Since its debut, Binance has placed great emphasis on security and investor protection. To this date, the exchange remains in a prestigious group of exchanges alongside Coinbase and a handful of other exchanges of not having suffered a single hacking attack or a security breach since its inception.
Interesting @binance, a slightly regulated exchange, has also become the most reliable cryptographic exchange among actual users. You can not build trust by buying government licenses / rubber stamps. https://t.co/1OXkskgHAr
– Su Zhu (@zhusu) December 23, 2018
The survey was conducted by Beaxy, an encrypted exchange, with the idea of trying to gather the opinions of investors on which cryptographic exchanges trust most between Coinbase, Binance, Bitmex and Okex. The poll attracted 11,581 votes with the Binance cryptography exchange, marking 63% followed by Coinbase at 31%.
Binance, originally from China, moved to Malta, among other countries, when the Chinese authorities have criminalized cryptocurrency activities in the country. However, the camp in Malta does not exempt the exchange from the strict regulations of the country, since Malta falls within the jurisdiction of the European Union.
It also manages strictly regulated fiat-to-crypto exchanges in Uganda and soon in Singapore with the support of the Singapore authorities and local financial institutions.
Binance could be described as a slightly regulated trade compared to trade in the United States that must comply with strict policies, but its ramps in Uganda and Singapore are strictly regulated as fiat-to-crypto trade in major markets such as states United, South Korea and Japan
Furthermore, Binance's cryptic exchange has invested heavily on investor protection. He also sought the services of a blockchain data analysis company, Chainalysis, to find out the portfolios that might be involved in fishing business.
The CEO of Binance confirms that XRP will be added as a base pair
With that news, come another. Changpeng Zhao, CEO of Binance, has always been very shy with his statements about the possible XRP listing on Binance as a base pair.
CZ is very active on Twitter and occasionally responds to people who tag it by asking a wide range of questions (mostly nebulous suggestions on what to list or how to run their business).
We will add a couple of trading pairs with XRP as a short-term quote currency.
And rename the ETH markets in the ALTS market. Running out of space on the user interface.
– CZ Binance (@cz_binance) 24 December 2018
Decoupling, in a nutshell, is exempt from Bitcoin's influence: it is a well-known fact that most of the altcoins and their prices strongly depend on bitcoin price movements. Every time the bitcoin hibernates and goes into crisis, the altimetric blocks crash even more strongly.
As this news broke, the XRP began to rise, finding the legs while Zhao made the announcement above. At the time of writing this article, Ripple's asset go-to-business is currently valued at $ 0.44 a pop, with an increase of 11.5% more on the back of the Binance news . Considering the hegemony that Binance has established on this nascent market, many optimists are convinced that the digital asset will be successful in the short to medium term.
Zhao (CZ) expressed deep confidence in the prospects of cryptocurrency despite the difficult conditions in the sector that defined most of 2018. Two days ago, during a conversation with "Bloomberg Daybreak: Middle East", he hosted Tracy Alloway and Yousef Gamal El-Din, he also said that Binance intends to start the new year "with a bang" in line with the company's bullish prospects on the sector.
In his words:
"2018 was a difficult year in terms of prices for cryptocurrency, and we see that many projects have not done this year, so it's a year of correction, but the technology will remain, and we would like to give the start to 2019 with a bang … So I think the people in the industry are still very confident about the future so there are no worries about it. "
Despite the upheavals and uncertainty of the market, he said, Binance is still very aggressive in pursuing his ambitions, to which the company has set new milestones in the coming year. One of these milestones, Zhao revealed, is a plan to launch its decentralized exchange next year to allow more freedom for its users.
Speaking further, he said that Binance welcomes regulatory involvement in the cryptocurrency space of all governments around the world, provided that there is sufficient clarity to combat current uncertainty. In his opinion, good and sensible regulations will promote rather than hinder innovation.
We have already written about how he explained that the current cooling of the ICO market is not a bad sign, as the market is still maturing. And many projects are now focused on providing real products, services and tokens, in order to attract investors. The arrival of institutions "could be a very strong trigger", according to Zhao.
It is also worth noting that yesterday, Binance together with the blockchain operating system, Tron is lending huge funds to charity.
In the latest tweet, Justin Sun, the founder and CEO of Tron Foundation has proudly announced that Binance and Tron is the most recent platform on a list to donate $ 100,000 in Crypto to the Charity. Tweet mentioned it as follows;
– Justin Sun (@justinsuntron) December 23, 2018
Still on top for the Exchange trading volume
Unlike many other industries, including healthcare, banks and government, Blockchain technology could help solve the problem of transparency in charity. Justin referring to what CZ said about helping the needy through charity, emphasizes that blockchain technology is an aspect that helps to eradicate the problem of transparency.
Chain Open Research (COR Index), the New York-based company that conducts analysis of activities in the cryptocurrency markets, published its second report examining how crypto exchanges are doing month by month, digging into a number of different metrics.
The report begins by analyzing the volume that each exchange exchanged between November 15th and December 15th. In it, Binance is confirmed as the main exchange of cryptocurrencies with a total trading volume exceeding $ 20 billion within the month. More significantly, this is an increase of over $ 2 billion compared to the previous month and was a very similar story with the next best performer, as even OKEX saw a similar increase in volume over the same period.
With all this in mind, it seems that there is no false statement that the Binance cryptocurrency exchange is the most reliable among investors in the sector. Among the concerns for the bear market and the incessant barrage of cyber attacks, hacks and security breaches against cryptocurrency companies, only a few companies managed to keep their heads out of the water and at the same time gained the trust of the community.