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Topic: Binance legally registered at U.S, does Bitcoin will get increase? (Read 718 times)

hero member
Activity: 1498
Merit: 586
Binance is one of the best exchange here in cryptoworld and it is really a great news to know that it is legally registered at US, but i dont think that because of it the price of bitcoin and other cryptos will increased immediately, maybe on the right time we can able to see bitcoin pumping very high again just like what happend before.
Bitcoin price will increase , as what we have known before it will be go higher when we received a good news like this one, it can affect the market because people will now think that bitcoin is now recognize by the government and they can freely advertise it.
sr. member
Activity: 882
Merit: 260
Binance is one of the best exchange here in cryptoworld and it is really a great news to know that it is legally registered at US, but i dont think that because of it the price of bitcoin and other cryptos will increased immediately, maybe on the right time we can able to see bitcoin pumping very high again just like what happend before.
hero member
Activity: 1638
Merit: 518
well, based on my knowledge.
adding some market will not affect the price, can u see how many market in this world, 10 times more than the total altcoin in the world.
even if it's binance . its not affect at all.
and also, what people looking on binance for now its about their IEO, i guess.
sr. member
Activity: 806
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I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?


This Binance news probably won't have much effect on Bitcoin.

Although Binance is the largest exchange in terms of volumem Bitcoin has been traded in the US for years now so having a new office open can't have that much of an effect. There may be new traders registering, but given KYC is also required the same way, they probably already have accounts on Coinbase and are already trading nonetheless.
It will give some effect since this legalization will increase the number of traders in Binance, this will also increase the demand where a lot of investors will be added and coins to be transferred to Binance.
Legalization of binance will be the first step for some other countries to accept crypto in their countries. This will become the trigger for them to move and start to accept crypto from now on.

Binance do have an impact on bitcoin market but not that big and fast. Little by little Binance known for its many altcoins in its market helps crypto currencies particularly bitcoin become mainstream. The US government is not really against bitcoin after all, as we can see there are many exchanges already in the US. The US just impose very tight rules on bitcoin and crypto currencies because it is decentralized. 
sr. member
Activity: 1260
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www.Artemis.co
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?


This Binance news probably won't have much effect on Bitcoin.

Although Binance is the largest exchange in terms of volumem Bitcoin has been traded in the US for years now so having a new office open can't have that much of an effect. There may be new traders registering, but given KYC is also required the same way, they probably already have accounts on Coinbase and are already trading nonetheless.
It will give some effect since this legalization will increase the number of traders in Binance, this will also increase the demand where a lot of investors will be added and coins to be transferred to Binance.
Legalization of binance will be the first step for some other countries to accept crypto in their countries. This will become the trigger for them to move and start to accept crypto from now on.
sr. member
Activity: 784
Merit: 282
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?


This Binance news probably won't have much effect on Bitcoin.

Although Binance is the largest exchange in terms of volumem Bitcoin has been traded in the US for years now so having a new office open can't have that much of an effect. There may be new traders registering, but given KYC is also required the same way, they probably already have accounts on Coinbase and are already trading nonetheless.
legendary
Activity: 3346
Merit: 1352
Leading Crypto Sports Betting & Casino Platform
I think that there is some connection between the two. Bitcoin dominance was continuously increasing until the time when Binance US platform came online. And once that happened, the Bitcoin dominance suddenly declined from 71% to 66%. I would say that Binance US caused a drop in the BTC prices than an uptick. And it is not very surprising. Most of the trade volume in Binance is made up of altcoins. I have checked their charts and only around 1/3rd is made up of BTC vs USDT trade (they use USDT instead of USD). Rest is made up of altcoin trades.
newbie
Activity: 20
Merit: 5
It's a tiny bit of good news but nothing more than that. USA is still only a small player in the Bitcoin market IMO so the influence will not be great.
sr. member
Activity: 1148
Merit: 251
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

The price of bitcoin it's not basing to what exchange do like binance location. The price of bitcoin is depending to what's on demand in the market. Binance is only exchange that have a branch in US but it doesn't mean it will have big impact on the price of bitcoin. But of course we can't aside that having Binance USA is good news and we know that many users of exchange will be benefitted about this.
sr. member
Activity: 672
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Why should bitcoin got increased its price in the first place if it's only an exchange got their license  approved in a certain country. some of US citizens as I know have been using bitcoin since long ago and there's no banning just stricter rules that not any exchange without license could get the userbase from there it's a country with big and strong economy after all.
Although it's a good news but I guess it's just an ordinary news because there are some exchanges that has already legally registered in the US not a surprise here. However, having an additional option is always welcomed.

It may or not increase the price of Bitcoin but i am pretty sure that it will open a new option for U.S. citizen to acquire cryptocurrency although they already using Coinbase for buying and selling their crypto. also OP is wrong about the statement that crypto is banned in U.S. because they only stop their citizen to stop participating on ICO but they are good to buy & sell crypto on a licensed exchanges.
hero member
Activity: 2954
Merit: 533
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Why should bitcoin got increased its price in the first place if it's only an exchange got their license  approved in a certain country. some of US citizens as I know have been using bitcoin since long ago and there's no banning just stricter rules that not any exchange without license could get the userbase from there it's a country with big and strong economy after all.
Although it's a good news but I guess it's just an ordinary news because there are some exchanges that has already legally registered in the US not a surprise here. However, having an additional option is always welcomed.
sr. member
Activity: 1190
Merit: 306
Even though Binance has opened a new Exchange for United State people, it does not affect for rising price of Bitcoin
And why should it?  It isn't as if Binance was never available to residents in the states, and even if it were a brand new exchange it would still be one among many.  There is no reason in my mind why the rebranding should affect bitcoin's price.  At all.

i don't think usa banned crypto!
No, crypto is still legal in the states.  However I think there are some states that Binance excluded, and it's probably because there are some state laws on the books regarding licensing or even anti AML stuff.  I couldn't say for sure, but those are only a few states involved.
sr. member
Activity: 2100
Merit: 309
Bianance US have the same with Binance usually but now still less altcoincan trading there, but step by step some altcoin have added and can trading with Binance US now, today add two coin for listing with Binance US raven coin and chainlink coin, I think next time will added new coin again and all of coin on binance usually will have in biannce US.
sr. member
Activity: 1176
Merit: 286
i don't think usa banned crypto!
as for Impact on prices bitcoin, Yes but after over time this will affect prices positively
Location of Penans. For a long time it facilitates trading and this will benefit prices without a doubt
The rise in prices does not come in one day but over time
Americans will be able to use binance more easily and this is a good thing
sr. member
Activity: 2002
Merit: 250
I'm sure it will have a big impact on the volume of Bitcoin trading,
and you have seen it now that the price of Bitcoin is recovering from the lowest support level,
and we will see that Bitcoin rises even more in the next few days
sr. member
Activity: 1078
Merit: 256
Binance have open new exchange market for United State people, you can check the website for Binance US and different with Binance exchange market usually, most positive respond from many US citizen because they are excited with Binance exchange and they can make investment bitcoin or altcoin with Binance.
Considering that binance ask for KYC to be fully verified US government will allow that as they have ways to completely monitor the exchange,
the citizen can now invest with crypto with facilitation coming from binance, in the long run it will be appreciated and take effect inside this
entire industry.
sr. member
Activity: 1344
Merit: 270
Binance have open new exchange market for United State people, you can check the website for Binance US and different with Binance exchange market usually, most positive respond from many US citizen because they are excited with Binance exchange and they can make investment bitcoin or altcoin with Binance.
sr. member
Activity: 1540
Merit: 420
www.Artemis.co
Good thing that they can operate in the US legally but the volume is not too impressive, but slowly it will build confidence for US traders now that they have alternative on where to trade. Surely they have potential to compete with largest crypto exchange in the US.
hero member
Activity: 2814
Merit: 911
Have Fun )@@( Stay Safe
Enforcers of the law in the US is more strict than any other country. once they execute a law, no one wanted to disobey it and face the circumstances.
That is the case with every country around the world, if a particular country comes up with a certain law you have to comply with it to perform or function and if you are following the rule you will be fined or you need to close down your business. US is not the only country that enforces rules and regulation but every country that comes up with their version will force the company to follow their rules.

Binance is an exchange and they registered legally with the US law and how can it boost the price of BTCitcoin. If there is a huge investment in it then you might see an increase in price. Just registered alone will not bring in huge investments  Tongue.
sr. member
Activity: 1078
Merit: 270
If United State have legal bitcoin transaction I think bitcoin become higher price, many citizen of US want to invest money in bitcoin because they want get much profit with cryptocurrency worl, by legal Binance for US maybe many investor from US become binance member and have potential to pump binance coin.
hero member
Activity: 756
Merit: 507

Do we actually have countries that have banned bitcoin? because what I have seen is countries threatening to ban it, some speaking against it and some not just saying anything about it, but I have not seen one single country that has, china had once threatened to ban miners and not crypto which we can see how they are working towards theirs.

India planned to ban it but still in the court for that and many citizens are just still using the cryptocurrency, the united states where trump openly came to speak against it never talked of banning but only spoke against it as being an unregulated asset which means there is chance that it could be regulated by them which I feel that is what they are trying to achieve already through Binance exchange and Coinbase.

the question is - can a country somehow implement the ban and control the ban. this is really important question. because you may issue a law about ban for crypto, but if government can't guarantee it's execution, so that law won't be effective.. so that meant citizens of that country still would be using crypto and then what such a ban changes?
about Binance - I doubt this registration will affect the market much..
legendary
Activity: 1568
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I don’t take seriously all the information that appears in the media about the ban on cryptocurrency in the United States, because I am sure that the US government expresses its fears regarding those moments where cryptocurrency is used for criminal purposes or where cryptocurrency users abuse opportunities  cryptocurrency market to avoid paying taxes and so on.  In any case, one cannot say that the United States prohibits cryptocurrency, but at the same time read information about the start of trading Bitcoin futures, because these are mutually exclusive things.

It's all a way for them to collect money. Either through the fees for filing the registration or through taxes. That's all the government cares about. The worst part is, everything done through our government takes forever to get done. I'm sure it takes more than a year to even get the required permits to operate in the United States, even after  you've paid the several hundred dollar registration fee. They can scream regulation all they want, but what they really want is the money. They do the exact same thing with every other industry they have no reason to be involved in in the "free" United States. This will probably not mess with the price of Bitcoin at all. There is still many other places we could access without having to sell out our personal information to trade.
hero member
Activity: 2926
Merit: 640
Any form of adaptation will result to bitcoin price pump. I think if other countries that banned bitcoin will un-ban it, it will make a huge diffident to the price, because what we are targeting is mass adoption.
Every country have a local exchange in terms of bitcoin, this is a big step in mass adoption.
Do we actually have countries that have banned bitcoin? because what I have seen is countries threatening to ban it, some speaking against it and some not just saying anything about it, but I have not seen one single country that has, china had once threatened to ban miners and not crypto which we can see how they are working towards theirs.

India planned to ban it but still in the court for that and many citizens are just still using the cryptocurrency, the united states where trump openly came to speak against it never talked of banning but only spoke against it as being an unregulated asset which means there is chance that it could be regulated by them which I feel that is what they are trying to achieve already through Binance exchange and Coinbase.
full member
Activity: 966
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I don’t take seriously all the information that appears in the media about the ban on cryptocurrency in the United States, because I am sure that the US government expresses its fears regarding those moments where cryptocurrency is used for criminal purposes or where cryptocurrency users abuse opportunities  cryptocurrency market to avoid paying taxes and so on.  In any case, one cannot say that the United States prohibits cryptocurrency, but at the same time read information about the start of trading Bitcoin futures, because these are mutually exclusive things.
hero member
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The U.S never banned crypto. Binance had to block US residents from accessing their site because they didn't have any license to operate there.
This is the truth mates, U.S. can't ban the cryptocurrency it could've the use of it but it's not. Binance know their limits as well as the country boundaries and so they did not operate in U.S. however, I've seen some people who are from U.S. that uses some kind of VPN or IP hider to still use the binance. And speaking with the expected price increase. I am not expecting that much since there are already exchanges before binance gets legal, people could jump from one to another or just ignore if they're happy with their existing exchange.

I think the same way. When the US allowed bitcoin trading, there was no major change.
The release for Binance only shows us one more step in the regulation of cryptocoins in the USA.
Just one more method of control for them, which is still good, as it partly prevents money laundering, as laundering is not good for the bitcoin image.
legendary
Activity: 2576
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The U.S never banned crypto. Binance had to block US residents from accessing their site because they didn't have any license to operate there.
This is the truth mates, U.S. can't ban the cryptocurrency it could've the use of it but it's not. Binance know their limits as well as the country boundaries and so they did not operate in U.S. however, I've seen some people who are from U.S. that uses some kind of VPN or IP hider to still use the binance. And speaking with the expected price increase. I am not expecting that much since there are already exchanges before binance gets legal, people could jump from one to another or just ignore if they're happy with their existing exchange.
sr. member
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I think that globally will not affect in any way. As always there will be a small effect from the news release, but in general this will not lead to a change in the trend. In the USA, those who wanted to use bitcoin could also do this illegally.
hero member
Activity: 952
Merit: 513
US market has some high number of volume so the possibility of it affecting the price of bitcoin is possible. Maybe we might experience some positive price movement in the first 1-3 day of the launch of the exchange although this doesn't change the fact, the US government are strongly against the adoption of the currency since they can't control it.
No. I don't think so, a simple exchange opening (even if it was one of the biggest exchanges in the industry), isn't really enough to raise the price of BTC move then 0.1%.

The people who would have wanted to buy BTC in the US would have used other ways to do so, Binance opening their doors will only encourage some semi-interested users to buy some cryptocurrencies, not much big news.

Good for the industry though - who doesn't love more adoption.
legendary
Activity: 1414
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Binance become more bigger exchange market with many kind of trading peer from bitcoin, ethereum, USD and could support using pear BNB or binance coin, by legal in United State maybe Binance become more higher exchange market for the future and many people want to use binance as their trading market.
hero member
Activity: 2716
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Dimon69
USA have not banned crypto , you have been reading fake news in this case.
There are several big crypto exchanges which operate in the USA, I doubt that new exchange will get new investors , they will just get a piece of the existing customers.
I thought Im late in some news that Crypto or exchanges is banned in USA, definitely a fake news. Though Binance will gain more US supporters or investors too in these event. Some investors who still finds crypto risky might have a second thought of trying it now since it was legally registered and accepted in their country. Binance is aiming to be more known exchange for every investors so being registered in a very potential many investor country is a good step for the them.
sr. member
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Bitcoin will not purely benefit from this achievement by the Binance. Binance is the one who is legally registered in the U.S and that means that they will get the benefits of being registered because there is a lot of people in the U.S that are trading in Binance and if there is only one coin that will get pump because of this, then it would be the BNB of Binance.
full member
Activity: 490
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USA have not banned crypto , you have been reading fake news in this case.
There are several big crypto exchanges which operate in the USA, I doubt that new exchange will get new investors , they will just get a piece of the existing customers.
hero member
Activity: 2660
Merit: 551
at least we can expect more investors which would help make price of bitcoin better
Initially and today in the USA there are a lot of investors.The binance will definitely benefit from this, but against this background, the price of bitcoin is unlikely to somehow change.
Not to mention that people will invest much eager if they see that Binance is legally registered in US and it is compliant with all of US regulations, but to be honest I doubt that this will have noticeable impact on BTC price

I would say Binance would gain more values than bitcoin will do if Binance is going to be accepted by the USA government. I am not sure if this has happened or not. But if that will so, then yes Binance price will have positive move than Bitcoin does.

I don't know why you guys are discussing about USA accepting Binance. As far I know, they have been given the go signal to operate with Binance.US. And they hire BAM to front with them with US regulators. But so far we have seen that it didn't have any effect on the price because it continue to go down to the $8k levels.
sr. member
Activity: 518
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at least we can expect more investors which would help make price of bitcoin better
Initially and today in the USA there are a lot of investors.The binance will definitely benefit from this, but against this background, the price of bitcoin is unlikely to somehow change.
Not to mention that people will invest much eager if they see that Binance is legally registered in US and it is compliant with all of US regulations, but to be honest I doubt that this will have noticeable impact on BTC price
member
Activity: 263
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I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?


It's not Binance registration in the U.S that worries people but the U.S Government because they are unpredictable imagine what happened between them with mobile phone giant Huawei Technologies over 5G. Hope Binance will comply with SEC & IRS for whatever they want - there is a reason some of the Coinbase operations are in the UK.   
copper member
Activity: 448
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I have never read that the USA ban crypto, we still have Coinbase operating in the USA, what I know of is that many ICO do restrict US citizens from investing in their project, USA do trade in some exchange too, just that the US government takes right of their citizens very serious.
legendary
Activity: 3346
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Any form of adaptation will result to bitcoin price pump. I think if other countries that banned bitcoin will un-ban it, it will make a huge diffident to the price, because what we are targeting is mass adoption.
Every country have a local exchange in terms of bitcoin, this is a big step in mass adoption.

A few countries account for the vast majority of Bitcoin trade volume. Countries such as US, EU, Japan, China, South Korea and Canada adds up for more than 90% of the daily cryptocurrency volume. And Bitcoin is already legal in all these nations. However, change in legal status can make a difference. For example, in China it is forbidden to trade Bitcoin against fiat currency (but trading against USDT is legal). If China lifts this ban, then for sure Bitcoin may undergo a major bull run. From what we have seen in the past, the decisions taken by the Chinese central bank and the government do have a big impact on the exchange rates of Bitcoin and the other cryptocurrencies.
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binance is just an exchange, so I think this problem will not affect bitcoin's price very much. I have been following this market for a long time and I see the market fluctuated strongly when a trade war occurred.
member
Activity: 653
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Binance have open registration for US citizen, many investor from US and make bitcoin will be popular in north America, after Brazil now United State are greatest country for bitcoin.
legendary
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Not your Keys, Not your Bitcoins
To my knowledge Bitcoin has never been banned in USA. It's just that USA residents were prohibited from participating in ICOs unless the company hosting it had some kind of license or authorization. Gemini for example is an US licensed exchange and I think most people buy from them. An alternative is Coinbase. So I don't see why Binance being legally registered in the States would affect the price too much.
hero member
Activity: 798
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Any form of adaptation will result to bitcoin price pump. I think if other countries that banned bitcoin will un-ban it, it will make a huge diffident to the price, because what we are targeting is mass adoption.
Every country have a local exchange in terms of bitcoin, this is a big step in mass adoption.
member
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I would have expected bitcoin to have a bit of a uptick after this, it really didn't and we are going down faster than I could ever prepare myself for when it happens. However I always remind myself that when things get worse it means they are getting ready for things get better. Remember we did had that $20k to $3k period but then we had that $3k to $13k period as well after that.

So, I am guessing now that the binance is allowed to work in USA as well it means when we start to have better times again the american folks will be with us as well, not in coinbase type of business places but on binance where the hard work is going on. Its mainly altcoin like people mentioned but do not forget the usdt and bitcoin pairs as well where you can literally buy bitcoin with dollars.
I think not raising prices is a very clear result that we can see very early because binance is allowed to work in the US or not, it is not an influence when the user has a method of bypassing the blocking and participating in binance, binance that is legally registered is just a way to make it easier to operate, and users in this country will have less hassle. The price of bitcoin does not rely on this news to change is for sure, the change of bitcoin needs greater information and more direct influence.
legendary
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I would have expected bitcoin to have a bit of a uptick after this, it really didn't and we are going down faster than I could ever prepare myself for when it happens. However I always remind myself that when things get worse it means they are getting ready for things get better. Remember we did had that $20k to $3k period but then we had that $3k to $13k period as well after that.

So, I am guessing now that the binance is allowed to work in USA as well it means when we start to have better times again the american folks will be with us as well, not in coinbase type of business places but on binance where the hard work is going on. Its mainly altcoin like people mentioned but do not forget the usdt and bitcoin pairs as well where you can literally buy bitcoin with dollars.
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I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

The increase or not will be based on the trend that the market brings. Like Binance in early 2019, the price was only $ 5.5 but when Binance Launchpad was born, they actively used their money to push the token price and then they were trusted by many speculators -> price increase.
Legal registrations in the US only increase their volume again and there is no reason for prices to rise while the market is in a recession.
legendary
Activity: 3052
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I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?
Obviously, it won't happen only with this, don't get me wrong these kinds of stuff does put a great pressure on the buy side of bitcoin and all other currencies which means there is a better chance it gets an increase but these are not alone itself enough for bitcoin to go up.

What this makes is that it makes things harder to go down and it makes it easier to go up, but just because it is harder to go down doesn't mean it will not go down (as we can see) and just because it is easier to go up doesn't mean it will go up. Hence, what this does is just paves the way that's it, hence there is literally nothing to be hyped about around here, we just have to keep on trying our best to get the bitcoin name out there and create more awareness for it and increase the adoption like this never happened.
legendary
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Obviously, someone had answered already that US didn't banned Bitcoin or crypto in general.

Now to get their US Binance platform and to fully satisfy US regulations, they have partnered with this so called company, BAM Trading Services, it is a California based company, it is registered as a money services with US FinCen. As far as the effects, we still don't know it, it was just recently launched and remember that not all states supported Binance.US as well. I think you can't created an account if you lived in Texas and New York so that's a minus for Binance for sure. So we really can't say if it will push the price or not, but I guess the good news their market is really expanding and in the long run we might see the impact positively.
Even If not all state accepts the cryptocurrency is US, but at least, United states in quote is no longer frowning at the use of cryptocurrency again, they just want it regulated, and they just don’t want anything that they feel will disrupt the system they have built on ground for years which is the system of fiat.

Overtime, I believe that when other states sees how sweet the use of cryptocurrency is and how it is beginning to benefit other states, then their major could also join in the raise also. We just have to take things easy in this cryptocurrency market, otherwise we will get ourselves confused. It has been days now since the platform has been launched and I have still not seeing much increase In the value of binance, but anyway, patience is all we need, I am sure that we will still see that change on value as we proceed.
hero member
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why all of a sudden they've adopted the system of crypto like Binance?
Binance as a big exchange will always attract business owner to create similarly exchange with modifying some feature.
That's why we see the new exchange was launch almost every month.
If they can create an exchange which better than the other exchange, they can make money, and that will be huge money.
With so many people in the US that will have interest in cryptocurrency, Binance wants to expand its business across the nation, and that is normal if Binance open registration for US citizen.

Do you think, this will affect the market of bitcoin and crypto could be increase now?
Not so fast, because that will depends on regulation from the government.
But if we talk about the growth in the underground, I am sure that it will attract more people to join with crypto world and that could help the growth of the cryptocurrency in the future.
Maybe after this, we could see the cryptocurrency will rise again.
It will each not just people in the US but also people in every country to join with the cryptocurrency.
legendary
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First of all, although the Binance US platform has started trading this week, the functionalities have been severely limited. The platform is available for trading in only 37 out of the 50 states, with important states such as New York, Florida and Texas being excluded. Also, initially they will be dealing in just 7 cryptocurrencies: Bitcoin, Binance coin (BNB), Ether, Ripple, BCH , Litecoin and Tether. It will take many months to get the trade volume back to the previous levels.

Another thing is that during the last 6-7 days, the exchange rates have fallen by as much as 20% and the trends indicate that it will take some more time for the exchange rates to stabilize. Bitcoin prices fell from $10,200 to just around $8,300 per coin. And this is despite spikes expected due to the launch of the Binance US platform and Bakkt. Bitcoin ended up with a daily loss of -12% on September 24th. A loss of that magnitude occurred only a handful of times in the recent past.
legendary
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I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?


Obviously, someone had answered already that US didn't banned Bitcoin or crypto in general.

Now to get their US Binance platform and to fully satisfy US regulations, they have partnered with this so called company, BAM Trading Services, it is a California based company, it is registered as a money services with US FinCen. As far as the effects, we still don't know it, it was just recently launched and remember that not all states supported Binance.US as well. I think you can't created an account if you lived in Texas and New York so that's a minus for Binance for sure. So we really can't say if it will push the price or not, but I guess the good news their market is really expanding and in the long run we might see the impact positively.

hero member
Activity: 1330
Merit: 569
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?


Yes Binance is a big player in the crypto industry but assuming that would lead to increase in the price of bitcoin is same thing as  saying a McDonald opening additional retail store overseas would increase the price of flour used for doughnut across the world. It does not follow that pattern. What is going to happen is Binance is making a platform for those who felt left out or who are carrying out their trade via other platforms to start patronising and also to see if they can get some fresh people into crypto by their own effort which eventually primarily increases their own bottom line. If the ripple effect led  to an increase in bitcoin price, that's is simply a bonus.
full member
Activity: 1022
Merit: 106
First of all, US never banned crypto so what you said is already a false statement Smiley.

Regarding the price increase of Bitcoin, it is a no. If you will see the daily volume of Binance.us, it is very low and it is the same with Huobi US. Now what do you expect with it?? It will not affect the price of Bitcoin in the short run but maybe we can see a price increase if the daily volume of these exchanges will increase.
Creating a trading platform in the USA is a competition for the american's cryptomarket between Binance  and Coinbase. Binance captured about 54% of the trading volume of the entire cryptocurrency market. Coinbase, on the other hand, has only about 14%. . Coinbase isn't going to give up its positions and launches several more new tokens.That’s what can give rise to BTC prices
legendary
Activity: 2576
Merit: 1043
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First of all, US never banned crypto so what you said is already a false statement Smiley.

Regarding the price increase of Bitcoin, it is a no. If you will see the daily volume of Binance.us, it is very low and it is the same with Huobi US. Now what do you expect with it?? It will not affect the price of Bitcoin in the short run but maybe we can see a price increase if the daily volume of these exchanges will increase.
sr. member
Activity: 1988
Merit: 453
The exclusion of New York is going to hit them hard. I don't have the state-wise user stats with me, but given the size of the economy and population of New York, I am sure that they'll lose a lot of users and trade volume as a result of the exclusion. They have also excluded states such as Texas and Florida. I hope that they'll change this policy later.
member
Activity: 658
Merit: 10
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

Crypto banning has taken place in so many countries but the participants are still numerous. Therefore, the prohibition or acceptance is just a statement and it does not matter too much.
The United States is still the country with the most participants in the crypto market, although the country has been banned. Therefore, this is also a normal event.
hero member
Activity: 1890
Merit: 831
Legal -illegal

Good tweets about bitcoins-bad tweets about Bitcoins

I think we are now above all this .
Every now and then some things like these happens once in a while therefore when we talk about legal registration we should understand that we already have many other platforms like local Bitcoins that was founded in 2012 and is legal and it doesn't mean binance was banned before .. people still used it and they will still use it ..
Maybe 1-2% increase in volume can be seen and that's it.
And it's just US...
newbie
Activity: 69
Merit: 0
Only binance registartion is not enough but bakkt is near
full member
Activity: 1750
Merit: 118
as you said Binance is on altcoin side.
Well, I understand that binance is not on side of bitcoin

how do you guys think of that ?  binance is an exchange and every exchange will usually support bitcoin  .

 bitcoin is only one and there are many altcoins but this does not mean that they prioritize the altcoins more than bitcoins . or its because binance have thier own token/altcoin which is called bnb coin

if binance is open to u.s  , bitcoin are not only the one that could pump but also altcoin can pump as well   .
legendary
Activity: 2212
Merit: 1008
This is what I'm seeing too which I cant see a connection how this licensed obtain can really affect bitcoins price as you said Binance is on altcoin side.
On the other hand or topic, Binance do really know on how to play the game where they do maintain up their reputation or position on the entire exchange market
in spite of that US prohibition and they do able to comeback but as been said earlier this doesn't give out significant impact on Bitcoins demand.
Sooner or later lots of big exchangers would really definitely need to comply on getting licenses for a particular country.

Well, I understand that binance is not on side of bitcoin, but it makes name bitcoin as a ship to carry BNB to continue to grow. And if you think that US Binance doesn't have an impact on bitcoin, it's wrong because bitcoin will be worse if Binance doesn't exist in US.

As we all know that US has a large population of crypto holders so if we lose some of them it might bring bad wind to bitcoin. And from my understanding why US gives license to binance, yeah because binance obeys all policies made in US because US always sees everything as business, they don't want to lose this profitable business.
hero member
Activity: 2968
Merit: 687
I don't think there'd be any difference at all knowing that Binance only got their license and they were forced to move from the US temporarily because they don't have the necessary license to operate in the American soil. Also, Binance is more on the altcoin side of things and not really bitcoin, although they also have bitcoin but not really that much substantial on the market compared to the big names in exchanges.

The US never banned crypto, too, and it will be too far-fetched for it to happen knowing that they are already benefiting from the cryptosphere and industries built around it.
This is what I'm seeing too which I cant see a connection how this licensed obtain can really affect bitcoins price as you said Binance is on altcoin side.
On the other hand or topic, Binance do really know on how to play the game where they do maintain up their reputation or position on the entire exchange market
in spite of that US prohibition and they do able to comeback but as been said earlier this doesn't give out significant impact on Bitcoins demand.
Sooner or later lots of big exchangers would really definitely need to comply on getting licenses for a particular country.

legendary
Activity: 3542
Merit: 1352
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I don't think there'd be any difference at all knowing that Binance only got their license and they were forced to move from the US temporarily because they don't have the necessary license to operate in the American soil. Also, Binance is more on the altcoin side of things and not really bitcoin, although they also have bitcoin but not really that much substantial on the market compared to the big names in exchanges.

The US never banned crypto, too, and it will be too far-fetched for it to happen knowing that they are already benefiting from the cryptosphere and industries built around it.
sr. member
Activity: 1988
Merit: 453
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

That's good news. Binance is one of the most popular crypto-exchanges, and in the US there is a huge number of people interested in cryptocurrency. I think, ultimately, it will have a positive impact on the price of Bitcoin and other cryptocurrencies.

Binance is mostly being used for altcoin trading. Only about 30% of the trade volume comes from BTC vs USD or BTC vs USDT trading. The remainder is mostly composed of altcoin vs BTC or altcoin vs USD/USDT trade. Binance exchange supports more than 500 different coins in its platform, so when compared to the other exchanges the altcoin volume is higher for them.
hero member
Activity: 2828
Merit: 611
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?
First thing that this news will do is to first alleviate the fear that people has had about the United states fighting cryptocurrency, at least they know now that all those rumor that the United states has been fighting cryptocurrency or that trump would be cryptocurrency is a lie.

This may actually have a very big impact on cryptocurrency market because people would be able to legally carry out their trades in bitcoin now through binance platform, most especially the UNITED STATE citizens and you know that trade usually create lots of demand for bitcoin also because they would want to buy bitcoin to start trading. It is really great news to me, and i think that we have some exchanges that will really feel threatened about this because this will only give binance more hype for their exchange.
full member
Activity: 546
Merit: 100
I am very sure it does. Binance is still the most popular and undisputed top exchange for traders especially from the Asian market. US citizens are just like Chinese who loves bitcoin ans wants to own one. Even in the recent conducted surveys, it shows that the majority of their millenials want to buy btc for their future investment. This will surely play as one of the huge factors for the incoming real bullrun for new ath.
full member
Activity: 1638
Merit: 122
I think that even though binance exchange places have such legality it will not be able to influence the price movement of bitcoin,
no . binance dont exchange places or migrate to other country but they only support countries that they restrict before.  events like this can really impact the price because u.s citizens are probably going to try and trade on binance more oftently knowing the fact that binance is a five star exchange .

Quote
which will influence the price movement of bitcoin when there is halving of bitcoin or the legality of using bitcoin in all countries so it will make bitcoin prices go up because bitcoin will be increasingly hard to get.
hard to get ? why ?  if its legalize then why it will be harder to get?  for the miners maybe , because the mining competition can grow and can become tough to mine a coin but the existing mined btc are still circulating internationally and can be easily obtainable in many sources
hero member
Activity: 2464
Merit: 550
Leading Crypto Sports Betting & Casino Platform
I think that even though binance exchange places have such legality it will not be able to influence the price movement of bitcoin, which will influence the price movement of bitcoin when there is halving of bitcoin or the legality of using bitcoin in all countries so it will make bitcoin prices go up because bitcoin will be increasingly hard to get.
hero member
Activity: 3052
Merit: 606
There is no special effect on this but Binance can retain its client.

Also, with the exchange that will cater US citizen, they will only be able to trade a limited number of coins, unlike in Binance where there are a lot of coins with great volume to trade. Maybe due to restrictions or the follow in the US, so they have to adopt with it, just like coinbase where there's only few and limited number of coins listed in the exchange but it's good that Binance were able to cater the US clients instead of losing them.
sr. member
Activity: 1092
Merit: 256
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USA hasn't made any ban against cryptocurrency usage, here it is same as other countries. For some reason they haven't given access for the trading of different cryptocurrencies. Recently Binance has been developing a separate platform for the USA people. Maybe this seems to be the reason for Op to make a relation between the legality and increase in the usage of bitcoin.
sr. member
Activity: 1193
Merit: 251
at least we can expect more investors which would help make price of bitcoin better
Initially and today in the USA there are a lot of investors.The binance will definitely benefit from this, but against this background, the price of bitcoin is unlikely to somehow change.
legendary
Activity: 1666
Merit: 1196
STOP SNITCHIN'
The U.S never banned crypto. Binance had to block US residents from accessing their site because they didn't have any license to operate there.

I doubt their activities warranted money transmitter licenses, but they've been skirting their obligations under the federal Bank Secrecy Act and should have registered with FinCEN as a money services business.

My suspicion is that FinCEN's May 2019 guidance -- which suggested Binance was operating as an unregistered MSB -- is the reason they left the US market. The guidance destroyed any ambiguity about Binance's obligations, which offered them the chance to go "Oops, we didn't know!" and rectify the problem by leaving the market. To support this narrative, they immediately registered a new entity with FinCEN.

Binance was playing dumb. We'll see if it works out for them.
jr. member
Activity: 37
Merit: 1
i don't think so,Because this news does not mention anything about the deposit of usd, I don’t think this is good news, just the strategic layout of Binance.
sr. member
Activity: 1988
Merit: 453
OK... so this is the reason why the altcoins went up by so much today. Now the American users can use Binance to purchase or sell their altcoins. Many of the coins (such as Ethereum, Litecoin and Ripple) have gone up by upto 15% during the past 24 hours. Bitcoin dominance has also come down from 71.7% to 68.2%, which represents a decline of 3.5% in one week.
sr. member
Activity: 1456
Merit: 267
Buy $BGL before it's too late!
Apparently, Bitcoin price isn't affected by U.S. registering Binance. I am sorry but not all positive news directly affects Bitcoin price. I wish Bitcoin set off a bull run again. It was going very good until it stopped between 13k-14k dollars.
There's a lots of factors that's needed to be added before we can feel the impact of the price if there's some that will happen, not just because we've heard good news it's will reflect right away to the entire market, though most of the investors are still hoping that with news like this addition to the adoptions will take place, from there we will see more price movements.
jr. member
Activity: 175
Merit: 1
Well USA didn't ban Bitcoin,but they have a lot of restrictions. Many exchanges are available in the USA, recently I've seen that CoinDeal entered the USA market. So, cryptocurrency market in the USA has been constantly developing.
In my opinion, that's just impossible for USA to ban Bitcoin comprehensively.
full member
Activity: 593
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BBOD The Best Derivatives Exchange
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

I have read the official announcement from Binance about banning US citizens from participating in the exchange on Binance after this weekends. Why is it accepted in the US and does this affect the decision Binance announced earlier? Any information provided on Binance's official website?
member
Activity: 686
Merit: 45
Are they still going to use the new Binance US site or can US citizens trade freely on the official Binance site now with the rest of the world?
I dont see the need for a separate site just for US traders especially if Binance now possesses the needed US license.
jr. member
Activity: 368
Merit: 2
There are many residents in USA who make use  of bitcoin. US have never banned the use of cryptocurrencies but there are strict regulations that exist in some states in the United States Of America where the use of cryptocurrencies and essentially  bitcoin is regulated by law especially when it comes to how bitcoin are traded.
sr. member
Activity: 2142
Merit: 424
I didn't hear a thing about US banning cryptocurrencies. It is not a true information. Instead, we can say that US has not been much a fan of cryptocurrency industry. After this event, Bitcoin doesn't seem to be much affected.
full member
Activity: 658
Merit: 100
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

Yes! I think this news will have a positive impact on the price of Bitcoin at the moment, and it will also slightly increase the price of allcoins.
legendary
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There is trouble abrewing
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?

What in the wild hell gave you the idea that the US banned crypto? That's the craziest thing I've heard, our government has come out and said they are working with exchanges to make sure that they limit illegal use but that just shows they're seeing this as a here to stay thing.

most probably it is like everything else and the reason is simple: FUD.
throughout the past couple of weeks that they have been trying to manipulate the price and were trying so hard to push it below $10k once again, all kinds of crazy things were being heard all over the internet about bitcoin. US banning bitcoin FUD is not surprising really!
legendary
Activity: 2912
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I don't think that will influence the Bitcoin price in any way.
It's only about the registration of company and Binance isn't such big exchange that could influence the price changes.
The reason for such decision of Binance is probably just regulation and legal framework demands so there is no reason to look for some secret meaning.
legendary
Activity: 2338
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Heisenberg
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?
Just like it did not affect the price of crypto when ban on US citizens came into effect. I don't think opening a new branch for US resident will bring in any effect too.

I am also pretty sure the new platform for US residents will also be having only assets that are legal and licensed to be traded by the US citizens so i am guessing the trade pairs won't be so much
member
Activity: 1204
Merit: 38
The U.S never banned crypto. Binance had to block US residents from accessing their site because they didn't have any license to operate there.

Oh I see, my mistakes thanks anyway for correcting me sir for this. Meaning, all US residence are now free to register on binance platform.
So this is a great news to all people out there who are bitcoin and crypto believers, am I right?
Binance is going to launch separate trading platform for the US citizen alone,so when it was launched people from US also can trade but I don't think it is not going to increase the adoption of bitcoin.

Bitcoin is already legal in US and they consider it as an asset and have taxation system for it as well.
hero member
Activity: 2800
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at the end of the day Binance is still an altcoin exchange so no, nobody should ever care about what it does or doesn't do. the same way that the bitcoin market didn't really care when Binance was hacked and lost a lot of its users funds recently. it instead started rising despite of that and it will continue rising with or without Binance!

Didn't they refund the money lost from that hacked?

It might not matter if its only an altcoin though like there is no stablecoin in it but it wouldn't make sense if they open the exchange with just it. They go all the troubles opening branches from Malta down there in US. I really think this will kick the price up once the market will soon open.
newbie
Activity: 138
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at least we can expect more investors which would help make price of bitcoin better
legendary
Activity: 1946
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The U.S never banned crypto. Binance had to block US residents from accessing their site because they didn't have any license to operate there.

Oh I see, my mistakes thanks anyway for correcting me sir for this. Meaning, all US residence are now free to register on binance platform.
So this is a great news to all people out there who are bitcoin and crypto believers, am I right?

maybe, but not that big a deal. there still is other similar options that the altcoin traders use. Binance is not really that great as you may think. they are just big, otherwise there isn't any difference between Binance, Bittrex, Cryptsy, MtGox, Poloniex,... they are all here to make the most amount of money as they can by doing the least amount of work. and they are all bad and insecure.
sr. member
Activity: 777
Merit: 251
The U.S never banned crypto. Binance had to block US residents from accessing their site because they didn't have any license to operate there.

Oh I see, my mistakes thanks anyway for correcting me sir for this. Meaning, all US residence are now free to register on binance platform.
So this is a great news to all people out there who are bitcoin and crypto believers, am I right?
hero member
Activity: 2268
Merit: 588
You own the pen
Not much affection to the market but might be useful for other traders.
At least if they want to trade at low volumes they can go there without worrying about anything.
since their need to pass their identity to be able to trade there, it is much better if they trade on Dex using TOR.
hero member
Activity: 1470
Merit: 655
at the end of the day Binance is still an altcoin exchange so no, nobody should ever care about what it does or doesn't do. the same way that the bitcoin market didn't really care when Binance was hacked and lost a lot of its users funds recently. it instead started rising despite of that and it will continue rising with or without Binance!
sr. member
Activity: 1050
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I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?


Binance.us offers only a few coins to the US market and they need you to give your social security number for trading with them. Most users wouldn't be ready to give their social security number for trading in Binance when you can always access DEXs using Tor. So, I don't think it will affect the market much.

staff
Activity: 3500
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The U.S never banned crypto. Binance had to block US residents from accessing their site because they didn't have any license to operate there.
sr. member
Activity: 777
Merit: 251
I read in some articles that binance now operate in US https://bravenewcoin.com/insights/binance-u-s-opens-account-registrations,
I thought US banned crypto, why all of a sudden they've adopted the system of crypto like Binance? Do you think, this will affect the market of bitcoin and crypto could be increase now?
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