Crypto exchange tokens are the must-have token for the next bull market – every social media influencer will be holding them. No? Oh well, probably for the best. The fact is that this time last year practically no one was talking about exchange coins and now they are being snapped up left, right, and center. There’s a reason for this, driven mainly by exchanges themselves branching out from merely being places to trade tokens to OTC and IEO platforms, project incubators, self-contained blockchains, and more.
To this end, we’re running through five exchange tokens worth keeping an eye on in 2019 that might just pocket you some cash during a bull market.
No. 1 – Binance Coin (BNB)
BNB is arguably the daddy of the exchange tokens, primarily because of its connection with the most popular exchange in crypto. The token greases the wheels of the entire Binance offering, which is where its potential lies. Binance is currently still largely an exchange-based business, and the BNB token offers a trading fee discount, but they have shown themselves to be trailblazers in the crypto space, leading the way with their phenomenally successful Launchpad initiative which many exchanges have since copied. When you consider that they have a decentralized exchange and their own blockchain on the horizon, plus unknown projects down the line, it’s clear that this is one utility token that is actually worthy of the name.
No 2 – KuCoin Shares (KCS)
KCS has shown itself to be a resilient coin, enjoying a 280% rise in the past month on the back of their Spotlight IEO platform. Like the BNB model, holding the KCS token will be necessary in order to take part in launches, which explains the recent rise. However, KCS tokens also have an added benefit for holders – every day Kucoin distributes 50% of their trading fees to KCS holders, known as the KuCoin Bonus. This dividend comes in the form of each coin that was traded that day, meaning that every day holder are paid small amounts of the 395 coins currently listed.
It may not sound great in a bear market, but in a bull market KCS Tokens could become very valuable, and you could have decent holdings in every single one. And then of course there’s the value of the KCS token itself, which is known to rocket in bull markets. Certainly a concept to think about should the crypto market experience a positive swing.
No. 3 – BridgeCoin (BCO)
BCO is the native token for the CryptoBridge decentralized exchange, a great exchange for low cap altcoins before they go on to bigger exchanges. BCO holders get a 50% revenue share from the exchange for holding the tokens, along with up to a 100% bonus on top depending how long they have been held for. BCO can be mined, which is a handy way of generating some extra income should you mine and stake for long periods, especially in a bull market when low cap gems are in demand.
No. 4 – BitMax (BTMX)
The BTMX token has garnered headlines in the crypto world recently, for two reasons. Firstly, it rocketed 165% in twenty-four hours before dumping right back to where it started from three days later, and secondly, the exchange behind it, BitMax, operates the same trans-fee mining that saw FCoin labelled “disgusting” for using the process, in the words of Binance CEO Changpeng Zhao, like a “disguised ICO”. Trans-fee mining essentially turns cryptocurrency trading into mining, as whenever its users pay trading fees on its platform they’re reimbursed in BTMX tokens, essentially meaning the fees, in BTC or ETH, are used to pay for the tokens as if it were an initial coin offering.
BitMax has also rolled out something called ‘reverse mining’, where traders participating in trans-fee mining will receive a 100% return on the fees they pay in the form of BTMX tokens. These next generation protocols are high risk, high reward ventures to be sure.
No. 5 – Huobi Token (HT)
Huobi is a top ten exchange that has been quietly rolling out new features, such as HB10 Index, Huobi Prime, a fiat onramp, and more during the bear market. The token itself has a number of utilities across its ecosystem and is largely based on its VIP program. There are five VIP levels, paid for via a monthly subscription of HT tokens (120-12000 per month), which entitle holders to benefits such as trading discounts, early access to asset trading, advance notification of events, IEO contributions, and more.
In a nice touch, being a HT holder can also give you voting rights on exchange decisions, such as which tokens to list. As Huobi continues to grow, this could be a coin worth considering, mainly if you have tokens you wish to trade on the exchange.
An Exchange Coin for Everyone!
We hope this guide has given you a good overview of some of the exchange coins worth looking out for in 2019, hopefully as we head towards a bull market. As we have seen, the rewards can vary hugely, meaning there should be a coin to suit everyone’s risk appetite from the five above.
