1 Level
1 Review
4 Karma
Review on Binance Coin by C Rypto
This bad boy is chalked up with volatility and flying high. Buffet 101 if you…
This bad boy is chalked up with volatility and flying high. Buffet 101 if you use it own it. Lots of traders going all day 24/7, which means the best liquidity. Right now its the best place in town and who wouldn't want to own a piece of that.
Pros
- Binance has managed to grow at breakneck speeds. It has recently announced a its intention to develop a blockchain which will support a decentralized exchange. If DEX is the next frontier Binance is taking steps to retain its large customer base. If successful this new venture will add additional value to a token that already has demand and an actual use case which is pretty rare in this industry.
Cons
- A recent attack on trading bots within the Binance exchange was thwarted and the trades were reversed. Being an actual exchange opens the underlying token to these actual risks. If it was successful there would be loss in trust which could prove catostrophic. Binance is based in Hong Kong and it’s servers are located in South Korea. Hong Kong while taking a lead approach in FinTech, still is under China's rule. There are increasing risks regarding trade with the US as well as crypto in general.
