From 2018 to 2020 Binance was perfect, large withdrawal limits without KYC, high liquidity and constant updates, and at that time exchange tokens were a new thing, there was no staking and profits came from trading and listing, Binance was listing good projects that seemed to make profits and attract more users. I stopped using them once identity verification was mandatory but it seems that the service is still successful and widespread.
It's still amazing what they have done. They are one of the pillars of cryptocurrency exchanges.
Despite of so many circumstances, problems, amount of fines of Binance it still top all the exchange in any many aspect by fixing their problems one by one. And i applaud them for it. These number of compliance and license should be seen and followed by different exchanges (CEX), else they are still illegally operating and accepting users from those countries.I've been a loyal Binance user since its early days and I'm really happy to see it continue to exist and thrive in the crypto market, even though it's no longer leading many major trends like before when CZ was still the CEO and there were many highly effective promotional programs. I've used a few other CEXs but haven't found a platform as comfortable as Binance CEX, it seems like Binance has created an optimal interface for the average user.
~I'm sure there are others like you who left the exchange but there were more traders from traditional investments that came in when they started complying with AML policies. It might sound absurd but, in reality, there are people who didn't use Binance before because they're also cautious of its legal status.
I stopped using them once identity verification was mandatory but it seems that the service is still successful and widespread.
7 years of building what exactly?Building a tool (BNB chain) so thousands of scammers can create their cheap altcoins in order to scam people in a more efficient way. ;D
7 years of building what exactly?
I didn't see anything made by them that contributed Bitcoin code in any way, instead they spent a bunch of time creating parallel centralized ecosystem with binance chain.
Another result after 7 years of existance is that CZ their CEO end up locked in prison :P
I didn't see anything made by them that contributed Bitcoin code in any way, instead they spent a bunch of time creating parallel centralized ecosystem with binance chain.We contribute in crypto with our own ways. Binance may not develop Bitcoin codes, they also didn't help Satoshi to develop Bitcoin. However, Binance helps people to spread their awareness about crypto world. Since Binance becomes the number 1 crypto exchange in the world, more people want to join crypto by trading in Binance. They choose Binance because they think Binance is a safe place. The promotion of Binance, also attract people to join crypto. We can't deny that Binance invites more people to join crypto.
Another result after 7 years of existance is that CZ their CEO end up locked in prison :PI don't know why you look like so hate him. Has he ever done any harm to you? Despite the SEC's allegation against him, he is the founder of Binance who has made contributions to the crypto world. The accusation can be true or false, we don't know what's really happening behind the drama. When Cz decided to admit the accusation, he probably knew it was the only solution. Whether he was really wrong or not, no one really knows it. He may try to safe the reputation of Binance even though he had to accept sanction to be imprisoned.
Your view of Binance is very funny, even though Binance actually doesn't want that to happen, it goes back to the individual, if it's dirty, it's dirty, and they deliberately do it on the BSC network, before there was BSC on ETH there were also many crypto fraudsters,7 years of building what exactly?Building a tool (BNB chain) so thousands of scammers can create their cheap altcoins in order to scam people in a more efficient way. ;D
Building a tool (BNB chain) so thousands of scammers can create their cheap altcoins in order to scam people in a more efficient way. ;DThey first wanted to get bitcoin from other people and replace it with their worthless tokens, and all with claims that you can use that with cheaper fees.
Binance changed everything here. I would say bitcoin changed crypto ecosystem offering high quality services for very low fees.They changed everything in negative way and contributed to full centralization of everything.
They changed everything in negative way and contributed to full centralization of everything.They are just giving what people want, and that's to buy and sell as easy as possible. As simple as that.
Although I do not like Binance, it represents a success story for a crypto exchange project that is able to influence altcoins and introduce Bitcoin and cryptocurrencies globally. The success of the platform has made it attractive to the public, and almost the largest database of cryptocurrency users are Binance users.Do not mind this my post. I only see Binance as a business that its share holders are significantly making money from people that registered on the exchange. Bitcoin does not need them but they needed bitcoin to earn more money. Even I think bitcoin is the most traded coin on the exchange. If not for bitcoin, Binance may not have the users it is having today.
They are just giving what people want, and that's to buy and sell as easy as possible. As simple as that.And they charged good fees for that service :P
And they charged good fees for that service :PAnd people are willing to pay for that service. Capitalism.
There are other exchanges that work much easier and simpler than Binance, and they are not collecting and selling personal information from customers like binance did.Tbh, its safe to assume that all centralized exchanges are doing the same thing.
Everyone suddenly forgot about several hacks and leaks that involved binance exchange, or how they faked everything with monero price and withdrawals.I heard from many people that they would use FTX if got restarted, which tells you everything that you have to know. ;)
Although I do not like Binance, it represents a success story for a crypto exchange project that is able to influence altcoins and introduce Bitcoin and cryptocurrencies globally. The success of the platform has made it attractive to the public, and almost the largest database of cryptocurrency users are Binance users.Do not mind this my post. I only see Binance as a business that its share holders are significantly making money from people that registered on the exchange. Bitcoin does not need them but they needed bitcoin to earn more money. Even I think bitcoin is the most traded coin on the exchange. If not for bitcoin, Binance may not have the users it is having today.
They are just giving what people want, and that's to buy and sell as easy as possible. As simple as that.
Those who actuallly care about decentralization and everything that bitcoin stands for will always be in a minority while for others bitcoin and crypto in general is just a tool to get more fiat.
The irony of this is that using decentralized exchanges is not difficult at all, and that is something that improves not only our privacy, but also our knowledge.It may not be complicated for those like you and me who have been in crypto for many years, but I can see complete newbies struggling to buy bitcoin through decentralized exchanges like Bisq, which aren't very user friendly.
They want to promote their apps to the common people in a very simple way so that everyone can understand the things well. And Binance exchange is number one among all the exchanges in the fierce currency markets. One of the reasons is that their settings are very simple and very easy to understand. You can buy and sell quickly from there. That's why people like it more and people like it so much. is using Now you can do all types of coins during the day without any hassle.They changed everything in negative way and contributed to full centralization of everything.They are just giving what people want, and that's to buy and sell as easy as possible. As simple as that.
Those who actuallly care about decentralization and everything that bitcoin stands for will always be in a minority while for others bitcoin and crypto in general is just a tool to get more fiat.
It may not be complicated for those like you and me who have been in crypto for many years, but I can see complete newbies struggling to buy bitcoin through decentralized exchanges like Bisq, which aren't very user friendly.
People will always choose ease of use and a false sense of security over anything else. For that reason, centralized exchanges will remain popular, despite so many people losing money while using them. At least until someone makes it incredibly easy to buy bitcoin in a safe and decentralized way (unless there is already a solution that I’m unaware of).
In other news, I read that Binance is again available in India.
They want to promote their apps to the common people in a very simple way so that everyone can understand the things well. And Binance exchange is number one among all the exchanges in the fierce currency markets. One of the reasons is that their settings are very simple and very easy to understand. You can buy and sell quickly from there. That's why people like it more and people like it so much. is using Now you can do all types of coins during the day without any hassle.Or rather, they are exploiting the complexity of cryptocurrency trading by making it easier and more user-friendly so they can make more money over and over again... Binance is trying to be a platform that is loved by many, and unfortunately they are at odds with the concept of decentralization that Bitcoin and most cryptocurrencies advocate... yes that's right, adherents of a decentralized system are considered a minority by the Binance cult.
It's amazing what an institution can do, knowing that it's only been around for seven years and has already grown that much. A lot of people have become dependent on it, but maintaining its compliance would help retain them. It's still amazing what they have done. They are one of the pillars of cryptocurrency exchanges.
Whether we like Binance or not and whether we are one of the 200 million users worldwide or not, there is no question that Binance is a big success story and it got into the top in just seven years. This speaks well of the expanding interest of the people in the cryptocurrency market and Binance happened to be at the right time and at the right place. Binance is not perfect and since it is CEX it has no choice but to work with the government otherwise it would be so hard to continue doing business if the government can be against you. People who hate KYC should not be using Binance since it is now a requirement at a certain level. As Binance is now gearing up things for the next 7 years and more, I am expecting a lot from this exchange and hope it can continue its dominance in the market. And expecting it to be able to comply with the country I am in and be back doing business for good.I still remember when Binance conducted its ICO, and I declined to buy BNB at 1 BNB = 0.15 USD because I wasn't fond of crypto projects originating from China. That was a huge mistake in the crypto market!