What we do at Coinsby

What we do at Coinsby

Hello to all my readers, my name is Mihai Daniel Marius and i am the owner of Coinsby agency.

In 2014 my journey began in the world of cryptocurrency. I first discovered Bitcoin, and I was very impressed, as early as 2014 I knew crypto and blockchain would change the world.In 2014 it was the first time I decided to buy the bitcoin. In 2016 i start to mine Bitcoin and in 2017 at the beginning of the year I began to mine Ethereum. In May 2017 I invest the first time in anything other than bitcoin, I bought the Neo coin, around 10.000 Neo coins.

This is my story in general. Since 2016 I have begun to collaborate with various international projects as a consultant. After gaining enough experience, I decided it was time to open the coinsby agency.

This year almost 70% of ICO’s did not list their coins on any exchange, this situation is very serious and affects the market of crypto and investors. With the number of global cryptocurrency exchanges now in excess of 250, there ought to be more than enough platforms to support new ICO tokens. But as many of these projects are finding out, obtaining an exchange listing without paying exorbitant fees is almost impossible.

Projects that failed to hit their hard cap simply can’t afford an exchange listing, while those that did may still balk at the price. The discrepancy between what exchanges charge is huge, ranging from around $100,000 to $3 million for the largest and most liquid exchanges.

Among the many tasks that must be performed before a token can be listed is the necessary due diligence to ensure the project is not a scam. Should a token later be discovered to be one, it risks affecting the platform’s reputation, as happened when Centra was revealed to be a fraud, prompting Kucoin and Binance to hastily delist it.

Due to the time required to perform various security checks and other administrative tasks, it takes an average of 21 days for an ICO’s token to start trading, ICOrating reports. Some exchanges also insist that the token’s smart contract is audited to check for bugs, which is understandable given their prevalence and potential severity.

Even after securing an exchange listing, it is not always plain sailing for ICOs. There have been instances of exchanges delisting tokens without warning. Regulatory pressure can also take its toll: if there are rumors that a certain token risks being labeled a security, exchanges can get spooked and delist it to be safe.

For each problem an exchange listing solves, it introduces several more. Be it through choice or necessity, 70% of this year’s ICO tokens have yet to make an exchange. Most of them never will.

Coinsby provides consulting and auditing for any project that needs listing on the exchange. We provide all the support needed to help the projects be listed. At this time Coinsby has partnerships with 7 exchanges. In the next period we will expand our collaboration with several exchanges.

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