At first there was Bitcoin, and in those simpler days, everyone wants a piece of it this, and everyone was in the business to offer it. Then came the Ethereum, as a rival, traded ummed and ahhed if it was a legitimate enough to work with.
Ethereum earned his stripes and is easy to find, trade and buy / sell, but not on all trades. But what about other altcoins? How does Litecoin, Dash, Ripple, and even Dogecoin, PutinCoin and other such ridiculous pieces get to a public exchange?
Werner van Rooyen, Luno international exchange, explains to Cointelegraph what to do to add another piece The complexity of adding a currency
Just recently, Luno added Ethereum to his stable and for Van Rooyen, he explains that the decoding process depends on the resources he takes
"We must look at the four different resources that a new currency will drain when we decide to add another, "says Van Rooyen to Cointelegraph. "There are technical resources, add the new currency in the back end (and make sure everything is done right), including sending / receiving portfolios, integrating it into an exchange, and so on. , is essential and must be done properly. "
" We also consider operational resources, secure client funds by shifting most of them between an active portfolio in Direct and an off-line cold storage environment Community resources Educate customers on the case of actual use and why the motto matters and be able to help customers with their queries. resources, how to adapt a growing amount of currency randomly into an application that has been designed to be elegant and easy to use. "
Of course, these are the considerations that exchanges must consider on their own, but there are also external factors to consider when it comes to looking at a specific room.
"We also think that if you add a digital currency and you do not have reasonably high transaction volumes – you will lose your time since customers will not be able to buy or to effectively sell a reasonable amount of digital currency. "
Bitcoin Cash vs. Bitcoin Gold
More challenges faced by exchanges recently have been the plethora of forks and proposed pitchforks. and Bitcoin Gold have recently emerged, and there was controversy over the support of the former before and by its launch.
Meanwhile, Bitcoin Gold has been called more than one dropping that from a hard fork, and therefore has been less concern or demand for it.These feelings are echoed by Van Rooyen who states that the inclusion of Bitcoin Cash was motivated by the demand, while the lor Bitcoin exclusion Gold on Luno has other factors.
Bitcoin Gold was – and still is – infested with mismanagement, security issues and code that is not available for public audit, "said Van Rooyen. Most people start their digital currency with Bitcoin, but those of our customers who already have Bitcoin ask us for some time to add it, so the addition of Ethereum and Bitcoin Cash was motivated by the demand of our existing customers. "
A Bloated Market
The number of CIOs that pop up, all claiming to be the next biggest and best Bitcoin is staggering, and they all try to run into the same race.This race is saturated and many stumble on the way, but others do all they can to stay standing
Of course, getting to an exchange is the # 39, step up for a new piece, and Van Rooyen mentions that they have been approached several times by developers trying to get into the big stock market.
"We have had a lot of requests from many coin developers to add their tokens with us, some of them could have long term potential, but a lot of them would be worth it. between them seem to be downright fraudulent, we were offered a free exhibition and premedined tokens, but we refused all these requests. "