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Is Binance Taking Over Crypto?

by Alan Daniel

“Better to disrupt yourself than waiting to be disrupted”. – Cz Binance

While this was a tweet sent out in regard to a different company, this is exactly what CZ and Binance practices and this is evident in its actions and services.

Indeed, it does look like Binance has grand ambitions to take over the cryptocurrency sector, to become the Amazon of cryptocurrency. Yes, the team at Binance does seem as if they move at a rapid pace, with a kaizen approach, that helps them bulldoze through problems and create a better experience for their customers.

The exchange stepped onto the cryptocurrency scene in 2017 and has moved forward with full force, even in the midst of a sleepy bear market. The exchange continues to positive trading volumes and leads the industry in transparency.

So, how is Binance taking over the cryptocurrency sector?

Let’s find out.

The Value of Exchange
Due to the nature of speculation, exchanges play a central role in the cryptocurrency industry.

Without exchange, without the possibility for digital asset appreciation, the industry might not have the numerous entities that it has today.

Retail investor interest may also vanish without the possibility of exchange, gains, and capital appreciation.
As such, an entity like Binance, serves a key purpose, it does a needful activity, and it does it well. It certainly acts similar to Amazon, providing mainstream and expert users with simplicity, convenience, and low costs.

The exchange also promotes loyalty with its BNB token, allowing customers to save in fees while expanding token uses.

That’s the foundation of Binance, let’s take a look at some of its ancillary activities.

IEO Leader
ICO’s are gone but IEO’s are here. This allows more companies to get involved in the blockchain industry while raising funds to carry out their operations. In addition, this allows for more ways to speculate and potential rapid capital increase.

Binance Chain and Binance DEX
The company has created its own blockchain and placed its DEX on top of Binance Chain.
Trust Wallet
Binance recently acquired Trust Wallet and now uses that as the official crypto storage facility for Binance users.
Margin Trading
Like to trade but don’t have enough funds to maximize your gains? Binance has a solution for that. Margin trading. This recent beta testing program initiative will allow users to trade on margin, allowing for larger gains.

Binance Stablecoin
Despite a sea of stablecoins, Binance still sees opportunity and has plans to launch its own stablecoin. This stablecoin will be tied to the British pound, is still in the works, and will only be launched in the near future, according to CFO Wei Zhou.

Fiat-On Ramps
While still expensive, Binance users may purchase Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, and Binance Coin, with a credit card. Binance and its partnership with Simplex provide for this option and allows for potentially seamless purchases of these digital assets.

Is Binance Taking Over?
Located in Malta, the exchange is an important part of the sector. Will it take over crypto? We are still in the early days, the cryptocurrency industry is still getting started, and there’s still a long way to go. Binance has a strong lead and may retain it for some time. Competition is still present in the cryptocurrency sector, and users still have options such as decentralized exchanges.

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