The native tokens of cryptocurrency exchanges may soon work as a great alternative to both virtual coins and the world reserve currencies. As one of the leading business tools, the trading platforms have a tendency of staking on their own tokens. This, in turn, will increase their benefit for the investors, especially the large organization heads. The exchanges that have the capability of offering liquidity to assets of that kind will maimize their chances of dominating the cryptocurrency service industry. This is because they give the users an opportunity to trade the crypto assets. In addition to that, they will also take part in the Initial Coin Offering and the over the counter trading.
The Reduced Fees
The functionality of the crypto exchange coin is not only limited to the peer-to-peer payments. This is unlike the main crypto coin, Bitcoin. It is a very important part of the ecosystem, which implies that it possess certain special benefits for use on the platform by the traders, who are the direct users. Based on the platform that a particular user applies, the tokens will enable them to save hugely on the fees and even receive some cashback. However, it is important to note that the offer is not applicable to leading virtual coins. On the other hand, the holders of the BNB token will get 25% discount as they pay the normal trading fees. Each trade will be charged at 0.1%. The users of the EXM native token are promised a cut on their commissions by close to 50%.
How The Tokens Help In The Society
Token is one of the leading drivers for the internal ecosystem for the exchange. In addition to that, it will also accelerates the inflow of the new investors and even boost the cash flow and other technological improvements on the platform. This, in return, will increase the liquidity of the asset. To be able to induce the growth of the user base, the exchanges will come up with referral programs that will enable the users to create their own affiliate network. They will then refer the new traders and even get rewards on all their trades.
The Copy Trading Platform
It is important to note that the target audience of the exchanges is not limited to the advanced traders. New traders who have sufficient internal coins can be able to improve their trading skills. This has been made possible by the copy trading function. It is one of the ways of investing where the leading exchange traders will offer the newbies time to copy all the trades carried out by the professional traders. There is, however, one way in which the copy trading system differs from investing using a financial consultant. It is the fact that newbies will not have to transfer their assets physically. The exchange tokens are basically created in accordance with ERC-20 standard. This is one of the most popular in the whole cryptocurrency market. For the user, this implies that they will be able to keep the tokens on different wallets that support the ERC-20.