Volodymyr Nosov, CEO of WhiteBIT, Ukraine-based and Europe’s largest cryptocurrency exchange, which recently launched its own token WBT, made statements about the future of tokens.
The cryptocurrency world has a rapidly evolving aspect: Tokens. But few see the potential of tokens to become even more popular than cryptocurrencies. Because tokens can come into play for areas where a crypto currency cannot be used. For example, a token can be used as a means of payment, and discounts or campaigns can form the backbone of projects that can only offer special advantages to their owners. versatility stands out with.
Cryptocurrency exchange that recently launched its own token Volodymyr Nosov, CEO of WhiteBITmade hopeful statements about the future of tokens. Reminding that tokens were developed only to use the load in trading when they first came out, Nosov believes that this has changed now. Because we see tokens in many different areas from travel to entertainment.
Volodymyr Nosov, CEO of the WhiteBIT cryptocurrency exchange, is hopeful for the future of cryptocurrencies:
Introducing tokens into our lives since 2017 Stating that the usage areas have increased significantly, Nosov said, “There are many ways to use tokens. However, the essence of the event is the same; make a profit. Also, the benefit of using tokens now applies to both users and the exchange itself. Exchanges can increase the liquidity of the market and expand the user base, while users gain additional opportunities thanks to tokens. The success of many cryptocurrency exchanges today, more than anything else, is largely dependent on constantly maintaining trading volume, which is made possible by profits from tokens.” says.
Tokens issued by exchanges provide users with opportunities such as discounts on trade commissions, fiat deposits and withdrawals, additional income and rewards. In addition, token holders impact on the ecosystem of the stock market they have the advantage. For example, deciding which cryptocurrencies to list first, airdrops and early access to promotions…
Tokens as the currency of the future:
Volodymyr Nosov states that unlike cryptocurrencies, token prices are increasing steadily. For example, while in 2017 the KuCoin token was worth $0.81, today it is worth $9.52. as a percentage growth rate 1075%… While the FTX token was $1.8 when it first came out, it’s now $26.73, i.e. growth rate 1385%… Also, the total market value of the 5 most popular tokens today is $51.7 billion.
“Exchanges not only create their own tokens, but also promote the greater use and utility of the token. Today, some exchange tokens have a built-in staking and reward mechanism. So the token actually becomes a dividend-paying asset. A person who deals with cryptocurrencies I see a great possibility for the development of tokens, their use and their impact on our lives. t as a universal currency“Oken today does not seem like a fantasy, but rather a very probable reality,” says Nosov.
WhiteBIT has also recently joined the caravan of those who have launched their own token:
Let us remind you that on August 14, the WhiteBIT exchange issued its own WBT token. According to the information conveyed by the stock market, 1 million tokens put on sale in the first place are only sold by users. in 15 minutes Purchased. WBT was primarily planned as an internal exchange tool aimed at providing additional benefits and convenience for WhiteBIT users. WhiteBIT will provide rewards for active trades on the platform, trading tournaments, airdrops, listings on other exchanges.
Also, WBT tokens benefits include integration with other exchange products; It provides rewards for purchasers, more bonuses, less commission and especially an increase in referral rate of up to 40-50%. In addition, a reduction in trading commissions also brings discounts. Free daily withdrawal from ERC20/ETH networkdaily free AML checks, fixed number of token supply, and growth potential via weekly burn.