Binance is now one of the fastest growing cryptocurrency exchange and some are labeling this as the Bittrex killer though I don't the basis for such a claim.
Binance has indeed been growing rapidly, but it's a bit too fast in my opinion, especially because of the fact that they aren't used to such large volumes of trades and usage. Everything is all fine when things are running smoothly, but what if Binance is going through difficult times at whatever point in time? If we look at the past, exchanges having grown rapidly in a similar fashion, where the best examples are Poloniex and Bittrex, have all turned out to be quite incompetent when it comes to operating an exchange in an appropriate manner. People switched from Poloniex to Bittrex due to the problems, but now at Bittrex they face the exact same annoyances. I don't think Binance will be exempt from similar problems later on. That's why I prefer to keep using exchanges with a proven and reputable track record. Bitstamp is my main exchange, and will stay that (I hope) for ever.
Maybe because these exchanges never expected so much crowd to their site and it all happened so fast in last few months so many people want to invest suddenly in crypto markets so all these exchanges need to upgrade their infrastructure to support so many people.
So far I didn't use this Binance exchange because I didn't face any issues in Bittrex. But now want to try as a backup plan. Want to check whether Binance will also restrict our withdrawals if we don't verify our account similar to Bittrex?
