Binance Fiat Trading is Fake News + Impact on COSS
Recently, a Binance spokeman has come out and confirmed by email that they will not be adding fiat trading pairs nor will they be allowing deposit and withdrawal of fiat.
Binance CEO known as CZ has also come out and tweeted:
Binance
Since Binance's launch less than a year ago, progress on the exchange has been incredibly fast. They torpedoed to rank 1 in less than a month since launch mostly due to their fast exchange and referrals program. Due to their nature to be the leader in the field, no one was really surprised when articles began popping up of them supporting fiat pairs and withdrawals/deposits. However, this news comes as a timely reminder to always verify your news, especially regarding crypto as it's a very speculative and unregulated space.
Impacts of this news on COSS
The price of COSS took a hit when people believed that Binance would be introducing fiat as that would take away a considerable amount of COSS' market share, before rebounding back.
However, since the Binance fiat fake news, COSS has been quite bullish again!
COSS announced that they will be launching KYC and fiat trading in April and with only 10 days left, anticipation is building fast. I believe that they will launch their new UI with KYC within the next week and fiat to be launched on the 31st of this month. They have already included fiat tabs for their markets.
COSS have also announced the fees that they will be charging. They are a bit steep, especially for small users but they said that they will likely adjust fees once things start taking off. The minimum of $1000 USD is to make sure their systems don't get overloaded as the system is still in its infancy.
If you would like to take part in their promo of 10 USD bonus per deposit, sign up to COSS here! Sign up now to secure a spot on the site, once they release KYC, all new users will be required to have KYC even for crypto to crypto trading.
Personal Opinion
Disclaimer: I am quite heavily invested in COSS so I have a vested interest for them to do well!
I think COSS will do well, which is why I've invested in them. They are the only exchange I know to spent so much time in compliance and legalities to ensure they are always complying to crypto laws. This makes me have great faith for the future of the exchange and as a fiat gateway.
Watch out for the scams guys I hate fake news
Not really a scam I guess, just people speculating like their speculations are fact.
Binanace will eventually support USD pairing but not before they officially move their operation to Malta.
They said not in the short term, hopefully that's enough for COSS to get off the ground.
I think this whole manipulation is done by the big players who just take bunance down because it's giving tough competition to the top exchanges in the world.
Honestly not sure where it's from but it did give a massive boost to the price of Binance coins after they announced fiat.
Yes you are right ..at the end price only matters ..what ever the reasons it is.
Yup! COSS fiat is finally here but I've already sold all my COSS LOL
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