Bitcoin Forum

Nevermind Bitcoin Price Drop – Binance on Track to See $1 Billion Profit

Details:
https://cryptotown.io/news/nevermind-bitcoin-price-drop-binance-on-track-to-see-1-billion-profit-bitcoinist/index.html

More good news for BNB holders, as Binance will continue to spend a portion of their profits to buyback and burn some of their tokens.

That's why I even dreaming on making my own exchange and create a new shitcoin that can be traded with any coins which listed on my exchange, also burning them on every quarter so my users will buy more of my shitcoin. :-*

No doubt. It's a shocking amount of profit. There were a considerable number of other crypto exchanges before Binance's birth. But they couldn't exploit this crypto exchange business.
I think they acquired most of traders from their affiliate program as they gave 50% commission to the affiliates and it worked really well for them.

I wouldn't call it exploitation. Binance have showed their professionalism time and time again. Their customer service and communication with the community when something goes wrong is second to none. Just compare them to the likes of Coinbase, and it is easy to see why they are the number one exchange in the world right now.

Indeed, very lucky BNB Holders and those who bought when it was still low. Binance is the most popular exchange right now, with huge volume being traded daily its  very attainable to gain $1 Billion dollars worth of profit. Its good to have a buyback,it will further push the BNB price.

Price of Bitcoin varies differently. It do not have any connection with the internal stability of any country. People who founded Bitcoin are free to change rates or prices of Bitcoin. So it is up to them when and why they drops the price of Bitcoin.

I do think Binance deserves the profit because of their efforts. By far, this is best exchange I have traded in. I hope Binance can keep up to the standard and become better in the future.

No doubt bitcoin is that much profitable that one can’t even dream off and obviously it has made a tremendous progress since the year it was introduced but still there is something lacking in the bitcoin, look I have something to share with you, I bought some bitcoin and till now I am holding them and still not getting any profit, so I just want to know, what could we do with the overall profit if personally I am getting no profit from the bitcoin.

maybe it is time that you start actually reading the stuff you are quoting and answering to before answering to them!
this is not talking about bitcoin being profitable or not, it is about Binance (an altcoin exchange service) making that much profit so far from the fees they have been earning from their large number of users. not to mention that you bumped a 1 month old topic here.

Binance is a great exchange with the intelligent policies of the Binance development team. Besides the very low transaction costs, Binance will deduct their profits to buy BNB and burn the coins. So BNB is one of the coins I trust

The market is falling sharply again today, and perhaps the exchange is the most profitable industry to encrypt the industry because no matter whether the market is red or the green exchange is making money every day. This may be the reason a lot of people like BNB.

Yes, so far Binance is number  one exchange and number one in terms of traded volume. They continue to expand and very positive about the cryptocurrency. Its amazing to now that the are on target to make $1,000,000,000 in profit. kudos.

What is the relation of the binance track for their 1 billion profit target? Is there any relevance on the bitcoin market price drop? Well if there is then maybe it think it is the 1 billion profit target of bitcoin that relatively depreciates the value of bitcoin and taking the profit on fiat currency. In this way this is just similar to selling crypto for fiat money and there bitcoin market price drop started @ target 1 Billion USD profit.

I can see why Binance is boasting these numbers.  As far as I'm concerned Binance makes all other exchanges look like rubbish.  I now trade only coins being traded on Binance.  If your not on Binance I will not invest in your project.  Period. 

That's very interesting news, it's always sound to have a part of one's crypto holdings in an exchange's coin simply because just as many(if not more) people are still trading in a bear market. but Binance is already very highly valued!