NASH > Binance ? Discuss

Community
#1

I totally understand the hate for binance, i myself have had a love hate relationship with the exchange over the last year or so.

The trouble is dispite the Binance leadership using underhand method to progress their platform, the exchange itself is very user friendly and a pleasure to work with.

After using the Beta version of NASH yesterday for testing, i am happy with the way NASH exchange is progressing… but there are A LOT of features Binance has that NASH does not have at the moment.

I know its beta and much will change and get added as progress continues as the dev team works on NASH but that doesnt change the fact people that are currently using Binance will have a very hard time finding the want within themselves to switch over and use NASH.

There are so many features that NASH will have to build into our exchange if they want to pull people over from Binance.

I myself will stake nex and use the exchange for sure and i have no doubt that NASH will succeed in the long run and pull people from existing exchanges and people also new to crypto … but please please dev team you need to blatantly copy over all the features that make trading easy and enjoyable. The beta testers thread had almost all the features needed suggested so i wont list them all here, just hoping they will be implemented as time goes on before launch.

As slick and fresh and safe and secure as NASH is, Binance is still much nicer to trade with due to the shear amount of options, indicators, tools, and layout ect.

Nash feels clunky and lacking tools, and before people batter me with “its only beta” yes i know and i fully expect these issues to be remedied, but that shouldnt change the fact we need to openly discuss them in an adult manor.

Binance is slightly underhand with its tactics but it doesnt change the fact thier user experience is, in my humble opinion, still better to date.

Would be nice to get a discussion going, on what features you would like to see in NASH that other exchanges have already implemented…

With all that said i would still like to congratulate the Dev team here, they have done a wonderful job, and I’m super excited where NASH will be in 6-12 months down the road. More than a solid start, lets just get the additional features in there and man… it’ll be a superb user experience.
Weldone, really. :+1: top job.

7 Likes
#2

I haven’t been granted access to the beta yet so I cannot recommend anything, but it is important to realize that a lot of people use binance (to your point) because of the sheer amount of coin options. With nash exchange limiting the coin listings to the extent that they are, and also not having margin trading it is a hard sell to switch over. I believe, like you, that in time they will be a competitor, but at the infancy stage that they are in now it will be tough for awhile. That being said, I also think 6-months down the road is where this communities mind should be, if not further.

1 Like
#3

There are many features that are not being shown in the beta. NASH is not stupid to show it all.

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#4

some trading tools as an example not being shown due to NASH not being stupid to show it all. This makes zero sense. Maybe they wont show how some of their newly built systems work for fear of others copying them fair enough, but this has nothing to do with simple trading tools/indicators, common exchange feathures that most others utilise and have done for years.

#5

I disagree. It’s not stupid. This is very clever! I’m just reviewing what the team said. Plus the beta has 3 stages!

1 Like
#6

i didnt suggest anything was stupid, i was referencing your comment,

#7

Why did people start using binance? It has a huge selection of coins, it’s fast, and user friendly. Also, lower fee’s than most. I think we should get back on topic

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#8

binance has a very good referral program commission and with their nice ui and speed, people start to promote it easily, i would suggest for nash to start a new referral program at lunch instead of the current one it’s not attractive

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#9

Yeah its clear the NASH exchange has a lot of work to be done before it is Binance level. That is what the beta is for though of course! Hopefully the team takes a good look at all the suggestions in there thread as there are a lot of good ones! This may take some time, we are just all comparing it to the best UI’s in the centralized exchange game that have been in it for a while.

1 Like
#10

I would be ok to lower a little bit (the portion is to be debated) the revenu of the stacked NEX toward a referral program for a period of say 1-2 years where people can lower their fees using NEX tokens for instance. I know it is a copy and paste from Binance and other exchanges. But it seems to work attracting users.
We could tweak it by only giving these referral discount if

  1. you refer NASH and depending on how any people you have referred you enter a higher discount bracket
  2. consume NASH for the discounted fee (same as Binance in this case).However, I know that NASH is a security and I cannot figure out how this would work at the moment.

This would create 2 effects:

  • attract users
  • create liquidity within the NEX tokens

It is however an extra investment from the NEX community and many may bash that idea and note that this is just a brainstormed idea to open a dialogue nothing more. But then again, if we really want NEX to succeed we must go and bring this success; we must not simply wait and see.

PS: Once again it is simply an Idea nothing more at the moment.

1 Like
#11

I personally do not like the design of binance at all. From the beginning I found the design of binance shady and dubious. I am a fan of a clear simple serious design like NEX / Coinbase. In my opinion, this is also better for the mass acceptance of cryptocurrencies. For my parents, it would definitely be easier to buy/trade Bitcoin on Nash than on Binance.

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#12

It is from the start stated by nash that NEX will only be used for dividends sharing purposes. Not for any utility purpose such as using for discount on trading :grinning:

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#13

The best reason to use nash is that all stakers will be able to receive a portion of dividends. Which is legal from regulatory POV since it is a regulated security token.

So if everyone uses nash exchange. Everyone who stakes NEX will get a big share of profit.

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#14

I guess I missed that part haha

1 Like
#15

Binance dominance began when China banned exchanges in september 2017 and most Chinese moved to Binance (Huobi was another that survived the slaughter). They were also prepared for massive surge of people during peak bubble while other exchanges suffered under the load. Bittrex, Poloniex and BTCC (for Chinese) were the go to exchanges before that. Binance took market share from all of these exchanges.

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#16

Many of the HODLers should have no issue with switching over, being able to store everything on one account would be great. I’ve always liked kucoin’s UI more than binance, there’s just a lack of liquidity and listings on there so I rarely use it. I like BIG.one UI as well, but never use it because I have no need. I’m not a trader. 99.99% of people probably aren’t.

Day traders probably make up only a small minority of their target market. What is ~60k day traders compared to countless millions of bankless individuals? I don’t even compare Nash to Binance personally; I compare Nash to PayPal because that’s what I’ll largely be replacing with Nash for freelance income, and PayPal dwarfs Binance in terms of active users. Binance is a speck, I use Binance so little that I don’t even think about it, I won’t miss it one bit and neither will a lot of other people. My current on-ramp is LTC from CoinBase -> Binance -> my wallet. So I’m replacing coinbase as well.

It’ll be nice to have advanced trading features at some point, but I think focusing on listing many currencies and bringing the uninitiated users into crypto is a wiser decision than trying to convince tech-savvy day traders to switch sides.

4 Likes
#17

In long term, I compare Nash to Revolut, N26, Robinhood, PayPal, Coinbase and of course Binance. All those companies strive for domination and have different strategies. I like to think about the emerging fintech space similarly as previously social media. There is Myspace, LinkedIn, Twitter, Snap, but there is one clear winner - Facebook. I believe something similar could happen here as well. There might be a few large companies but there will be one that will dominate the space.

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#18

nash could be the financial facebook that connects all previous solutions and that decentralized. :nash_n:

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#19

Think of Binance like MySpace and Nash like facebook. Beside that nash will do to binance what emails did to post offices. Think of Nash in 5, 10 years +. The game will change cause nash will be totally macture. You can’t compare a grown-up kid with a macture guy. Just when the kid mactures before you will know his potentials.

A tunamis is coming,all the big crypto names binance, coinbase are panicking. They seems to know what awaits them.

Nash the sleeping beast will get up soon. Its just a matter of time. Stay focus and believe in Nash.

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#20

I think our community will be very positively surprised how fast we can catch-up on experience. Hardest thing was to design and implement protocols that allow the UX needed, now we just need to refine the interfaces to unlock it.

10 Likes