How do I get my altcoin added to Bittylicious?
Bittylicious is very picky when it comes to adding altcoins. Primarily, this is because we only want to add coins that have some merit, but secondly we only want to add coins if we think it's likely there will be significant volume.
Although you, as an altcoin developer or promoter, will think that there will be huge volumes on Bittylicious, there probably won't be. Altcoins are very specialised and usually altcoin users are happy to trade on crypto-only platforms like Cryptsy. Having said that, altcoins that are promoted well and, preferably, have high volumes on crypto-only exchanges already, could do well at Bittylicious.
I really think my altcoin will sell well on Bittylicious
Adding an altcoin on Bittylicious involves costs on our side:
- Setting up a back end environment to work with your altcoin.
- Altering the front end to display your altcoin to the masses.
Bittylicious's entire revenue stream is based on a small commission on each trade, so unless there are large volumes, the costs will not outweigh the revenue we get from adding your altcoin.
As such, we require the following before adding an altcoin:
- A proposal which outlines what makes your altcoin different from any other altcoin.
- A deposit of the equivalent of £200 (in BTC) which is refundable in the following ways:
- 50% if the first month's sales is greater than £5,000
- 50% if the first three months' sales is greater than £20,000
- Your coin being sold 24/7 on the Bittylicious platform. This means that at least one seller must be online 24/7 (or trading using an automated client).
Please also note:
- Refunds of the deposit are given back in BTC. This is great for you if the price of BTC rises, not so good if it falls.
- We reserve the right to remove your altcoin from Bittylicious if it does not generate sales greater than £20,000 in the first three months.
- Only altcoins that conform to the standard bitcoind API can be added. We would love to add other coins, but development time is significant.
- We are willing to ask existing sellers on the platform whether they would be interested in also selling your coin to increase liquidity, but you should have at least one dedicated seller that you have recruited.
What if you can't get a dedicated broker
If you're unable to recruit a broker to do the selling on the Bittylicious platform (i.e. to have their own bank account), we have the facility for one of our brokers to do this for you for a fee.
If your altcoin is on Bittrex, there is a process to do automated arbitrage. If this is something that interests you, the fee is a further £200 (in BTC) where £100 worth of your cryptocurrency is bought initially.
This is entirely optional, and if you provide your own brokers, this fee is unnecessary.
I agree. What now?
Please go to the helpdesk and submit a ticket. Include information on your altcoin, suitable links and also agreement to make the deposit. You will then, upon approval, be given a BTC address to make the deposit.