Topic: Why would you change from BINANCE? (Read 128 times)
I am a small trader. I enjoyed the binance exchange. I like it because the interface is easy to use. the charge is very cheap. half of the other exchanges. For security, it's the world's leading. Verification issues are easy. Not as difficult as bittrex and other exchanges. That is why people love to use binance and binance has become the number one exchange in the world
Binance is now one of the fastest growing cryptocurrency exchange and some are labeling this as the Bittrex killer though I don't the basis for such a claim.
Binance has indeed been growing rapidly, but it's a bit too fast in my opinion, especially because of the fact that they aren't used to such large volumes of trades and usage. Everything is all fine when things are running smoothly, but what if Binance is going through difficult times at whatever point in time? If we look at the past, exchanges having grown rapidly in a similar fashion, where the best examples are Poloniex and Bittrex, have all turned out to be quite incompetent when it comes to operating an exchange in an appropriate manner. People switched from Poloniex to Bittrex due to the problems, but now at Bittrex they face the exact same annoyances. I don't think Binance will be exempt from similar problems later on. That's why I prefer to keep using exchanges with a proven and reputable track record. Bitstamp is my main exchange, and will stay that (I hope) for ever.Maybe because these exchanges never expected so much crowd to their site and it all happened so fast in last few months so many people want to invest suddenly in crypto markets so all these exchanges need to upgrade their infrastructure to support so many people.
So far I didn't use this Binance exchange because I didn't face any issues in Bittrex. But now want to try as a backup plan. Want to check whether Binance will also restrict our withdrawals if we don't verify our account similar to Bittrex?
Binance is now one of the fastest growing cryptocurrency exchange and some are labeling this as the Bittrex killer though I don't the basis for such a claim.
Binance has indeed been growing rapidly, but it's a bit too fast in my opinion, especially because of the fact that they aren't used to such large volumes of trades and usage. Everything is all fine when things are running smoothly, but what if Binance is going through difficult times at whatever point in time? If we look at the past, exchanges having grown rapidly in a similar fashion, where the best examples are Poloniex and Bittrex, have all turned out to be quite incompetent when it comes to operating an exchange in an appropriate manner. People switched from Poloniex to Bittrex due to the problems, but now at Bittrex they face the exact same annoyances. I don't think Binance will be exempt from similar problems later on. That's why I prefer to keep using exchanges with a proven and reputable track record. Bitstamp is my main exchange, and will stay that (I hope) for ever. 
Binance is now one of the fastest growing cryptocurrency exchange and some are labeling this as the Bittrex killer though I don't the basis for such a claim. I am also using Binance from time to time and I am so satisfied with its service especially for a newbie like me. Of course, there is no perfect anything and Binance is not perfect so am not heavily relying on just one exchange for my trade. When it comes to money, we always have to our fears as part of thinking in advance. I could only hope that Binance will keep on improving and that any bad scenario with Binance will never really happen.
I like this exchange, but I do not keep my coins there, but I enter them there at the last moment, when the coin grows. Practically with all stock exchanges I try to do so. This exchange has a very responsive interface and I would like to see a version not only for the browser, but also for the client for the PC
Well Binance is pretty good for me.
If you are complaining about fee. Maybe you can buy at BNB paired market because they have a discount on it.
But if you are willing to pay less fee, try to join CobinHood. That's a zero fee exchange if I'm not wrong.
If you are complaining about fee. Maybe you can buy at BNB paired market because they have a discount on it.
But if you are willing to pay less fee, try to join CobinHood. That's a zero fee exchange if I'm not wrong.
Just took a look at CobinHood, indeed no fees which I find odd, but who's running it and where?
Also, their volume is superbly low
Well Binance is pretty good for me.
If you are complaining about fee. Maybe you can buy at BNB paired market because they have a discount on it.
But if you are willing to pay less fee, try to join CobinHood. That's a zero fee exchange if I'm not wrong.
If you are complaining about fee. Maybe you can buy at BNB paired market because they have a discount on it.
But if you are willing to pay less fee, try to join CobinHood. That's a zero fee exchange if I'm not wrong.
Hi fellow traders,
I am currently mainly using Binance for my trading but not 100% happy about it. It's not regulated, it's based in a country that's definitely not well known for stability or safety and my personal pet peeve is that even though the fees are low, they stack up fast on bigger trades.
I often buy & sell eg. $20k worth of a coin and the fees are effing annoying.
If I found an exchange that offers a flat fee for trades such as Forex brokers do (eg. $5 per trade, regardless of volume) I'd switch.
What's your #1 thing you'd like to see in an exchange that you currently use, that is lacking?
Perhaps we can give them some good ideas
Cheers!
I am currently mainly using Binance for my trading but not 100% happy about it. It's not regulated, it's based in a country that's definitely not well known for stability or safety and my personal pet peeve is that even though the fees are low, they stack up fast on bigger trades.
I often buy & sell eg. $20k worth of a coin and the fees are effing annoying.
If I found an exchange that offers a flat fee for trades such as Forex brokers do (eg. $5 per trade, regardless of volume) I'd switch.
What's your #1 thing you'd like to see in an exchange that you currently use, that is lacking?
Perhaps we can give them some good ideas
Cheers!
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