Why the hate on binance exchange

[odukoyaewatomi27]

The thing about being a very big company in any field is that you become a main target for competition and binance isn't left out.
Binance is making big moves in the cryptocurrency space and sometimes the innovative ideas may be too destructive for a country that is naturally resistant to change, but i have faith binance to scale through their challenges

[TomArayaSlaya]

Biggest exchange in the world with basically an income that far better than some non crypto companies and possibly avoiding tax and acting offshore in some countries Highest trading trading volume biggest leverage I mean come combine the simple alphabets and you will know that basically they are attacking crypto or us in style but we will keep standing then now and forever

[tabas]

Binance is a huge amount of money capable of even manipulating the market both in a speculative aspect and in a psychological one. There is only one real reason - money.
This is the flagship that sets the direction of stock trends. Of course, other exchanges are not happy that Binince have so much influence and allocate a lot of money for FUD.

I think I've seen that competition and hate by other exchange for Binance. But to mention the hate, it those countries or some officials of it that don't see the significance of Binance.
But even if they dislike it, they prohibit it. Binance is already huge and can manage to operate to other countries since there are other huge markets that they have to be there.

[dotcoin.info]

Binance is the number 1 exchange, it is obvious that it has very large and influential competitors, which means that competitors have a lot of money and desire to take Binance from the first place.
I'm not surprised that more and more FUD appears about Binance.

[ranaprime]

I didn't find any one who dislike binance exchange. Though there are some allegations on binance form different aspect. The most common allegation was kyc system. Binance give the facilities to use this exchange it's users without KYC but now they change their rule. From now every one must pass the kyc verification system.

[bitcoin-shark]

too much success of binance can bother some, many states are in fact annoyed by this and try to put more and more stakes on binance activities on their territories in an attempt to be able to make them pay some tax or have some revenue but for now binance is not it seems to suffer negative effects from these little local troubles

[trauchot]

I dont know any binance exchange user who would not be happy with this cryptocurrency exchange and I also have been using this cryptocurrency exchange already very long time and have not had any problems with this exchange, well, of course, binance exchange has competitors and they hate binance exchange, but how we see binance exchange has been the most popular cryptocurrency exchange already long time and I am sure that in the future binance exchange will also be the most popular exchange, but the hate on binance exchange of course will only increase among binance's competitors, but this is not a problem for binance, how we see.

[simpelplan]

binance is the top exchange in the cryptoqurency market in fact I think most of us have traded there too. therefore I am not surprised to hear a lot of negative news about this exchange even though we know that every exchange project is trying to overtake Binance's current position in various ways. but for sure I believe that Binance Exchange cannot be matched by other exchanges.

[Fredomago]

Binance is the number 1 exchange, it is obvious that it has very large and influential competitors, which means that competitors have a lot of money and desire to take Binance from the first place.
I'm not surprised that more and more FUD appears about Binance.

For sure there are many other ways to try putting down this business, with so many competitors who wanted to be on top we will expect to see more drama within this field.

Though CZ is doing everything that he can to make sure that it will continue in terms of business and they will not give up.

Lots of pressures that needed to adjust to the point of requiring verifications, but to those who love this exchange they are willing to embrace this actions and they continue to support and use this exchange.

[brooksby]

Binance is a huge amount of money capable of even manipulating the market both in a speculative aspect and in a psychological one. There is only one real reason - money.
This is the flagship that sets the direction of stock trends. Of course, other exchanges are not happy that Binince have so much influence and allocate a lot of money for FUD.

I think I've seen that competition and hate by other exchange for Binance. But to mention the hate, it those countries or some officials of it that don't see the significance of Binance.
But even if they dislike it, they prohibit it. Binance is already huge and can manage to operate to other countries since there are other huge markets that they have to be there.

The hate goes hand in hand with all the problems Binance has and what I believe is that the crypto community is a bit disappointed that Binance now becomes massively regulated, applies software to track user transactions down and will most likely forward all our data to legal authorities and regulators. Binance was one of us all the time, stood for decentralization movements even though Binance itself is centralized. But it did so much for the market and the community and all those efforts will now come to an end to some degree. Maybe that is where the hate comes from.

[lenovop-70]

Binance's popularity as the world's largest crypto market attracts a lot of people, even to people in restricted areas to access cryptocurrencies, i think thats why Binance is so much sought after and hated. The tax problem also makes the government dislike Binance because they can't get taxes from the people who make transactions there because Binance is outside their area.

[alexeyneu]

at least they have free bsc tesnet coins. where buterin can't supply its faucets

[bakasabo]

Binance's popularity as the world's largest crypto market attracts a lot of people, even to people in restricted areas to access cryptocurrencies, i think thats why Binance is so much sought after and hated.

But I think that Binance is hated for their recent changes in politics and all that "attack" from government and financial institutions.
Previously for a regular trader, trading limit of 2BTC/daily without passing KYC was more than enough. Now, after they reduced that to 0.06 BTC, start to force passing KYC or bribe (this week they give $500 voucher if a freshly registered users passes KYC). Also all that restrictions to use Binance in particular countries and Binance doing nothing against it. This all looks like they try hard to keep user funds on exchange, while risking their reputation. And we all know how such things might end. You have funds on exchange, and exchange is locked for unknow period.

[stadus]

But I think that Binance is hated for their recent changes in politics and all that "attack" from government and financial institutions.
Previously for a regular trader, trading limit of 2BTC/daily without passing KYC was more than enough. Now, after they reduced that to 0.06 BTC, start to force passing KYC or bribe (this week they give $500 voucher if a freshly registered users passes KYC). Also all that restrictions to use Binance in particular countries and Binance doing nothing against it. This all looks like they try hard to keep user funds on exchange, while risking their reputation. And we all know how such things might end. You have funds on exchange, and exchange is locked for unknow period.

Binance is hated by competitors because they feel like Binance had it easy and just escaped jurisdictions every time regulators started chasing them. Binance is hated by pure users because their CEO keeps talking about decentralization and ethics when he is the most centralized crypto business out there.

$500 vouchers for KYC? That's part of why they're hated. But you know, others did that too.

I wish I had not verified my account yet so I can enjoy that voucher amount, lol.

Actually, Binance got a lot of promotion and they are taking care of their reputation that's why they are way ahead against their competitor.
When they purchase CMC with a huge amount, we thought it was a crazy move but it turns out it really help them to grow more as they can use that advertisement to make the exchange more popular.

look at the disparity of the trading volume compared to other exchanges.

https://coinmarketcap.com/rankings/exchanges/

You can tell they are dominating the market.

[Emmychris]

Success crypto projects even exchanges like Binance will take a long time, I believe CZ is doing the best in the crypto space, having the biggest investors with the best crypto market caps since 2018, although we have seen some negative news about Binance Exchange but I still believe that exchange will always been on top exchanges for a long time.

Binance got so many users which love thier exchange and will always love to continue using it for trading, I don't really know why hatred is being spread towards the Binance exchange, well maybe it has gone against some rules of the government or maybe has done something which annoyed most users, well I really don't know but for me the Binance is a good exchange and wish their system continues without facing any challenges.

[bitcoin-shark]

unfortunately i had to change my mind and change my opinion binance has bowed to the will of the various governments / states and will become an exchange that can only be used if the kyc procedure is carried out, too bad it was one of the best on the market

[brooksby]

But I think that Binance is hated for their recent changes in politics and all that "attack" from government and financial institutions.
Previously for a regular trader, trading limit of 2BTC/daily without passing KYC was more than enough. Now, after they reduced that to 0.06 BTC, start to force passing KYC or bribe (this week they give $500 voucher if a freshly registered users passes KYC). Also all that restrictions to use Binance in particular countries and Binance doing nothing against it. This all looks like they try hard to keep user funds on exchange, while risking their reputation. And we all know how such things might end. You have funds on exchange, and exchange is locked for unknow period.

Binance is hated by competitors because they feel like Binance had it easy and just escaped jurisdictions every time regulators started chasing them. Binance is hated by pure users because their CEO keeps talking about decentralization and ethics when he is the most centralized crypto business out there.

$500 vouchers for KYC? That's part of why they're hated. But you know, others did that too.

I wish I had not verified my account yet so I can enjoy that voucher amount, lol.

Actually, Binance got a lot of promotion and they are taking care of their reputation that's why they are way ahead against their competitor.
When they purchase CMC with a huge amount, we thought it was a crazy move but it turns out it really help them to grow more as they can use that advertisement to make the exchange more popular.

look at the disparity of the trading volume compared to other exchanges.

https://coinmarketcap.com/rankings/exchanges/

You can tell they are dominating the market.

That's actually a cool idea by Binance but I just read the article they posted about it and I am not sure whether the offer is even so attractive? You get the $500 in a savings account and can let it earn interest for a 7 day period, then the principle is cancelled and you can keep the interest. Anyone has a clue about numbers here? Are calculations even possible?

[carlfebz2]

I wish I had not verified my account yet so I can enjoy that voucher amount, lol.

Actually, Binance got a lot of promotion and they are taking care of their reputation that's why they are way ahead against their competitor.
When they purchase CMC with a huge amount, we thought it was a crazy move but it turns out it really help them to grow more as they can use that advertisement to make the exchange more popular.

look at the disparity of the trading volume compared to other exchanges.

$500 isn't a small amount at all yeah, more than a month salary at a very very good job where I am if you count it like that.

But Binance got ahead as I said through very aggressive marketing and they poured a lot of their profits into growing, plus Binance Smart Chain, very smart move. But you know what they say. You have to play by the rules of the elite or you'll find them closing in on you.

They do know on what theyre doing and that what makes them big and yes i do agree that they are really that aggressive on the marketing side which do gives out best user experience on using up a platform
which i cant really deny.

Soo much hate? Everything could really have their own bad experienced but most of the time i dont really see the reason nor some points on why Binance should be hated. There might be some issues but those
are just for temporal.

UI/UX are great plus the perks and bonuses you could get which we can definitely say that they are much more better compared to other competitors.

[stadus]

I wish I had not verified my account yet so I can enjoy that voucher amount, lol.

Actually, Binance got a lot of promotion and they are taking care of their reputation that's why they are way ahead against their competitor.
When they purchase CMC with a huge amount, we thought it was a crazy move but it turns out it really help them to grow more as they can use that advertisement to make the exchange more popular.

look at the disparity of the trading volume compared to other exchanges.

$500 isn't a small amount at all yeah, more than a month salary at a very very good job where I am if you count it like that.

But Binance got ahead as I said through very aggressive marketing and they poured a lot of their profits into growing, plus Binance Smart Chain, very smart move. But you know what they say. You have to play by the rules of the elite or you'll find them closing in on you.

They do know on what theyre doing and that what makes them big and yes i do agree that they are really that aggressive on the marketing side which do gives out best user experience on using up a platform
which i cant really deny.

Soo much hate? Everything could really have their own bad experienced but most of the time i dont really see the reason nor some points on why Binance should be hated. There might be some issues but those
are just for temporal.

UI/UX are great plus the perks and bonuses you could get which we can definitely say that they are much more better compared to other competitors.

I'm sure this kind of bonus will not be approved as I'm pretty sure they have strict rules to protect their interest. I have not made any research regarding the bonus since I cannot avail it anyway, but I'm just curious, has anyone here withdraw the $500 voucher equivalent to money?

[stomachgrowls]

I'm sure this kind of bonus will not be approved as I'm pretty sure they have strict rules to protect their interest. I have not made any research regarding the bonus since I cannot avail it anyway, but I'm just curious, has anyone here withdraw the $500 voucher equivalent to money?

Talking about that 500 BUSD Savings trial Fund voucher?

You can read up terms on here:
https://www.binance.com/en/support/announcement/b82e5eddc72047fda55f720a49a7bdbc

or simply read this up

Terms and conditions:
Users will receive a 500 BUSD Savings Trial Fund Voucher after they complete Intermediate Verification.
The reward will be sent to the user's Binance account > Reward Center within 3 days after account verification.
Users will have 3 days to redeem the reward, and the 500 BUSD Savings trial fund will enable the users to earn Savings interest over a 7-day period after redemption.
The Savings trial fund is not withdrawable nor tradable. For more details, click here.
Binance reserves the right of final interpretation of the activity.