Binance donates 100% of the currency fee. What should I do on other exchanges?

Yesterday, the Binance exchange was bleak and released an explosive news, announcing that the exchange fee will be fully transparent, and all future currency fees will be 100% donated to its own charity blockchain charity Foundation Blockchain Charity Foundation (BCF). Such a move won a lot of praise and applause for Binance, and of course there were a few voices of doubt and asked Binance to disclose past listing fees. Players believe that, in general, this is a good thing for Binance, for the entire cryptocurrency industry and even for philanthropy. Below I will share my thoughts and opinions with my friends.

Binance currency has always been a mystery

In August of this year, Expanse founder Christopher Frank broke the news on Twitter that he received a letter from the Binance exchange, saying that the Binance fee was as high as 400 BTC (about $2.5 million). Bin Chang founder Zhao Changpeng quickly responded in Twitter, saying that he received a fraudulent email. Zhao Changpeng also said that even if the garbage coins pay 4000 BTC, Binance will not be on. In ETH/NEO/XRP/EOS/XMR/LTC and other currencies, the currency is zero.

For Frank’s breaking news, there was media confirmation from Binance that Binance stated that “the project team decides whether they are willing to pay and how much they are willing to pay when they apply for listing. There is no standard listing fee. Every project is different.”

The matter stopped for a while. In September, a form of the exchange’s currency fee re-ignited the matter. According to the form, Binance’s currency fee was 20 BTC, plus 100 BTC deposit. The authenticity of this form does not seem to be recognized by major exchanges such as Binance.

In short, this mystery about Binance may have ended in this change in Binance.

All the money is donated to charity. Is Binance really a charity?

Binance is the biggest fan of all exchanges, not one. On July 7 this year, Binance donated $1 million worth of BTC coin, BNB coin and other cryptocurrencies to Japan to help rescue Japanese rainstorms and earthquakes. In July, Binance announced the establishment of the Blockchain Charity Foundation (BCF), the first charitable foundation in the blockchain industry. The foundation has been cooperating with the Malta Presidential Trust Fund since its inception and has signed a memorandum of understanding with UN Ambassador Helen. In September, the company signed a cooperation agreement with the United Nations Development Program (UNDP) at the blockchain to promote inclusive and sustainable development. The foundation will donate millions of dollars to UNDP, and the two sides will work together to promote the application block. Chain technology promotes the development of social welfare.

Regardless of the cryptocurrency exchanges, the blockchain charitable foundation established by Binance is welcomed and supported by both the UN and governments. Binance, as the world’s most traded exchange, is really using its practical actions to interpret its determination to become a leader in the “blockchain charity” industry. This time, “contributing” the controversial currency fees is a new initiative of Binance in the field of philanthropy. In the future, it may also drive companies from other exchanges and even blockchain industries to follow suit, which is good for charity.

Behind charity, there must be hidden commercial purposes.

As a company, in any case, profit is the first. Binance has tried hard to promote charity, and there is certainly no way to be pure, and it is still hidden from commercial purposes. To be honest, the image of the exchange is not very positive. Even Binance, all kinds of negative news are not uncommon. By engaging in charity, Binance is both self-fulfilling, creating a trustworthy brand for itself, and even building a good social image for the blockchain industry.

Through charity, it is not only to establish an image, but also to gain a lot of free positive publicity, and to establish a benign interaction with governments and organizations of all countries to lay a good foundation for the future.

In the first half of this year, Zhao Changpeng said in an interview that according to Binance 2018 historical data, Binance’s revenue in the first half of this year was about 300 million US dollars, and it took millions of dollars to do charity, which means that it will not hurt. The bones are moving. The capital fee paid this time is also a small part of Binance’s income, and the future may be replaced by the positive effect brought by it, and it is likely to bring a better return from the source.

In fact, since Fcoin moved out of the free currency, the controversial price of the coin will only become less and less in the future. Instead of holding it with reassurance, it is better to use it as a charity. In one fell swoop, Binance’s move is very good. this really makes other exchanges far behind.