Binance Speaks Out On Criticisms Facing Cryptocurrencies

Binance

✍️ 26 July, 2022 - 14:05 👤 Editor: Jakub Motyka

  • The crypto winter has generated different reactions in the public, being generally negative.
  • It is because of this that cryptocurrencies face serious criticism.
  • Binance has spoken about it, stating that this will only be temporary.

The director of Binance Latin America, Maximiliano Hinz, has given harsh comments against the criticism that has arisen against cryptocurrencies. According to his opinion, the accusation faced by digital currencies it is the same type that the internet suffered in its beginnings. Hand in hand, in his own words, who said that “20 years ago, when the internet began as a disruptive technology, many voices believed that it was useless.”

Currently, the same people who were once against the internet are now against crypto assets. For the director of Binance, cryptocurrencies represent a “paradigm shift ”. According to him, the blockchain will be a historic change in 10 years, being normal that all the projects of the digital economy overcome this winter. He also confidently states that the digital currency industry is here to stay.

What Has Been Binance's Response To Online Criticism?

During an interview given earlier by the director of Binance for Latin America, he commented that cryptocurrencies have a global penetration of up to 4% . Despite all its growth, it is expected that over time, this number will be equal to the use of credit cards in the world. In the interview he continues by declaring that "we see how there are a lot of projects cryptos surging in Latam. They are all varied, both technological and artistic, and the right decisions are being made for the region to establish itself as an international hub.”

Finally, Maximiliano admits that the market correction gave Binance significant growth. The majority of clients who have joined the platform since the correction are “long-term users” . He also pointed out that, due to issues related to web3, the variety of projects has grown in the region. This, consequently, has boosted the adoption of cryptocurrencies on the continent.

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Image sources:

  • Binance: Unsplash

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