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.
Currently, the team comprises over 500 employees who are working on the development and support of the company’s products.
As of October 12, 2022, according to Coingecko, Bitkub offers 76 digital assets that are available in 76 trading pairs.
Listing tokens 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.
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 8.
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 4.6.
Nomics’ metric is called Impact Score – and represents an exchange’s influence on the price of assets it trades. The score is a combination of web traffic, volume, and other factors.
Bitkub’s Impact Score is 5.72.
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.
SCHEDULE AN APPOINTMENT WITH US TO DISCUSS THE LISTINGS AND BUILDING THE LIQUIDITY OF YOUR MARKETS
WHERE IS BITKUB LOCATED?
Bitkub is registered in Thailand and its main office is located in Bangkok.
WHAT IS BITKUB’S DAILY TRADING VOLUME?
At the time of writing (October 12, 2022), according to Coingecko, the 24h trading volume on Bitkub was $22,482,676.
IN WHAT COUNTRIES IS BITKUB AVAILABLE?
Bitkub is available in many countries across different regions, including Asia, Europe, North America, South America, and Africa.
WHAT IS A CENTRALIZED EXCHANGE (CEX)?
It is a digital asset marketplace using a similar business model to traditional asset platforms like stock exchanges.
Centralized crypto venues typically keep limit order books, which are lists of open buy and sell orders, consisting of volumes and prices. They match up buyers and sellers and announce current market prices based on the last price an asset sells for.
WHAT IS AN IEO PLATFORM?
An Initial Exchange Offering, commonly referred to as an IEO, is a fundraising event that is operated & managed by a centralized exchange.
WHAT IS TOKEN LIQUIDITY?
This term refers to the ease with which tokens can be swapped for other assets (other crypto assets or government-issued fiat currencies).
WHO ARE MARKET MAKERS?
A market maker is a company or individual that regularly buys and sells financial assets at a publicly quoted price to provide liquidity to the financial or digital asset markets. Their role is to satisfy market demand. Market making is also used as a profit generation trading strategy by hedge funds.
WHAT ARE THE BEST EXCHANGES TO BE LISTED ON?
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Successful token listing during bear market
Listing is more than just negotiating fees with an exchange and successful listings require active involvement of a market maker. We know how to go through this process smoothly. Today’s listing requires a comprehensive approach, and our services include extensive support in this area.
We are partnering with a web3 gaming startup that introduced a product with solid fundamentals and a clear use case. We supported token debuts on chosen centralized exchanges by providing initial deep liquidity for substantial trades from the first seconds it went public. Our role was to support token debut on three centralized exchanges as the only market maker responsible for listings.
The price increased up to 250% within the first week after listing, and remains stable after the first month. Since the listing, volumes have begun to rise significantly, reflecting a healthy market and good trading conditions (see the Price and Volume chart).