We regularly review customers’ comments on social media, and we see there’s still confusion about what we do and why we do it, especially when it comes to tokens. The community wants to know: why we listed one token but not another; if we’ll list a token with an upcoming ICO; why we delisted a token; and what we gain from listing tokens.
The answer to all of those questions is straightforward -- we’re simply trying to make the best choices for our customers, our platform and the industry by judging tokens solely on their merits.
We take our responsibility seriously, which is why we have lengthy and boring policies on how we determine which tokens to list and what tokens we might have to remove. But, we’ll spare you the corporate legal-ease included in the policies and share the basics with you instead.
First, we don’t charge a listing fee, and every token we consider listing on Bittrex goes through a comprehensive review to determine if it’s a good fit. We consider things such as: “Is the token’s use case innovative?” “What’s the technological experience of the token team?” and “Does it pass our compliance review?” We examine other items as well, but these are a few of the major items we consider and review.
This process helps us to weed out tokens that seem shady, have technology issues, or just aren’t good fits for other reasons. And even though we try to find the best tokens out there, we can’t predict which ones will do well. But, if the industry is managed properly, the market will ultimately make those decisions.
Now, the flip side of the coin (pun intended!) is that there are times when we need to remove a token from the platform. This can be for several reasons, but a few examples include: the blockchain or related technology doesn’t operate properly; a token is no longer supported by its development team; it violates our listing agreement; etc. When we need to make these changes, our goal is to be as transparent as possible, providing public posts and even emailing customers directly depending on the situation.
We know there will always be tokens our customers want listed that simply don’t meet our standards, but hopefully, our token processes are clearer for everyone now. If you do still have questions, consider reading our full listing and removal policies on our support site.
Finally, we want you to know that we will continue to work hard to fulfill our mission to help advance the blockchain industry by fostering innovation, incubating new and emerging technology, and driving transformative change around the world.
Note: the term "token" is meant to be used interchangeably with "coin" in this article.