Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Binance => Topic started by: Domithra on January 24, 2018, 10:59:09 AM
-
Binance wasn't well known somewhere early last year. However, it has gain roots for the past few months and I fear will become the biggest exchange in no time. Binance is registering a couple of million participants every week.
-
Binance seems to be winning hands down when it comes to the popularity stakes, definitely made a mark since it launched - I guess their price reflects this.
Key points seem to be:
* Ease of use (the fact that they offer two trading options - beginner or advanced trading screen - must help with this, although personally I would recommend always using the advanced option, it doesn't take much time to get used to it and is much more visually helpful with the indicators available)
* Liquidity - volume is decent on the majority of trading pairs, unlikely to get stuck with an unrealised trade
* Security - even with the recent news, the majority of people trust Binance
* Low transaction fees, especially when using the native coin
* Reputation - as shown here, Binance has built a solid foundation and this brings new traders/investors to the exchange
Personally I like the Community Coin that they do every month, although last month's round turned into a bit of a spectacle. I presume they'll be introducing new rules for the next one regarding incentives that can be offered by the nominees for voting. The lack of fiat options is seen by some as a downside, and I can't really disagree with that, although I don't know what the legal implications are of introducing these.
Hoping to see more decentralized exchanges making waves over the coming months, have even read a rumour that Binance will be launching a decentralized version of their platform.