During the ICO boom of 2017, several exchanges jumped on the opportunity to fund themselves by issuing a digital token.
The Rise of Exchange Tokens
Most notably, leading digital asset exchange Binance launched in 2017 after conducting a successful ICO that raised $15 million through the sale of Binance Coin (BNB). Following the popularity of the Binance token sale, other exchanges – such as KuCoin, Huobi, and Cobinhood – followed suit to capitalize on the ICO boom and the popularity of exchange tokens.
Generally speaking, the majority of exchange tokens offer similar benefits, which include a reduction in exchange fees and a share in the exchange’s profits.
Moreover, they also act as a proxy of the success of the issuing exchange, which explains why Binance Coin (BNB) has been one of the most successful digital tokens since its launch.
Best Cryptocurrency Exchange Tokens
Below, you will discover the top cryptocurrency exchange tokens that you can add to your digital currency portfolio in 2020.
Related Articles:
- Best Privacy Coins, Rated and Reviewed for 2018
- Most and Least Volatile Cryptocurrencies, Rated for 2018
- Best ERC20 Tokens, Rated and Reviewed for 2018
If you want to discover more investment opportunities in the digital asset markets, subscribe to the Bitcoin Market Journal newsletter today!
