Binance, Bitmex and similar loosely regulated grey market exchanges will continue to thrive on retail traders and lower tier trading operations. But if they ever start enforcing mandatory KYC, we'll see how much interest is left.
I like that description "grey market". I hope Binance keeps running a great exchange but I have always felt it was younger or even immature in some ways. I'd like to see Binance more "mature" in some ways. The CEO, CZ, is quite young in days, but I admire his work a lot. He may be one of my favorite figures in the crypto world today but I still have tons of constructive criticism for their company.
They read all these posts by us and they implement a lot of our suggestions.
But Bakkts minimum deposit is 1 BTC and their services are not gonna be cheap in comparison to MEX
I like that 1 BTC minimum. Some of the smartest finance people in the world could be working under Bakkt. Do you think Bakkt will possibly also have other services with minimums of 100, 1,000 or even 10,000 BTC?