How Binance Conquered The Cryptocurrency World ?

[Angleworm]

Binance is one of the best trading platform for cryptocurrencies. They have one best technology which can handle large amount of transactions at a time and have a great security.

[Antinomist]

In only two years time, they have come up with some impressive qualities. Their coin, BNB, primarily paved the way. The exchange can hold almost 20 million users. It is known to be one of few fastest exchanges to accept new coins. I think they mean business.

[Symptomatic]

Low fee is the key here. Binance has a great security and very good customer support. These features made them paved the way to become what they are now.

[squatter]

If binance can migrate completely to DEX with all the fame it has already acquired it should stay ahead of the game!!

That would be a mistake. It would be smarter to do what Ethfinex is doing -- a "hybrid" decentralized exchange where they also offer centralized custody and trading engine, which is much faster and easily enables bot trading.

I think it'll be many years (if ever) before decentralized exchanges can compete with centralized ones -- at least for day traders, market makers, arbitragers, etc. These types of market participants need highly liquid markets that operate in real-time.

[Hamphser]

The most important reason is to not care about regulations within each jurisdiction they operate in. What Binance does is basically the same as what a squatter does, they jump in without permission and leave once they are forced to leave. It works in the very short term, but with such a core business as exchange your existence is more than fragile; we have seen what Binance did after Japan woke up and didn't tolerate that shit.

I'm definitely inpressed with how Binance managed to grow like that, but imagine what happens with Binance if more governments start waking up. It actually surprises me that governments haven't been more active in enforcing their own rules. With some effort they could whoop at least 50% (very conservatively put) of all the exchanges in existence, because they operate on illegal ground.

When government starts to make its own move-lets say majority of them would have the same laws when it comes to these exchangers then no doubt most of them would really be wiped out and those exchangers
would mostly survived are the ones who do comply with their rules. Just thinking if Binance would still exist on the ground if they would decide to retain on their current position when it comes to legal means.?

[1Referee]

When government starts to make its own move-lets say majority of them would have the same laws when it comes to these exchangers then no doubt most of them would really be wiped out and those exchangers
would mostly survived are the ones who do comply with their rules. Just thinking if Binance would still exist on the ground if they would decide to retain on their current position when it comes to legal means.?

It highly depends on how active governments are when it comes to respecting their own laws. Binance has so many coins listed that for sure will be labelled as security in the coming year or two, that it would require them to register and obtain the appropriate licenses in each country they operate in. Considering that they chickened out when Japan started to chase after them, they will likely do the same again.

I don't really get it, why can't the wealthiest and most popular crypto related entity in the exchange space not just try to obtain these registrations and licenses? Money is definitely not the problem. It could be that there is some shady shit going on in the background they don't want to expose.

[pinkflower]

The answer is simple. When the most popular exchanges started demanding for KYC/AML from their users, it was Binance who took advantage and didnt require it to anyone who signed up to their exchange.

They also took advantage of the banning situation in China by allowing Chinese people to sign up.