Binance: 97% of Altcoin Applicants Rejected

We actually pass less than 3% of all altcoin applicants in our reviews, said co-founder of Binance
01 February 2018   1556

At the Blockchain Connect conference held in San Francisco last week, Binance co-founder Ted Lin said that 97% of altcoin applicants are rejected, adding that is good news for investors.

We actually pass less than 3% of all applicants in our reviews. So don’t be alarmed or worry if your project is not approved for listing on Binance as that is actually the norm. 97% of altcoin applicants are rejected, and that is good news for investors as well.

 

Ted Lin

Co-founder, Binance

Lin said that Binance has a proprietary methodology how to choose a project for listing. The exchange asks projects about its product: is it in just in alpha mode or whitepaper mode, and does it actually use the Blockchain technology for real or did they just make whatever and slap Blockchain on the end of it hoping to raise money, Lin said.

We like to see projects that are looking for traffic and not money. We don’t like people who shove a few Lambos in their tab and claim that they need us. We like people who are modest. We like teams who have an existing user base. 

 

Ted Lin

Co-founder, Binance

Lin added there are a lot of propriety considerations the exchange takes into account that cannot be to openly shared because if Binance shares those metrics, then they might be engineered. 

Binance System Update Complete

One of the largest cryptocurrency exchange reported that it's back online
09 February 2018   226

One of the most fast growing cryptocurrency exchange, Binance, reported on complitatio of its system update. 

Binance has completed its system upgrade and we expect all trading activity to resume at 10:00 AM (UTC).

In the 60 minutes prior to the commencement of trading, users will be able to cancel orders, process deposits, withdrawals, and use all other account related functions.

To show our gratitude for your unwavering support throughout the upgrade process, Binance will provide all users with a 70% discount on trading fees (0.03% on all trades, 0.015% with BNB) until 2018/02/24 00:00 AM (UTC).
 

Binance Team

These news are good for the Binance users, but they report on ongoing issues on the Twitter.

We hope that the Binance team will solve all issues ASAP and their users will be happy.