Binance exchange has been on an acquisition spree. They've bought a lot of popular cryptocurrency companies, and have spent millions of dollars on merges and acquisitions.
However, it is important to know these companies, because BINANCE can be a little manipulative with their acquisitions.
For example, when Binance acquired Coinmarketcap, they changed the ranking of exchanges from being based on volume (in which Binance was 6th), to being based on some weird metric called "social ranking", in which Binance ranked, you guessed it, first.
Equally, when Binance acquired Swipe, they changed the base currency from BTC to, you guessed it again, BNB.
So it's important to note when Binance acquires our favourite services, because they tend to favour their own products rather than being transparent. The following companies have been acquired by Binance this year:
- Swipe wallet and credit card
- WazirX
- Coinmarketcap
Now let's look at some viable alternatives to those services.
Swipe alternative: CRYPTO.COM card.
Crypto.com is a fast growing cryptocurrency exchange and card service. They recently launched their own cards, and are more transparent about their work than Binance is. For starters, their card's base currency is still BTC, which is what we all love.
WazirX alternative: CoinDCX
CoinDCX is one of India's largest exchanges. They offer a wide range of services to users, and unlike WazirX, they don't report fake volume.
(Yes, WazirX reports fake volume. I have personally investigated this and saw that there are bots that spam the BTC order books with continuous small size. They buy their own contracts from each other, making it look like they have a greater volume than they actually do. You can verify this for yourself by watching the order books. You'll find this out.)
They offer a lot of altcoins (about 250, including exotic ones like DMM) with Binance liquidity, so it should be good.
Coinmarketcap alternative: Our loveable CoinGecko
Coingecko is actually much better than Coinmarketcap in my opinion. They have more transparent news, and in my experience actually report newer happenings before Coinmarketcap.
Their website design is also much nicer, and they offer a liquidity view and more accurate trust score.
Those are my alternatives to Binance's acquisitions. I hope you found it useful.
Thanks for reading.
