Nobitex product manager said; Nobitex policies and sensitivities in listing new coins
Nobitex product manager Mehdi Silavi explained Nobitex’s policies and multiple criteria for listing coins on this cryptocurrency exchange platform and said: “Nobitex tries to control users’ risks as much as possible.”
Silavi said in the Elcomp exhibition studio that Nobitex, as the largest cryptocurrency exchange market in Iran, has standards for listing safe coins.
Every type of investment has risks as well as returns, and the cryptocurrency market is not without risks. Some of these risks are avoidable and some are inherent.
He added:
Inherent risks come from the fact that every market has risks and we don’t have any completely risk-free market, the cryptocurrency market also has its own risks considering that it is a new market. But some risks are avoidable, for example, a coin may be a Ponzi or a scam, or simply inflated with a pump. These types of coins will lose value after a while and users will suffer.
Nobitex’s product manager continued by stating that our strategy is not to enter untested markets.
I can say that in practice we have been successful in this field as well, because you can see that professional users advise new users to buy coins that are listed on Nobitex.
Silavi stated:
In general, in the cryptocurrency space, it is a principle that everyone should research and then enter this market, but in order to control the risk of users, we emphasize on implementing standards in the list of each coin.
He explained about the selection criteria of coins and tokens to be listed in Nobitex:
One of the important criteria is that a coin has passed its emotional space and some time has passed since its launch; We check to see how much the highest price that a coin or token has had is different from its current price, if this difference is large, we do not select it.
The head of Nobitex product continued by pointing out that the criteria have different coefficients:
Another criterion is that the desired coin is listed in the world’s prestigious markets, another criterion is that there are a large number of coin holders; If the coin is in the hands of a certain person or a certain company, this makes it possible for those people to manipulate the price of the coin.
Silavi added:
In general, being decentralized is important for us. The more decentralized the coin is in terms of holders and the more it is designed on a decentralized blockchain platform, the more attractive it is to us.
He recalled:
What kind of copy market the coin has, in the sense of how many coins there are in the market and how much the price of each coin is, is also important, and the next issue is tokenism; That is, how is the economy of the coin. It means what kind of support a coin has and how it is created. A series of coins have a fixed number; That is, they are not inflationary and are anti-inflationary; But a series of coins are created and distributed easily without any plan, which causes their price to drop suddenly.
Pointing out that the strength of the coin community is another issue for choosing a coin, Nobitex’s product manager added:
Another issue is what is the use of this token in the blockchain space and what does it promise to users and is it really worth creating? A token may say it has a network that handles a large number of transactions, has a low fee, and has a low transaction registration time.
Silavi emphasized:
Some coins don’t have the latter, and the meme coin that came up recently was Pepe, which had a lot of hype. We also had many requests on social networks and on our own channels, where users asked for Pepe to be listed. Because it was memecoin and we don’t add memecoins due to the discussion of their use, we didn’t list Pepe either, which we saw was a good decision and in the last two weeks, its price has decreased by about seventy-eighty percent.
Referring to the fact that currently 81 cryptocurrencies are listed in Nobitex, which can be traded in Riyal and Tetri markets, he said:
But the plan for the last three months is that we listed two coins on average every week and this plan will continue.
Nobitex product manager also explained about the coin listing process:
The blockchain team between the coins and the networks in the global markets has the processing process to measure and check a series of criteria. Then the technical work to launch the coin begins.
Silavi added in the end:
In the future plans of Nobitex, we intend to provide another service outside of the PtoP market that we currently have for those users who need to enter the more profitable coin market. On the other hand, we also launched the possibility of pledge sale in Nobitex some time ago, so that users can enter and earn profit in the falling coin markets.