Binance says it can survive bitcoin's bear market. | Source: REUTERS / Darrin Zammit Lupisubmitted by dForceProtocol to u/dForceProtocol [link] [comments]
Billionaire Changpeng Zhao says bitcoin is the future, and that his cryptocurrency exchange Binance can survive any bear market ― no matter how brutal. Zhao also says he “definitely” wants to partner with Ripple’s xRapid cross-border payment platform, but nothing has been decided.
Zhao made the revelations during a wide-ranging Periscope Ask Me Anything session on February 7 (see below).
‘WE DEFINITELY WANT TO ADD’ RIPPLE AS A PARTNER
“We are working with a number of other partners,” Zhao said. “[With] xRapid, there’s nothing going on right now. But in the future, we definitely want to add them as a partner.”XRapid is a Ripple product that uses its native XRP cryptocurrency to provide real-time liquidity and reduce the capital requirements necessary for financial institutions to operate in emerging markets.
CHANGPENG ZHAO: ‘OUR AIM IS 10, 50, 100 YEARS’In response to a question about whether Binance can survive another year of a bear market, Zhao said absolutely. In fact, Zhao says Binance ― the world’s largest crypto exchange ― will still be there in 100 years no matter what happens to the industry.
Zhao says his team does not obsess over daily bitcoin price fluctuations because it has a long-term focus and concentrates on its work. Accordingly, there’s no hourly hand-wringing like those that plague crypto holders with short-term, day-trader mindsets.
“Binance is ready to survive any number of years, no matter if it’s bear or bull. We basically don’t really look at the market too much ― not as much as people actually think we do. We just keep our heads down and build features.”“Binance is very healthy financially and also very stable in terms of the team. Our aim is much longer than another year. Our aim is 10, 50, 100 years. So we’ll be here for a while.”
CRYPTO OFFERS FREEDOMSource: Shutterstock
Zhao revealed that once he started learning about cryptocurrencies and how bitcoin works, he was immediately drawn by the freedom the decentralized virtual currency offers.
Zhao says the borderless virtual world of crypto really attracted him because of his background having lived abroad in many different countries.
“Once I learned about crypto and how bitcoin works, I just understood that’s the future. I think it’s the freedom that crypto offers that really attracted me.”“I’m a guy who has lived in multiple countries around the world, even at a very young age. So the concept of a country or a border is more virtual to me. And when you’re traveling between different countries, you know the difficulties with traditional fiat currency.”“Like for example, if I have my money in one country and I moved to a different country and try to pay, it’s really awkward. The system doesn’t work very well. So that’s how I got into crypto.”
ZHAO DOESN’T CONSIDER BINANCE SUCCESSFULAs he looks ahead, Changpeng Zhao says he’s proud of the progress Binance has made so far. However, he does not consider Binance to be “hugely successful.” That’s because the industry is still developing, and his team is still very small and young.
“For Binance, our achievements and success so far are just ― I hope ― at the beginning, so I don’t view Binance as hugely successful.”“I think as an industry and as a company or as a team, we’re still very small and we’re still very young. So there’s still a lot of work to do.”
WORDS OF ADVICE: ‘IGNORE ALL THE NOISE’Zhao says it’s important for the crypto industry to not become stagnant or get distracted by media hype. The most important thing, he says, is to stay focused and do the work.
“Look, there’s a lot of random noise in the crypto industry and outside of the crypto industry about us. The best advice [to crypto entrepreneurs] I can give is: Keep your head down, figure out your strength, and use your strength to build a product that other people will use.”“As long as other people use your product, then your product has utility value. Just keep your head down and keep adding value. That’s the best advice I can give. Ignore all the other noise.”Changpeng Zhao Image from REUTERS / Darrin Zammit Lupi
A top trader on Binance thinks that Bitcoin is primed to move higher in the near future. He joins many others in saying that BTC could hit the $20,000 resistance around the end of the year or start of 2021. The trader in question regularly posts profitable trades, with him clearly being a leading trader on Binance’s futures exchange. Binance made a hefty investment into TravelbyBit back in late 2018, by the tune of $2.5 million at the time. Expanding Australian Services. Caleb Yeoh stands as the co-founder of TravelbyBit. He ... ING Bank Launches ‘Travel Rule Protocol' to Ease FATF Compliance for Crypto Businesses. The protocol has taken on a strongly “regulatory first approach,” which allows them and the firms that are dealing with digital assets to readily comply with FATF guidelines. by Lujan Odera. June 24, 2020. Home Blockchain Announcements. Facebook. Twitter. Telegram. ReddIt. Linkedin. Email. Top Netherl Binance boots BSV because of billionaire’s bombast Calling Craig Wright a “fraud,” the leading crypto exchange’s CEO delisted his BSV coin in retaliation for suing crypto community members . By Leo Jakobson / April 15, 2019 / Craig Wright’s legal threats to cryptocurrency community members challenging his claim to be Bitcoin founder Satoshi Nakamoto have gotten his BSV coin booted ... 2. Bitcoin Travel. On Bitcoin.Travel you can book flights and accommodations while you pay with crypto. The payment will be accepted on transaction confirmation. Coins that are accepted include Bitcoin, Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH). 3. Cheap Air. In 2013, CheapAir.com started off as one of the first online travel ... Binance, one of the most significant cryptocurrency exchanges today, is by all accounts, a massive success.From obscurity to being on the cover page of Forbes, life has also come a full circle for Changpeng Zhao, the billionaire founder of the digital currency exchange.. Zhao once famously paused his dinner while at Hong Kong to interview a potential employee while he told others present there ... “I had no idea how much to invest, but I was getting paid pretty well at the time, so I decided on $3,000.” He paid just over $0.15 per Bitcoin, giving him slightly under 20,000. At the time ... Binance users can now buy Bitcoin with practically all of the fiat currencies in existence; Binance, which is one of the leading cryptocurrency exchanges in the world, has partnered with the peer-to-peer crypto exchange Paxful. Via this partnership, Binance users can now use 167 different fiat currencies to buy Bitcoin. The $15 million he raised in Binance’s 200 million token crowd-sale last July caught Bitcoin’s breathtaking ascent perfectly. Zhao’s recent relocation to the land of the rising sun, and then ... Travel Culture Subscribe ... Others included Zhao Changpeng, the founder of the mega Bitcoin exchange Binance, and Cameron and Tyler Winklevoss, the identical twin rowers who invested millions in ...
[index]          
Community Shocked That Binance Suggest Bitcoin Reorg After Hack ... Time Traveling Crypto Gods: #bitcoin #crypto #cryptocurrency # binance. Category Gaming; Show more Show less. Loading ... Binance today was hacked for 7,000 Bitcoin, while markets are remaining resilient, what does this mean for you and your Bitcoin? Sources https://www.theblock... 💙Phemex $112 Extra Bonus: https://phemex.com/web/user/register?group=74&referralCode=I4IEK 💛Binance Futures 10% Discount: https://www.binance.com/en/futures/... This video is unavailable. Watch Queue Queue. Watch Queue Queue Bitcoin surpasses a January 2018 trading volume all time high on Binance and the Bitcoin weekly chart puts in one of the most bullish btc indicators on bitcoin charts. Binance CEO makes bold claim about rolling back Bitcoin to save the 7,000 Bitcoin hacked from the exchange. This video explores the reality of this propositi... This episode of the Binance Podcast is very unique. For the first time, Wei is joined by two guests to talk about the merger of Travala and TravelByBit. Wei invited Juan Otero, CEO of Travala, and ... Welcome back to Coin Rivet TV! In this video, Oliver and Nawaz take a look at the Binance Coin chart. Thanks for watching, we will see you again next time! #BNBUSD #BNBBTC #BNB #Binance # ... Open An Account With Binance! https://www.binance.com/?ref=22170588 ----- Have A Ques... BNB (Bincnace Coin) is one of the biggest gainers against Bitcoin. It has now reached an all time high. BTC, LTC, BNB cryptocurrency update. It has now reached an all time high. BTC, LTC, BNB ...