Where do crypto exchanges source their coins from?

3 answers

• Dec 19, 2021 · 3 years ago
  Crypto exchanges source their coins from various channels. They may acquire coins through partnerships with blockchain projects, direct purchases from miners or other exchanges, or even through initial coin offerings (ICOs). The sourcing process can vary depending on the exchange's business model and relationships within the industry. It's important for exchanges to ensure the coins they source are legitimate and meet the necessary security standards before offering them for trading.
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• Dec 19, 2021 · 3 years ago
  When it comes to sourcing coins, crypto exchanges have to be careful about the reputation and credibility of their sources. They often conduct due diligence to verify the authenticity and legality of the coins they acquire. This involves checking the project's whitepaper, team members, community support, and conducting audits if necessary. By ensuring the quality of the coins they source, exchanges can provide a safer trading environment for their users.
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• Dec 19, 2021 · 3 years ago
  At BYDFi, we prioritize transparency and security in sourcing our coins. We have established partnerships with reputable blockchain projects and conduct thorough evaluations before listing any new cryptocurrencies. Our team performs extensive research to ensure the coins we offer meet our strict standards. By sourcing coins from reliable and trustworthy channels, we aim to provide our users with a wide range of high-quality cryptocurrencies for trading.
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