Vite Insights #4: What Types of Coins are ViteX’s Gateways Looking For

Our gateways constantly receive recommendations of prospective coins from our community. We hope this article will shed some light on the types of coins these gateways find interesting.

TL;DR: The best coins for the gateways tend to meet four criteria: no presence on major exchanges, loyal community, active github, and the “it” factor.

Lack of Presence on Major Exchanges

This one should be quite obvious. If a coin is already on Binance or Coinbase, it is generally difficult to attract liquidity away from these major platforms.

But these exchanges do not have a monopoly on the world’s worthy coins, simply because large exchanges don’t have the bandwidth to be fully aware of the vast number of quality projects out there. Indeed, some projects refuse to be listed on these major platforms for a variety of reasons (Digibyte initially declined to list on Binance, for example).

Active OTC trading is a great area to look, because this implies high interest in trading.

Loyal Community

The number of followers/subscribers in the various social channels (Telegram/Twitter/Discord) is not as important as the quality of the community. To get a sense of the true following of the project, one must look at the activity of the users (are they asking meaningful questions?), the experience level of the users (are there whales showing interest? Endorsement by legitimate industry players?), and the speed at which the community is organically growing.

If a project has a miner community, that’s a positive sign because these stakeholders have incurred considerable sunk cost and will likely continue to support the ecosystem.

Older projects also have communities. The fact that they were delisted by major platforms exposes an opportunity for smaller exchanges. For example, PASC got delisted by Poloniex, and Gridcoin got delisted by Poloniex and Bittrex.

Active Github

There should be at least some software commits in the last two months. Here, the commits must be indicative of serious, not symbolic development efforts. The more developers, the better. Developers with frequent media exposure would also be a plus. The amount of forks and stars are also indicative of developer interest in this project.

“It” Factor

Some projects have a distinctive concept or model, are well related to current trends, or have connections with well-established projects. For examples, see some recent DeFi projects.

We hope this article provides some insight into the coins ViteX gateways are particularly interested in. We look forward to your continued recommendations.

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