7. A little Crypto walkaround, Hot or Not. Understand what you get into.
Before we get to Social Mining it is important to state that users’ wages, earnings, and investments need to remain liquid at all times. There is no scenario as traumatic as investing in a company that doesn’t understand how to become and stay liquid, which means consequence that users can’t liquidate. We have provided Social Mining to companies that aim at and understand real liquidity provision. Of course, you can use a DEX and fill a pool but CEX liquidity is something that will remain relevant for the considerable future. Thus here is a quick overview:
1 ) Introducing the bottomfeeders, lone washtrade exchanges like BKEX, LBank, exmarkets, bibox, indodax, etc etc. . No retail user base, no volume, no style.
2 ) Then the syndicates such as Bitcoin.com, Changelly, and HitBTC, all led by scalable solutions, slightly better but still a horrible choice as they can coordinate and ping pong fake MM accounts and give the notion of traction despite not having a real user base or much traction.
3 ) The real tier 2 exchanges:
Gate, Kucoin, OKEX, Bitmax/Ascendex
4 ) The strictly national-oriented and regulated exchanges following strict due diligence:
Korea — Bithumb, Upbit
Japan — Zaif, Bitbank
Thailand — Bitkub
India — WazirX
5 ) The Custodians
Coinbase, Bitfinex, and Gemini would be good examples. Their listing requirements are quite liberal, provided you have MM and a good audit and LO in place, if you give them custody of your raised — or user funds for a few years getting a % way below market average which is like overcharging by 5x — 10x. The biggest lenders & infrastructural players, like Bitgo, Fireblocks, Blockfi, and Celsius operate in a similar fashion. Plug in to their network in return for custody of your funds.
6 ) The Kings
Binance, then Binance, Binance, Coinbase and Kraken. Binance volume outperforms all the others combined and takes an estimated 75% market share. They also operate real-world payment processor networks and payment processor orchestrators thus providing seamless and basically limitless conversion from one to the other. At an est. 60 billion daily volume in a bull market they sit on oceans of FIAT and crypto and operate within their own ecosystem entirely.
