Bitcoin Forum

Binance started to be popular when Bittrex fucked its users, many of them turned to Binance, especially because it didn't have a KYC. It gained is first users from the fiasco from other exchanges. And I suppose its token has something to do with it somehow. Anyway, it's a huge performance for its first year

With the hype of Binance the moment it was commenced they truly gather lots of customers. They take that advantage and give their customers a service that other exchanges don't have so that surely others will stay. And with that good feedback at early phase, they managed to get even more customers and now end up to what they are now.

In crypto, the reliabilty of exchanges is really important that's why people stick to those exchanges that only have experienced a less bad feedback.

https://www.msn.com/en-us/news/technology/crypto-giant-binance-looks-to-the-future-with-fiat-trading-and-a-decentralized-exchange/ar-AAAEB2o (https://www.msn.com/en-us/news/technology/crypto-giant-binance-looks-to-the-future-with-fiat-trading-and-a-decentralized-exchange/ar-AAAEB2o)

https://techcrunch.com/2018/09/25/binance-looks-to-the-future/ (https://techcrunch.com/2018/09/25/binance-looks-to-the-future/)

1) Binance made a profit of $350 million over the past six months

2) Binance trades more than $1 billion in crypto volume a day

3) Binance is just a year or so old

So how did Binance CEO Changpeng Zhao and his team manage to go from being a start-up a year ago to what it is today?

With so many exchanges already out there operating for years, what made users go to Binance?

With the hype of Binance the moment it was commenced they truly gather lots of customers. They take that advantage and give their customers a service that other exchanges don't have so that surely others will stay. And with that good feedback at early phase, they managed to get even more customers and now end up to what they are now.

In crypto, the reliabilty of exchanges is really important that's why people stick to those exchanges that only have experienced a less bad feedback.

Seriously, how difficult is it for Binance to obtain the proper registrations and licenses to still operate in Japan? Japan is a crazy large market that will keep bursting out of its jacket. It just points out that they aren't interested in obtaining them, or they couldn't and won't be able to pass the requirements. They have never been hacked in the way other exchanges are hacked, and money is totally not a problem, so what is the problem?

Nikkei showed irresponsible journalism. We are in constructive dialogs with Japan FSA, and have not received any mandates. It does not make sense for JFSA to tell a newspaper before telling us, while we have an active dialog going on with them.

2:33 PM - Mar 22, 2018

We received a simple letter from JFSA about an hour ago. Our lawyers called JFSA immediately, and will find a solution. Protecting user interests is our top priority.

So how did Binance CEO Changpeng Zhao and his team manage to go from being a start-up a year ago to what it is today?

With so many exchanges already out there operating for years, what made users go to Binance?

What you said is correct, customer support should be good to get success in exchange or any other business. One more plus point is that they are from japan and in their country it is legal to use crypto currency. Which made more success to their exchange

Something deep down there at Binance is probably wrong, they might be laundering money, cooking the books or manipulating the trades but it's pretty clear they want to make sure nobody is bothering them.

Binance always have development that's why many users trust this with so easy to use their trading site another thing if there's a new coins/tokens listed in their site i'm sure it will grow like hot now then more users,investors,traders use this because of that and if you compare this to other trading site they not list many alts like in some trading site i think they base that if the alts have potential to grow

Well their customer services seems to be on a much high level compared to something like Bittrex or Poloniex. They have to be doign that right because their complaints are so few and their daily volume statistics do not lie.

Binance did well, I have to give them that, but their foundation is fragile and very much subject how active regulators will become in the forthcoming years.

Binance is a squatter, it just enters a certain jurisdiction without bothering about registrations and licenses, which in current times regulators aren't really in the mood for to combat, but you can bet on it that this won't last endlessly. Japan is the first country to actively stand up, and as you can see, they left as soon as they felt the situation became too serious to ignore.

Seriously, how difficult is it for Binance to obtain the proper registrations and licenses to still operate in Japan? Japan is a crazy large market that will keep bursting out of its jacket. It just points out that they aren't interested in obtaining them, or they couldn't and won't be able to pass the requirements. They have never been hacked in the way other exchanges are hacked, and money is totally not a problem, so what is the problem?

... but their foundation is fragile and very much subject how active regulators will become in the forthcoming years

I support this remark by 100%. The thing is that crypto community has to acknowledge, that compliance (KYC and AML) is coming full force and we'll have to accept it. Otherwise, crypto will not get massive adoption.
Current capitalization is still dust in the financial world. Sadly, we (crypto movement) are still quite easy and cheap to get destroyed.

Binance Set to Launch a Crypto Exchange in Singapore

https://coindoo.com/binance-set-to-launch-a-crypto-exchange-in-singapore/

Binance CEO Changpeng “CZ” Zhao revealed this exciting news at the Deconomy event in Seoul, South Korea. He back this up with a tweet which reads:

“#Binance Singapore will come online in April. It will be our next Fiat to Crypto exchange servicing $SGD [Singapore dollar].”

He, however, didn’t reveal more details regarding the project.

Mithril is the first token to move to the Binance blockchain (from ERC20 to BEP2) :

https://medium.com/mithriltoken/mithril-partners-with-binance-as-the-first-project-to-migrate-to-binance-chain-fe2f326c138f

Mithril is the first token to move to the Binance blockchain (from ERC20 to BEP2) :

https://medium.com/mithriltoken/mithril-partners-with-binance-as-the-first-project-to-migrate-to-binance-chain-fe2f326c138f

“Well, let’s just say that projects who move some % of their chain off of Ethereum to Binance Chain will get favorable treatment — and those that don’t could be delisted if their volumes are less than $1M/day,” the person said.

Yes, i see in the twitter update given by the Binance CEO, after launching their main net. Mithril is going to be the first token to be implemented on the Binance blockchain this is going to be the first milestone for the Binance company.

https://www.bloomberg.com/news/articles/2019-04-18/largest-crypto-exchange-leverages-influence-with-own-blockchain

Binance, the world’s largest cryptocurrency exchange, launched its own digital ledger as the fast-growing company seeks to leverage its clout to get developers to switch projects from rival platforms such as Ethereum to its own native blockchain.

The distributed ledger, called Binance Chain, will allow crypto startups to issue coins directly on the company’s platform. It will also serve as the basis of Binance’s planned decentralized exchange, which will let customers trade more directly than on centralized exchanges. The Malta-based exchange’s native coin, known as BNB, will move off the Ethereum network to the new blockchain.

"The launch of Binance Chain is one of the most important crypto events of the year," Kyle Samani, co-founder of crypto hedge fund Multicoin Capital Management in Austin, Texas, said in an email.

Raising funding through Initial Coin Offerings conducted directly on the Binance Chain is seen as a big attraction for token issuers and investors because of the liquidity and exposure of the Binance exchange. In the past, startups that issued coins on the Ethereum network often found it difficult to get their tokens listed on exchanges even if they were willing to pay listing fees.

"Binance Chain is competing with one of the primary use cases that helped catapult Ethereum into what it is today: issuing and trading tokens," Samani said. "And because Binance Chain is designed with that specific purpose in mind, it does a much better job (speed, transaction fees, etc) than Ethereum can. I expect all of the regulated token offerings and ICOs moving forward to take place on Binance Chain as it simply provides a much better platform for these use cases."

The effort could also boost usage of decentralized exchanges, known as Dexes, which until now have accounted for only a sliver of trading volume. Binance expects that over time trading will shift from its centralized exchange to its Dex, so software located on Binance Chain would largely govern transactions.

The Dex will extensively use BNB. People who currently hold BNB issued on Ethereum will be able to swap it for the same coin listed on Binance Chain shortly.

"Users and fanatics will now be able to directly participate in the economics of the platform without any barriers," Jeff Dorman, a partner and portfolio manager at Los Angeles-based Arca Funds, said in an email. "The biggest question mark is will the Binance Chain be able to offer the same speed and functionality as the Binance Exchange? We think so.”

it is crazy how big binance got this fast so far everything has been good but that probably when you don't want to leave your coins on the exchange anymore.
before there are problems you get out

Bloomberg is now covering Binance and their blockchain:

The DEX has been launched. I just created my wallet on it. Well it's not really a DEX but still...

https://www.binance.org/en/trade

Everything is blank- or its just me?

Recently there are some gossips around and different opinions around Binance and their blockchain,  here is one of the articles, (https://www.theblockcrypto.com/2019/04/17/binance-wants-crypto-projects-to-migrate-to-its-chain-from-ethereum-and-the-firms-massive-trading-business-could-help/)  where a gossip was mentioned that they try to use leverage to convince projects to migrate to Binance Chain with the option to offer favorable terms if they switch


I'm curious, is it just an attempt for the FUD or they have real support that this is happening on the backstage? What do you think about that?

All things related to their own chain will be under the watchful eye of the whole crypto community. It will be interesting to see what happens to Binance in the near future.

I think they will continue to innovate and stay miles ahead of their nearest competitors.

Obviously, Binance has set the bar really high as far as what crypto platform should be in the future. Their competitors are just following their lead and that is why they can't overtake Binance. I wonder though who's the man behind all innovations they doing, it is CZ idea's alone. Yes, I'm sure they will continue to introduce lots of development for crypto sphere.

Who are the nearest competitors to Binance?

What are their near-future plans?

Who are the nearest competitors to Binance?

What are their near-future plans?

The DEX has been launched. I just created my wallet on it. Well it's not really a DEX but still...

https://www.binance.org/en/trade

Before it was Coinbase, Bitfinex Bitstamp and even Kraken in 2017. I speculate that time that Binance's volume is around 10% but surges up to 50% in 2018-2019. https://techcrunch.com/2019/04/17/coinbase-launches-in-11-countries-with-crypto-to-crypto-conversions-only/ (https://techcrunch.com/2019/04/17/coinbase-launches-in-11-countries-with-crypto-to-crypto-conversions-only/). And since Binance started this whole IEO hype, lots of exchanges are also following that path. And with Binance DEX, they really leave the competition behind.