The cryptocurrency market has been a bit gloomy in the recent days. The value of almost all cryptocurrencies, especially Bitcoin witnessed a huge slump by the end of last week following the new developments in China.
The fiasco started after the government decided to put a stop to the rising number of ICOs, which soon turned into a full-fledged ban on domestic cryptocurrency trading. These developments have disrupted the country’s cryptocurrency market, with tremors and aftershocks being felt across the global markets. The government’s move has impacted various cryptocurrency exchange platforms including China’s big three — CHBTC, OKCoin and Huobi. However, not all platforms are affected by the government’s crackdown on domestic cryptocurrency trading.
For some platforms like Binance, the ban could be considered by industry experts as a blessing in disguise. Like any other cryptocurrency exchange, even Binance has announced that it has stopped offering its trading service to Chinese users. However, this move on the platform’s part hasn’t affected its operations as the company continues to function without any interruption. With the other leading exchanges facing a slowdown, Binance is now faced with an opportunity to grow rapidly and gain a strong foothold in the global cryptocurrency market.
Unlike its counterparts, Binance is a truly global exchange and trading platform catering to users across the world. A look into the platform’s userbase shows that the Chinese traffic makes up to only 20% of the overall traffic, which leaves another 80% who are unaffected by the domestic crypto-trading ban. The platform is now available in over 180 countries across the world.
Binance also holds the distinction of being one of the most user-friendly, customer-oriented platforms, offering a great trading experience. With loads of positive comments about its services on leading social media sites, Binance continues to attract more users each day. Also, thanks to a strong tech team who have worked with leading names like Blockchain Info, OKCoin, Morgan Stanley and more, the platform continues to undergo constant improvements with new feature additions.
With a strong user base, tech team and a great customer service, the platform is a perfect example of a trifecta —a winning combination which makes Binance stand apart from the rest.
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