HomeAltcoin NewsPayFair Cancels Plan to List its Token on HitBTC due to "Concerns"

PayFair Cancels Plan to List its Token on HitBTC due to “Concerns”


A lot of things are happening behind the cryptocurrency industry scenes right now. PayFair, a relatively popular project, has made a rather surprising decision. Although the team was ready to have its token listed on HitBTC, those plans have now been canceled. Various “concerns” make this exchange less appealing compared to other trading platforms.

The PayFair team is doing a lot of things right. Getting listed on new exchanges is not easy in this day and age. Asking the community which exchanges should be considered is an interesting solution in this regard. It seems a lot of enthusiasts wanted to see the token trade on HitBTC. This exchange is pretty popular, although not necessarily the primary choice for altcoin traders.

HitBTC Isn’t a Good Fit for PayFair

It now seems PayFair will not trade on this exchange after all. The team has made it clear they will not pursue the HitBTC option in the future. Various flaws and concerns were pointed out to the team in the past few days. There are some good reasons as to why this platform isn’t necessarily the best option for this token.

First of all, the team is concerned over the “eye-watering withdrawal fees”. This has been a problem with HitBTC for as long as most people can remember. It is unclear why the company maintains such an unusual structure. It seemingly ends up hurting their business more than anything else. Additionally, there are allegedly hidden listing costs. It is another big reason for PayFair to look for other solutions.

Moreover, the public perception of HitBTC isn’t too stellar. While it is a somewhat popular platform, it simply doesn’t appeal to the masses. All of these reasons warrant the decision by the PayFair team to look for a new exchange to pursue. For now, the team is negotiating with two other trading platforms. It is evident getting altcoins to newer platforms remains a tedious process. This issue is only compounded when the trading platform has a bit of a PR problem.

Header image courtesy of Shutterstock


JP Buntinx
JP Buntinx
JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.

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