Seventh anniversary of Binance

[NikeFit_7777]

On the eve of Binance's seventh anniversary, the cryptocurrency exchange's CEO Richard Teng shared statistics and plans. In his opinion, such a long period of existence on the market has made the company a "hardened veteran".

The number of users of the trading platform has exceeded 200 million, and the record number of requests per second reached 2.58 million.

"In our seventh year, our focus on compliance, already very substantial, has become even stronger. We now have licenses in 18 jurisdictions - more than any other centralized crypto exchange," Teng stressed.

[hugeblack]

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.

[Crwth]

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.

[hugeblack]

It's still amazing what they have done. They are one of the pillars of cryptocurrency exchanges.

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.

[PX-Z]

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.

[MrSpasybo]

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.

Currently, Binance's importance in the crypto market is probably as great as Tether's. I hope that Binance will remain OK so as not to create a black swan event in this market, and continue to attract and serve many new investors in the bullrun. Although DeFi has developed a lot, retail investors often come to CEXs to easily buy and sell crypto, and Binance is usually one of their top choices.

[dkbit98]

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 

[Zed0X]

~
I stopped using them once identity verification was mandatory but it seems that the service is still successful and widespread.

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.

[Rikafip]

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. 

[Freemind]

Binance has always seemed to me to be a great marketing product within the industry, but nothing more, considering that there has always been a lot of talk about decentralization having the enemy in its own house, and I mean the centralization of its products. Their exchange does nothing special or anything that stands out from what we can find in other exchanges that, although they do not have the same millions of users, have nothing to envy of the giant.

I think what they really mean is 7 years building Binance Smart Chain thanks to the Ethereum source code.

[bitmover]

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 

I think they contributed a lot to the ecossystem.

Binance is a very high quality and secure cryptocurrency exchange. They did what they could to protect users privacy for many years. Until 2021, you could withdrawal about 2 BTC per day without any KYC.

Before binance coming to Brazil, buying bitcoin here was a terrible experience.

Local Exchanges had a very low quality and very expensive.
If you send some money to buy bitcoin and then withdrawal to your wallet, you would instantly lose 10% in fees. Bitcoin was also 10% more expensive in Brazil.

I had waited for more than a week to see a deposit of about 5k USD being credited to my account in a local exchange.

Binance changed everything here.  I would say bitcoin changed crypto ecosystem offering high quality services for very low fees.

[debra]

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 

I 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.

[MUGNIA]

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. 

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,

[dkbit98]

Building a tool (BNB chain) so thousands of scammers can create their cheap altcoins in order to scam people in a more efficient way. 

They 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.
Everyone could also make worthless token on ethereum chain, and CZ only cloned that and made it fully centralized.
In short they are a typical knock-off from China 

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.

[Rikafip]

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.