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Binance Forced to Temporarily Suspend Withdrawals due to Record Levels of Platform Activity after Elon Musk Adds Bitcoin to his Twitter Bio

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Binance Forced to Temporarily Suspend Withdrawals due to Record Levels of Platform Activity after Elon Musk Adds Bitcoin to his Twitter Bio
January 30, 2021 @ 3:54 pm By Omar Faridi
Binance, the world’s largest digital asset exchange in terms of volume and scope of operations, recently revealed that a sudden rush of new users on its platform had put its systems under a lot of stress and overload, leading it to temporarily suspend withdrawals.
Binance CEO
Changpeng Zhao or “CZ” stated that new user registrations and trading increased to an all-time record high. Digital currency prices also surged dramatically on Friday (January 29, 2021) after Tesla Inc. founder ....

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60% of Investors Trust Exchanges to Store their Crypto: Binance Research

60% of Investors Trust Exchanges to Store their Crypto: Binance Research
Last Updated: 29 January 2021
Asset storage has always been a prominent issue in the cryptocurrency space. With the industry gaining more mainstream attention, it is worth understanding what drives users now more than ever.
In a new report, Binance Research found that most crypto users feel more comfortable allowing exchanges to custody their assets.
Exchanges Beat Self-Custody
Dubbed the 2021 Global Crypto User Index, the new report provided insights into a study that encompassed 61,000 crypto users from 178 countries and regions worldwide between September 15 and October 25.
Binance Research explained that crypto had become incredibly popular amongst holders, with 52 percent seeing it as a significant source of income. ....

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Binance Research releases first-ever global report on crypto user motivations, behaviors and preferences

Binance Research releases first-ever global report on crypto user motivations, behaviors and preferences
Binance Research s 2021 Global Crypto User Index .
The first-ever report examines data from over 61,000 crypto users around the world, shedding light on the motivations, behaviors, and preferences of this growing audience.
According to the findings, there is a near-unanimous confidence in cryptocurrencies (97%) amongst users. More than half (52%) do not consider crypto investing as a hobby, but instead as a means of income; for 15% of users, crypto is considered their primary source of income. Meanwhile, the top three reasons users invest in crypto are (1) to own crypto as part of a long-term investment strategy (55%), (2) a distrust of the current financial system (38%) and (3) short-term trading opportunities (31%). ....

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