Blockchain-based projects have become the talk of the town these days. Many entrepreneurs are exploring business ideas that are laid out on the foundations of blockchain technology. From developing digital assets on blockchain technology to using blockchain as a means of storage, entrepreneurs across the globe have started using blockchain technology to solve various problems. Though blockchain technology can be used for various operations it is still very popularly used for Defi or decentralized finance.
The usage of blockchain and crypto specifically for various business models has become so popular that now we have businesses like “The Crypto Launchpad” that provide business consultancy and country specific regional exchange listing services specifically for upcoming blockchain businesses. Though crypto projects and other blockchain projects are taking the world of business by storm, a lot of entrepreneurs are still debating if listing their projects on a regional exchange platform is necessary. Listing blockchain projects on a regional exchange or a public chain can make a lot of difference and can bring in a wide range of advantages as well. This journal aims to help you understand the various advantages crypto projects come across when they are listed on regional exchanges.
Advantages of listing your project on regional exchanges –
Regional exchanges provide flexible deposits
One of the best advantages of listing projects on regional exchanges is the flexibility they provide when it comes to deposits. Regional exchanges like Wazirx or CoinDCX allow Indian users to deposit fiat currency (Indian Rupee – INR) in their exchanges that can be then used to purchase or trade crypto assets. Unlike digital gold or other digital assets, Fiat currencies are an extremely convenient method of a capital pledge as they are easily available. Once the user deposits fiat currency it can later be converted into cryptocurrency for trading or holding purposes.
Regional exchanges accept local currency
One of the most challenging things about trading on international exchanges is that users most of the time have to convert their local currency into either USD or other currencies and this can be a tedious process for them. Having to convert their local currency means putting extra effort and this can drive away a significant portion of beginner-level users. Fortunately, when you get listed on regional exchanges like CoinSwitch Kuber or Binance India that accept local currency like the Indian rupee, users will no longer have to go through the tedious and confusing process of having to convert their local currencies.
Boosts security and safety
Every time a project gets listed on a regional exchange like CoinDCX or WazirX it becomes publicly accessible in that particular country and that means manipulating the blockchain will become extremely difficult or even impossible. The chances of becoming victims of online hacking attacks are extremely low when a project becomes publicly listed on a regional exchange. Regional exchanges maintain extremely high standards for security protocols. This significantly boosts your project’s safety and security.
Open for everyone: better visibility
A major reason why public blockchains (blockchains listed on the regional exchanges) are preferred more than private ones is because of the open environment. An open environment allows anyone from any corner of the world to have access to the blockchain. When people have access to your publicly listed blockchain it not only attracts more members but also increases the visibility and brand identity of the business.
Gives you a chance to stay anonymous
Your business can stay anonymous on a public blockchain and can still run securely and safely while being open to anyone and everyone in the specified geographical location. The Identity of your business is secularly protected, and no third party can track your activities on the blockchain.
Every time you list your project on a public exchange it means that it is truly decentralized. Publicly listed blockchains on regional exchange platforms are open to all and are extremely hard to manipulate, unlike private blockchain projects that have some form of manipulation due to the central authority. Unlike private non-listed projects, listed projects are truly decentralized as every user has a copy of the ledger and operates on a distributed system.
Any organization or individual who wants to invest in a blockchain project is looking for complete transparency. Getting listed on a public regional exchange platform is a great way to show that the operations of your blockchain project are completely transparent and trustable. In a fully shared network system, the transparency is likely to be extremely high as it leaves no or very little space for manipulation of the blockchain which in turn eliminates any possibility of corruption in your network.
Your network becomes immutable
What is the best thing about getting listed on a regional exchange platform is that it is extremely immutable. Once the blocks are created and time stamped there is no way to change or alter it. The concept of immutability brings in more trust from the members of the network or the chain.
Examples of a few local/regional crypto exchanges –
UAE – BitOasis, Rain,
India – WazirX, CoinDCX, CoinSwitch Kuber,
Singapore – Okcoin, Coinut
Indonesia – Tokocrypto, Indodax
South Korea – Bithumb, Upbit
Regional crypto exchanges provide users the flexibility of depositing fiat currencies to trade cryptocurrencies. If you an entrepreneur who wants to list blockchain project on a regional exchange platform, head over to The Crypto Launchpad and consult the best crypto and blockchain experts. They will help you take your blockchain business to the next level by providing their assistance and experience.
SOURCE: The Crypto Launchpad