Is Binance becoming a monopoly of Blockchain

[BountyAirdrop 33]

With the acquisition of Coinmarket Cap and touring around the continents with different products, its recent debt/credit card that integrate directly to Binance exchange which makes crypto to fiat and vice versa become cheap and fast, are we not going in the way of monopoly which is against the main intention of blockchain revolution?   

[jamesvince 2389]

I read thorughly to acquired news of Coinmarketcap by the binance exchange. On that article said that binance exchange will not enterfare into central body of Coinmarketcap its work in routine so there is no monopoly of binance exchange on whole crypto market specially Coinmarketcap. 

[Lover840 0]

12 hours ago, BountyAirdrop said:

With the acquisition of Coinmarket Cap and touring around the continents with different products, its recent debt/credit card that integrate directly to Binance exchange which makes crypto to fiat and vice versa become cheap and fast, are we not going in the way of monopoly which is against the main intention of blockchain revolution?   

Well if you see out there are lot of crypto currency exchange which compete with the binance exchange so binance has not yet reached the stage of getting monopoly. But i do agree that binance is the top leading leading global exchang and it has the highest number of volume and holding a very large amount of assets. 

[rekter 8129]

12 hours ago, BountyAirdrop said:

With the acquisition of Coinmarket Cap and touring around the continents with different products, its recent debt/credit card that integrate directly to Binance exchange which makes crypto to fiat and vice versa become cheap and fast, are we not going in the way of monopoly which is against the main intention of blockchain revolution?   

Yeah it is, but binance has pretty much earned the place where it is now. It offered high quality fast altcoin trading site with ta possibilities, with the level of security like kraken, coinbase and bittrex. And the fact that they branch out with their research and binance academy.

 

And there will be new top exchanges that challenge it, and eventually they will make binance look like a dinosaur.

But at the moment it has a monopoly that is hard to overthrow.

[guatazoo 7150]

1 hour ago, UT2001 said:

There are of course lots of great exchanges out there but Binance is possibly the most powerful one I will agree on that and it seems they have endless amount of funding available as well. However I would not call that a monopoly just yet.

Binance is really biggest exchange that's everyone is trusting this exchange very well, I think binance us only exchange thats someone can afford to deposit more than 10000 bitcoins.

[scorpiali 5626]

Binance now it's on the way to become a trade market of crypto currency all over the world they work hard for that,After buying the Coinmarketcap and the wzirx exchange the biggest crypto exchange in India ,the binance monopole the major crypto world 

[guatazoo 7150]

4 minutes ago, scorpiali said:

Binance now it's on the way to become a trade market of crypto currency all over the world they work hard for that,After buying the Coinmarketcap and the wzirx exchange the biggest crypto exchange in India ,the binance monopole the major crypto world 

Till now the binance exchange is the only exchange thats have very high day trading volume than any cryptocurrencies exchanges thats you know,  while binance started 2017.

[Saj555 2250]

Binance is always in the number one position when it comes to the platforms. Because the platform has been in the top list for a quite long time. The programme and projects are quite impressive and trustworthy in the exchange platform. The platform is a great acquisition  for the blockchain. It will be always in the top list of great exchanges. 

[scorpiali 5626]

1 hour ago, guatazoo said:

Till now the binance exchange is the only exchange thats have very high day trading volume than any cryptocurrencies exchanges thats you know,  while binance started 2017.

Right they have just three years and become number one ,we have many exchange from a long time but they still in the same place like Bittrex 2013, Bitfinex 2012 ,Kraken 2011

[bliznec 22267]

I believe that if there are changes, then only superficial, not affecting many companies. I think that these updates will not be affected by the blockchain, as an indicator of cryptocurrencies. 

[scorpiali 5626]

4 hours ago, bliznec said:

I believe that if there are changes, then only superficial, not affecting many companies. I think that these updates will not be affected by the blockchain, as an indicator of cryptocurrencies. 

There is many exchange who don't follow the development of the internet and mobile phone they follow just other exchange and do what he do , I think Binance is like Bitcoin all follow it like other coins follow the bull run of Bitcoin

[bliznec 22267]

11 hours ago, scorpiali said:

There is many exchange who don't follow the development of the internet and mobile phone they follow just other exchange and do what he do , I think Binance is like Bitcoin all follow it like other coins follow the bull run of Bitcoin

Such people do everything possible to overcome the bar in the cryptocurrency quote. They monitor the course of bitcoin and weigh the trading volume of bitcoin.

[BTC Future 3946]

Most exchanges are centralized anyway, so their scope doesn't have to do about decentralization. Binance is growing bigger indeed. They manage to have more volumes than Bitmex and are indeed gathering most traders there. It might be an issue if they suffer something similar to MtGox, which would mean the market will collapse. I am sharing the same thoughts as the OP.

[magd 5231]

Binance platform will not be a monopoly of the Blockchain company, but the largest percentage of transactions take place between this platform and the Blockchain portfolio in addition to the emergence of Binance at the beginning of the encryption around the same time as the creation of the Blockchain.

[scorpiali 5626]

4 hours ago, bliznec said:

Such people do everything possible to overcome the bar in the cryptocurrency quote. They monitor the course of bitcoin and weigh the trading volume of bitcoin.

We can call working ,they work for her project and make it better more than other exchange ,and in final is good for the users of each exchange to have some competition between them 

[bliznec 22267]

1 hour ago, scorpiali said:

We can call working ,they work for her project and make it better more than other exchange ,and in final is good for the users of each exchange to have some competition between them 

I think of the percentage that users exchange sharing and invests. The higher the percentage, profit from trading, the more users.

[scorpiali 5626]

24 minutes ago, bliznec said:

I think of the percentage that users exchange sharing and invests. The higher the percentage, profit from trading, the more users.

Right ,That's why every exchange have a refferal system to bring more user to increase the percentage of profit for each exchange and also for user too

[Michael0606 861]

Probably since we saw that you bought from coinmarketcap, then binance may be becoming or already be a pioneer of blockchain, but it has competencies nonetheless.

[malik6314193 5449]

Yes bianace is very good exchange in crypto world. And it is leading the whole market. It is due to their good project and security system. You can get your money back if it is hacked in your bianace account. 

[IamLeader12 682]

I think it won't last long and Yobit will challenge the Binance exchange, they are already working on it and I think they will succeed.

[jacker 1095]

The issue of exclusivity I don't think it will exist like that. Compared to other exchanges, binance is somewhat more powerful and workable but does not mean it is proprietary. binane everything in it is perfect in the largest volume. I like it and its use does not worry me. I have used it for almost 3 years and have never regretted it.

[ComeBackIsrael 185]

Even if Binance takes over most of the market any user can use any exchange that they like, they do not have to use the Binance exchange and the Coinmarketcap site because there are many analogues that are no worse.

[MCSGlegend 2210]

Yes, perhaps Binance will become a monopoly and make its own rules, but then most users will leave this exchange, and then it will die.

[iloveyobit 6599]

I do not think that will happen, traders are the debt controlling the market, they are the ones who make the value of any platform rise and fall also at the same time, any mistake from the Painans platform and will be abandoned by traders.

[NevermindNe 549]

Perhaps Binance will become a monopoly, but then other exchanges will try to be similar to Binance, make low commissions and so on, I believe that this will only improve the lives of users and there will be a lot of concrurating exchanges.