Ninjastic
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Board Altcoin Discussion
Re: Binance is going to add USD-Crypto pairings. What does this mean for altcoins?
by
giarised
on 21/06/2018, 08:11:35 UTC
Quote from: Ale88 on March 25, 2018, 02:43:22 AM
Quote from: stopthefud-blog on March 25, 2018, 01:52:38 AM
Binance’s operations has moved to Malta, a friendly island nation in the European Union.

Opening an office on Malta gives Binance several advantages. One of which is that they can start to set up a fiat-to-crypto trading pair, allowing people to purchase crypto directly with USD or the Euro.

Read more + actual quote from CEO: http://thebitplex.com/2018/03/23/binance-malta/

But what does this mean for altcoins? Will they finally detach from the swings of Bitcoin?
Will Bitcoin dominance go down? Will more institutions look into altcoins as an investment?
Could we see more places to pay in altcoin?
I'm not sure that Binance will offer the UDS/EUR pair for all the currencies they have, actually right know they don't even do it with USDT, so I don't see why they should do it with the real fiat. For sure it can make easier getting some coins without having to get through BTC or ETH.
The reason that binance doesn’t offer all altcoin trading pair for USDT is that USDT is considered as a centralized crypto currency and not a fiat money. No one knows by what firms or institutions USDT is backed up by exactly. Binance doesn’t even have all altcoins for trading pair ETH. USD/EUR introduced will be fiat currencies and everyone knows by what is backed up by, so I think they will surely provide USD/EUR trading pair for all the altcoins as USD/EUR doesn’t come under category of crypto currencies.