Fun fact: about 3 minutes ago I placed a bid for 0.01 USDK/USDT on Hotbit. Their volume-faking bot seems very confused by the presence of another trader on the exchange, and since then the volume has dropped from $200/minute to 0.
hotbit.io/exchange?symbo
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IDK maybe check out their About Us page? hotbit.io/support?page=a
(jk)
I'd guess that they don't actually list projects for free.
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Two projects that I was affiliated, both listed for free, without even applying. Also I have to recognise that has been supportive in a time of crisis when (the most scammy exchange ever) has been hacked, pausing in short term trading for an affected asset.
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Weird--maybe they just don't make money then? IDK.
Yeap, makes sense. I am still trying to understand the business concept of “ghost exchanges”. I guess many are insolvent. Most are trying to survive from listing fees, but not sure if anyone is paying to get listed there!
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I believe they make their profit when someone buys there and withdraw. The withdraw fee is big compared to other exchanges.
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If you apply they ask for a couple of bitcoin for listing (based on a project from not long ago), i suppose they only need a few projects to fall for it and they’re in the money. I think the lure for new projects to get a load of fake volume to get on coinmarketcap is too strong.
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