#BabyMarvin合约地址F9C7 Why does China not allow the existence of virtual currency trading platforms?
One perspective:
No impressive crimes allowed. Just look at Binance's API documentation and GitHub; anyone with a basic understanding of programming can quickly get started with trading.
Real-time market data is free, without any nonsense L1/L2 fees; it directly opens up 5000 order book queries and incremental pushes, and even historical market data can be downloaded for free;
Accounts can be opened directly at the exchange, without brokers profiting from spreads and reselling information; it also supports x125 leverage, 30 sub-accounts, spot/futures/options/investment/loans, all managed by a single exchange.
In simple terms, compared to our regular securities/futures exchanges, the gap between Binance and them is even larger than the gap between Alipay back in the day and traditional online banking, and its credibility may not even be worse than that of certain bandit-run institutions.
That said, whether in terms of talent or financial strength, Binance probably can't compare with the Shanghai and Shenzhen markets. Its matching speed, stability, and uptime should also be weaker, but they have already outpaced an era in terms of service content and philosophy, which is worthy of reflection and learning for domestic regular exchanges and securities companies.
After spending so much money and nurturing so many people, what are they doing?
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