Full disclosure, while Binance is currently an operating exchange, it’s not yet decentralized. But it plans to go decentralized in the future.

With the recent China ban on exchanges and the potential for other regulators to do the same, I’ve been talking about potential decentralized exchange cryptos, including [Komodo](https://steemit.com/bitcoin/@g-dubs/checking-out-decentralized-exchanges-komodo-kmd) and [Blocknet](https://steemit.com/bitcoin/@g-dubs/checking-out-decentralized-exchanges-blocknet-block). (And yes I’m aware of Bitshares.)

Today I look at [Binance](https://www.binance.com/).

<center>https://s19.postimg.org/7b4gj91oj/Binance1.png</center>

Binance is one I’ve written about before, calling it a [buy at $2.31](https://steemit.com/bitcoin/@g-dubs/is-it-time-to-buy-binance-bnb) on August 30. That wasn’t the best timing, it’s down 45% since then. But I still like it for the long-term.

One of the reasons I really like Binance is the co-founder and CEO Changpeng Zhao. He has quite the resume and all his experience is in exchange platforms.

He successfully started up BijieTech, which is a cloud-based exchange provider powering over 30 exchanges in Asia. Changpeng stepped down from BijieTech to focus exclusively on Binance.

Before that he was a co-founder of OKCoin, which used to be one of China’s largest exchanges. And he was the third employee at blockchain.info, where he was the Head of Technology.

Suffice to say Changpeng is well connected in the crypto world. You can also tell by Binance’s strategic advisors. The pic below shows just 9 of 23. Impressive.

<center>https://s19.postimg.org/666pn2llf/BNB7.png </center>

I also like that Binance is up and running right now. I use the platform and it’s pretty slick. It has both a basic and advanced platform. I just use the basic but would use the advanced if I traded more. I regularly see the Binance exchange doing $75 million plus daily. It launched with just a few coins but has 65 now.

The other cool thing about Binance is that they take 20% of profits every quarter and use it to burn BNB tokens. They’re going to do that until they cap out the token supply at 100 million. They just had their first [‘burn event’](https://support.binance.com/hc/en-us/articles/115002096072) and burned nearly a million coins.

As for the decentralized exchange Binance hasn’t revealed when that will happen. It will likely take a while as they plan to add margin trading, future trading, and anonymous instant exchange first.

With the team they have in place I think Binance can get it done. I’m still long.

What do you think of Binance?

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