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I'm not sure that binance has a reason to exist in the current world where defi is a thing. Things like Coinbase etc are your place to go if you want a fiat to
by idiotsecant 4y ago
I'm not sure that binance has a reason to exist in the current world where defi is a thing.
Things like Coinbase etc are your place to go if you want a fiat to crypto on-ramp or off-ramp or if you want a reasonably safe place to park crypto if you don't want to own it yourself.
There are innumerable decentralized exchanges where a person can be absolutely (for some definition of the word) sure that the exchange won't be shutting down and taking your money before you're done doing your transaction. There are L2 DEX even that are approximately the same cost and same level of inconvenience as something like Binance.
Why does it matter if Binance goes away? I'm not sure if it does!
- deleted 4y ago[deleted]
- searchableguy 4y agoBinance is the biggest exchange by a huge margin. It dwarfs coinbase and FTX. They are also huge investors in crypto and any winding up will have an impact on a significant number of companies. They control a significant portion of stablecoin, defi, and chain market too. Their impact would be felt outside the crypto space if they ever go down.
- rhaway84773 4y agoAll the more reason for them to go down sooner rather than later because they’re eventually gonna go down, so better now where they will have less impact outside the crypto world than they would a few months or years later.
- acjohnson55 4y agoAnd yet, here they are, processing a huge amount of volume. Their customers obviously do think they have a reason for existing.