Why the hate on binance exchange - page 5.

no-ice-please

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everyone knows binance is a new force in the crypto market, and they love it. no one hates CZ or binance. everyone respects him, he is a smart and experienced person. binance was able to get big and thrive thanks to him. This centralized exchange is the best and always creates innovative breakthroughs. just look at their Dapps platform, BSC can compete with ethereum. this is a great achievement.

if because of all that binance to be hated, then those who hate only people jealous of its success.

But isn't it as with any other market that once a new force appears there will also be enemies fearing to lose their place in the industry? I said that before here, not everyone is happy if a business like Binance pops up and conquers the market. Other exchanges might try to harm Binance and I believe that could be a very plausible scenario. That happens in all kinds of industries, take Apple vs. Samsung. Since Binance is a relatively loosely regulated exchange with often times not even a KYC procedure, I believe those exchanges who are subject to KYC would like to see Binance have some trouble.

devil2man

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in fact it seems that many countries are envious of the success of binance and since they cannot earn enough (taxation? royalities?) they try to put a spoke in the wheel and prevent it from completing its activities on their territories but binance can adapt and modify it too to these new absurd regulations, binance is my favorite exchange

speedforce

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I dont know but since its biggest exchange and know people position most (short and long position), many people believe Binance have a strong position to make some manipulation on the market and liquidated many peoples.

o48o

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Quote from: TheMimic1 on July 19, 2021, 12:44:53 PM

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

If by hunting you mean governments cracking them down then the reason is quite obvious. They don't want people going for full shadow banking and hiding their taxable money. And binance operating from some undisclosed location doesn't really help their reputation in the eyes of regulator.

fullhdpixel

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Quote from: Vishnu.Reang on July 21, 2021, 11:24:46 AM

right now rumors are circulating, claiming that the FBI is planning to launch a big lawsuit against Binance. But at the same time, they have refrained from open confrontations (that was the mistake done by BTC-e/Wex.nz in 2017, by openly challenging the FBI).

I am not aware of all that is going on with binance but if they have actually preferred to keep user's privacy despite all the pressure, then mad respect to binance for doing it.

Quote from: Davian144 on July 21, 2021, 11:39:45 AM

I'm also a very active Kucoin user and have used Binance for a long time, and so far neither have had any major issues for me, so I have no doubts about these two exchanges because the exchanges will always provide the best for their users.

Not all the exchanges think like that. I have used several exchanges and I have had some really bad experiences with some, where they will block the funds and ask for KYC before I am even allowed to trade my coins, let alone withdraw. What makes me even more frustrated is that deposits are allowed during all these KYC times and blocked withdrawals.

Shallow

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Quote from: TheMimic1 on July 19, 2021, 12:44:53 PM

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

Bitcoin is the king of the crypto space, and many people still hate it or rather not finding it good enough for holding as well as investing, but has that stopped Bitcoin from growing or from getting adopted by many platforms? The answer is No, but Instead, Bitcoin keeps growing and getting more recognition.
Having this idea and moving to the crypto exchanges, Binance can be said to be the biggest exchange and as such, people will look for what to say and so on but yet it will not stop Binance from growing and providing the services they know how to do best.
In my own opinion, overlook whatever they say, overlook whatever they think and just stick to what you believe in, moreover, Binance has not given users reasons to think otherwise.
One thing is certain, people will keep saying whatever they want while the Binance CEO and team will keep working hard to stay on top.

imstillthebest

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can you post a proof if who is hating it ? because i cant seem to see it but what i saw are tons of people praising binamce .
there may be a thread here about comparing binance smart chain and eth but thay was not meant to hate the other .
people are only expressing their opinion if which network they prefer during this time and the result are mostly in binance . when it comes to exchange binance is also the most recomened and prefer by users .

Kunnu

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Spreading negative propaganda against a top ranked cryptocurrency exchange is a part of competition. As we know there are couple of cryptocurrency exchanges like Okex, huobi and coinbase which are capable enough to give though competition to binance in near future so the supporters of those exchanges always share negative thoughts about each other's exchanges I think it's normal in cryptocurrency space and this can't stop.

Teknisi88

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Quote from: TheMimic1 on July 19, 2021, 12:44:53 PM

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

It is being hunted that governments around the world are considering how to regulate the developing sector.
But what is certain is that the government is also worried that the crypto space, such as Bitcoin, has the potential to disrupt the country's financial stability due to the high inflation rate due to the Bitcoin trend.

masterrex

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Quote from: TheMimic1 on July 19, 2021, 12:44:53 PM

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

IMO, I believe that the Binance case is more on regulatory issues, And not for any other reason, Binance should comply with all of the requirements set by the regulators of that particular country because it's about the law and compliance is part of it. Binance exchange should not use an "alibis" that they are operating in a decentralized company structure because countries and governments are not buying that word called decentralization because it was opposite on behalf of their representation. so for me, it's better to comply to avoid any problems in the future.

Davian144

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It's the biggest exchange in crypto so basically there will be fud and various attacks on it I think is just a normal thing since non of their customers are complaining. Kucoin was my favorite exchange before I made a switch to binance and seriously they are doing great

That's right, I'm also a very active Kucoin user and have used Binance for a long time, and so far neither have had any major issues for me, so I have no doubts about these two exchanges because the exchanges will always provide the best for their users.

[email protected]

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everyone knows binance is a new force in the crypto market, and they love it. no one hates CZ or binance. everyone respects him, he is a smart and experienced person. binance was able to get big and thrive thanks to him. This centralized exchange is the best and always creates innovative breakthroughs. just look at their Dapps platform, BSC can compete with ethereum. this is a great achievement.

if because of all that binance to be hated, then those who hate only people jealous of its success.

I think binance has grown into such a huge platform. There are fears from other projects regarding Binance's overpowering in the crypto market.
indeed all that is in control is the market. but the platform that dominates all crypto sectors could be the reason for the market movement.
binance always delivers the innovations that the market awaits and needs. like a successful BSC. but some also don't like it. alleges related to money laundering or any other negative news. we've heard it all.

Vishnu.Reang

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I appreciate Binance for the fact that they have stood up to the authorities in order to protect the privacy of their users. They have refused unfair demands from the authorities to hand over customer data, and that has resulted in the feds targeting the exchange multiple times. And right now rumors are circulating, claiming that the FBI is planning to launch a big lawsuit against Binance. But at the same time, they have refrained from open confrontations (that was the mistake done by BTC-e/Wex.nz in 2017, by openly challenging the FBI).

Snappycoco

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There are several factors affecting this hatred. Some hate binance because of Conspiracy theories where they are trading against its own users. I heard this from one of the biggest trading channel in TG specially the Futures product of binance. It somehow true, where I tried to bought some BTC when it dropped below 30K and wasn't been able to bought some. I don't know but there's something into that exchange.

Republikcoin.com

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Nobody hates Binance. CZ is the person who managed to make the cryptocurrency market move forward and grow faster with the existence of Binance. This is evidenced that Binance is currently the number one exchange with high daily trading volume. In addition, all coins and tokens that are listed on Binance , always have a very high prestige, even Binance is the number one standard exchange destination for newly launched coins.
Everyone likes doing business with Binance, because of the very satisfying service and also the best data security, even though it is a centralized exchange.

shulc7

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Quote from: TheMimic1 on July 19, 2021, 12:44:53 PM

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

I also can’t find a tangible reason for that. For example, it also got banned in my country, although we don’t have laws that forbid cryptocurrencies. I understand why it is hunted in China. The government is just trying to fight against a very strong economic rival called cryptocurrencies. As if people use them, authorities can’t control finances. That is why they limit mining and hunt crypto exchanges. But what about other countries with more light political structure?

tvplus006

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To the Moon

Quote from: Bitcoinjheta on July 21, 2021, 12:08:27 AM

We all know Binance is 4th strongest cryptocurrency in the digital world and only reason why they have been hunted for now it is because of money and power. ...

And if we take into account the fact that in addition to the BNB coin, Binance also owns the BUSD stablecoin, then we will see that they collectively occupy a large part of the cryptocurrency market. Plus, the Binance exchange is the largest in its segment. Taken together, these facts lead to increased attention from the governments of various countries, which see this as a threat to their financial system.

QueenVera

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Quote from: TheMimic1 on July 19, 2021, 12:44:53 PM

Is there any tangible reason why binance exchange is been hunted? It seems they just hate success or what? Anyways no matter what they try CZ is a determined fellow, that's why binance made it this far, it's my best exchange and won't be changing any time soon

Cz has accomplish so many things in just a short time which makes him feel invisible. I'm very happy with the success of Binance but they deserve all that's coming to them. Binance is taking our decentralized from us and that's not a funny development. They want to control the whole industry so it'll be very easy to manipulate and make their elite investors more rich. First they conquer the exchange industry next the took over wallets and Coinmarketcap.

That's too much power for just one man/company in an industry that was created for decentralization. Already they're hijacking all other sections like Peer2peer, decentralized swapping (which isn't totally decentralized), crowdfunding, staking, Defi trends etc. They're making the industry centralized which shouldn't be welcomed.

cute nmp

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Many people hate binance exchange because of so many rules and restrictions it is currently the greatest crytocurrency exchange with an advantage that most coins listed on the binance make it to the moon so it is definitely a great place to make profits but the restrictions are not favourable to many people at all.

paxmao

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I would not say hate really, binance like any other business that sells to the general public will have some detractors and some people who like it. Personally, I used binance many times and it worked quickly and without any issues. However, it was ridiculously expensive and it is not even close to being my favourite. I also dislike Coinbase... to large to complex and more oriented towards business now that is trying that strategy with funds, cryptocustody, etc... and loosing focus on their primary clients.

Topic: Why the hate on binance exchange - page 5. (Read 1117 times)