Why Bitcoin Would Probably Not Get Listed on Binance Today

August 21, 2018 / by Cathy Zollo

It’s difficult to compare apples to apples in this scenario because times have changed since Satoshi Nakamoto offered up his peer-to-peer electronic cash system.

But assuming Bitcoin developers wanted to list Bitcoin on the Binance exchange when it appeared, had Binance or any exchange existed, they would have failed. Binance has strict listing requirements.

“We typically require the project founder or CEO to fill out the form,” says Binance CEO Changpeng Zhao. “Why? If there ever is a bug with your wallet, a fork or double-spend in your blockchain, we need to talk to a key person.”

Satoshi became less active in the budding Bitcoin community around mid-2010 and disappeared not too long afterward. He was a mysterious figure even when he was still talking to developers and other members of the early Bitcoin community. That makes Binance’s current requirement for a “point person” onerous.

But, again, we don’t think this is how things could have or would have panned out. Exchanges didn’t exist at Bitcoin’s beginning. Rather, they grew up organically around cryptocurrency as adoption increased.

The bigger question is whether Binance and other exchanges are charging developers too much to list their coins. Listing on any exchange almost always gives a coin a price boost for obvious reasons. Chief among these is access to buyers and the implied if not actual crypto community seal of approval.

That’s a lot of power in one place, but the thing is, there’s always competition. Other exchanges will do what customers want and eclipse the ones that won’t. We expect this will be the case with exchanges as it has been for wallets and every other facet of crypto ownership.

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