Review on Binance Coin by thanh hao

Name: Binance Coin
Item: Binance Coin
Rating: 5

September 18, 2018

From a Westerners point of view.. Customer service is very poor, ICO's still…

From a Westerners point of view.. Customer service is very poor, ICO's still only provide majority of details in Chinese, Social media interaction isnt frequent enough. I think these are my major short term concerns but none of them should be too hard to fix up (however are essential to the long term growth of the company), im a big believer in Binance and BNB but its only fair to list some of the negatives too.. From a Westerners point of view.. Customer service is very poor, ICO's still only provide majority of details in Chinese, Social media interaction isnt frequent enough. I think these are my major short term concerns but none of them should be too hard to fix up (however are essential to the long term growth of the company)
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Pros

Binance is known for its fast transaction processing as well as its low trading fees (0.1%). The Binance technology is capable of processing 1.4 million orders each second. But having to go to the slack sort of defeats the purpose, you dont want to have to be going into Slack to get customer service. Their exchange is their shop window and you want the customer service on the exchange to be decent.. which at the moment its sadly not. I have not been this impressed with a founding squad in a while. In addition to their competence and ability, they are diverse in nationality, language, and profession. CEO Zhao was born in China but attended high school/college in Canada and is bilingual. CTO Wang is fully trilingual. Both Hofbauer and Jankunas have worked with CZ and are both familiar with Japanese/Chinese crypto and exchange services. This certainly looks to be a good fit!

Cons

Based in China, so it’s unclear how recent regulatory actions by the Chinese government may impact the exchange, It is an interesting point you make tho, they could possibly choose to hold on to the BNB tokens they received from transaction cost and choose to flood the market prior to a buyback, then subsequently pick up the tokens they have to burn at a discounted price. Hopefully there is some transparency or detailed information on how they will handle BNB tokens they have on hand. It does seem that they can possibly manipulate demand and supply by controlling the amount of tokens they have on books, since they would have a steady supply of tokens on their books. In this case I need to know what are the incentives for the exchange not to cheat.