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   1930

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. 

Coinrail and Binance support Tron Blockchain and Token

Tron Foundation has made 2 announcements relatively to 2 major trading platforms providing Tron Blockchain upgrade and the token migration
10 May 2018   138

The official statement claims that two superior digital asset platforms - Coinrail and Binance will be supporting the upcoming announced upgrades by the firm. The announcement also reported that the investors need to deposit TRX’s ERC-20 tokens to Coinrail and Binance platforms correspondingly in order to receive appropriate amounts of TRX tokens.

As known from the field enthusiasts, Tron will be running the virtual machine on May 25, which will be proceeded by the expected mainnet launch on May 31 and the token migration will take place on June 21. As informed, the recent announcements by exchange platforms were made in accordance with the approaching important dates for Tron.

These official announcements were also affirmed by the founder and CEO of Tron, Justin Sun on his official Twitter page. Sun was fast to share the good news with the community and appeal the investors to study more about the recent update.

Coinrail is an updated cryptocurrency exchange designed for user convenience and safety. The main aim of the platform is to provide user-oriented system and design. The main profit of Coinrail is that the users can conveniently use the platform through obvious processes and real time charts. It also insures complete security as it is  being consisted of e-mail verification, cell phone verification, security codes, and Google OTP authenticating services. The key characteristics of Coinrail include professionalism, expandability, stability and the competitive spirit.

Binance is the world’s leading blockchain trading platform that promotes multi-language and multi-currency exchange services. Its customers include blockchain enthusiasts from many countries. At present Binance possesses the exchange platform, Binance Info, Binance Labs and Binance Launchpad.