Bittrex Global Considers Listing Some Tokens Created On The Tezos Network

Bittrex will be listing tokens in the Tezos network. (Rodion Kutsaev - Unsplash)

JAKARTA – Vaduz-based crypto exchange Bittrex Global, Liechtenstein, announced that it is working on listing FA1.2 and FA2 tokens on Tezos (XTZ). Because Tezos is considered very efficient in energy consumption. The move became a growing attraction for Tezos in big institutions.

Not only that, but Tezos users have also experienced a significant spike in the past year. This is evidenced by the three-fold increase in Tezos smart-contracts to more than 600,000 in that period.

According to InvestingCube, FA1.2 and FA2 are different standard tokens that support the creation of unique assets for use in projects such as decentralized finance or DeFi, NFT digital arts, DAOs, and more. As a result, the integration of FA1.2 and FA2 by Bittrex will enable the platform to support transactions involving various tokens operating on the Tezos blockchain.

With Bittrex Global's decision to target a number of tokens in the Tezos ecosystem, it will certainly increase the number of assets on the platform. Before entering a new token, Bittrex first conducts a thorough background check on the token before it is listed.

Due diligence includes token distribution, project founder background, roadmap, and community engagement, among a number of other factors. The inspection before entering the new token is expected to provide protection to investors in the event of unwanted things such as those caused by scam tokens, rugpull, and a number of other fraudulent schemes.

What is Tezos?

Tezos is a community-focused proof-of-stake blockchain to provide a secure, fast, inexpensive, and environmentally friendly transaction platform. Tezos has its own native token, XTZ.

Get to know Bittrex Global

The Bittrex Global crypto exchange is one of the world's leading crypto exchanges. Bittrex supports trading of over 250 cryptocurrencies. Not only that, but the platform also supports institutional investors who are interested in increasing their profits from the crypto market. Bittrex Global often provides a multi-wallet option which is rare in the market.

However, crypto communities who wish to use the Bittrex Global platform especially domestically should use a VPN as they would when accessing the Binance exchange.