Binance a new Chinese exchang / coin.

southerncross

southerncross

Well-Known Member
Silver Stacker
Mentioned this one a couple of times on a couple of different threads.

I signed up for the ICO and was all ready to put some ETH into it but found the website/exchange a nightmare to get through as just signing into it was a process of Captcha entries similar to what Bitrezz has at times...But all in Chinese.

They seem to have that sorted now and I can get onto the exchange easily enough.

Picked myself up some BNB on there the other night and am already up nearly 70% in a couple of days.

No fees, and a number of trading pairs already with more on the way instead of just ETH and BTC as your base and the regular hoops you have to jump through.

They are involved also with NEO in that the Ceo's of both are well connected and look to do ICO's with NEO and rapidly introduce the new coins on Binance as a trading platform.

It has already climbed up the coinmarket cap chart quickly over just the last two days and doesn't look like it will be going backwards at all.

Original price was about ten cents and it is now trading at .545 already and gone up to 78 on the top 100.

I think this will rise along with NEO as a homegrown Asian exchange that has approval of the Chinese Govt and is focused on exploiting the Crypto market right across Asia.
 
Up a tad under %140 in the last 24 hrs and now sitting at #50 on Coinmarketcap, this sheet is crazy. Current reserve bank Cash interest rate is %1.50 and this thing has gone up over %1000 in the last week.
 
Didn't manage to get some $BNB, but I did buy some $BTM. Looks like a homegrown project from 8BTC.com so I'll check back on that after a year.
 
Congrats. Good call again. You had flagged this one some time ago.

I just saw another vanilla exchange using ICO to fund raise when they probably didn't need to ICO. I still don't think they're doing anything new or innovative, but if they're in a growing market so all boats rise I guess?
 
Anyone remember this one ? Aug 13th last year it was about .50 cents U.S, now about $21.00 U.S each.
Go do some sums on what just a $1000 dollars would be worth now for you compared to back then.

It might seem stupid, but it is so far a real gain that is only getting bigger, so why not take advantage of it while you can ?
 
switchtronics said:
U think still good buying southern?
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I thought it was back then M8 but I would wait for now. I like the trading site but reckon you could get a good 25% pullback soon.
It just needs one problem or bad news for a decent retreat, But it is a solid trading site.
Could just keep on going but keep an eye out for a decent entry is my advice for what it's worth.
 
I was a sceptic when southerncross first suggested it to me. It just looked like another exchange (and there are plenty) and it seemed to be an existing business doing an ICO just for the sake of raising money rather than using venture capital. It was also getting hype because it was "Chinese" and everything relating to China was catching a bid. It was a purely speculative play back then and I could not see any real innovation.

What I overlooked was the usage of the token. Using the token to pay fees on the exchange is a clever idea and it is now getting a lot of traction with others doing the same.

Today Binance has a value proposition because the 2 biggest alt-coin exchanges are struggling with demand. Poloniex is having lots of issues and can't stay on top of support. Bittrex has become so popular they had to stop taking new accounts (WOW). So the overflow has spilled into Binance because it has a very slick interface. We also now have Poloniex and Bittrex pushing KYC regulations on customers and reducing withdrawal limits, while Binance has a 2 BTC withdrawal without any ID. Turns out being in China might be a bonus after all as they'll be out of reach of the USA tax changes and won't care about non-compliance.

So I bought some at around $8 and am using the exchange now. I also really like the fact they have almost as many ETH trading pairs as BTC. To me this is the way we need to go with BTC fees so high. It has real utility and a competitive advantage in this current market circumstances. Very different prospect to when it was a purely speculative ICO for me.

 
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dozerz said:
binance now closed for new accounts, bittrex and cryptopia also.
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Read that yesterday too which tells me there is a boatload of new people with fiat waiting on the sidelines to get in :D

Binance has begun the number 1 platform, and after using it myself I can see why

As others have mentioned, 2 BTC withdraw limit per 24 hours without ID, heaps of alts to choose from and like Bugged I also use the ETH pairs and avoid BTC
 
This is not so much an fiat currency trend as it is an alt-coin trend. Binance does not trade fiat.

For those interested in this new wave of alt-coin exchanges I have been looking at it. A lot of spillover is now happening into KuCoin exchange :-

https://www.kucoin.com

(I just bought some RaiBlocks on KuCoin and it's interface is slick - very similar to Binance)

Plus also an even smaller player which has been on a tear lately COSS :-

https://sso.coss.io

COSS has tripled in the last 36 hours since I bought them. Their interface was a bit slow but apparently an upgrade is in progress.

Both have trading pairs against ETH and use their token to pay for trade fees. I suspect they are both catching a massive bid because of the demand at Binance and the fact it has closed new accounts so there will be spill-over.
 
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Looks like my post has been edited to remove the referral links.

It's one thing I guess I've taken for granted using blockchain tech like steem, there is no central power to moderate or censor you. Nobody can modify what you put on the block except you.

If anyone is ever looking for me (for whatever reason) that's where you can find me.
 
BuggedOut said:
Looks like my post has been edited to remove the referral links.

It's one thing I guess I've taken for granted using blockchain tech like steem, there is no central power to moderate or censor you. Nobody can modify what you put on the block except you.

If anyone is ever looking for me (for whatever reason) that's where you can find me.
Click to expand...

As I explained via private message, posting of affiliate referral links by members has never been permitted. As you did not remove them after being notified and responding, I did.

Just like a distributed ledger, this forum has costs and income to offset them. Rather than receiving mined coins and transaction fees in exchange for mining power bills, this forum receives advertising, membership and affiliate income in exchange for hosting and software bills (and tax assessments - behind the scenes it is a business, not a collective). Allowing individual users to post affiliate links for websites whether Silver Stackers is actively promoting that particular affiliate scheme or not has never been permitted, which is why there is a dearth of them on here.
 
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