The answer is simple. When the most popular exchanges started demanding for KYC/AML from their users, it was Binance who took advantage and didnt require it to anyone who signed up to their exchange.
They also took advantage of the banning situation in China by allowing Chinese people to sign up.
Topic: How Binance Conquered The Cryptocurrency World ? (Read 304 times)
When government starts to make its own move-lets say majority of them would have the same laws when it comes to these exchangers then no doubt most of them would really be wiped out and those exchangers
would mostly survived are the ones who do comply with their rules. Just thinking if Binance would still exist on the ground if they would decide to retain on their current position when it comes to legal means.?
would mostly survived are the ones who do comply with their rules. Just thinking if Binance would still exist on the ground if they would decide to retain on their current position when it comes to legal means.?
It highly depends on how active governments are when it comes to respecting their own laws. Binance has so many coins listed that for sure will be labelled as security in the coming year or two, that it would require them to register and obtain the appropriate licenses in each country they operate in. Considering that they chickened out when Japan started to chase after them, they will likely do the same again.
I don't really get it, why can't the wealthiest and most popular crypto related entity in the exchange space not just try to obtain these registrations and licenses? Money is definitely not the problem. It could be that there is some shady shit going on in the background they don't want to expose.
The most important reason is to not care about regulations within each jurisdiction they operate in. What Binance does is basically the same as what a squatter does, they jump in without permission and leave once they are forced to leave. It works in the very short term, but with such a core business as exchange your existence is more than fragile; we have seen what Binance did after Japan woke up and didn't tolerate that shit.
I'm definitely inpressed with how Binance managed to grow like that, but imagine what happens with Binance if more governments start waking up. It actually surprises me that governments haven't been more active in enforcing their own rules. With some effort they could whoop at least 50% (very conservatively put) of all the exchanges in existence, because they operate on illegal ground.
When government starts to make its own move-lets say majority of them would have the same laws when it comes to these exchangers then no doubt most of them would really be wiped out and those exchangers I'm definitely inpressed with how Binance managed to grow like that, but imagine what happens with Binance if more governments start waking up. It actually surprises me that governments haven't been more active in enforcing their own rules. With some effort they could whoop at least 50% (very conservatively put) of all the exchanges in existence, because they operate on illegal ground.
would mostly survived are the ones who do comply with their rules. Just thinking if Binance would still exist on the ground if they would decide to retain on their current position when it comes to legal means.?
If binance can migrate completely to DEX with all the fame it has already acquired it should stay ahead of the game!!
That would be a mistake. It would be smarter to do what Ethfinex is doing -- a "hybrid" decentralized exchange where they also offer centralized custody and trading engine, which is much faster and easily enables bot trading.
I think it'll be many years (if ever) before decentralized exchanges can compete with centralized ones -- at least for day traders, market makers, arbitragers, etc. These types of market participants need highly liquid markets that operate in real-time.
Low fee is the key here. Binance has a great security and very good customer support. These features made them paved the way to become what they are now.
In only two years time, they have come up with some impressive qualities. Their coin, BNB, primarily paved the way. The exchange can hold almost 20 million users. It is known to be one of few fastest exchanges to accept new coins. I think they mean business.
Binance is one of the best trading platform for cryptocurrencies. They have one best technology which can handle large amount of transactions at a time and have a great security.
Binance made its mark on the cryptocurrency world by having liquidity at high scale and proper security. They also have very good customer support.
I find it a little surprising how fast biance makes a big anme in the exchnage bussines o0
Also as many here says the have now real big volumes in very short time.
regards
Also as many here says the have now real big volumes in very short time.
regards
The most important reason is to not care about regulations within each jurisdiction they operate in. What Binance does is basically the same as what a squatter does, they jump in without permission and leave once they are forced to leave. It works in the very short term, but with such a core business as exchange your existence is more than fragile; we have seen what Binance did after Japan woke up and didn't tolerate that shit.
I'm definitely inpressed with how Binance managed to grow like that, but imagine what happens with Binance if more governments start waking up. It actually surprises me that governments haven't been more active in enforcing their own rules. With some effort they could whoop at least 50% (very conservatively put) of all the exchanges in existence, because they operate on illegal ground.
I'm definitely inpressed with how Binance managed to grow like that, but imagine what happens with Binance if more governments start waking up. It actually surprises me that governments haven't been more active in enforcing their own rules. With some effort they could whoop at least 50% (very conservatively put) of all the exchanges in existence, because they operate on illegal ground.
What's your opinion on how binance conquered the Cryptocurrency world? 
Not actually conquered but they do able to gain the top tier ranking when it comes to exchangers but just to say that each exchange would really have the chance to get the spot when they do offer better service among any other exchange (UI,Support, Security, Fees) These are things that most people do always check out and if they do saw that it do suits out their needs
then the hype and popularity would build up.Look into previous years how Poloniex,Bittrex, Bitfinex are on the top spots.
There are some factors combined led to this.
- HYPE, HYPE and they actually had what it take to support that HYPE, Kucoin had almost the same HYPE but they failed to achieve anything comparing to
Binance.
- Low fee's and a strong economy behind it( their local TOken BNB).
- They were lucky because at some point some of the top exchanges had big problems, for example, Bittrex moving to a new UI which was not
comfortable for a lot of their userbase.
- lastly, strong team and support behind all this because with bad team nothing of this would have helped.
- HYPE, HYPE and they actually had what it take to support that HYPE, Kucoin had almost the same HYPE but they failed to achieve anything comparing to
Binance.
- Low fee's and a strong economy behind it( their local TOken BNB).
- They were lucky because at some point some of the top exchanges had big problems, for example, Bittrex moving to a new UI which was not
comfortable for a lot of their userbase.
- lastly, strong team and support behind all this because with bad team nothing of this would have helped.
Not such domination cause others would stilll exist without binance.
What's your opinion on how binance conquered the Cryptocurrency world?
We've seen this before at Poloniex. Then in Bittrex ... there will be others. It's not the only platform, Binance. Still, they managed this bad situation well.
New listing fee policy announced by CEO of Binance. This is in reaction to the "Expense" project which had to pay 400 btc to be listed...
Binance leaves the listing fees free according to the quality of the project.... It will be the same, Binance will be free to refuse if the price is not high enough....
Binance leaves the listing fees free according to the quality of the project.... It will be the same, Binance will be free to refuse if the price is not high enough....
Binance took an idea from bitfinex and succeeded in taking the market too, binance's success was made possible by the "Bull" of 2017, I remember when the lunched last september, with a bad trading interface that froze on every browser, with no app! language was all in chinese! and coming at a time when exchanges were still few, utilizing the idea of "Exchange token" which I know they got from bitfinex's "Recovery Right Token; RRT" Made to compensate those who lost in the hack that befell bitfinex, Binance lunched an equity for its investors, and the bull ramped that token's price up, its success however has seen exchanges springing up in seconds! The Geniune exchanges however need another bull to see their own tokens, succeed too!! There are more exchanges with a better idea than binance but can't do otherwise because of the current state of the crypto market!! If binance can migrate completely to DEX with all the fame it has already acquired it should stay ahead of the game!!
What's your opinion on how binance conquered the Cryptocurrency world?
Low fees is their secret I think because when compared to other exchanges here the fee is low and also some of the bigger exchanges had hacked at the time BInance grooming so people think that they have better security when compared to other so the binance going unstoppable in this very short term. I dont think the fees is the factor which helped it grow so big. To be honest there are many exchangers out there with the same strategy as the Binance where they also offer you the discounts and perks for the holding of their ICO coins. Similar thing happened with the many ICO's but how many of them came up and used by the community ? I guess very very tiny portion. Binance is having better user interface than other crypto exchangers and thats what made it very very special in the first place. I guess if BNB would have been the typical one then there would have been no growth to it and its volume to the level which it did today.
May be the founder is secret himself who knows how to drive the bullet here.
The exchange won the market because of the excellent team of developers and good marketing, I do not understand why she announced the delisting of Bytecoin.
binance is one of my fovorit exchanges. because it has a low fee and has a large volume and most importantly has a good security. I think binance is the best crytocurenncy exchange at the moment
What's your opinion on how binance conquered the Cryptocurrency world?
Personally, I really like them.
They don't have high fees, have a lot coins available, very good customer support and protection etc.
I don't want to register at to many exchanges so BInance is no 1 choice really.
Binance actually removed their fee for listing. Plus all the positive things that have been said here (security, etc). I think binance conquered the cryptocurrency world with great consideration with the understanding that crypto is still a baby and someone needs to take care of it.
Not actually conquered but they actually made a way for them to be noticed and be used by many people. That's how binance did to crypto world. And I think that its because of their good service and nice security and it was broadcast to all of us well.
Binance is the best exchange place for now and the volume is also very high so that many who also use binance are even very low and the security level is very guaranteed, if we want to make a safe investment then Binance is the place.
Binance is the best crypto trading platform. First reason is their low withdrawal fee and awesome software. They are providing more security and gain the trust of traders. Another reason is huge volume which encourage traders to trade in Binance .
What's your opinion on how binance conquered the Cryptocurrency world?
Low fees is their secret I think because when compared to other exchanges here the fee is low and also some of the bigger exchanges had hacked at the time BInance grooming so people think that they have better security when compared to other so the binance going unstoppable in this very short term.
The product, they set up a platform which can support large volume and offer easy liquidity at a high scale.
The team also paid special attention to the custom token (BNB), and their periodic buy back has had positive effects on the price.
They have also shown foresight, after proposing moving to the decentralized field, which is where exchanges are heading.
The team also paid special attention to the custom token (BNB), and their periodic buy back has had positive effects on the price.
They have also shown foresight, after proposing moving to the decentralized field, which is where exchanges are heading.
What's your opinion on how binance conquered the Cryptocurrency world?
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