1 Level
2 Review
1 Karma
Review on Binance Coin by Eduardo Hernández
Binance quickly positioned itself as one of the most popular exchanges in the…
Binance quickly positioned itself as one of the most popular exchanges in the ecosystem. Unfortunately, they copied and reproduced the same bad practices of other exchanges. Their support is very bad, their token is constantly manipulated -though it has no value outside of Binance,- the exchange doesn't listen to their customers in terms of UX/UI improvements or fixes and their subreddit is blatantly censured. That, plus excessively high withdrawal fees for most tokens.
This token is not a good long term investment, considering that centralized exchanges will be challenged by new decentralized exchanges. I would only recommend it as a short term trade.
Pros
- Utility token, it gives you better fees in Binance. You can use it as a trading pair to purchase other cryptocurrencies. Steady growth token.
Cons
- Artificially inflated price. It has been heavily manipulated by the Binance team by releasing "exclusive airdrops" for top BNB holders. Highly volatile price makes it a very bad trading pair. No utility outside of the exchange. Not traded -significantly- on other exchanges.
