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RE: BNB AND BINANCE EXPLAINED!

in #crypto7 years ago

Good info, I have been reading up on Binance to figure out what the fuss is all about. The discount is great for big whales of course but it's not that big of a deal.. The example you made looks great but I think the math is off? 0.1% of $12000 usd is not $1200.. that's what 10% would be. 0.1% is actually only $12 worth of trading fees on a $12000 trade. So you would be saving only $6 dollar if you paid the fee with Binance tokens.

The biggest draw I see is the short term benefit of the discount, but this decreases in time. What's left is the 20% buyback, but this by itself is basically speculating on the amount of trade volume Binance gets. Which is good but there are a ton of exchanges and more coming up, decentralized and all, which offer the same (or possibly better in the future).
Binance did announce their plans to open a decentralized exchange too for which the tokens will be used as fuel, which sounds awesome for sure, but does kind of require more information in order to really place my bets on it.

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Yeah- that math was way scary ---> no one would be trading any crypto with fees like that.....!

I stopped short at that number also..going that's not right. My Scottrade account is 6.95 per trade...1200 makes equities look sweet. lol Glad others saw that also. He needs to correct it!

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