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Should Binance users be worried over the exchange?


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16 hours ago, Wakanda said:

Just two days after the Indian government announced the termination of 9 crypto exchanges in the country including Binance, the Russian users has also be given today (29th Dec) ultimatum to withdraw their assets from the exchange according to the source below

https://www.rbc.ru/crypto/news/658d77a09a7947d1b6022968
Should this call for worries?

I don't think so cos these events may not affect the crypto trading rather the users on the affected exchanges will look for a better alternative to move their funds to. Russia and India still have likes of Bitget and few other exchanges complying with their local authority. 

The aforementioned exchange could be a save place considering the fact they have been on the news countless times this year for the right reasons. 

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On 30/12/2023 at 15:35, Captainsaudi said:

This opens opportunities for other exchanges that are still available in this country. It baffles me to see that Bitget is still available in these regions, could that mean the exchange is regulation compliance, or could it be its transparency policy? 

Yeah, thats right, the aforementioned exchange is reputable for been compliant with regulatory authorities globally. I believe this is amongst the reasons its been gaining users trust and loyalty

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On 31/12/2023 at 23:56, sean988 said:

Binance is a crypto exchange with a very professional management. I definitely don't think there is anything to worry about

Too many drama in one year for what is a top leading crypto exchange. Let's not forget that the industry is fiercely competitive and other high ranked exchanges are ready to adopt their global users

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On 31/12/2023 at 23:56, sean988 said:

Binance is a crypto exchange with a very professional management. I definitely don't think there is anything to worry about

Perfectly said but I'm thinking out loud whether there's any need for a reality check

Edited by BashJasper
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On 01/01/2024 at 04:56, sean988 said:

Binance is a crypto exchange with a very professional management. I definitely don't think there is anything to worry about

We shouldn't rely only on one exchange. There are plenty of examples where CEXs have failed miserably (ie. FTX). I've diversified my funds over Bitget(primary) & Kucoin.

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11 hours ago, Incarts said:

Too many drama in one year for what is a top leading crypto exchange. Let's not forget that the industry is fiercely competitive and other high ranked exchanges are ready to adopt their global users

Already adopting. We've seen how Nance have exited Australia,UK & Canada but Bitget is doing good over there.

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