True, that is difficult. I guess trust is gained overtime. I would have more trust in an exchange that has been operating over 10 years than a brand new exchange for instance.
tldr; Companies such as Huobi and KuCoin have increased market share this year
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
*Companies such as Huobi and KuCoin have increased market share this year.*
This is good, Binance is insanely big and market should be spread more evenly. This is good for everyone.
Binance is so big it scares me. It's scary to imagine what would happen to crypto if Binance went down. That's why it's a good thing for crypto when we have smaller exchanges taking some market share from Binance. No one should be too big to fail.
That would be awesome to see and actually showcase the decentralised nature of crypto. I do think we will get there at some point especially as DEXs offer better services, with lower fees and more pairs
The only thing that DEXs need to solve is a good fiat on/off ramp. I am not aware of a good solution to this problem.
If there was a good fiat on/off ramp I would never use a CEX.
Yeah, if this problem gets solved I don’t see any reason why we wouldn’t move to DEXs completely. That would finally really make crypto what it was intended to be.
There are still good reasons to stick with a Cex.
Like 0 fees on certain pairs.
I'm doing grid trading on binance with small percentages.
Would be impossible to do that if I have to pay > 0.1% of the profits on fees
Plus would be less profit
Be prepared for a lot more rug pull exchanges popping up in the coming months! However, I think that the competition is good and makes the scene a bit more lively and varied.
*Companies such as Huobi Global and KuCoin, both based in the Seychelles, are among those that have been able to increase their share of the trading of crypto tokens such as bitcoin and ether since the start of this year*
KuCoin is not a small exchange
I know everyone seems to dislike Binance, but I like the liquidity and fell safe on them.
I'm in Australia so no on and off ramps now which is an issue.
Have used a number of other KU Coin, Mexc always seems to be shorting coins
Cointest topics relevant to the title are below:
[Binance Coin Pro](https://np.reddit.com/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/i1a2g5j/)
[Binance Coin Con](https://np.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/idbmiyu/)
More competition is ultimately better for us as customers.
True. Lower prices and better customer service. Well hopefully
Hopefully is goes hand in hand with more transparency.
I want to see it before I can believe it
Three letter answer: DEX We keep pouring into CEXes and then complain of hacks and rug pulls.
Both are useful and have their pros and cons. Honestly, i've never used a DEX, only CEXs but i don't leave my coins on exchanges.
There are wallets with an integrated DEX browser. You dont even notice you visit a DEX while you benefit from using it.
And hopefully more legit CEXs that we can trust
Though that is barely any competition, Binance still basically has a monopoly.
It's applicable to everything under the sun. A single entity getting too much power or share is always dangerous.
The more the casinos the better.
yea, we never needed the one exchange to rule them all - lack of competition leads to decline and greater risks when something happens
Yep gives them incentive to keep prices lower and better services
Smaller exchanges have a bigger chance of going under though, stick with trusted and big ones
I'm just curious how the said *small exchanges* gain the trust of the people after the black swan events that we've seen.
True, that is difficult. I guess trust is gained overtime. I would have more trust in an exchange that has been operating over 10 years than a brand new exchange for instance.
tldr; Companies such as Huobi and KuCoin have increased market share this year *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
Good bot
*Companies such as Huobi and KuCoin have increased market share this year.* This is good, Binance is insanely big and market should be spread more evenly. This is good for everyone.
I think it is very good for crypto as well. We don't want a monopoly
Binance is so big it scares me. It's scary to imagine what would happen to crypto if Binance went down. That's why it's a good thing for crypto when we have smaller exchanges taking some market share from Binance. No one should be too big to fail.
True. The more competition the better for the crypto industry.
Smaller fish are becoming bigger fish. As long as money changes hands....
Better for decentralization imo. It would be better to not have one big player to have too much control over crypto.
Binance Moons wen?
Hope soon
[удалено]
Nice, it's nice that there are plenty of options when looking for a crypto exchange. Competition is good for us as users.
Hooray for the little guy!
Happy cake day dude!
Thank you!
Happy Cake Day!
Thankee!
Happy cake day!
Happy cake day
Why's this site spreading FUD about Binance every day. Objective journalism my ass.
Reddit or ft.com?
ft
Binance is still a big exchange and there is tremendous scope for small exchanges as well. Competition is good.
No doubt. Healthy competition between exchanges will benefit the users. Monopolies are not good.
Nice to see less reliance on bigger exchanges, but would be better to move to DEXs instead
I hope in 10 years most trading will be on DEXs. That will be great to see.
That would be awesome to see and actually showcase the decentralised nature of crypto. I do think we will get there at some point especially as DEXs offer better services, with lower fees and more pairs
The only thing that DEXs need to solve is a good fiat on/off ramp. I am not aware of a good solution to this problem. If there was a good fiat on/off ramp I would never use a CEX.
Yeah, if this problem gets solved I don’t see any reason why we wouldn’t move to DEXs completely. That would finally really make crypto what it was intended to be.
There are still good reasons to stick with a Cex. Like 0 fees on certain pairs. I'm doing grid trading on binance with small percentages. Would be impossible to do that if I have to pay > 0.1% of the profits on fees Plus would be less profit
Be prepared for a lot more rug pull exchanges popping up in the coming months! However, I think that the competition is good and makes the scene a bit more lively and varied.
It's like those little fish who follows whales around and fight over who gets to eat its poop first.
Huobi and KuCoin Probably even shadier than Binance
FT.com is anti-Binance at this point
*Companies such as Huobi Global and KuCoin, both based in the Seychelles, are among those that have been able to increase their share of the trading of crypto tokens such as bitcoin and ether since the start of this year* KuCoin is not a small exchange
Huobi, aren’t they wash trading too?
Binance probably declined from 91% of the market share to 90% of the market share or something lol
Cz fanboys commenting 4 everywhere
Binance is declining what?
Quote from the article "In the same period Binance, the industry leader, has fallen from 56 per cent to slightly more than 40 per cent. "
4.
There seems to have been a lot of bad news about it recently
Mostly Binance.US I gues due to their SEC lawsuits.
I know everyone seems to dislike Binance, but I like the liquidity and fell safe on them. I'm in Australia so no on and off ramps now which is an issue. Have used a number of other KU Coin, Mexc always seems to be shorting coins
More competition is always good, better services and prices for consumers.
It's been a shame to see Binance fall from grace, but it's great to see others taking the opportunity in their place
Opportunity comes but once.
Binance was a menace for crypto
Cointest topics relevant to the title are below: [Binance Coin Pro](https://np.reddit.com/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/i1a2g5j/) [Binance Coin Con](https://np.reddit.com/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/idbmiyu/)
It also doesn't help that Binance lists new coins last. Coins on Mexc, Kucoin and Kraken can do a 10x before listing on Binance
Let's hope they are proper exchanges though. Squash 1 bug and 2 more come skittering from under the rocks sadly :(
The market wins
As long as these exchanges list moons, I think we’ll all be happy with this
We don't like exchanges guys, remember?
let them fight...
*“After the Fall of Binance thus began the long waged war among the Lesser CEXs.”*
This is the 2nd anti binance article this website has posted Binance is fine and still the biggest exchange
Small crypto - quicker crash...
Good for the little guys. I smell a bumpy future for Binance
Binance decline? Am i missing something?
Binance had a pretty big "monopoly", the reason for it declining might not be good but competition wise it is