Bitcoin Forum

Binance is raising :After quadrupling its number of users since the beginning of the year, the second largest exchange platform of Cryptos announces the arrival of exchange pairs in euros this year.
Binance has therefore unsheathed a weight argument with the addition of the euro as currency of exchange, from 2018.

Even if the addition of the European currency is going to attract investors who want to use their euros directly, this might scare some others.
Also the introduction by binance of trading via fiduciary currencies will subject the company to a series of regulations that could discourage those who, among its current users, prefer to trade anonymously.

More info : https://www.ccn.com/binance-has-quadrupled-its-user-base-since-january-will-launch-eur-pairs/

Not sure if I'm missing something here but why would the addition of Euros scare anyone? It's a choice of the user whether or not they want to trade using euros, so I don't think those who don't want to have any issue with it. I see this change only having a positive impact for Binance, likely raising their daily trading volume from the slouch that has been evident recently.

I think this change might actually push the price of BNB up especially considering how much more you can trade for with it if euros come into play.

Well, there's nothing to be hyped or afraid for people in here. I believe that binance is a great cryptocurrency exchange and their decisions are great. There's no question for that.

After being able to serve as a direct fiat via the implementation of the Crypto / EUR trading pairs, it will make it an attractive option for investors. This would be good for future development of Binance.

It will definitely push the price of BNB up, which has been steadily increasing over the last few months despite the bear market we are in.

It is also good news for all altcoins, as it means a direct route of purchase without having to go through BTC first. The sooner altcoins decouple from bitcoin, then the sooner the market stops behaving like 1 giant coin.

That's great news that we can even trade with euros on binnacle crypto exchange. The exciting thing is that the daily volume will be also increased and binnacle has been managing all these volumes daily and they have expertise in managing the show. I would love to see even more features on binance and allow other currencies as well slowly especially the major ones.

If it will happen another exponential growth will happen in due times  Euro is a good currency, no issue if binance will add euro to their trading pair.

are you sure this wasn't a rumor? I am not sure about EUR but there was the same exact rumor about USD not so long ago which they had to come out and debunk: https://blockexplorer.com/news/fake-news-binance-says-not-adding-usd-trading-pairs/
I don't know where these silly rumors  come from though.

in any case I say it is a bad move to add fiat markets to an altcoin exchange. first of all because people aren't going to use these markets that much as the history of low volume on exchanges that do have these markets and also alt/btc market suggests.
but also it is because adding fiat has a lot of hassle for AML KYC stuff and that may turn a lot of users away from their platform because people want to trade altcoins without needing to submit their identity! specially whales that are earning a lot of money by pump and dumping altcoins.

Would it be possible for them to implement KYC only for those accounts which are depositing/trading/withdrawing fiat, and leave their current policy in place for accounts which only trade in cryptocurrencies?

what "I" think is that it should be possible because fiat only requires all that KYC AML stuff not cryptocurrencies.
but from what I have seen so far, when exchanges are planning to add fiat markets they ask all their users to submit their documents and verify their accounts. possibly because the regulation officers don't care about what the users are doing, only that they are users of this platform and need to obey the KYC laws.

Binance is a lot of investors believe and use in the past. I think they have a great team and every day they develop and build Binance exchanges which are better

Binance always take some different decision towards the market. And I think this is one of their great ones. Through the implementation they are setping towards the investors and I think investors will also move towards them for early investment.

I generally can not understand the advantage of the appearance of a pair of CRYPTO / EURO? I have been trading for a little over a year and I have not experienced problems with withdrawal of money, you can withdraw BTC on advcash.com and there they are automatically converted into $, with no commissions for withdrawal.

I think it will be a great opportunity for the investors who want to invest direct through euro. It will make the investors more interested to be in crypto industry. And binance is really great platform for the support to their customers.

A welcome note from Binance. This will lead to greater variety, easier to trade in tokens. It may also be to reduce the impact of Bitcoin.

Cryptocurrency is very popular in Europe! Many Europeans invest in cryptocurrencies!
Binance now establishes its headquarters in Malta and carries out EURO transactions to expand its business in Europe!

I don't expect it to have any negative impact on bitcoin rather it will create a means that cryptos will further emerge as a popular option and competing currency to fiat.

Consequently, the best that will happen is that, we could have a high value coins in the move but this won't affect bitcoin. Nice news from nuance.

do you have a reliable source for this one? Thanks

Difficult to say in advance if the flow of incoming users will be greater than the outgoing stream, but one thing is sure on the other hand: Binance is constantly evolving to try to seize the coveted position of trading platform No. 1 of the World of Crypto.

Binance recently added the TrueUSD (TUSD) to its offer, in addition to the Tether USDT, but this does not seem to be enough for the rapidly expanding exchange.

Interesting but not surprising as Binance had already let know of its intentions to base their business in Malta. But isn't Malta a member state of the European Union? So, I think there will be some trouble with the EU officials, but hope they will be able to sort this out.

This will be good. EUR is the second most used fiat currency by cryptocurrency.
As expected of binance, it is the no 1 international cryptocurrency exchange. i am using binance for long time and it is good.

Wow, that is really big if true! I remember the founder of Binance saying they won't be adding fiat pairs anytime soon so I'm a bit sceptical about this.

Having EURO pair will be good in most case.
Do you think they will not require us to submit documents like passports and drivers license?

The time bittrex did this mandatory submission of ID, they lost a lot of users. I think I only register in binance and not submit anything to it and yet I'm allowed to make transactions.

Since banks are involved, they will most likely want KYC documents prior to FIAT deposits and withdrawals. Another question is whether they would support all countries or be like Coinbase and support only a handful of countries.

It will make it an attractive alternative for investors. It will be good for future development Binance I believe that Binance exchanges a great cryptocurrency and their decision is right and great.

According to the news article by Bloomberg, the trading pair of EURO will be added before the end of this year. As we know that that te Binance is now based in Malta. The CEO of Binance Zhao Cangpeng reported the plan is in underway to have other fiat currencies trading against cryptocurrencies as well.
You can also read the full report on this news here https://cryptorecorder.com/2018/06/12/binance-continues-to-set-the-pace-crypto-to-euro-trading-pairs-are-coming-soon/

This is a good welcome development for allowing users to do trading with crypto/euro is a welcome development, what i say is that hope their system is build and strong enough to stop scammers and hackers not to do fake trade or scam people after they have payed to the trader account.