Sign up here to open an account - https://www.binance.com/?ref=Stoxtrader
Intro
In our view, there are fundamentally two different types of exchanges: the ones that
deal with fiat currency; and the ones that deal purely in crypto. It is the latter one that
we will focus on. Even though they are small now, we strongly believe that pure
crypto exchanges will be bigger, many times bigger, than fiat based exchanges in the
near future. They will play an ever more important role in world finance and we call
this new paradigm Binance; Binary Finance.
With your help, Binance will build a world-class crypto exchange, powering the future
of crypto finance.
Problems
Some of the current crypto exchanges suffer from a number of problems:
● Poor technical architecture
Many exchanges are “put together quickly”, by good tech people, but who
have little or no experience in finance or in operating an exchange. They often
choose the simplest approach to get the system up and running. While this
may work well in the beginning, as traffic grows, the system will not able to
handle the increased load. Exchange systems need to be engineered from
the ground up with security, efficiency, speed, and scalability in mind. This
often slows down the initial development, but is critical for long-term success.
Our team has decades of combined experience building and maintaining
world class financial systems that shape the economy. We understand how
these systems are built from the ground up.
● Insecure platform
There are hundreds of exchanges that went down due to being hacked .
1
Binance is built to high standards, audited, and penetration tested. We have
experience building financial systems to the highest security standards and
strive to ensure security first.
● Poor market liquidity
Professional traders and normal users are significantly affected by this.
Having a shallow orderbook means high slippage when trading, which is very
expensive for traders. Getting miners, institutional investors and large traders
into a new exchange is a chicken and egg problem, and requires a team with
deep industry resources.
1 https://bitcointalk.org/index.php?topic=576337
Binance’s team have been in both the finance and crypto industry for many
years. The team has worked on and operated a number of exchanges, and
have accumulated a large network of partners in this space. These partners
will be key in bootstrapping the exchange.
More coins will be added over time. We generally will only add coins that have
strong credibility, user base, and liquidity. If you have a coin that you wish to be
listed on Binance later, participating in our ICO will help.
We have no plans to support any fiat currencies such as USD, RMB, JPY, or KRX.
Device Coverage
We will provide cross-platform trading clients for:
● Web-based trading client
● Android native client
● iOS native client (pending App Store review)
● Mobile HTML5 client (including WeChat H5 client)
● PC (Windows) native client
● REST API
Multilingual Support
We will support English, Chinese，Japanese and Korean on all of our user
interfaces. (The very initial release will be in English and Chinese only.) More
languages will be added over time.
Sign up here to open an account - https://www.binance.com/?ref=Stoxtrader
Your support is much appreciated.
Regards,
Stox