mostly 'projects' too..not companies.
Interesting about Xtrabytes. I looked at chart. Amazing how many of these cryptos were just sitting at like 1-2 pennies for months and months...but most seem to have skyrocketed in Nov/December last year.
Just did some very brief research some people saying could be like another Ethereum...in that case of course it'll skyrocketed much much higher like you said.
They are pay to play. Unless you win the community coin contest they do every month you're going to have to pay perhaps $250,000 in coin to get listed, depending on the exchange.
It's hard for me to want to invest in a crypto that is already valued so high, but I suppose if the tech is there it could end up going up several fold yet.
If Xtrabytes pans out it will end up pulling a Raeblocks and make me a multi-millionaire in the process. Their third testnet they just did has demostrated the network can handle thousands of transactions per second, and this is with the old code they are still using.
The new code, which they are working on yet, they plan to patent and register the company as well once they are ready. Of course these are promises.. I like to see results. Nonetheless I bought in based on their promises at .8 cents and it's trading at 55 cents right now, and could be at 5-10 dollars if their promises pan out. Xtrabytes market cap is around $250M right now.
Do you have any insight into how exchanges pick up coins? I have a buddy rolling out his own ERC20 token, it's garbage don't buy it lol, but he said Bittrex will let you on for 3 Bitcoins. I guess that policy has changed and now there's more too it but at one point it was that way.
I imainge to some extent an exchange wants to have hot coins ie you can't be a legit top 5 or top 10 exchange and not have NEO or LISK or something like that so in that sense I think some coins will make it on without paying but you are right as it says right on Binance, because they won the contest they don't have to pay
It sounds like some of these exchanges are in the extortion business.
It's not extortion, it costs a lot of development time and money to add new currencies and make sure everything is secure. Look at how cautious Coinbase has been about adding new coins. Look at how much time it took them to add Bitcoin Cash. They are simply being paid for the work and development it takes.
Guess what if you own a restaurant Pepsi may pay you to put Pepsi machines instead of coke. Own a hotel Sealy may pay you to put their beds in there. It's how business runs. We do live in a pay to play world but it does cost time and money to add new coins and when an exchange looks at their priorities scaling to add new customers probably makes more sense than scaling to add new coins so new coins should pay if they want to get on
Ok thanks just learning about the exchange business and that side of things .
Learning lots of new things everyday with crypto
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
