Binance is giving away money to them who are already rich! - page 2.

Bttzed03

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https://bitcoincleanup.com/

I noticed they reached 1.1M followers on twitter and this must be related to the giveaway.

Quote from: Tduty on February 24, 2020, 12:46:58 AM

Binance is the best exchange for everyone

It is for people who ignores the shady practices of this exchange (i.e. fake news of HQ at Malta) but it is NOT the best for everyone.

Quote from: Tduty on February 24, 2020, 12:46:58 AM

but it seems they don't care every trader rather only the rich one! They are making rich people richer when they have no plan for every type of trader! Binance is giving away 1.1 Million USD worth BNB coin to them who will trade over 1 Bitcoin with some rules!

Just drop that making rich people getting richer. You are only complaining because you don't have what it takes to join. It is their exchange and funds so it's only natural that they set their own rules. It will not be their last giveaway, they might launch another trading giveaway for users with less funds.

Quote from: Tduty on February 24, 2020, 12:46:58 AM

I really don't like this type of movements!

So what you gonna do? If you don't like it then you either ignore/don't use the exchange OR just get funds worth 1 btc so you can participate next time. Stop whining.

For everyone's reference Binance Launches 50,000 BNB Community Giveaway

Tduty

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Quote from: avikz on February 24, 2020, 01:11:17 AM

Take a look at this incident from an entrepreneur's perspective. Let's assume you run a clothing business and you want to retain your loyal and big customers. So you start with deep discount package for your customers who will buy clothes worth 1000 grand during a certain period and offer fixed 30% discount to them for their next shopping session. You don't give the same to your small customers because they aren't profitable for you. It's business buddy! Big clients are the ones who give business to the exchange so it's no wonder Binance would want them to retain by providing such cash gifts! Nothing unethical or wrong here!

Same goes for banks as well. We have so many banks who provides preferential interest rates to their "ultra high net worth clients" just to keep their account in their bank. In a market bustling with competition, will always see such kind of preferential treatment towards the deep pocket individuals!

I know they are doing this for promotion purpose and there will be many new investors who will sell goods or coins to have 1 Bitcoin for trading in Binance. There is no wrong here, but as they are already the best exchange they should think about other traders who don't have 1 Bitcoin! Their all events are same, even their recent IEO bounty was the same which is not bearable for low volume traders!

shinratensei_

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Leading Crypto Sports Betting & Casino Platform

Quote from: Tduty on February 24, 2020, 12:46:58 AM

Binance is the best exchange for everyone but it seems they don't care every trader rather only the rich one! They are making rich people richer when they have no plan for every type of trader! Binance is giving away 1.1 Million USD worth BNB coin to them who will trade over 1 Bitcoin with some rules! I really don't like this type of movements!

If you are aware of the basic formula about why binance was doing it. Remember more rich people will be joining the competition and binance will be getting more and more profit. As far as i know, if the majority of trading events on the various exchange sites have already made like this. You can take some examples from okex and another exchange site too.
This is the reality when the exchange site is looking for a huge profit.

khiholangkang

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Quote from: Tduty on February 24, 2020, 12:46:58 AM

Binance is the best exchange for everyone but it seems they don't care every trader rather only the rich one! They are making rich people richer when they have no plan for every type of trader! Binance is giving away 1.1 Million USD worth BNB coin to them who will trade over 1 Bitcoin with some rules! I really don't like this type of movements!

This does not only happen at Binance, but in many exchanges do the same thing. They hold a trading competition and the winners are those who trade the most

avikz

legendary

Activity: 3080

Merit: 1500

Take a look at this incident from an entrepreneur's perspective. Let's assume you run a clothing business and you want to retain your loyal and big customers. So you start with deep discount package for your customers who will buy clothes worth 1000 grand during a certain period and offer fixed 30% discount to them for their next shopping session. You don't give the same to your small customers because they aren't profitable for you. It's business buddy! Big clients are the ones who give business to the exchange so it's no wonder Binance would want them to retain by providing such cash gifts! Nothing unethical or wrong here!

Same goes for banks as well. We have so many banks who provides preferential interest rates to their "ultra high net worth clients" just to keep their account in their bank. In a market bustling with competition, will always see such kind of preferential treatment towards the deep pocket individuals!

Tduty

member

Activity: 448

Merit: 21

Binance is the best exchange for everyone but it seems they don't care every trader rather only the rich one! They are making rich people richer when they have no plan for every type of trader! Binance is giving away 1.1 Million USD worth BNB coin to them who will trade over 1 Bitcoin with some rules! I really don't like this type of movements!

Topic: Binance is giving away money to them who are already rich! - page 2. (Read 190 times)