How do I get my altcoin or ICO added to Bittylicious?
Bittylicious is very picky when it comes to adding altcoins and ICO coins. 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 a developer or promoter, will think that there will be huge volumes on Bittylicious, there probably won't be. Altcoins and ICOs are very specialised and usually these users are happy to trade on crypto-only platforms so they convert BTC/Ether to your coin. 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. This also applies to ICOs - we would require additional funding to develop back end solutions for these.
- 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.
If your altcoin is on another exchange, then the process is more difficult as it may involve custom coding or for you to provide a coin supply. Contact us for details.
This is entirely optional, and if you provide your own brokers, this fee is unnecessary.
Specifcally regarding ICOs, we're even more picky.
We don't have the infrastructure here to support it, so any upfront costs will involve developing to support these coins. This won't be cheap, but if you're happy to pay for a more generic development (e.g. to support ERC20 in general) we might be able to come to an arrangement.
We charge £1000 to list an ICO coin (payable in BTC), plus any development effort if applicable. This is a charge, not a deposit, and as such as not refundable. We will put up the coin for up to three months and reassess afterwards depending on how good the coin performs.
You will need to be able to provide decent liquidity in order for us to actually send on the coins to our users.
I agree. What now?
Please go to the helpdesk and submit a ticket. Include information on your altcoin or ICO, suitable links and also agreement to make the deposit. You will then, upon approval, be given a BTC address to make the deposit.