Why Binance can be the next e-gold or LibertyReserve

[Get-Paid.com]

Not wishing them to be there but the explosion of Binance can explode the entire Crypto bubble.

It's simple

1) Binance is offering "Binance Earn". You earn interest on your savings.
2) For example USDT pays 6% per year in comparison to banks who pay out 0.2% or less than that on US dollars.
3) Binance doesn't report the earnings, govts around the world can scrutiny them for that.
4) Govts can shut them for not following tax code and more.
5) It's not only Binance, Blockchain.com and Crypto.com and others are in the same thing.

What do you think?

[Oshosondy]

You are right that people can save bitcoin and even some altcoins on binance and earn interests, but binance is still a custodial exchange, which means users are not having the key to their coins, which means binance has the keys. I will not recommend such because if we do not have the key, then we do not have the coin, which means we do not have the full control over our coins. It can be an active income for some people that have huge amount of bitcoin, but not advisable.

Governments around the world are getting more knowledge day by day, very possible to not allow their citizens to trade on binance just for the reason you mentioned above about taxes, the reason we are still encouraging people to make use of noncustodial wallet, no government can shot down noncustodial wallets.

[hatshepsut93]

E-gold and LibertyReserve were closed because of alleged money laundering. Binance is doing KYC and cooperates with authorities, so I don't see it being suddenly taken down.

I doubt that Binance's crypto investment programs are Ponzi schemes, Binance is a succesful company, why would they need to make an exit scam?

[logfiles]

Not wishing them to be there but the explosion of Binance can explode the entire Crypto bubble.

Nothing to worry about here, At the time of it's hack, Mt Gox accounted for 70% of Bitcoin's transaction and 70-80% of the trading volume of the entire crypto market, but we didn't see any crypto bubble burst happen. Binance might not even be close to 30% of total spot trading volume

Also, not every one is buying the Binance earn crap. Like me 
I can't risk money for just peanuts, yet I can still just HODL BTC and earn way much more in a month.

[Anonylz]

@op did you really think earning %6 of investment in a year is huge amount to raise concern or result to a crypto bubble burst as you claim!
Maybe you should try out the Binance Earn' and see how lucrative it is,
Cz is committed to his business from what I have observe so far so I don't see why he would consider sabotage his own effort,
Bank is giving 0.2% because they are damn greedy and always have been, it is always about them and not their customers.

[DigitalFox]

Also, not every one is buying the Binance earn crap. Like me 
I can't risk money for just peanuts, yet I can still just HODL BTC and earn way much more in a month.

If you call it crap and peanuts I guess you have no idea. Binance offers excellent tools to those who either trade or want to earn while holding.