This is why people don't trust Binance - And they're right

This is why people don't trust Binance - And they're right

By LeftFooted | bitcoinea | 13 Oct 2023


Like so many other crypto people, I don't trust Binance. I don't particularly like Binance either.


But I still use it because it has some features that other crypto exchanges don't have.


I never keep more than maybe a few hundred dollars worth of crypto on Binance, and I've recently tried moving the equivalent of around $30 on Binance.


We're taking about $30, so I'm mildly annoyed, but the problem is this sort of thing happens with Binance all the time.


The transaction is stuck. Has been for hours. With 128 out of... 6 confirmations. And it's still in 'confirming' status.


Why? Unclear. And it doesn't matter anyway. When you send funds from A to B, you account for the blockchain speed, but any extra second beyond that is a second too many.


All CEXs are like this. But Binance, in my experience at least, is a bit worse than the other main ones.

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LeftFooted
LeftFooted

I’m a left-footed duck that loves writing. I write about cars, watches, craft beer and, you’ve guessed it, crypto Also active on read.cash


bitcoinea
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