How Firi chooses which new cryptocurrencies to list
We get a lot of questions about which new cryptocurrencies we will be listing, as well as requests for cryptocurrencies that people want us to list. When we asked our followers what they want from Firi going forward, listing new cryptocurrencies was among the top 3 in wants. Getting more cryptocurrencies on the platform is definitely something we want to do! However, there are a few assessments we have to do before we can list a new cryptocurrency. We will try to elaborate on these a bit more here.
New cryptocurrencies on firi?
We use several factors to determine which new cryptocurrencies we will add.
The first is that there need to be serious projects in place that will be around long-term and that Norwegians have a long-lasting interest in. Some cryptocurrencies are popular for a short time, perhaps due to social media hype, but interest in them dies after just a short while
and people move on to new pastures. Projects that are serious and more established often have a community that drives the project forward and creates interest that lasts. We are here for our customers, and if the demand for a cryptocurrency is high, we will of course consider adding it. But we need to assess whether this interest is going to last.
It’s also a positive if we have people who want to be market-makers and create liquidity on the market. This is important if the market is going to function properly. This is the second factor we look at. If the trading volume on a coin is too low, it will be more difficult for you as a customer to fill your orders quickly and at good prices.
Generally, we feel it’s important to have good liquidity on the markets so that you can buy and sell larger volumes with a low spread. We consider this to be more important than having lots of markets where you can’t buy/sell at competitive prices.
You can read more about market-making, bots and trading via API here. You can also get in touch if you are interested in market-making for a specific cryptocurrency.
Finally, we always need to look at how to implement listings of new coins in light of the Money Laundering Act which all financial institutions must comply with. Therefore, whenever we are assessing a new cryptocurrency, we need to sit down for a chat with our compliance team.
What new coins will Firi list?
We would love to be able to give you an answer. We will be adding more cryptocurrencies throughout 2022, but unfortunately we can’t reveal any specific plans for listing coins right now.
Currently, we offer bitcoin, litecoin, ethereum, cardano, XRP and DAI, and we are continuously evaluating new coins to list.
At CoinMarketCap.com, you will find a list containing most cryptocurrencies according the size of their market cap. If you have any wants, just give us a shout, either via email@example.com or in our chat when you are logged in.
We also recommend following us on social media as we will be releasing information on new coin listings there.