How can one promote new cryptocurrency projects?
The ability to write smart contracts within the Ethereum network and issue tokens made building cryptocurrency projects much more accessible. Due to high competition, many tokens and coins in their early stage of development struggle to maintain an attractive exchange rate for their investors. However, there are some ways to popularise new assets.
Effective marketing strategies require the preparation of appropriate content and branding that is adequately conveyed to potential investors. Another important aspect is community building. Finally - many projects focus on solid marketing partnerships - sponsoring sports stars or famous entertainment venues increases the exposure of large crypto brands.
Decentralised exchanges are a simple way to start trading your token. However, the most popular investment tool is still centralised exchanges. The listing option legitimises the project and allows it to reach a wide range of exchange users.
However, listing on centralised exchanges is often a big challenge. The big problem is the dump of investors' tokens immediately after the token listing. A bearish pressure can finish off even the best-prepared projects.
Can exchanges create an environment in which they can actively support the development of small cryptocurrency projects? It turns out so. An interesting case of such an initiative was prepared by the cryptocurrency derivatives exchange - Geco.one.
Geco.one allows the integration of any BitGo compatible token on their platform. This solution makes it possible to conclude transactions on all instruments available on the exchange, using the new token as a security deposit (collateral). It means that in the event of making a profit from trading, to cover the earnings of investors, the exchange must buy the equivalent of tokens from the market - stimulating the demand and, thus - the price increase. The stock exchange will also become a storage space for these tokens. Geco.one's first B2B collaboration is with STASIS and their EURS stablecoin, the largest non-dollar stablecoin.
A system that allows small cryptocurrency projects to increase their demand by trading on popular cryptocurrency pairs (especially with the use of leverage) is an idea that, supported by an effective marketing and development strategy, can support the growth of new cryptocurrency projects.