Is Binance becoming a monopoly of Blockchain

[bitcoinb 1359]

On 4/30/2020 at 11:52 PM, BountyAirdrop said:

are we not going in the way of monopoly which is against the main intention of blockchain revolution?   

I agree with you about this point, I think it's against the ideology of blockchain. I have never liked their marketing strategy and even less like their expansion strategy. I am thinking of boycotting them (question of principle).

[Jeet Narayan 1940]

Binance exchange is acquiring big crypto projects . Now binance is being big crypto company . Binance is growing very fast and lunching more platforms . Binance is wanting monopoly on crypto market .

[DreamStage 2105]

I do not think such kind of monopolying is happening under our noses.

 

Just because they bought a part of Coinmarketcap doesnt mean it's something that would make it a monopolized exchange.

 

They just want to get more investors so that Binance exchange prospers even more and that's the feeling that you will see and relate it to monopoly.

[Raqeebzy 6456]

As much as I believe Binance dominance is unhealthy for the Crypto world, they actually deserves to be ranked the best exchange the crypto community ever has. With security issues in the past, it still maintains the top spot with the likes of Bitfinex, Kraken, Bitmex and coinbase presence in the market. Although, I don't support it for credibility based data ranking, with or without CoinMarketCap acquisition, Binance still remains the top exchange.

[Virgil dijk 1431]

Binance exchange has become very successful and it's has created many good features which has helped members to work with crypto easily, so I don't think it's becoming a monopoly of blockchain.

[Whited35 15285]

19 hours ago, Raqeebzy said:

 Although, I don't support it for credibility based data ranking, with or without CoinMarketCap acquisition, Binance still remains the top exchange.

Here is the point 😊!So after owning CMC by Binance, we are noticing some genuine features and Binance is in top ten list.I also believe they are  improving algorithm for the ranking systems. So here are so many reasons due to them, I give priority for Binance in the crypto world.

[cooperallch 349]

I already thought the same thing about it, Binance is practically complete, in addition to having acquired the largest cryptocurrency capitalization site, they practically offer all possible ways for people to buy cryptocurrencies, whether by debit card or credit as P2P, really it is becoming a monopoly

[mattsett 120]

Binance has been dominating the world of cryptocurrencies for some time, first it is the most used and most influenced exchange among cryptocurrencies, with the acquisition of coinmarketcap the exchange only gained more visibility, the exchange has its own blockchain, no doubt it is a monopoly

[VovaCoolLol 23]

Binance has huge volumes but it is not a monopoly. Still, if Binance will shut down due to attacks/hacks (i hope this won't happen), the cryptocurrency marketplace would show huge loss of capitals and we will be able to see BTC with a -50 or -70% discount.

[Anton739 48]

Well. I don’t think that they will overtake the exchange market. Because there are many other good services. It can’t be like that, that all the people are gonna use only Binance. For example yobit is very good as well.  So that’s my opinion. 

[Pusha 28]

Not exactly. Binance is just a very large exchange with a large capitalization. Most exchanges strive for Binance volumes and even surpass them (for example, Bitfinex). Yes, I agree that Binance has a very convenient system for buying bitcoins and altcoins, but progress does not stand still.

[felipe isaza 15]

 

I believe that investments like binance are only for comorae and sell coins but to keep them there are no cold wallets for that (do not leave your long-term investments in exchanges)

[CoinFree 54]

On 4/30/2020 at 5:52 PM, 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?   

Binance in a couple of years could be more than a pillar for the crypto industry and ecosystem.

they have thought of everything

[Essaouira20 210]

Not at all Bitmex has also big position here its also a Giant.

[fzdesign 50]

Not because there are many more options than binance, so you still have competitors and you are not monopolizing the whole market 

[CoinFree 54]

Binance has known how little by little to take over the most favorable ecosystem services

It is something like facebook buying from WhatsApp or instagram

7 hours ago, fzdesign said:

Not because there are many more options than binance, so you still have competitors and you are not monopolizing the whole market 

I would not know whether to call it a monopoly because although they do not have direct competition (at times we can believe that it could be Kucoin) Binance integrates well with the rest of the platforms outside its ecosystem

[Cryptonix 135]

Binance is a good exchange. But in the current environment, I doubt that she can claim a monopoly on the cryptocurrency market.

[daisonsolis 19]

IT is one that has grown during these last years giving that since it was created it had a goal of being a great one in the world of cryptocurrency exchange

[Hfaragon33 29]

On 5/9/2020 at 8:25 PM, NevermindNe said:

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.

Intresting ponit but the model of binance its condemned to end soon or later in correlation with the awakening of the people, yes people got to wake up!! Descentralized exchanges are the future please realise, use binance but they have you catched with all your personal information

[Fortnite2020 49]

5 hours ago, Sergio Alessandro said:

binance se esta convirtiendo en una de las mejores casas de cambio del mundo, tiene un gran volumen con sus monedas, y su mercado es excelente, la interfaz de su sitio web es hermosa y simple de usar, en binance puedes guardar tus monedas y al mismo tiempo tiempo de entrenamiento

really bianca is a very complete exchange .. difficult to get over it
It is the best exchange in the world for me.

[Hear80 122]

Binance es cierto puede monopolizar un poco el marcado por si infraestructura pero habrán otros Exchange que van a competir seguro,  con comisiones más bajas seguramente e infraestructuras igual de potentes. 

[valvaltv 252]

I think that in the world of cryptocurrencies it is difficult to monopolize something. In the case of the binance a competent strategy for the development of the project probably just worked. Most likely, if binance captures some part of the market, it will be justified by the quality of the services they provide.

[Manuel Cortes Hernandez 295]

With the constant development of crypto currencies, Binance management has been creating new opportunities to attract operators with different needs. One step ahead of its other competitors, Binance last year announced an expansion in Latin America.

 

Yes, Binance launched a year ago the Latamex crypto currency exchange platform thought for Latin American users, the presentation took place at laBitConf in Montevideo, where they announced that users could buy directly different crypto currencies such as BTC, ETH, BNB and BUSD with Argentinean pesos and Brazilian reais.

 

With payments through the Settle Network, a network for the settlement of digital assets in Latin America, the platform would be available for Brazil and Argentina initially, but is currently available for most Latin American countries such as Mexico, Uruguay, Colombia, Panama, Costa Rica, Dominican Republic, Chile among others.

 

"Latin America has a great need for crypto-currency: half of its population does not use banking services. The collaboration with Settle Network will simplify the purchase of cryptomonies for Latin American merchants. In the future, we will support other local trust currencies in this region," said Binance CEO Changpeng Zhao.

[kidblinblin 24]

With the launch of Binance Smart Chain the new blockchain is a parallel chain to Binance Chain that will allow the creation of smart contracts and a participation mechanism for its own token, BNB. In essence, it sounds exactly like ETH 2.0, which is still a long way off despite recent advances.

[chinox2020 11]

So far, the binance exchange is the only exchange that has a very high daily transaction volume than any cryptocurrency exchange, in the same way The Binance platform will not be a monopoly of the Blockchain company, but the highest percentage of transactions is carried out between this platform and the Blockchain wallet.