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Author Topic: Binance about to offer Fiat-Crypto Trading.  (Read 601 times)
BaraxLo
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June 30, 2018, 08:31:29 AM
 #81


Binance is planning to introduce crypto to fiat trading pairs, according to multiple recent reports. Binance is currently the leading exchange in terms of daily trading volume, with more than $1.3 billion in trade and is slightly ahead of OKEx.

The exchange will use its new base at Malta to introduce the new service and set up a new platform based in Malta to offer crypto-fiat pairs. Binance CEO Zhao also revealed his plans to expand operations of the exchange to the Channel Islands as it is waiting to receive a license from the authorities at Jersey. The company is also in talks with authorities and banks in Taiwan.
Well I don’t know much about this single exchange but sometimes things are not in reality as you are seeing them from another perspective. The thing is, like this exchange, may be this is supreme one already and you are only to go in there and shine your own trading. But make sure you are getting in some legit thing that would be backing you in hard times as well. Don’t be impatient.
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June 30, 2018, 09:54:48 AM
 #82

So it's Uganda only. An interesting experiment for everyone. Binance should learn something and the locals will too. They're showing some proper vision here whereas most exchanges are still dicking around pretending to be futuristic.

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July 27, 2018, 06:09:53 PM
 #83

Binance is expanding in all financial areas of crypto trading right from banks t country blockchain rules and now crypto bank it is good move
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July 28, 2018, 09:05:10 AM
 #84

So it's Uganda only. An interesting experiment for everyone. Binance should learn something and the locals will too. They're showing some proper vision here whereas most exchanges are still dicking around pretending to be futuristic.


Uganda is a very interesting market, with only about 11% of the population having a bank account. It will be a big challenge for us, but also an opportunity to apply for electronic money as a form of currency. This is an interesting test, Africa is a big market.

This will be "Binance's first touches on fiat," so Binance will need to focus more on anti-money laundering (AML) rules and identification (KYC)

Binance's new trading floor in Uganda will have an independent structure, but the operating system, security, will be based on the existing platform.
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July 28, 2018, 09:16:38 AM
 #85

This is a very good move, as it will go a long way in pushing for the widespread adoption of cryptocurrency.
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July 28, 2018, 09:33:59 AM
 #86

Well that's great, i wonder why there are so many phishing site for binance because they keep on improving and improving. For members, be sure to use 2FA to secure your accounts.
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July 28, 2018, 09:56:09 AM
 #87

I can say this is a right move.
This will make it easy for investors/ traders to transact without the hassle of converting mainstream cryptocurrencies like bitcoin and ETH.
This will also helps in pushing for the widespread adoption of cryptocurrency in the society.

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July 28, 2018, 10:40:24 AM
 #88

It's great, only when it will be and where it will be possible to use.
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July 28, 2018, 01:35:53 PM
 #89


Yes, I agree with this and it is going to be a great step taken by the Binance exchange and by this way they would gain more demand and new traders opening an account with them and also people who used to trade forex for investing would switch to crypto trading because previously there was no option to trade Crypto with FIAT but now trading crypto will be started soon with Fiat currencies and i think it will be a good hedging instrument for big investors also who are holding their trades in forex.

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July 28, 2018, 01:41:01 PM
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Binance is already known I'm just not sure if new users will come to trust putting their credit card details on it. KYC itself has prove to be scary for some users but it won't hurt to have fiat though. Money coming in from users who are willing to send GBP and USD are very much welcome in cryptosphere. They are not like coinbase who already have established but its a good option still.

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July 28, 2018, 01:56:54 PM
 #91

This is one of the moves we need as an industry.This is because the pairing of BTC or ETH and altcoins has an enormous effect on the market when any of the two giants prices fall.The direct measurement affects altcoins badly and the entire market suddenly look bad.But if the fiat pairing exist, there will be stability in the market even if BTC or ETH falls.This will help to reduce altcoins volatility.
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July 28, 2018, 03:40:37 PM
 #92

So this means another earning business for binance exchange. Binance exchange are getting familiar and establish when it comes to exchange for ETH and BTC for most of the altcoins. However, since the exchange has offer about crypto trading then this would take them to another mileage on their achievement of their project being implemented.

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August 01, 2018, 08:57:31 AM
 #93

I thought the CEO of Binance said they will not be adding FIAT Pairs anytime soon or not at all, that they will keep it crypto to crypto exchange only. Maybe they will open another exchange for that?
Do not know whether it is the pleasure of the opportunity or the anxiety of this market. However, every reform has its own reason and in particular it has better features that can happen. But it is their business, and we must invest wisely and especially protect our assets against possible fluctuations.

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August 01, 2018, 09:07:09 AM
 #94

Binance really is one of the best exchanges around, they really do believe in " Go big or go home" I would love to only use Binance but every now and then there is a great project and then you just have to use the others because it's not on Binance yet.
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August 01, 2018, 09:32:42 AM
 #95

This will be very nice if Binance could implement fiat and crypto trading. It will also boost its presence in the market as more persons will be attracted to the Exchange. It will also make it very easy for direct withdrawals to bank account if one needs to spend fiat cash.

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August 01, 2018, 10:31:43 AM
 #96


Most big exchanger right now start to launch accepting fiat. When G20 country member regulate cryptocurrency, I am believe most exchanger will accepting fiat to trade crypto in their platform.
If Fiat accepted in any big exchanger, its good progress for cryptocurrency market and will increasing transaction volume in market. Hopely attracting new investor in market

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August 01, 2018, 11:33:48 AM
 #97

Still waiting for it. I guess this will surely put a positive impression on the trading methods because it is as close to as trading with the forex. The only diference here would be having crypto assets for the trade purpose. No more brokerages, no more heavy transaction and trading fees. So I guess it is best step that Binance has taken. CEO of the Binanace knows everything very well, how to play this market, what people needs and what is ever changing here. If he runs with the time then only Binance and the crypto currencies will survive and he knows this better than anyone. Best decision of adding this features.
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August 02, 2018, 08:32:10 PM
 #98

Binance offering fiat trading with cryptocurrency will likely increase the inflow of cash into digital market and I hope this indeed influence the market positively. This option make it easier for investors to trade their fiat with any of the major coins. Also, binance giving this option by following bittrex in offering Fiat-crypto trading is definitely a big plus to them in their strive to be the best cryptocurrency exchange.
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August 02, 2018, 11:48:09 PM
 #99

Uganda is a very interesting market, with only about 11% of the population having a bank account. It will be a big challenge for us, but also an opportunity to apply for electronic money as a form of currency. This is an interesting test, Africa is a big market.
it's true they are good market for e-money, but I don't think so for crypto currency?
they would probably be more interested in e-money in the form of their own national currency
how would you target unbanked people to get into "Fiat-Crypto Trading"?
to be able to do that, they need to have (access to) bank account to begin with
they are unbanked for some reasons and trading is not a good reason to get them banked Undecided

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August 03, 2018, 12:45:53 AM
 #100

Uganda is a very interesting market, with only about 11% of the population having a bank account. It will be a big challenge for us, but also an opportunity to apply for electronic money as a form of currency. This is an interesting test, Africa is a big market.
it's true they are good market for e-money, but I don't think so for crypto currency?
they would probably be more interested in e-money in the form of their own national currency
how would you target unbanked people to get into "Fiat-Crypto Trading"?
to be able to do that, they need to have (access to) bank account to begin with
they are unbanked for some reasons and trading is not a good reason to get them banked Undecided
yes i guess so. i don't think it will be approproate for them to have that kind of reasoning. it would also be unfair for them and most probably they will complain or not like how the idea is going on. if we carefully think about this scenario there are some other ways to let them enter trading not only with the reason of banking and other stuffs.
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