Cardano - Need US Exchange Listings ASAP

Hi Cardano Team,

I’ve been following this project since it launched in 2017 and have been holding long. I’m a big believer in the project due to the rigor and process, but I have a few constructive criticisms that have been spurred by recent events in global regulation.

This project in my opinion is light on marketing particularly in the US. It simply does not get the attention it deserves despite the fundamental and high standards of development. I chalk this up to this project sort of being the anti-marketing project and I get that, but I think developments in the market are putting the project at risk and a more balanced approach is needed.

#1. Binance is barring US investors as of September 12th 2019. Bittrex has already done this.

Where exactly are investors in the biggest crypto market in the world going to trade your coin?

This is a massive issue that If you are ignoring and not prioritizing you do so at your own risk. In the short term, ADA is likely to begin to fall in price as that date gets closer and people realize they may be unable to trade or swap out of the coin if needed.

You can go ahead and build the greatest platform coin in the world and if it’s inaccessible or has zero recognition it will fall flat on it’s face. The best doesn’t always win, but the best marketed product often does. Ignore at your own peril.

#2. FATF rules are going are being applied across developed and emerging countries. This is massive and the first step in further regulation in the market.

Why you should care: Authorities are already clamping down on ICO, and regulating smaller projects that have gone live. We don’t know where this will end.

The larger your market cap and the more highly traded and invested ADA is, the more likely the project will be grandfathered past any overzealous regulators. It could become even more difficult, particularly in the US to get listed on the primary exchanges such as Coinbase and Gemini and any future exchange rolled out by the traditional firms.

Here is my point:

The Cardano/ADA team needs a sense of urgency in regards to making this project accessible to US Investors ASAP!! You need to prioritize getting listed on the exchanges of Coinbase and Gemini. Furthermore, you need to get your wallet functionality fully developed. This should have been the first thing done. Currently, I can only use my Nano S via your browser extensions, but this need to be integrated into the Nano Manager and other competing products offerings immediately.

I get it, it seems like Charles H wants to be the down to earth, anti-marketing/ anti-bs guy in a world full of scam and shit coins, but marketing and accessibility are serious fundamental issues regardless and very little is being done compared to other projects.

Let’s be clear - We are at a turning point in the industry!! Bitcoin is growing on institutional investment and developments. We are nowhere near the next full on bull market though the bear is over. BTC is gaining acceptance, and the regulators are taking the space seriously. The next BTC run up over the next 24-36 months combined with the growing regulatory attention is going to contract the market offerings outside of the top coins and accepted projects.

Trading from US investors in thousands of shit coins on binance and bittrex is coming to an end. If Binance and Bittrex eventually comply with US law and become listed exchanges I can nearly guarantee that it won’t be with hundreds of coins. Let’s be realistic, the regulators are going to scrutinize projects and this is going to limit what legit exchanges will accept.

Please don’t be in an ivory tower and think this can’t be applied to Cardano despite it having arguably the highest merit out of any project outside of BTC Itself.

Summary:
ADA needs to be listed on US exchanges before summer’s end.
Wallet accessibility and integration with all major providers needs to be developed in tandem.

Honestly, It’s irritating as a fan and supporter of this project that these two basic things have been ignored despite being the two most important things for ADA’s REAL usage and acceptance for it’s layer 1.

Thanks and good luck
Ocultado

5 Likes

Ada list listed on more US exchanges than most other cryptocurrencies. Here is a chart to compare

New exchanges list Cardano fairly regularly in different countries and other exchanges like Coinbase have publicly stated interest in listing Cardano.

9 Likes

Getting listed on exchanges falls under the purview of the of the foundation. Now that the Foundation has been reactivated I am optimistic that we will see action. While we are on some big exchanges in the US I do think we have a problem with NY State. Coinbase may be one of the few allowed to do business in New York.

4 Likes

This is an article on the situation in NY. Not sure if any more exchanges have been approved since the article was written. I’m going through this now with a friend who lives in NY who is having trouble getting some Ada.

In my opinion, Coinbase and Gemini are the most trusted US exchanges and the on ramp for coverting USD to crypto.

It’s a big problem and part of the reason ADA doesnt get much press compared to other projects. I’m amazed it has held up for as long as it has, but if you notice the price is dropping like crazy lately as people step out of it with nowhere to trade it.

As outlined in the listing policy of Coinbase they will only list decentralized coins, which we aren’t at this point. (expected Q4 this year). Not sure about Gemini though, but you should know that some (if not most) exchanges only list coins they want to list. It’s not a certainty that if we contact any exchange that they will list us right away.

A couple of reminders.

  1. Cardano decentralization and POS is not live yet. When it does go live to mainnet, then we will probably see Cardano on Coinbase and Gemini. Ever notice how CH says he can’t talk about Coinbase, so there is probably something in the works.
  2. Binance is starting a new division strictly for the US market. (https://www.binance.us/) It probably will have to comply with reporting regulations like any other US exchange.
  3. Sense of urgency? Go to GitHub and look at the pull requests and commits. They are actively working on the project. Also, if one has ever worked on a platform project, one would know their pace is fast.
  4. Facebook does not have a good record for trust, security and ethics. This is why Powell has concerns and wants them stopped.
  5. CH has talked repeatedly about the meta-data need for transactions and why they are building that into Cardano. Cardano is ramping up so they can comply with government regulations across the world.
  6. Publicity.CH addressed this in his last AMA.
  7. Markets always overreact to news. It doesn’t matter if its the stock market or crypto market.
  8. Blockchain is evolving. Smart contracts and the way we do business is changing. It’s migrating from a concept to reality. Cardano is being built on solid engineering principles, sound math by top crptographers and mathematicians and evaluated by third-party audits. Companies, institutional investors, developers, and governments that want something built on proven academic and engineering principles will be coming to Cardano.

One more thing, CH has been in the crypto world practically from the beginning. He studied math and cryptography. He co-founded ethereum. He is a very smart guy and he is also one of the top wealthiest guys in the cryptosphere. I personally don’t think that he would start a company to lose money. I firmly believe that CH knows what doing and I’m going to trust him over all of the arm-chair CEO’s.

Also, I don’t think that we will see Cardano start to blossom until 6 months to a year after POS and decentralization goes mainnet. In the meantime, we will see a lot of crap coins and platforms disappear. That will be a good thing.

Just my 2 cents.

9 Likes

:+1: Nicely said!!

1 Like

Absolutely, so great to see a genuinely intelligent, informed post in this place these days! :grin:

3 Likes

I’m actively on Twitter and Emurgo, IOHK and the Cardano Foundation are all very busy and its worldwide. They are kicking butt!! I’m very excited about the future of this project and also for the countries that are involved in it.

2 Likes

Well thats make me proud that i am a early disciple of charles h.he has the brains ,such a hard worker a pittbull,has the best team around him( i like rebecca valentine) ,charles has good fiat power to pump in to ada.after all is in place on the ada chain ,exchange listings will come one by one no hurry just build out cardano and see how bright it is taking out eth.

With Shelly ADA may be match for eth, but will be lacking 2 years of dapp development , now to overpower eth2.0 which is coming soon ADA needs to do much more than this.

Thanks for the response. I didn’t know they had that requirement.

Thanks for your response. Some good points.