The availability of MYX Finance (MYX) on Binance and the concerns about high fees are worth unpacking. MYX Finance, a BNB Chain-based decentralized derivatives exchange, isn’t exclusive to Binance. It’s listed on multiple centralized exchanges like Bitget, Ourbit, and MEXC, as well as decentralized exchanges (DEXs) supporting BNB Chain, as noted in market data. The claim that MYX is "only on Binance" might stem from misinformation or outdated perceptions, possibly due to Binance’s dominance in trading volume and visibility, with over $217 billion in daily volume across its markets. Always cross-check token listings on platforms like CoinMarketCap or CoinGecko to confirm where a coin is traded.
Regarding the "2% hourly fee," this sounds highly unusual and isn’t standard for Binance or most reputable exchanges. Binance’s spot trading fees typically range from 0.1% to 0.5% per trade, with discounts for using BNB or higher-tier accounts. A 2% hourly fee is not mentioned in Binance’s fee structure and could indicate a misunderstanding, a specific high-leverage futures trading scenario, or a potential scam. For instance, some platforms like CoinUnited.io offer up to 2000x leverage on MYX, which can amplify costs dramatically, but even then, a 2% hourly fee isn’t standard. If this fee is tied to a third-party service, bot, or unofficial platform, it’s a red flag—crypto scams often promise high returns while charging exorbitant fees.
The "scam" perception might arise from volatile price movements (MYX has seen 82-167% price swings in 24 hours) or unverified platforms. However, MYX itself appears to be a legitimate DeFi project with a $16-25M market cap and $5-51M in daily trading volume. To avoid scams, stick to verified exchanges, double-check fee structures, and never send funds to unverified wallet addresses promising returns. If you’re encountering this fee on a specific platform or service, share more details, and I can dig deeper. Always be skeptical of too-good-to-be-true promises in crypto—due diligence is your best defense.
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