Why we trust binance exchange?

[FLHippy]

At first I won´t call Binance as the safest crypto exchange because it was already proven that it is not true - Binance hack in late 2019 - $40 million were stolen. For me is much safer Coinbase because they still resist the hack attack. Knock knock. 

[Drai]

Binance is not safest crypto exchange, but your funds are safe there! I trust Binance exchange because I love to trade there. It gives me a comfortable feeling that my deposits, assets are safe here. The exchange UI is very user friendly, support is very much active! Binance is not only just an exchange! To bring mass adoption, we need projects like Binance! They do charity, they do donations, they always busy on new developments! The CEO is very active and responsive to his community! What else things you need from an exchange?

[bitkanu]

At first I won´t call Binance as the safest crypto exchange because it was already proven that it is not true - Binance hack in late 2019 - $40 million were stolen. For me is much safer Coinbase because they still resist the hack attack. Knock knock. 

That's true binance is not a safe exchange site but that gives good service for the user experience. I like the features and how easy to trade on binance exchange site but i can't deny the fact that if the security that offered by binance is so poor compared with another exchange site.

[sandra_x]

Hacks are an inevitable reality for centralized exchanges, One of the best feature of binance is the fact that funds on the exchange are insured. Users have their funds replaced when hacks happen,that is not to suggest that they should have crappy security or that users should leave large funds on the exchange

[Yamifoud]

It is the same thing asking, why we trust Bitcoin? Why we choose Binance?
The trust really matters and that's how people see on Binance which we can never find it with the others. We are looking for a certain place that is worthy of our trust and the confidence that it helps to safeguard our funds. I know isn't only Binance who can perform such a task but because we are influenced by many crypto holders and traders, it also drags us to give shot as well. The capability of this exchange will help to keep their old traders and that it also attracts new ones.

[jacafbiz]

I think what separate Binance from other exchanges is the high number of ALtcoins listings, most of these big exchanges do not list any Altcoins for listing sake but Binance welcome any projects to their platform provided there is interest from the community, though Binancee is trying as compared to other exchanges interms of volume and liquidity but there is huge room for improvement because I feel Binancee also use washing trading

[maruf01788]

Binance  is a trusted exchange.  Binance's security is very good. But that doesn't mean it won't be hacked. It can be said that the security of Binance is much better than other exchanges.  Binance's listing fee is much higher than other exchanges. That is why most of altcoins are good.

[gundala]

Hacks are an inevitable reality for centralized exchanges, One of the best feature of binance is the fact that funds on the exchange are insured. Users have their funds replaced when hacks happen,that is not to suggest that they should have crappy security or that users should leave large funds on the exchange

This gives users a sense of security, although hacked in 2019 to $ 40M USD in BTC, Binance does not lose market confidence. Binance is responsible and resolves it quickly.

Another advantage of Binance is the fee is quite cheap, only 0.1% and becomes cheaper when using BNB. For large traders, this is very profitable. Let's look at the comparison of fees with other exchanges.
https://t.me/ico_analytic/1260

Regarding IEO, projects that collaborate with Binance can often attract a strong market interest. This is very beneficial for the project to achieve sales targets. Regarding IEO, projects that collaborate with Binance can often attract strong market interest. This is very beneficial for the project to achieve sales targets. Below I include a comparison of the ROI achieved in IEO in Binance, Kucoin, and Okex

[Ridwan Fauzi]

Those points are right but I just want to add another points that I think that is deserve for binance exchange. Binance exchange is always been responsible, if you remember a year ago this exchange got hacked and there were a lot of the user asset had stolen but binance exchange was replaced all the money that been stolen.

I think just a few exchange who can do that, most hacked exchange will just gone away and we never know where the creator of it. This is why I trust binance and by the why another thing that I like to binance exchange is they never ask a KYC if you no have a huge amount of money. Since I just individual investor and I just spend a little money to invest I don't need to give my personal identity for this exchange.

[coupable]

if you remember a year ago this exchange got hacked and there were a lot of the user asset had stolen but binance exchange was replaced all the money that been stolen.

That was the most suspecious hack. Many people thought that it was an inside job and Binance planned the full scenario to present itself as the most secure even it got hacked. Binance gained more users after the hack and now it is number one exchange.

I think just a few exchange who can do that, most hacked exchange will just gone away and we never know where the creator of it. This is why I trust binance and by the why another thing that I like to binance exchange is they never ask a KYC if you no have a huge amount of money. Since I just individual investor and I just spend a little money to invest I don't need to give my personal identity for this exchange.

I don't know if am missing something, but i thout KYC is required when reaching a certain level of withdraw limit. So if you are a binance user owning a huge amount of money, you would need to submit your personal docs in order to withdraw them. Of course you can freely manage them within the platform .

[Sirait]

what I like about Binance and maybe this has become a common answer that is a cheap fee, a complete pair, UE & UI are comfortable

but each exchange has advantages and disadvantages of each and I did not find weaknesses in Binance but security issues are still a hot thing to discuss

[vicoma]

Why most people trust Binance exchange is the way they handled their customers during the hack. This is like an insurance that your asset is safe with Biannce, in addition, it is the largett liquidity at the moment and has a good reputation.

[flagpara]

You can't find any other exchange which is more smooth than Binance exchange. You can tell that Binance exchange was hacked but even though Binance exchange has higher security. We trust this exchange because of this exchange promising. One after another Changpeng Zhao is doing great. Binance Dex, Coin and even also Binance USD helps to stay in number 1 exchange. Any others exchange can't do it easily in this short time after launch this exchange.

[iconoclast]

They are certainly big, but you would be foolish to equate size with safety. The safest place to keep your crypto is on a wallet where you own the keys. If Binance gets hacked, gets shut by regulators, or goes bankrupt, all your coins will be at risk. If you don't own the keys, you don't really own the coins.

[sandos]

They are certainly big, but you would be foolish to equate size with safety. The safest place to keep your crypto is on a wallet where you own the keys. If Binance gets hacked, gets shut by regulators, or goes bankrupt, all your coins will be at risk. If you don't own the keys, you don't really own the coins.

If this exchange collapses, the crypto market will be greatly affected and will certainly make investors' feelings feel more afraid when choosing to invest in this market. I think with what is happening, Binance is still a good place for you to choose to keep your property because until now I do not have any major problems happening here. In the past, Binance had been hacked over 7000 BTC but they still paid in full and did not scam any investors.

[Teraboy]

what I like about Binance and maybe this has become a common answer that is a cheap fee, a complete pair, UE & UI are comfortable

but each exchange has advantages and disadvantages of each and I did not find weaknesses in Binance but security issues are still a hot thing to discuss

If you said that you didn't even find the weakness in binance and why you must watch the old news again when binance go hacked several times by the hacker. That means there was no a perfect security system even that was programmed by the expert. I should remind you the security issue could be found in all of exchange sites too.

[Ibizugbe1]

No matter what anyone says, I prefer binance to most exchanges, good security, responsive support team both mails and live chat, low transaction fees and low withdrawal fees. Had a bad experience with Poloniex and may never use it again going to withdraw all my fund. Will just stick with binance as a major and occasionally trade on others.

[Odebowa]

Binance is a crypto currency exchange, focused mainly on the Chinese market which is a relatively new Chinese company, created by experienced professionals in the cryptocurrency space. The most recognizable name behind this project is that of Changpeng Zhao, former CTO at OKCoin. Binance which was created after attracting funds via an ICO (Initial Coin Offering – creating a new digital asset, backed by the project). The BNB tokens can now be traded on the exchange, or used as a method of paying your trading fees, which will reduce them by 50%. Additionally a small portion of the coin has to be paid to the company to cast your vote in the community poll, which determines which altcoin will be added to the exchange next.

Binance holds some kind of promotional distribution to existing clients. Usually it involves tracking the biggest holders of the new asset and rewarding them with extra coins. they are also recognize for
 (1) high trade volume
(2) wide variety of offerings
(3) ease of use
(4) transparent and low fees.

[iDagCoin]

The only reason Binance is so popular is that they don't list scam projects. The projects listed at Binance are the best and help investors get profit. In addition, Binance's security is very good and we do not need to fear hackers

"The only reason Binance is so popular is that they don't list scam projects." --exactly

[bisdak40]

Hacks are an inevitable reality for centralized exchanges, One of the best feature of binance is the fact that funds on the exchange are insured. Users have their funds replaced when hacks happen,that is not to suggest that they should have crappy security or that users should leave large funds on the exchange

That would be interesting to note but i doubt that they will refund all the users once their exchange is hack.

Binance is one of the exchange that i trust and i assumed that their security is good because nothing has happened to my funds in them though not big but still worth a cry  . When i first entered into this cryprosphere, Cryptopia and Binance were the exchange where i am trading but unfortunately Cryptopia collapsed/scam exit, i hope that i won't happen to Binance.