Binance’s Crypto Selection Process Clarified by Co-Founder

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In this period when Binance is more than ever seeking to restore its image after the turbulence of 2023, the exchange is distinguished by a strategy of transparency and rigor. One of its co-founders, He Yi, recently spoke about the criteria for selecting altcoins on the platform. Let’s dive into the details of this policy and discover the challenges Binance faces to satisfy its users and maintain its credibility.

Crypto: The strict listing criteria at Binance

He Yi, co-founder of the world’s first crypto exchange, wanted to clarify the strict rules governing altcoin listings on Binance in an interview. According to her, the process is far from a mere formality. Every project must go through a series of internal evaluations, often relentless, before claiming a spot on the platform.

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Among the essential criteria are:

The technical base and market potential: the project must be based on solid technology and present significant market potential;
The popularity and interest of users: the level of market and user interest is closely scrutinized;
Investor support: a project must have reliable financial backing to ensure its sustainability;
The lifecycle of the project: its lifespan and potential for sustainable development are also evaluated.

He Yi mentioned that these projects are regularly observed and reevaluated. “Some projects issue listing rumors even before we contact them, creating pressure. We must avoid falling into these traps,” he added.

Ultimately, the listing decision rests on a multi-layered evaluation process, involving several people to ensure objectivity and rigor.

The psychological expectations of users

Another point addressed by He Yi concerns the often unrealistic expectations of cryptocurrency users. Many hope for returns of 100x or 1000x, unlike traditional investors who are content with annual returns of 20% – 30% with the BNB, for example.

This difference in perspective poses challenges for the centralized exchange (CEX) Binance, which seeks to educate its users on the reality of financial markets.

He Yi emphasized:

“We must help users understand the evolution and cycles of the market and adjust their expectations accordingly,” she said.

Moreover, He Yi acknowledged that, despite all their efforts, Binance cannot satisfy everyone.

“We aim to offer popular and relatively reliable projects, but this does not guarantee that the value of all projects will increase,” she clarified.

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This sincerity from Binance about the fluctuations and cycles of the crypto market is essential for maintaining user trust.

Thus, Binance stands out with a rigorous and transparent approach in terms of altcoin listings, while striving to adjust user expectations in the face of market volatility. “We continue to adapt and evolve to better serve our community,” Yi concludes.