Recently I attended a cryptobootcamp lecture in my locality. One of the speaker talked on the criteria to check when investing in a coin. One of the criteria that strikes me most is that she mentioned that the type of exchange a coin is listed should be considered. As an investor it got me thinking . Does it really count the exchange a coin is listed before investing ?
Lets analyze it.From my experience and discussion with my fellow crypto investors. The answer to the question is Yes and No.
Yes because a coin listed Burgarswap for example will not get the same visibility or recognition compared to a coin listed on popular exchange like Binance or coinbase. You know in crypto space sentiments and speculations sometimes play a critical role in promoting a coin. In fact, some traders or investors especially newbie crypto investors prefer to trade on popular exchanges such as Binance.
Some school of thoughts have it that a coin listed on popular exchange like coinbase have least chance of rugpulls or cheat.Another reason is that for a coin to be listed on popular exchanges means that there will be more trading for it.
On the other hand, the answer is No. No because when investing in a coin,the aspect of the exchange it is listed is usually the last to consider last after ticking off the other necessary criteria of a good coin such as total amount in circulation,the use cases, the investors,the integrity of the team, ability to evolve or scale and the market of the coin.
A good coin can actually start off at it initial phase on a minor exchange before before getting listed on a major exchanges. A coin with the above criteria have high probability of being listed on a major exchange. Some times, when you check the white paper of these coins you will see that some of them have the time line when they will get listed on major exchanges.
Conclusion, the exchange of a coin should be considered after the necessary criteria of a prospective coin as mentioned above is ticked off. But inasmuch as a coin has prospect the ability of the founders of the coin to list it on a major exchanges will have either a positive or negative effect on the long run.