There are many reasons for the success of Binance as mentioned by guys
Such as low fees, speed of service, etc. But
In general, the success of any project depends on the minds behind it
Binance team are considered to be pioneers in the field of exchanges
that is why their exchange platform with this success.
Topic: How Binance became world’s largest cryptocurrency exchange - page 2. (Read 582 times)
IMO, I think binance become the best exchange at the moment because its high trading volume and seem like almost new cryptocurrency which gonna be listed on Binance always have very good future then it make Binance become a hot exchange like a hot trend for all new cryptocurrency.
I think Binance is the best exchange out there (at least crypto to crypto). They have very good UX, works fast and the volume is good. I really like what they did with the Binance Coin.
It is very strange how it happened so quickly, and this is a very interesting topic to study, in my opinion, just a very high-quality project at the right time was in the right place, with sufficient investment in advertising.
Binance became world largest cryptocurrency exchange because the developers of the exchange took time to study the lapses of all the centralized exchange before binance and they were able to improve on those lapses.
BNB is one of the reasons why Binance became the world's largest cryptocurrency exchange. They found a good use case for their coin. They are lucky due to December 2017 Bull run. They became famous at that time.
I think is not only because BNB but also because the services and trading features they have offered are very good and different from the others even some exchanges began to imitate some of the trading features and ecosystems of their tokens
I'm not surprised the founder has been active for a long time in the world of well business since joining the OKcoin founder more and more opportunities,the founder also has a lot of mature relationships and innovations that have several plans to advance crypto so that people trust the exchange.
The people developed a strong trust with this exchange, due to their fast and secured transactions. I myself had a great exchange with their end and didn't encounter any problems in terms of trading safety, so that makes sense at all. All of those innovative ideas the came up had been gathered a lot of good feedbacks from all traders, which litterally result to good outcome.
Many people will counter this, but it's a fact. Binance deserves it, been following them from day one. Initially I was a hardcore Bittrex fan, but some regulations twisted things up. Difficulty in passing KYC, You can't withdraw without KYC and stuff. I loved their Stop loss function until Binance embedded that, and I was like wow Binance means business. Their app is great, and they always update. Using BNB for trading fees of which they were among the first to initiate the feature, aided too. Initially you get 50% discount on trading fees for holding BNB, they slashed to 25% with time. In essence, what I'm trying to say is this, Binance didn't get to its current position by chance or luck, CzBinance and his team really worked hard. I'm not saying Binance has the best functions out there, some features like margin trading, troll box etc are absent but at least they are above 70% upright in my own opinion.
BNB is one of the reasons why Binance became the world's largest cryptocurrency exchange. They found a good use case for their coin. They are lucky due to December 2017 Bull run. They became famous at that time.
I'm not surprised the founder has been active for a long time in the world of well business since joining the OKcoin founder more and more opportunities,the founder also has a lot of mature relationships and innovations that have several plans to advance crypto so that people trust the exchange.
Binance became worlds largest exchange because they have an amazing team and amazing website and system. I used also trex polo bitfinex etc in 2017 but maybe you can remember these websites was looking very bad and their graphics etc was really bad. After i saw binances website and their pro trading mode and client. I realised that that is the best exchange and surely with the bullrun they became the first. But they deserved that completely. I have huge respect to CZ.
I love exchange Binance very much. Thanks to the author for the interesting article. Binance by the way do not stop there. They are now working on a new exchange
At the moment, Binance is one of the most convenient exchanges. Almost all tokens are traded on it. It has small commissions, and this exchange isn’t inferior in security levels to the others one. But the world is moving on, so it is possible that we will soon see even more interesting exchanges.
Binance is not old yet but with the help of its innovative decisions it drives itself towards the top place in cryptocurrency exchange.
https://blog.amon.tech/how-binance-became-worlds-largest-crypto-exchange/
Binance is now well known in the cryptocurrency industry. There are also many people who recognize it. I don't know if the service is in place. Whether the work attitude is in line with our requirements, but when trading on the exchange, we must ensure the security of the funds, do not put money on the exchange.
with all the fake traffic and volume I'm not sure anyone can say who is the largest exchange for REAL investors
bittrex blew their chance with reducing features and closing trades and not even showing your trade history on each coin page accept for the last week or 2
It is true that Binance has a fake traffic and fake volume? I heard about fake volumes on exchanges caused by trading bots, but I thought that this is the problem of small exchanges. bittrex blew their chance with reducing features and closing trades and not even showing your trade history on each coin page accept for the last week or 2
I prefer binance as a trading place than other exchanges other than bittrex, of course. besides that I have never experienced a problem losing altcoins or hacking.
so I recommend binance
Binance is one of the best and large exchange right now. They have a good team and have done great work in developing Binance platform. I also use Binance to trade altcoin.
Probably having the "affiliate" part helped a lot. I have checked almost everywhere and for the first months of its existence everyone was sharing their affiliate links constantly everywhere around the web. Which basically shifted the marketing responsibility from binance itself to the users, even a new user that came as someone else affiliate checked and see he can make a decent living out of finding a couple big whales tried to tell everyone about binance.
I have personally found couple people that still makes me money during this market and I was making hundreds of dollars from commission monthly during the peak times. I was selling a bot at those times and I told people I would give them a 10% discount (which I was already giving) if they became my affiliates on binance for the bot. While the bot was buying and selling constantly I was making an insane amount from the commissions. That is why affiliate network is incredibly important in any type of business.
I have personally found couple people that still makes me money during this market and I was making hundreds of dollars from commission monthly during the peak times. I was selling a bot at those times and I told people I would give them a 10% discount (which I was already giving) if they became my affiliates on binance for the bot. While the bot was buying and selling constantly I was making an insane amount from the commissions. That is why affiliate network is incredibly important in any type of business.
Yeah, Binance did 2 things right. They launched just before the bull run was hitting its peak, and gave everyone a share of their tokens as the referral bonus, which meant that everybody was promoting during the crypto hype. Then, they also prioritized the fact that even unverified users could use it with large limits - crypto is about privacy and people don't like sharing their details if they can help it. Binance moved location and jurisdiction, the best move for them in the current situation.
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The Binance exchange is well aware of some shortcomings in the market. And they closed all the shortcomings. It was very clever to create his own stock token. Thus both their own tokens gained value and people in the stock market used it as a fee. Thus, both the stock market and the user was won.
It's not an uncommon practice done by some of exchangers though. Other exchanges usually have created their own token that will benefits the user if they hold it.The same thing goes for KCS. However there's also many more exchanges that did the same exact thing but just didn't get enough attention because their small user base.
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