I created my own crypto Aecash Token and tried to get on the exchange for six months. Is it a lot or a little? When you're under 50, that's a lot. If you are 16, then they will fly by unnoticed. Everything is relative and requires comparison. In my case, it was unimaginably long for me. So, what is the result? The result is null. Moreover, NOBODY has ever answered me for all the time I wrote in the mail and all possible social networks of crypto exchanges.
No, but wait. Once, one of the exchanges told me that I had not passed their screening. For those who do not know what screening is, I can clarify - I am not a friend or close relative of anyone from this exchange. There are no other criteria for screening and they are not described anywhere. This means that the criterion described above is correct. And another result that I achieved, was the Binance Twitter account and the Binance support blocked me.
Not my best achievement, but it shows the desperation of the situation. So, this was a prelude to explaining to our readers why I decided to launch my crypto project without listing on the exchange. There is an opinion that the best decisions are always based on personal experience. That's why I told you the backstory. Although no, I spoke to a member of the Binance Institutional Department one more time! But I will not take your time, you can read about all my misadventures on the
TG channel, if anyone is interested.
So, let's get back to the main topic of the article. How to launch your crypto project without placing it on a crypto exchange? Indeed, without placement on the exchange, no one will know about it, and no one will be able to buy your token or coin, which means that you will not receive funding and your project will remain a pipe dream. Well, let's solve each of the tasks described above in turn.
Point one. Nobody can buy your token or coin. Not true! After you have created your token, for example, using the constructor, this is done in a couple of minutes, you can add your token to the MetaMask wallet. How to add a custom token to the wallet is well described on the
official website of MetaMask, I will not repeat what they have and so beautifully stated. So, you have a token or coin and you want to offer it to your first buyers. And you think that this requires a centralized exchange. This is the error of our perception and now I will try to correct this psychological error. So, let's revisit the facts. Do you have any projects? There is a crypto coin or token you have already created. And you have added it to your MetaMask wallet. All right? Then why can't you offer it to your customers?
So, we move on to the next point. To fulfill the method, I am describing of launching a project without listing on the crypto exchange, it is necessary to fulfill several conditions.
Condition one. You must describe your project in detail, as we did on the
Pterygota Shop website. Describe why you need what you create, who are your customers, and how many potential buyers your project has. The one who will buy your token or coin is essentially your investor and he must understand what he is investing his own money in.
Condition two. Technically, selling your token or coin will be very easy. You offer the buyer to buy your cryptocurrency by paying for it with fiat money or some other cryptocurrency. I, in the process of unsuccessful attempts to get at least some kind of answer and find contact with crypto exchanges, encountered crypto fraud in its various manifestations, so I will tell you so that you understand the difference between a real project and a fake one (more about scammers in
our Telegram channel). So, it would seem that everything is simple and your buyer can pay you with crypto or fiat money, but here a new obstacle arises. Confidence. There is no trust between you yet. What solution did we find to destroy this wall of distrust and prove the prospects of your project and that you are not a scammer?
To break down the wall of distrust, we registered an American company, Inc. All the power of the world's first economy is built on trust in the mechanisms of company ownership, and no matter how controversial the reviews about this country are, fraud in this jurisdiction is not welcome and can be punished with the same power. So, the second. We have registered a corporate account on the Coinbase crypto exchange. Perhaps not everyone reading this article has encountered the registration of a business account, so I will tell you, that although each of you can check this information, it is available to everyone. When opening a business account, you must provide all documents for the company and documents confirming the identity of their owners. Therefore, any person who pays you can say that he pays not just for some programmer whom he found on a social network, but he pays for a company that is also verified by crypto exchange employees when opening an account. And as we described with you above, the project should also, of course, be described in detail. We move on.
So we have convinced your buyer of the reliability of the company that offers to sell the token or coin. He can safely buy your token. How to do it? By opening a business account on the exchange (we chose Coinbase, but you can use another exchange, such as Binance), you create a merchant account. In it, you can create a checkout, that is, place your coin or token for sale. Of course, if you are starting a new project, then we recommend putting it up for sale at a price less than what you calculate will be its cost after entering the public exchanges. In this case, your buyers become interested in buying your cryptocurrency. The more confident you are in yourself and your project, the more difference you can offer, limiting your offer to just enough to get your project going.
Well, the last point regarding the technical implementation of the sale of a crypto token or coin without placing it on a centralized exchange. You need to make a deal. Your buyer pays you the desired number of tokens or coins, and you send him the crypto he paid for to his MetaMask wallet. The buyer adds a custom token to his wallet (how to do this is described at the beginning of the article) and the transaction is completed! Of course, a particularly timid buyer may doubt your reputation despite the project you describe in detail and a registered business account. Of course, you are a start-up startup, not Amazon or Google, and doubts are certainly fair, but still, you are not selling something to a client, but allowing him to make a profit, so there is always a risk, but you tried to do everything in your power.
Moreover, most of the projects that appear on crypto exchanges are completely fake and do not promise any profit at all to their owners, or even more so to investors. The author of these lines tried to
comment on such projects and get some answers from the project owners. But no one answered even once, which once again confirmed the origin of these projects. Therefore, the offer of own tokens or coins described above is no worse, and in many respects even better than projects placed on crypto exchanges. Indeed, in this case, when transferring your crypto to the client, the minimum commission is paid. While on exchanges, this transaction can cost an incomprehensible amount of interest.
And everything in general, judging by the huge number of obviously not profit-oriented projects that describe frankly fantastic and impracticable conditions or some kind of mythical products that are incomprehensible to anyone, then there is reasonable doubt about the competence of exchange employees who consider and allow such projects to be listed. Therefore, the solution we proposed is more economical and more reliable than projects placed on crypto exchanges. The last item you need to decide is how much discount you give your first customers and you can start! The technical and organizational solutions described in this article are available to everyone. We have spent many months finding such a solution, and anyone who is interested in starting their crypto startup can complete all the above steps in a few days or weeks at most.
Do not give up and create, if you are confident in your project and that it is