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Binance, the largest cryptographic exchange in the world by volume, is already overwhelmed by user registrations 24 hours after the launch of its last exchange. The new encrypted-encrypted Jersey-based exchange allows for sterling and euro trading pairs with Bitcoin and Ethereum.
Binance CEO Changpeng Zhao (CZ) tweeted,
"Binance.I is overwhelmed with inscriptions. There is already a backlog of KYC audits. More resources are allocated to reduce it. In the meantime, we appreciate your understanding and your patience. The listing price is based on FIFO, no problem. Just crazy! "
He adds,
"One of the things we do well is to underestimate ourselves and the market."
The Jersey-based exchange has been opened for trading in 58 jurisdictions around the world, including North America, South America, Europe, Africa and Asia, excluding the United States. Binance plans to launch more than 10 new fiat-crypto exchanges this year.
Users are not hesitant to send their money to the new exchange, despite reports that cryptographic exchanges have lost $ 865 million in stolen funds in 2018.
On January 15, Cryptopia, based in New Zealand, reported the first security breach related to a cryptographic exchange in 2019. Part of the stolen funds were transferred to Binance, where CZ was able to freeze them. Police are still investigating the incident.
Binance was recently ranked 34th among the 135 safest stock exchanges by ICORating's independent badysts. The ranking earned them a B + score. The exchanges were rated based on the security of their user account, registrar and domain security, web security, and protection against denial of service attacks.
Kraken and Cobinhood were the only bursaries to earn an "A" rating, while none of the bursaries scored above 9 out of 10 for Web security. Coinbase Pro, ranked 9th, was one of 30 exchanges to meet the four criteria of "user security", including pbadword security and two-factor authentication.
You can read the full report here.
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Disclaimer: The opinions expressed in Daily Hodl are not investment advice. Investors should exercise due diligence before making high-risk investments in Bitcoin, Cryptocurrency or digital badets. Please note that your transfers and transactions are at your own risk and that any loss you may incur is your responsibility. The Daily Hodl does not recommend buying or selling crypto-currencies or digital badets, and the Daily Hodl is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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