Over the past few weeks, you’ve likely noticed that STORJ tokens have been listed for trading on a number of new exchanges. The most recent listings were on Binance and Poloniex, two of the largest exchanges in the world. Our team has been working hard to ensure you, our token holders, can easily trade your tokens - whether you’re selling tokens you’ve earned as a Farmer on the Storj network or acquiring tokens to purchase services.
As we continue to find ways to expand the utility of the token, having a larger variety of places to trade STORJ is great for our community. We realize that everyone has platforms they prefer - whether it’s because of the functionality of the platform, the fees they charge (or don’t charge) or because of their geographic region. We will continue to do our best to accommodate all of our community and continue to get STORJ listed in as many exchanges as possible!
These listings help our decentralized cloud storage platform stand out as well. As exchanges evaluate tokens for listing, they scrutinize whether the tokens have true utility. For example, recent reports indicate only 10 percent of tokens are in use after their respective token sales. When these exchanges list STORJ, it helps validate the utility of our token.
We are seeing the amount of service payments using STORJ increase month-over-month. As we integrate with new companies like BLOCKv, Loomia and many others building on our platform, we expect that number to increase. Many of these companies are integrating token swaps with STORJ on the back-end using smart contracts, so when their customers pay for services with their proprietary tokens, the portion relating to their storage costs will be automatically converted to STORJ as it’s sent to us for payment.
We’ve recently added new payment functionality to the Storj platform to make it even easier to pay with STORJ! We currently accept payment in STORJ, BTC and traditional currency and will soon add payment in ETH as well.
Below is a detailed update on the new exchanges listing STORJ for trading:
Binance (www.binance.com) - As one of the largest exchanges in the world, Binance trades more than $130 million worth of cryptocurrency each day. This makes it one of the largest exchanges in the world, not to mention China, where Binance is headquartered. On its first day listing STORJ, Binance exchanged $1.6 million in STORJ, making it the second largest market that day. Today, they exchanged more than $2 million!
Poloniex (poloniex.com) - Prior to converting to our new ERC20 STORJ token, Poloniex was one of the top exchanges trading our old SJCX Counterparty token. Now, they are one of the top exchanges for STORJ as well! With nearly a quarter billion dollars worth of cryptocurrency traded on Poloniex each day, the platform is a favorite amongst many in our community.
QRYPTOS (www.qryptos.com)- While you might not be familiar with QRYPTOS, you likely know its parent company QUOINE, which is another one of the world’s largest exchanges, headquartered in Japan. QRYPTOS and QUOINE are also launching a new exchange called LIQUID, which will enable the trading of tokens across a variety of other exchanges, ensuring token holders get the best prices when buying and selling tokens. LIQUID will also list STORJ when it launches in the first half of next year.
Changelly (changelly.com) - For STORJ holders that want to convert their tokens to cryptocurrency beyond BTC and ETH, or use other tokens to purchase STORJ, Changelly makes this possible. Users simply send tokens to a specific address and Changelly sends them a corresponding value of their requested tokens back to their designated wallet. Additionally, Changelly offers easy token purchases directly with credit card payments.
We are continuing to encourage all the major trading platforms to open markets for STORJ, including Bitfinex, HitBTC, GDAX, Kracken and ShapeShift. If there are particular exchanges where you’d like to see STORJ trading, please tweet at us and reach out to them directly to ask them to open a STORJ market. You can click the name of the corresponding exchange below to ask them via Twitter to start trading STORJ: