Facts about Bitkub exchange
Bitkub is a Thailand-based crypto exchange founded in 2018. Today, it is the biggest and the most actively growing cryptocurrency platform in the country. In 2019, Bitkub received the exchange license that allows it to officially provide its services in Thailand. The company is going to receive licenses for operating as a cryptocurrency broker and a crypto dealer, as well as a license for launching an ICO portal. Among other plans of the Bitkub team, it’s worth mentioning the release of a payment app dubbed Bitkub Super App.
The team comprises over 500 employees who are working on the development and support of the company’s products.
As of April, 2024, according to Coingecko, Bitkub offers 112 digital assets that are available in 113 trading pairs.
Listing requirements on Bitkub
Bitkub strives to offer on its platform only the most reliable crypto assets that their users can benefit from. To regulate its listing strategy, the exchange has issued its Digital Asset Framework. The main aim of this Framework is to increase the transparency of the listing process and to demonstrate how the team evaluates digital assets before accepting or rejecting their submission.
Bitkub evaluates such parameters and criteria as the project’s values, its team, the used technology, and token circulation. Project teams are also asked to provide their white papers and roadmaps for consideration. All applications with attached materials can be sent to the official Bitkub’s email address.
The project review may consists of several key points:
- Project Introduction: The token issuer should write a short summary of what the project does or fill out a form providing necessary project details and information for review by the exchange’s team.
- Token Overview: This includes chain type (BSC, ERC, TRC, etc.), blockchain explorer, smart contract address, use of token, etc.
- Token Economics and Fundraising: You will be asked to provide information about token distribution, token unlock schedule, or conducted token sales.
- Marketing Strategy and Community: To check the user engagement and quality of business partnerships, the exchange will check community hubs with their main geographies. They check the website, Twitter, and Telegram channels, including the number of followers and likes per post. Projects should also introduce strategic partnerships with expected results.
- Project Team: Introduce your team members with bio descriptions of the Founder/CEO and core members, including Linkedin profile links..
- Listing Plan: Outline your plan for listing the token. If it’s not your debut, you’ll need to provide the exchange team with information on your existing markets and trading volumes on them.
- Market Maker: You must specify a market maker who works with you and provides initial liquidity during the listing.
By addressing these points thoroughly, you increase the probability of the approval and entry into negotiations.
We help token projects get listed on Bitkub. We can introduce you to their listing team and verify the communication channels to protect you against scams. We can help you ensure liquidity for your token at the very first moment of your listing. You can specify Empirica as your market maker – that could be an extra point for you :)
Listing fee
Most exchanges do not officially disclose listing fees, which can vary widely across different spots. Sometimes, exchanges may not charge anything for listing, while other times the fees can be substantial, with no upper limit. These amounts are always under NDA, so you probably will not find any credible information on them across the websites.
We can provide you with an overview of the listing costs on various exchanges based on our experience. Schedule a free consultation. We can discuss the best listing strategy for your token. You can consider our help in the fee negotiation process.
Bitkub’s score metrics
When choosing a venue for listing, it is important to check its reputation and general rank in comparison to other exchanges. A good choice is to check how CoinGecko, CoinMarketCap, and Nomics rate the exchange.
CoinGecko uses Trust Score, a rating algorithm evaluating the legitimacy of an exchange’s trading volume. Trust Score is calculated on a range of metrics such as liquidity, scale of operations, cybersecurity score, and more. Bitkub’s Trust Score is a high 7/10.
CoinMarketCap’s Exchange Score is based on the following factors:
- Web Traffic
- Average Liquidity & Volume
- the Confidence that the volume reported by an exchange is legitimate. Weights are assigned to the above-mentioned factors and a score from 0.0 to 10.0 is given to the Spot Exchange.
Bitkub’s Exchange Score is 5.2.
Listing on Bitkub with our help
We can support you on your way to listing your token and later managing liquidity on Bitkub and other exchanges. The usual process looks like this:
- We set up a call to understand the phase of your project. The following points will be discussed:
- Are you already listed on DEXes or CEXes?
- What is the tokenomy of your project?
- Do you have a listing strategy for your token?
- We discuss the best possible liquidity strategy for your project.
- If we agree to set up a partnership, we introduce you to verified managers of one or more exchanges (listing support).
- After your project gets listed on an exchange, we help you build your markets on platforms.
Why do I need a market maker?
Managing a token startup is a real challenge. As a cryptocurrency project, you need to focus on building your products and services and leave liquidity to market makers.
A market maker will help you:
- deepen the liquidity on your token’s books and make them more stable – which helps mitigate the price fluctuations of your coin
- lower spreads between bids and asks so that the prices get fairer for investors; that reduces the cost of entering and exiting positions and encourages investors to trade your coin
In the 24/7 cryptocurrency markets, well-managed assets are supported by algorithmic market makers. They provide liquidity through their market-making services, supported by fully automated software algorithms. Empirica’s liquidity products are reputable top-notch algorithmic market making solutions.
