Binance is going to add USD-Crypto pairings. What does this mean for altcoins?

[stopthefud-blog]

Binance’s operations has moved to Malta, a friendly island nation in the European Union.

Opening an office on Malta gives Binance several advantages. One of which is that they can start to set up a fiat-to-crypto trading pair, allowing people to purchase crypto directly with USD or the Euro.

Read more + actual quote from CEO: http://thebitplex.com/2018/03/23/binance-malta/

But what does this mean for altcoins? Will they finally detach from the swings of Bitcoin?
Will Bitcoin dominance go down? Will more institutions look into altcoins as an investment?
Could we see more places to pay in altcoin?

[emmmmm]

I don't think it should, because Bitcoin has become a leader in the cryptocurrency market.
If the Binance Exchange can support the purchase of digital currency in US dollars, it will increase the number of users on the Binance Exchange.

[trecore4]

It means that we can buy altcoins with USD. 

It doesn't change anything but it's just that binnace is opening up all new option to buy the crypto directly with your fiat currency. This will at the max bring those investors on board who are not interested in any hassle that may come in the way like choosing wallet, buying bitcoin from there and then send those to exchanger and then trade with the altcoins that you want. So you see few of the people will try to skip that step and put striaght bet on the alts.

It is as simple as buying grocery from the market. But it's not big thing as any exchanger can have that option implemented if they need to do so.

[Ale88]

Binance’s operations has moved to Malta, a friendly island nation in the European Union.

Opening an office on Malta gives Binance several advantages. One of which is that they can start to set up a fiat-to-crypto trading pair, allowing people to purchase crypto directly with USD or the Euro.

Read more + actual quote from CEO: http://thebitplex.com/2018/03/23/binance-malta/

But what does this mean for altcoins? Will they finally detach from the swings of Bitcoin?
Will Bitcoin dominance go down? Will more institutions look into altcoins as an investment?
Could we see more places to pay in altcoin?

I'm not sure that Binance will offer the UDS/EUR pair for all the currencies they have, actually right know they don't even do it with USDT, so I don't see why they should do it with the real fiat. For sure it can make easier getting some coins without having to get through BTC or ETH.

[CodyAlfaridzi]

Good to hear. I doubt it will have any significant effect, if there's any, on altcoin. I mean we've seen various exchange having altcoin/USD pairs like poloniex and Bitrrex but as we can see there's absolutely no effect at all. The main indicator and market mover still happening in altcoin/BTC and the USD pairs are just following what the BTC pairs are doing.

Institutions are very unlikely to look at random shitcoin for investments. They will most likely invest in something big like Bitcoin, Ethereum, or just creating their own blockchain completely.

[Shova]

Though it's not entirely a new thing, binance pairing fiat with altcoins, will surely decrease the dominance of bitcoin and Ethereum. But what reactions the EU and other authorities would have towards the flow of fiat to Malta.

[pranazzs]

The next Bittrex will actually be achieved by Binance.
and also, may Binance have no more trouble with hacking by irresponsible people.

[sokicsokic]

this can be good thing.. not bad for altcoins.. people will have one more source to buy btc easier and this will help whole marketcap to grow,great news

[lenj]

I'm not sure that Binance will offer the UDS/EUR pair for all the currencies they have, actually right know they don't even do it with USDT, so I don't see why they should do it with the real fiat. For sure it can make easier getting some coins without having to get through BTC or ETH.

I also think its good to get altcoin or token without converting to bitcoin or etherium first.
Binance try to give extra easy for their user and want to make binance more known among people in all over the world

[nonlinearboy]

I'm not sure that Binance will offer the UDS/EUR pair for all the currencies they have, actually right know they don't even do it with USDT, so I don't see why they should do it with the real fiat. For sure it can make easier getting some coins without having to get through BTC or ETH.

I also think its good to get altcoin or token without converting to bitcoin or etherium first.
Binance try to give extra easy for their user and want to make binance more known among people in all over the world

I also think this is a good news for both btc and other altcoins, in the past months, several exchange regulations have made the market fell several times. With the support of the Malta government, it will sure to recover.

[dhemasm]

Of course this is good news for btc and altcoins it will increase the number of users & pairs on the Binance Exchange. Market will grow quickly i think, Because ease in buying crypto using USD.

[Batman_Bitman]

I don't think it should, because Bitcoin has become a leader in the cryptocurrency market.
If the Binance Exchange can support the purchase of digital currency in US dollars, it will increase the number of users on the Binance Exchange.

Bitcoin is leader in the crypto currency market just because bitcoin is the first crypto currency that was ever created and has become highly popular amongst people since then. Also the main reason behind BTC holding the first position in the coin market cap is due to many decentralized exchanges offering BTC trading pairs for altcoins instead of fiat trading pair or any other crypto. So according to me, bitcoin will become stagnant over time and its trading volume will drop and it will show slow movements.

[Tone147]

I think it will affect the status of BTC.
Because if you add a pair of trading pairs of the usdt-altcoin, people will be less and less likely to use bitcoin.

[kiloiko]

I'm not sure that Binance will offer the UDS/EUR pair for all the currencies they have, actually right know they don't even do it with USDT, so I don't see why they should do it with the real fiat. For sure it can make easier getting some coins without having to get through BTC or ETH.

I also think its good to get altcoin or token without converting to bitcoin or etherium first.
Binance try to give extra easy for their user and want to make binance more known among people in all over the world

True. Now people won’t have to buy BTC or ETH first in order to buy some particular altcoins. The trading volume of BTC and ETH will surely be affected due to introduction of fiat trading pair as people will be able to directly buy altcoins without buying ETH and BTC first and then converting them for particular coins. This will prove more convenient for people and also save them transaction fees which were previously required to convert from BTC to particular altcoin.

[fasdorcas]

Binance’s operations has moved to Malta, a friendly island nation in the European Union.

Opening an office on Malta gives Binance several advantages. One of which is that they can start to set up a fiat-to-crypto trading pair, allowing people to purchase crypto directly with USD or the Euro.

Read more + actual quote from CEO: http://thebitplex.com/2018/03/23/binance-malta/

But what does this mean for altcoins? Will they finally detach from the swings of Bitcoin?
Will Bitcoin dominance go down? Will more institutions look into altcoins as an investment?
Could we see more places to pay in altcoin?

Indeed. It’s free from the claim of Japan and its regulations. Definitely movement of binance to Malta has given it advantages. It doesn’t have to worry about being regulated anymore and can stay decentralize exchange as long as it wants to. Introducing fiat trading pair will surely prove healthy for the traders.

One exchange won’t matter much, but surely exchanges introducing fiat currency trading pairs will loosen then hold of BTC on other altcoins. It’s good for altcoin that slowly they will be freed from the influence of BTC and will be able to rise and fall according to their will. This surely will be bad for BTC though.

[Voolet]

It's a kind of danger for Bitcoin but I'd not panic. Who owns bitcoin will still use it, but addind fiats to exchange can involve totally new users and they can make rises to whole market and all coins.

[giarised]

Binance’s operations has moved to Malta, a friendly island nation in the European Union.

Opening an office on Malta gives Binance several advantages. One of which is that they can start to set up a fiat-to-crypto trading pair, allowing people to purchase crypto directly with USD or the Euro.

Read more + actual quote from CEO: http://thebitplex.com/2018/03/23/binance-malta/

But what does this mean for altcoins? Will they finally detach from the swings of Bitcoin?
Will Bitcoin dominance go down? Will more institutions look into altcoins as an investment?
Could we see more places to pay in altcoin?

I'm not sure that Binance will offer the UDS/EUR pair for all the currencies they have, actually right know they don't even do it with USDT, so I don't see why they should do it with the real fiat. For sure it can make easier getting some coins without having to get through BTC or ETH.

The reason that binance doesn’t offer all altcoin trading pair for USDT is that USDT is considered as a centralized crypto currency and not a fiat money. No one knows by what firms or institutions USDT is backed up by exactly. Binance doesn’t even have all altcoins for trading pair ETH. USD/EUR introduced will be fiat currencies and everyone knows by what is backed up by, so I think they will surely provide USD/EUR trading pair for all the altcoins as USD/EUR doesn’t come under category of crypto currencies.

[DikkieD]

I hope this means less volatility and easy access to certain alt projects. Many new people (and their 'new money' is much needed right now) don't get the steps to take to get from fiat to their preferred alt. So this makes it much more easy. I think Europe could also be the next huge growth market, since Europeans tend to follow suit, but are no front runners when looking at adopting new innovations.

I hope this means less bitcoin dominance too. RIght now people are always getting back to btc at the slightest hint of either their alt coin is about to drop, or btc is about to rise. I love less btw (and eth for that matter) dominance. Time to get those promising alt projects out of the red again .

[Ali Akbar Torang]

Bitcoin are trusted cryptocurrencies right now, even if nowadays bitcoin are converted with other cryptocurrencies it is rather made bitcoin prices more high.