Binance compared to other Crypto Exchange. - page 2.

lixer

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Quote from: Xxmodded on September 29, 2020, 08:39:41 AM

Quote from: fortebettor on September 28, 2020, 02:04:00 PM

Binance was simply the first and here is the right to be the first. This is supplemented by a clear strategy. Transparent rules and clear fees. No combination and with a good policy of holding chips and increasing the value of the BNB's own currency. To this various projects like business angels etc.

I dislike from Binance when your account get abnonormal activity and should submit your KYC for withdrawing, how ever I still not trusted with many exchange take our data and not exist an exchange for long time, we found many exchange have been scam and run away many investor assets and how come if an exchange have to submit KYC, will be our identity take by exchange market if they have gone, will have guarantee for an exchange keep safety for document member and investor. Just our opinion with many exchange have new method for withdrawing without have submit KYC.

Actually you should get the account verified as soon as possible such that there should be no chance for the exchange to ask your KYC once you start doing big trades. I have been a long time user of Binance and I never had any issues with them at all because I have my account verified and I even use them as a wallet which I know is not a great idea as everyone says we must not use exchange as a wallet but it is just so easy to maintain portfolio there that I never felt the need to create separate wallets and it is too much of hassle.

Binance is without a doubt the leader in the industry right now and there are solid reason because a couple months or an year ago, I don't remember the exact time but they got hacked and lost funds but they never let their traders and people holding coins lose their money.

LUCKMCFLY

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Quote from: Timmzzy on July 09, 2020, 04:34:34 PM

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From my point of view, in my beginnings my first account was made in Bittrex and I really liked it, also when I met Binance it caught my attention much more, besides that Binance has much more volume than Bittrex there was something that disappointed me about Bittrex , is that it banned the country where I reside, and it seemed in very bad taste because this is crypto, there should be no prohibitions for countries, however Binance did not do it and that generates confidence for those countries that handle considerable volumes of Bitcoin trading.

justdimin

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Quote from: fortebettor on September 28, 2020, 02:04:00 PM

Binance was simply the first and here is the right to be the first. This is supplemented by a clear strategy. Transparent rules and clear fees. No combination and with a good policy of holding chips and increasing the value of the BNB's own currency. To this various projects like business angels etc.

Yes and sometimes simplicity along with trust becomes such a combination that you don't need anything else. I have traded on more than 8-10 exchanges but I have never felt the same trust while trading coins as I feel with Binance and the platform is so easy to use that I hardly ever get stuck and if I ever did get stuck on something their support is just great because there are no bot replies to our questions and the support actually replies with good intent and positiveness.

I was a long time user on poloniex and cryptopia but after the latter got hacked/ran away I never used any other exchange apart from Binance because it is all my hard earned money and there is no reason to trust any exchange when there is a clear leader already existing in the face of Binance.

Xxmodded

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Quote from: fortebettor on September 28, 2020, 02:04:00 PM

Binance was simply the first and here is the right to be the first. This is supplemented by a clear strategy. Transparent rules and clear fees. No combination and with a good policy of holding chips and increasing the value of the BNB's own currency. To this various projects like business angels etc.

I dislike from Binance when your account get abnonormal activity and should submit your KYC for withdrawing, how ever I still not trusted with many exchange take our data and not exist an exchange for long time, we found many exchange have been scam and run away many investor assets and how come if an exchange have to submit KYC, will be our identity take by exchange market if they have gone, will have guarantee for an exchange keep safety for document member and investor. Just our opinion with many exchange have new method for withdrawing without have submit KYC.

Twinkledoe

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Quote from: fortebettor on September 28, 2020, 02:04:00 PM

Binance was simply the first and here is the right to be the first. This is supplemented by a clear strategy. Transparent rules and clear fees. No combination and with a good policy of holding chips and increasing the value of the BNB's own currency. To this various projects like business angels etc.

And if I may add, Binance has their insurance for their customers, what you call SAFU - https://www.binance.com/en/blog/307883269744750592/Binance-Is-SAFU-7-Ways-We-Secure-Your-Assets-247

And they have no KYC if you are just having below 2 btc withdrawal daily. And this is good for small traders. Whereas, in bittrex, their KYC is compulsory for all levels. I stopped using bittrex a long time ago when they started to require KYC even for small traders.

fortebettor

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Binance was simply the first and here is the right to be the first. This is supplemented by a clear strategy. Transparent rules and clear fees. No combination and with a good policy of holding chips and increasing the value of the BNB's own currency. To this various projects like business angels etc.

pokeronlinestatus

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Binance is more trustworthy than Coinbase honestly, if you check reddit for example (most free place I know) you will see that there are tons of people who got their money stolen from coinbase because they couldn't provide enough evidence that they are who they say they are.

It means if I say I am Michael but turn out to be John Coinbase can keep all of my money. I understand that if I say a wrong name or act like I am someone else, that means we shouldn't do it and there should be "some" punishment for it, but it also doesn't mean that coinbase has all the rights to keep my money, they disguise it with "maybe you are a bad person who is money laundering and we will keep it for IRS and SEC" but they do not get it neither so Coinbase keeps it illegally.

lienfaye

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Quote from: tvplus006 on July 29, 2020, 02:51:13 AM

Quote from: spike420211 on July 09, 2020, 05:34:55 PM

I have not used Bittrex for a long time, probably about a year, so I do not know how the exchange looks now and whether its functionality has changed.

But I always liked Binance Exchange more, although earlier its design was inferior to Bittrex, but they fixed it. As for the functionality, Binance has always been an advanced exchange in this regard, almost advanced Grin

.

About a year ago, Bittrex canceled all orders that were open for a long time. I did not like this behavior of the exchange, and I transferred my Deposit to Binance, which I was trading on at the time. It is these ridiculous decisions that lead to an outflow of users from Bittrex, as a result of which other exchanges get new participants.

If thats the case for Bittrex then traders will decide to switch for other exchanges once they encounter a problem o disadvantage on their part.

I dont have experience using Bittrex but based on the reviews and comments here, it was surpass by other reputed exchanges including binance.

Well for me I will use the exchange that I feel secure and convenient. I've been using binance and kuCoin everytime I trade and satisfied with their services.

Stasik111

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i'm not pretty sure that bittrex and binance should be compared - binance has huge volumes and mostly professional traders work there. regarding Bittrex I don't know their competitive features. In this category i'd prefer to choose cex.io - they have instant deposits and withdraw with payment cards, and they list defi tokens

carriebee

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What I use most is binance when it comes to support group they are fast to respond. Base from my experience when I have a problem regarding my withdrawal their support group is fast and very active. Actually, I don't know these days what's new on Bittrex because as far as I remember I use this long time ago. Comparing these two has it's own benefits to the users.

perfect999

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Quote from: spike420211 on July 09, 2020, 05:34:55 PM

I have not used Bittrex for a long time, probably about a year, so I do not know how the exchange looks now and whether its functionality has changed.

But I always liked Binance Exchange more, although earlier its design was inferior to Bittrex, but they fixed it. As for the functionality, Binance has always been an advanced exchange in this regard, almost advanced Grin

.

Yeah the design change was something that was much needed in binance, I remember the early days of binance (which is only few years ago) and they were really not that great, nowadays they look awesome and that is why I enjoy them so much more.

Probably not the last improvement neither, they will probably do some more. I did hated it when the affiliate dropped from 50% to 20% but I understand it wasn't sustainable for them to keep giving half of their profit, obviously it made sense to drop it from a business end of things and I get that there was a rule that said "binance keeps the rights to drop affiliate % anytime they want" basically but when you work for 50% and you end up getting 20% instead you do get pissed off a bit. I can't think of anything else binance ever did wrong for me.

tvplus006

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Quote from: spike420211 on July 09, 2020, 05:34:55 PM

I have not used Bittrex for a long time, probably about a year, so I do not know how the exchange looks now and whether its functionality has changed.

But I always liked Binance Exchange more, although earlier its design was inferior to Bittrex, but they fixed it. As for the functionality, Binance has always been an advanced exchange in this regard, almost advanced Grin

.

About a year ago, Bittrex canceled all orders that were open for a long time. I did not like this behavior of the exchange, and I transferred my Deposit to Binance, which I was trading on at the time. It is these ridiculous decisions that lead to an outflow of users from Bittrex, as a result of which other exchanges get new participants.

jostorres

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Binance is usually taking the lead when it comes to rolling out new features, I think it’s all about having a good team that’s behind it and also having enough finance. For now, Binance is among the top exchanges, although I won’t really say the number one because they are all doing good in their own ways, there are people who would prefer other exchanges than Binance, we all have our own opinions.

As for the future, we can’t predict which exchange will be the best tomorrow. And like I have said, having a good team is always a way to boost any business. A new team can take over Bittrex and come up with better ideas and start to beat other exchanges.

btcholder

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Quote from: Timmzzy on July 09, 2020, 04:34:34 PM

Your opinion to how you see binance and bittrex in the next generation are welcomed.

I was regular trader in bittrex exchange before binance came. May be bittrex was the legit platform to trade that time. But when binance arrived with lots of new idea and give trader a new trading benefit, people automatically choose binance for trade. I trade in bittrex a year ago. I heard they improved their platform but i don't think they are capable of competitor with binance. Not just bittrex, no exchange are capable of competitor with binance at this moment. Binance is now no. one exchange in crypto space.

RealMalatesta

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When you are comparing the trading fee and withdrawal fee you realize that you are leaving some money on the table when you are doing trading a lot and that was one of the reason why people got attracted to binance to begin with.

When it first came out it had something so small as trading fee and if you are using BNB it was even lower that, if you are doing over a thousand dollars in trading per day, you would be basically saving over a thousand dollars per month just from the fee. That was proven later on with studies and calculations which wasn't hard and people realized that if you are big trader you would save a lot of money right away, however if you are a small trader like me, you are still saving some over the long period as well so it made sense to everyone to take advantage of that.

Yatsan

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Binance is dominating the whole market because of their contributions and support all around the world. Here in the Philippines the binance charity is really making a big move to be notice and it's impact to the traders here in our country is really big! Other exchanges are keeping it online however, the Binance itself is connecting to people that's why it keeps growing! Binance is not just a good exchange, it's a good company as a whole

FantasyGold

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See, I don’t really see any reason to make comparison. It’s ultimately bout our comfort and that is what my aim is as well. And for that, I pick Cryptocurrency Exchange that I can rely upon in terms of security of my funds.

I get just that with ChangeNow and more so the best part is the friendly interface and fast transaction speed, so before you even know everything gets done. I don’t really have any other expectations at all and else I could or anyone for that matter could wish for to have?

imstillthebest

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Quote from: diskodasa on July 27, 2020, 10:36:18 PM

Quote from: coinfinger on July 27, 2020, 01:55:39 PM

Quote from: Xxmodded on July 26, 2020, 11:38:47 PM

I can't believe how binance could give very good service to my country with withdrawal fee very cheap, before binance could withdrawing to local back we use local exchange have higher payment fees to withdraw, if you withdraw higher amount you must pay higher fee but with Binance only get fee 0.4$ how much you withdraw.

Actually Binance helped me a lot too with my bitcoins purchases because earlier I had to visit localbitcoins and find a trusted seller after which I need to provide him my kyc and I don't know if he can use my information for something illegal. With Binance I feel so safe that I am providing my documents to a legal company and their fees is way too smaller as compared to what local exchangers were charging me.

Also the trading fees is so minimal that it never hurts buying small amount of coins, like when a new coin is listed I usually buy some small amount of them in case their price hike up so amazing overall.

I also feel quite safe sending my documents here and this is an exchange I can switch to Fiat easily without having to spend too much time waiting.

Actually, the transaction fee here is very cheap and there are many discount policies for longtime investors so I have never felt disappointed about Binance. In addition, Binance is currently engaged in a lot of other areas and this makes Binance become more and more popular in the eyes of people.

its the fee that you guys attracted to binance . before when i use binance , fee isnt my concern but i was looking for a trading platform that is easy to use because thats also my first time to trade a crypto .

binance engage not only on one area a.k.a the trading world but they are now also expanding thier coverage . that is why they aqcuired cmc . this is the first step for them to dominate the crypto world and im excited to see if what they are planning next .

diskodasa

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Quote from: coinfinger on July 27, 2020, 01:55:39 PM

Quote from: Xxmodded on July 26, 2020, 11:38:47 PM

I can't believe how binance could give very good service to my country with withdrawal fee very cheap, before binance could withdrawing to local back we use local exchange have higher payment fees to withdraw, if you withdraw higher amount you must pay higher fee but with Binance only get fee 0.4$ how much you withdraw.

Actually Binance helped me a lot too with my bitcoins purchases because earlier I had to visit localbitcoins and find a trusted seller after which I need to provide him my kyc and I don't know if he can use my information for something illegal. With Binance I feel so safe that I am providing my documents to a legal company and their fees is way too smaller as compared to what local exchangers were charging me.

Also the trading fees is so minimal that it never hurts buying small amount of coins, like when a new coin is listed I usually buy some small amount of them in case their price hike up so amazing overall.

I also feel quite safe sending my documents here and this is an exchange I can switch to Fiat easily without having to spend too much time waiting.

Actually, the transaction fee here is very cheap and there are many discount policies for longtime investors so I have never felt disappointed about Binance. In addition, Binance is currently engaged in a lot of other areas and this makes Binance become more and more popular in the eyes of people.

justdimin

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Quote from: diskodasa on July 26, 2020, 10:15:54 PM

Binance almost dominated this whole market and recently they entered a lot of other areas that surprised me a bit.

Truly this exchange is making more people aware of the existence of this market and no other company can compare to Binance during this time. In addition, Binance always listens to the opinions of investors here and always updates what investors need to match the current situation.

Yeah and what impresses me is their ability to respond to the market demand, they saw a lot of traders wanted to do leverage trading and they were so quick to add that option and is so flawless to use that option.

They see what their user wants and implement it very quickly and they never had any issues with withdrawals so the trust was never an issue and the fact that they are biggest in volumes makes them a complete exchange and a serious trader would never try new exchanges because they are depositing big amounts and would never want any sort of risk unless the other exchange provides something out of the blue.

Topic: Binance compared to other Crypto Exchange. - page 2. (Read 1287 times)