[2018-02-24] Scam-Free: Binance CEO Officially Receives Twitter Verification

[cybersofts]

Scam-Free: Binance CEO Officially Receives Twitter Verification




Chengpang Zhao, CEO of crypto exchange Binance is the proud new owner of a Twitter account with a verified blue check mark symbol on it.

Despite Zhao being the third richest person in the cryptocurrency industry with a net worth well over $1 billion, his Twitter account was among those of regular folk since he first signed up back in August of 2017.


Good Old Fashioned Third-Party Credibility

In his tweet confirming verification status, Zhao reminds the crypto faithful not to trust anyone that promises to send you more ETH because you generously give yours to them:

“One more time, NO ONE will not sent you more ETH just because sent them some. The world doesn’t work that way. Binance “quietly” launched a charity, it is for people in real need, not just because you sent one transaction.”

Zhao is referring to the numerous scams that are currently floating around on various platforms where users send tokens to people they don’t know. An anonymous user on Twitter posing as Tesla founder Elon Musk now owns more ethereum tokens after offering to send out a return on investment to participants only to leave them hanging.


Restoring Reputation

Zhao maintains a great reputation in the crypto community for creating the industry’s most popular exchange platform. Yet Binance has recently come under fire for a few reasons.

Most recently, Binance shut down for a full day thanks to what was called a system upgrade. Many suspected it was due to a hack. This all happening just one month after Binance became the largest exchange in the industry.

To make up for the error, Zhao and his team are discounting trading fees until February 24th.


Knowing Who To Trust

Zhao’s Twitter verification may not seem like a big deal. Consider for a moment though what is happening in the industry right now.

Firstly, government regulators are now coming down harder on their citizens when it comes to the regulation of exchanges and tax policies.

Secondly, hacks are still costing users millions of dollars.

And finally, investors are still losing money to pyramid schemes like BitConnect and USI-Tech. Not to mention initial coin offerings that either steal coins or fail to deliver a working product.

A little blue check mark next to a Twitter account is nothing to write home about. At least now there is one less unverified crypto influencer out there.

Remember to watch out for fake accounts people.


Source: https://www.ccn.com/binance-ceo-officially-receives-twitter-verification/

[CryptoBry]

This is just another good move for Binance. I began to like and love this very good exchange since two months ago. I shifted from HitBTC which I find to be a poor-managed exchange to one that is always working for its members: Binance. Now this is not a paid advertisement but just an admiration of a platform that is doing everything they can to make all parties satisfied and happy albeit it is not also perfect and there would always be birth pains even for established sites.

In relation to this...I am still amazed how come there are still people who will easily believe and trust anybody and will transfer any amount of cryptocurrency funds to a wallet address just pasted anywhere online. We should always be careful that we are only dealing with official medium of any project we are planning to participate with. Newbies should be more wary and should be questioning anybody they are dealing with...importantly should use the maximum amount of common sense.

[aso118]

Binance has become the largest cryptocurrency exchange because of its positive attributes - large number of coins listed, easy registration and verification procedures, reasonably good customer support.
The verified twitter account might help them reach their customers through a reliable medium.

[1Referee]

Binance has become the largest cryptocurrency exchange because of its positive attributes - large number of coins listed, easy registration and verification procedures, reasonably good customer support.
The verified twitter account might help them reach their customers through a reliable medium.

It's great and all how Binance managed to grow and satisfy its users, but let's not forget that this is a newbie exchange in a market that is almost 10 years old, which in crypto time standards is an eternity. In other words, they have yet to prove themselves over a longer period of time. This article makes a big deal out of a verified Twitter account, which isn't anything special at all - any exchange can and should do this by default. The article itself points out more than once that it may not be that big of a deal, but it again more than once contradicts itself by portaying the importance of that blue check mark, lol. It seems that the article writer isn't exactly sure himself what to write about - classic CCN article.

[darkangel11]

WOW a social media site verified him. He's a billionaire, endorsement comes easy for people like him. 10k USD here and there and all doors start to open and people start greeting them with a smile. That's how money works. For twitter it's just another business opportunity, for zhao it's a free ad, for people who trust him it's somehow a proof of legitimacy (although it shouldn't be) and for the press it's something to write about. Next article, Binance CEO changed his facebook profile picture. 

[jhenfelipe]

It's great and all how Binance managed to grow and satisfy its users, but let's not forget that this is a newbie exchange in a market that is almost 10 years old, which in crypto time standards is an eternity. In other words, they have yet to prove themselves over a longer period of time. This article makes a big deal out of a verified Twitter account, which isn't anything special at all - any exchange can and should do this by default. The article itself points out more than once that it may not be that big of a deal, but it again more than once contradicts itself by portaying the importance of that blue check mark, lol. It seems that the article writer isn't exactly sure himself what to write about - classic CCN article.

All exchanges started at the bottom, being a newbie. Yes they haven't proven themselves for a longer period of time, but doing what they could do to offer a great service is a good start. Ofcourse would be better if it will be consistent, it should be.

As you mention, any exchange can and should do twitter verification by default, however others didn't. Isn't knowing that makes it special even a little? Anyway, what's important is people could easily recognize whom to trust in regards with Binance twitter updates with this.

[Granxis]

Especially in the twitter accounts of well-known stock exchanges like Binance, BitTrex, too many fake accounts have appeared, these accounts are arranged like a copy of the original accounts, for this reason real account holders should look different.

[richardsNY]

If you fall for a fake Twitter account, you're just a pathetic noob. If you visit the site of any exchange, you'll find their official Twitter account there that you can directly follow from that point. It's like we almost need to spoon feed people in this market with rules and tips to not fall for obvious scams. If I am getting myself involved in whatever new market, I do research, take the time to get familiar with how things work, and then later actually pull the trigger to invest money. Common sense is something that we all are born with, but just a small fraction of the people here know how to use. This market is literally infested with blind get rich quick noobs....

[Tai Chi Chain]

Binance is awesome.
Very responsive & understanding & are complying with a lot of upcoming laws.

Can't wait to do further business with them.

[ApocalypseNow]

Of all the exchanges out there, Binance is the only one worthy of any trader's trust. So I hope that McAfee can't manipulate Binance users again when a maintenance is going on.