Seventh anniversary of Binance

[Charles-Tim]

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.

[dkbit98]

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 
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.
Everyone suddenly forgot about several hacks and leaks that involved binance exchange, or how they faked everything with monero price and withdrawals.

[Rikafip]

And they charged good fees for that service 

And 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. 

[Baofeng]

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.

I guess we really didn't anticipate that Binance will be this huge though, in their modest beginning, there are some established exchange already. But I wasn't able to follow what CZ did to make Binance this big.

However, we all know that if someone grow a big as this company, sooner or later government are going to come after them. So it's a question on how thtey are going to stay at the top in the next 7 years.

[Freemind]

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.

That's the problem. They give people what they want, but not what they need. The ease of buying and selling cryptocurrencies quickly and easily, in exchange for my privacy, does not seem like a fair deal to me, but I understand that other users (almost all) do not value things the same as I do. 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.

As I said in my previous post, when Binance (or any other exchange with large volumes) talks about decentralization, all I can do is laugh.

[Rikafip]

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.

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.

[Manna]

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.

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.

[Freemind]

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.

You're right, but it's sad that it's like that. From my point of view, I would rather spend an amount of time (even a considerable amount of time) learning how to compare and use decentralized exchanges, rather than simply clicking a few buttons to provide my personal information to an exchange which says it will protect my data, but we already know how these things are.

I have never liked to settle for the first thing I have seen, that is why I have always preferred to search and search until I find something that suits me. But as you say, for most users the most important thing is comfort.

[bayu7adi]

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.

In my opinion, this is the impact of the unpreparedness of a decentralized system in terms of exchanges so that many people prefer centralized exchanges to store and exchange their assets... Binance has succeeded in maximizing this potential.

[TomPluz]

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.

[KryptoBull]

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!

Later, Binance became the world's largest CEX, but I feared that BNB's price had already skyrocketed, so I again hesitated to buy BNB. That was another mistake of mine. Two mistakes were enough to prevent me from becoming a millionaire.

Nevertheless, I'm still using Binance and enjoying the many benefits it offers. Congratulations to Binance for serving the needs of hundreds of millions of crypto investors over the past 7 years. I hope Binance will continue to maintain its position as the top CEX in this market!