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Author Topic: Why we trust binance exchange?  (Read 2364 times)
zuziekatee
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May 07, 2020, 05:01:14 AM
 #101

I see binance as an easy PLATFORM to use for anyone. You can easily sign up , deposit, watch little introductory video about the platfrom usage and start trading. You can complete kyc also in 48hrs. No stress about anything.

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May 07, 2020, 08:12:39 AM
 #102

It is the most secure exchange in the marketplace. Binance is a safe option and a trustworthy cryptocurrency exchange globally. According to the marketplace, Binance receives over 250,000 new account applicants are there in the trading platform and also it provide 2FA(Two Factor Authentication) and a powerful AI system that can even disable and block hackers to protect users. https://www.binance.com/en/blog/419417682154909696/Binance-2020-New-Year-Message-Building-Foundations-- their first letter to it users and community tell more about what they even have in the plan this year.
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May 07, 2020, 08:46:31 AM
 #103

They set a high bar standard even from the very beginning of their platform. They have set a high price for listing a coin/token, so to make it sure that all binance listing would be 100%legal and serious to the project.
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May 07, 2020, 09:55:02 AM
 #104

Regarding security issues Binance is not the best exchange, it has been hacked and revealed KYC information of users. The point that makes me happy about Binance is the cheap price and the support staff is quite good /.
Can you recommend me which exchange is more secure than Binance? This is the leading exchange in this market, so I believe they are also the best in terms of security. Although they were hacked in 2019, they quickly fixed it and I believe it will not be possible to happen in the future.

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May 07, 2020, 11:01:44 AM
 #105

i dont have anything against binance about being one of the trusted exchanges, but how did you assess bnb to have highest security, where they were hacked last year? though they may have already upgraded their security system, but you dont have any back up of such claim.
As far as I know they were able to freeze the transactions of the hackers and that left them unavailable to get any or atleast just some of the assets hackers trying to steal. If that would had happened in other exchange then hackers would have gotten away with free loots in their hands. It a lesson learned from Binance and they even upgraded their system to tighten up the security.
Chuky92
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May 07, 2020, 11:27:20 AM
 #106

Yes Binance is the best exchange in terms of many things of which you have highlighted most but I do not fully agree with you. No exchange can fully be trusted nor can any exchange be said to be secured, remember as big as Binance is, it was still hacked, that sends a very good message. But in other terms or attributes such as volume, IEO and so on, it is the best and can't be compared with others. Lastly, I still use Binance but I try as much as I can to be careful, same thing with other exchanges.

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May 07, 2020, 11:37:13 AM
 #107

i dont have anything against binance about being one of the trusted exchanges, but how did you assess bnb to have highest security, where they were hacked last year? though they may have already upgraded their security system, but you dont have any back up of such claim.
As far as I know they were able to freeze the transactions of the hackers and that left them unavailable to get any or atleast just some of the assets hackers trying to steal. If that would had happened in other exchange then hackers would have gotten away with free loots in their hands. It a lesson learned from Binance and they even upgraded their system to tighten up the security.
They can only freeze when they spot the hacker, and the hacker can still get that money. But in the future he won't be able to do it again. What excites me about this exchange is that they always take care of the user, if the exchange is hacked and the user loses money. They will certainly use their funds and return it to the users
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May 07, 2020, 11:39:09 AM
 #108

I see binance as an easy PLATFORM to use for anyone. You can easily sign up , deposit, watch little introductory video about the platfrom usage and start trading. You can complete kyc also in 48hrs. No stress about anything.
Yes, that's right, the service is also very good, so it is only natural that the Exchange Binance is widely liked by everyone in terms of its use, and Binance also has a good reputation in the exchange category.
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May 07, 2020, 11:49:30 AM
 #109

Why binance called world largest BTC exchange?
1: the highest security is available in binance compared to the other crypto exchange?
2: Generate high volume in the altcoin?
3: best ieo launcher? Compared to the other exchange?


    What is your opinion? Drop your experiences & Opinion?

Binance is the largest and most trusted exchanger because it is capable of handling events in a good and responsible manner. Binance bears losses due to hacking cases and this is one that makes investors believe in trading on Binance
when the binance exchange site is hacked they have prepared a stimulus that can deal with the problem quickly, because I am sure such a large exchange place will not be possible not to think about this because there is a big possibility that the exchange will have a risk of being hacked so I suggest to be able to secure your account by installing a security tool that is so powerful that it can be a little difficult for these hackers.
No exchange, irrespective of how big it is, can boldly say that it is 100% safe, but taking responsibility in case of any theft is what gives some hedge over others. Binance is more responsible than so many exchanges. Despite the number of volumes that runs on the exchnage, they manage to cater to the needs of every one of their users. I think that is the main advantage it has coupled with other inclusions, such as the user-friendly interface and other high technological inputs.
If others are ready to take responsibility like Binance does, they would have had though competitors. So taking responsibility make us to trust them more.

Agree, there are no exchangers that are 100% safe from hacker attacks because every day hackers will always look for loopholes to take customer funds. But the reaction of Binance which is able to reduce investor panic makes Binance more trusted by Investors and this continues to make transactions in Binance continue to increase

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May 07, 2020, 12:53:51 PM
 #110

1. Yes, it is proven that binance has very good security and yesterday's incident I think is because there are people in the hacking
2. the average volume there is indeed very high
3. most of the IEOs conducted there have experienced more success than other exchanges because the community there is very large

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May 07, 2020, 02:58:06 PM
 #111

     Binance is the most important and well-known exchange on the crypto market. It has a very good team and also has listed around 500 of the most famous cryptocurrencies. They have a very good trading volume, an easy-to-use interface for even the most novice, but also a well-developed customer support. However, I think they still have a little work to do in terms of security, as they have had some problems in the past
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May 07, 2020, 02:59:18 PM
 #112

Binance has been doing it consistently for years now. i believe in them highly
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May 07, 2020, 04:12:36 PM
 #113

What I like most about them is that our funds are SAFU there. They have an active & visionary CEO. Besides, it is very easy to make large transactions without KYC. An attractive package in all respects.
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May 07, 2020, 04:18:31 PM
 #114

1. Yes, it is proven that binance has very good security and yesterday's incident I think is because there are people in the hacking
2. the average volume there is indeed very high
3. most of the IEOs conducted there have experienced more success than other exchanges because the community there is very large

You can say binance can be reliable in these aspects. If you want to invest in a project that is in their launchpad for IEO, its as good as binance had indorsed this project and cab highly be successful. Its also been hacked once and binance has an insurance policy for these incidents too. But for trusting KYC, it may not really be that easy to trust them.

Wildwest
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May 07, 2020, 04:20:05 PM
 #115

Indeed for the moment Binance is the largest market user in the cryptocurrency world because of the already assured trust and the security system that is applied is very good, and the average volume of coins is so good that many are using binance but we also have to know every there is an excess there is a shortage, but I for now is still safe to use.

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May 07, 2020, 04:57:05 PM
 #116

There is also the simple fact that they are the biggest? I mean we can do whatever we want there because we know that everyone else is there as well, we know where they are and we know how to make some money when we are there as well.

So, it is loved and trusted just because they are simply the best, they are the most used, and they have insane volume, plus they have all the coins you may want, no BS coins that are horrible and all that, all the coins there are known and liked so basically binance all around has everything a person who trades or even just long term buys may want. Is there other places that are nice? Sure, I like kucoin and even bittrex, but none of them do everything as well as binance does, binance is just levels ahead of them in many things.

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May 07, 2020, 05:00:22 PM
 #117

1. Yes, it is proven that binance has very good security and yesterday's incident I think is because there are people in the hacking
2. the average volume there is indeed very high
3. most of the IEOs conducted there have experienced more success than other exchanges because the community there is very large

Definitely they are good in security but even if there is a hack like last time the team reacted very fast and they restore te investor funds which give confidence to the investors which is very important to any exchanges. The higher success ratio for their IEO is as CZ stated earlier they are concentrating on the quality projects rather than the number of projects launching through their launchpad as far as they could. No doubt that Binance has become the Amazon or Google of the crypto ecosystem in my view
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May 07, 2020, 05:17:09 PM
 #118

Indeed for the moment Binance is the largest market user in the cryptocurrency world because of the already assured trust and the security system that is applied is very good, and the average volume of coins is so good that many are using binance but we also have to know every there is an excess there is a shortage, but I for now is still safe to use.
Binance is still safe to use, but remember that everything can happen, the exchange platform may be attacked by hackers, like Binance has gone through, it's better to save your funds in the wallet

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May 07, 2020, 05:41:49 PM
 #119

Binance is a large, official and responsible company, after the incident at the time of the exchange hacking they were responsible and returned their users' money. on one side I trust Binance because the exchange Binance has valid data or coins, many users and easy to use.
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May 07, 2020, 05:42:51 PM
Last edit: May 07, 2020, 05:57:19 PM by Rafiqul
 #120

At present the cryptocurrency world; Binance is a trusted and reliable cryptocurrency exchange. The security of investors' money is relatively high here. The CEO of Binance is always active with his team in the development and security of the exchange. They do not list here without good quality tokens. Its volume is much higher. I personally feel comfortable trading here.

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