To protect our users, the LiteBit team will conduct periodic reviews of digital currencies listed on our platform. LiteBit tracks the performance of all our cryptocurrencies listed on our platform. To provide a solid user experience and to guarantee the quality of our product, we draw up a quality standard. When cryptocurrencies fall under our quality standard, they are further assessed and removed when required.
The following is a list of factors that LiteBit generally uses to determine whether a currency or market will be removed:
Team behind the project
- Commitment of the team to the project and the road map.
- Cryptocurrencies are no longer supported by the team and other parties that may influence the project.
- The project will stop or is likely to cease operation within the foreseeable future.
- The project must be in a state of bankruptcy, procedure for winding-up, insolvency or other relationships against part of the assets.
- Low liquidity during an unspecified period.
- The currency is not suspected of misconduct on the market, such as money laundering, market manipulation or insider trading.
- The currency is quoted from large exchanges.
- The disclosure of information by the project is incomplete, misleading or false.
- Quality and level of development activities.
- Level of public communication and activity.
- Smart contract quality and sustainability.
- Risk of double spending (51% attack on blockchain network).
- Blockchain and transaction confirmations are too high and therefore risky for the trade price.
- Cryptocurrency aims to enable or facilitate violating (Dutch) legislation.
- We weigh the extent to which a cryptocurrency (reputation) can cause damage to LiteBit. (for example because the purpose of its creation is controversial (for example because it concerns weapons, extreme environmental pollution, etc.)
We will always announce the removal of cryptocurrency. This requires you to indicate that you want to receive news and updates from LiteBit in your preferences.