[ How to list your own Token on a Public Exchange ]-Steemit Crypto Academy | S5W4 | Homework Post for @reddileep

1- Define your idea of listing a Crypto token in a public Crypto Exchange and what its significance is.

2- Demonstrate how to prepare everything needed to list your newly created Crypto Token in a public exchange such as selecting an exchange and adding a few BNB coins to your MetaMask wallet to accomplish the gas fee. (If you already have some amount of BNB in your wallet, you don’t need to deposit again.)

3- Demonstrate all the steps of listing your own Crypto Token in a Public Crypto Exchange. (Screenshots required)

4- Demonstrate all the steps to bring half of your newly created Crypto Token into a Public Exchange (In addition to simply stating the steps, you should provide a clear explanation about each step)

5- Withdraw some of your own crypto Tokens into any other wallet such as Trust Wallet and MetaMask wallet. (Confirm the transaction through the relevant Block Explorer)

1- Define your idea of listing a Crypto token in a public Crypto Exchange and what its significance is.

When we want to exchange a Crypto token in a decentralized exchange such as Pancakeswap, Uniswap among others, we do not interact directly with an order book, we trade with a pool of liquidity that has been generated by the contribution of several users within the exchange, these users are called Liquidity Provider '' LP '' and they are responsible for providing the necessary liquidity so that we can make exchanges without any problems.

Before listing a new token, we must be clear about the project behind the token, its functions in the real world and its usefulness in the blockchain, in this way we will have an appeal that can make people buy many of our token. A token without a project will go nowhere and will become a Memecoin.

When we list a crypto token it means that any user who wants to buy the token can go to the exchange and exchange it for another cryptocurrency, this creates a market for the token, the more people buy the better price it will have.

If a token is listed and liquidity is added to it, several things happen, such as:

• You can start trading the crypto token within the decentralized exchange

• The crypto token gets a value

• Make the token public so that users can make transactions of real value, since if liquidity is not added, the token will have no value

• The project would gain popularity among users

• The project would gain a reputation and this may attract investors

Adding liquidity is not economical, since we must provide the pool with enough liquidity for hundreds of users to trade, so we are talking about amounts of money that can be very high.

It is important to clarify that there are many differences between listing on a public exchange and a private one. In a public exchange anyone with the necessary knowledge and money can list their token to be traded, however, in private exchanges such as Binance, Kucoin, among others, our project goes through different evaluations and must comply with the characteristics that the private exchange request, if the token does not meet the standards they will never list it

As developers of the token we can list it on more than one decentralized exchange, this would give us a greater volume of trade. Since it is a Binance Smart Chain token, I can list it on any DEX that works on that network, such as ApeSwap, Biswap, BakerySwap, among others. If I attach my token to the Ethereum network I could also list it in Sushiswap, UniSwap and in any other DEX that exists in that network, that is a very big advantage that we can use in our favor, this would increase the number of users who trade with our tokens and we don't have to rely on centralized exchanges and their slow selection processes.

Marketing is vital to make our token popular, if users do not have the contract they do not find out that the token exists so we must advertise our project, for this we can use social networks and pay for advertising so that the project is known.

2- Demonstrate how to prepare everything needed to list your newly created Crypto Token in a public exchange such as selecting an exchange and adding a few BNB coins to your MetaMask wallet to accomplish the gas fee. (If you already have some amount of BNB in your wallet, you don’t need to deposit again.)

I have already deposited some amount of BNB in my wallet so I'm not going to deposit again hence I will repeat it below.

To create a crypto token we must prepare the tools to be able to manage everything necessary and one of those tools is to have a Wallet with enough money to pay the commissions that they will charge us for creating a token, in this case I will use the Metamask wallet and I will transfer you approximately $ 15 in BNB cryptocurrency.

First log into MetaMask

Image source

Then click on the download Icon displayed on the window.

Image source

Then we can select the browser to download. I will select the chrome download option as mentioned in the image below.

Image source

Then click on “Add extension” option.

Image source

Then we can see that it is successfully added to chrome.

Image source

Then click on the “create wallet”.

Image source

Click on “I agree”.

Image source

Now it is the time to create a password as seen in the screenshot below.

Image source

Then click on the next option and get the secret key. Remind it for the security purposes.

Image source

Then we can see that we get the mnemonic phrase which we have to arrange and then all it done.

Image source

The Mekamask wallet is created now.

Image source

Then you can add coins to the wallet installed.

Image source

Now I’m changing the settings.

To add a network we must enter the network registration data, in the case of BSC they are the ones that I will show below:

• Network Name: Smart Chain
• New RPC URL: https://bsc-dataseed.binance.org/
• ChainID: 56
• Symbol: BNB
• Block Explorer URL: https://bscscan.com

The above data must be entered into the form.

Image source

Now it is clearly seen that the BNB is added to the wallet.

Image source

At this point we will focus on withdrawing the equivalent of $ 15 in BNB, from our exchange platform, to our metamask wallet, in my case I will use Binance, this procedure is carried out to pay the commission payments of the creation of the token.

In our Binance account, having already selected BNB, we proceed to click on “withdraw”.

Image source

3- Demonstrate all the steps of listing your own Crypto Token in a Public Crypto Exchange. (Screenshots required)

source

Now that we have the contract, we go to the DEX, in my case, it will be Pancakeswap. Now we click on '' Connect Wallet '', we choose metamask, metamask will open, we click on '' next '' and then on '' connect ''.

source

5- Withdraw some of your own crypto Tokens into any other wallet such as Trust Wallet and MetaMask wallet. (Confirm the transaction through the relevant Block Explorer)

To add the token in Trust wallet we must locate the button for other tokens, then we press add custom token, then we select the network and it will be ordered as follows:

Red: Smart chain.
Contract: 0xada57a79ax2d4568317509a17456513f78424954a68
Name: Dilchamo
Symbol: DCA
Decimals: 18

CONCLUSION

List our token to a decentralized exchange in our last step to complete the creation of a token, once the token is added and has added liquidity, anyone who has the contract can trade with it. The contribution of liquidity is an important step, however, it is not economic since we must pay commissions and the money we want to contribute.

Let us remember that a token without liquidity is a token without value and a token that cannot be obtained in any exchange is a useless token, so they are mandatory steps if we want to start creating our token and enter the crypto world in a new way. professional

As you could see, we also have the ability to send our token to other wallets without the need to add liquidity to the cryptocurrency, we only have to have the amount of BNB necessary to pay the commissions for the transaction, but of course, we will be transferring a token that does not have any value

In this work, we continue the task of the last class where we saw all the steps to create a token and now we saw everything necessary to list it, very grateful to the teacher @reddileep for creating this fun topic which I enjoyed a lot.