Binance is widely considered to be a top cryptocurrency exchange. At the same time, their approach to crypto-assets can be improved. It is not unthinkable a better platform will emerge over time, capable of rivaling this industry giant. Binance is a Cryptocurrency Behemoth Anyone who is familiar with cryptocurrency will acknowledge Binance is a household name. The company does a lot of things right. It is the exchange with the most liquidity, it has over 15 million users to date, and it pays close attention to new trends in the industry. Additionally, its Launchpad service can facilitate Initial Exchange Offerings, giving users more reasons to sign up for their platform. Moreover, the Binance brand is separated into different entities, catering to specific user groups. Binance.us, for example, is tailored to the needs of American and Canadian cryptocurrency enthusiasts. The company has created similar entities in other regions, all in an effort to increase its market position. All of this goes to show that Binance is clearly the market leader among exchanges. Not only does it have the highest volume for spot trading - currently over $5.3 billion per day - but it also provides access to derivatives, leveraged ETFs, and it has its own BNB token as a core trading market. That is also where the positive aspects of Binance will end for most cryptocurrency users. When it comes to providing early access to new tokens on the market, for example, it is clearly behind smaller companies. In fact, there are several exchanges that easily beat Binance to the punch, particularly where DeFi tokens are concerned. The DeFi Token Listing "War" In the cryptocurrency world, most people simply want to make money. To do so, they need to be able to buy new crypto-assets at cheap prices before their value potentially explodes. Not all assets will go through such a cycle, but there is often money to be made by buying new tokens at an early stage. This has become apparent where DeFi assets are concerned. Being able to acquire them shortly after their launch is paramount. In Binance's case, this is where the exchange falls short more often than not. Although all major DeFi assets make their way to Binance eventually, it is not known for providing investors and speculators with the most opportune to buy. In fact, several smaller exchanges continue to beat Binance to the punch in this segment. Platforms such as MXC Exchange tend to list prominent DeFi tokens a lot quicker than their competitors do. ( : ) Disclosure The author of this story is the Director of Global operations for MXC exchange That in itself is remarkable for many reasons. I find it baffling that companies with far fewer resources than Binance can do something this behemoth is seemingly incapable of. It does not take much effort to list what customers want, and then act on it in a timely manner. Major DeFi Tokens Arrive Late on Binance When looking at some of the top DeFi projects, their native assets have been listed on the likes MXC Exchange and others well ahead of Binance, Kraken, or . Whereas the bigger entities maintain a "wait-and-see" approach, the others gain a competitive advantage, attributing to their overall appeal and popularity. Coinbase To provide some examples, tokens such as COMP, CRV, CREAM, YFI, MKR, and UMA were all listed on MXC Exchange or other smaller exchanges well ahead of Binance even thinking about doing the same. It is a very competitive space - especially where DeFi tokens are concerned - but that is always a good thing. Coinbase Pro recently added a listing for Nucypher to its platform. In the DeFi space, this is a very prominent project. It was added to the smaller exchanges mentioned earlier more than a week earlier, giving investors plenty of time to scoop up NU at a low price. When one exchange remains the "king of the hill" for an extended period of time, a degree of centralization kicks in. That is counterproductive, particularly in the cryptocurrency industry. Users want choice, competition, and access to their favorite assets as quickly as possible. Whoever can provide that complete package has a genuine chance of dethroning Binance as the go-to exchange in the future. I firmly believe this will be a matter of time. Leveraged ETF Competition Heats up It has to be said, smaller exchanges may take fewer risks when listing the next DeFi token gaining some sort of momentum among enthusiasts. A company such as Binance is known for thoroughly vetting code and use cases prior to listing additional assets. Even so, that process seemingly takes too long for a lot of people, especially those who focus on speculation first and foremost. Furthermore, it is crucial for new crypto projects to find exchanges willing to help them with liquidity. For many developers, having their token listed on Binance or Coinbase is the ultimate goal. Many of them will never reach that stage and dabble with some of the more obscure and lesser-known trading platforms. More often than not, that spells the end for those projects. It is now clear that there are "intermediary" exchanges that will not only prove beneficial for liquidity but also seem to serve as a warning system for bigger exchanges to pay attention to specific listings. That is a unique position to be in and something that will, in my opinion, only become a more outspoken advantage than ever before. As these smaller exchanges gain more momentum, they will begin rivaling Binance in other departments as well. When it comes to leveraged ETFs volume, the competition is heating up. Binance's lead may remain intact for now, but the platforms offering early token listings see their users explore this trading vehicle on their platform, instead of users going back to Binance to do so.  It is a sign of a major shift in market share waiting to happen. Conclusion It is evident that no trading platform will be able to take the crown from Binance overnight. That being said, I do see several signs of how other exchanges perform certain business practices in a better way. Keeping the users and their needs in mind has to be the number one priority for all platforms. For Binance, that aspect seems to be taking a backseat to other aspects the company is focusing on. Only time will tell who is taking the right approach and where people will prefer to go for all of their trading needs. ( : ) Disclosure The author of this story is the Director of Global operations for MXC exchange

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