Binance Review 2018: Comprehensive Crypto Coin Exchange
Binance is a Chinese cryptocurrency exchange. Binance was created after attracting funds via an ICO (Initial Coin Offering; creating a new digital asset, backed by the project. Changpeng Zhao, former CTO at OKCoin is currently at the helm of Binance. They are known for fast processing speeds coupled with an ability to process enormous numbers of transactions (1.4 million) each second. Its been quickly gaining ground in market share cementing a place as a top 20 exchange in terms of volume.
Binance transaction has reached a new level and currently score tenth place in the world. Binance offers a generous daily withdrawal limit. They dont need identity confirmation when the per day remittance is within limit of 2 BTC.
Binance Features
Binances trading platform is web-based. Furthermore it offers two distinct trading layouts, a more simple one and a Pro version.
Their ICO has created tokens named BNB that are traded on the exchange. They can also be used as a method of paying your trading fees, which will reduce them by 50%. Binance offers their own startup incubator platform as well. The trading functionality of the platform was of more interest so we focused on that for the purposes of this Binance review.
Below is the standard platform look:
Below is the advanced display:
BINANCE Advantages
Large Cryptocurrency Pairings Supported
The competitive advantage of Binances platform is the ability to trade every major cryptocurrency pairing in existence. Coinbase and Gemini only offer trading of a handful of the larger market capitalization cryptos, whereas Binance allows users access to trade over 100 crypto coins.
Low Fees AND LIMITS
The fee structure is simple as well as being priced. There is a flat 0.10% fee on all trading. The 0.10% fee on trades is one basis point. If you were to buy a cryptocoin at 100 youd have to sell it higher for 101 to profit.
Ease of Setup
Setting up an account is straight forward, similar to signing up for an account with other service providers. Another advantage is there is no lengthy waiting time, users are able to get setup and running within minutes. This is due to the fact that fiat is not accepted on the exchange.
Binance Provides Significant Trading Volume
Binance is currently the third largest exchange by cryptocurrency trading volume, according to coinmarketcap. At the time of writing, Binances volume was an astounding $5,441,711,452 in the last 24 hours! This volume demonstrates their users clear trust in the exchange, as well as the accessibility of the exchange and ease of transacting. This type of volume requires substantial servers and computational power.
Wide Support of Cryptocurrencies
No Verification Requirements
Binance doesnt require identity confirmation in instances when the per day remittance is within the limit of 2 BTC. The attractiveness of setting up an account with Binance may be greater for a user in a jurisdiction where certain exchanges choose not to allow new users because of restrictions imposed by that locations governing regulatory bodies.
Ease of Use
Youre able to buy and sell crypto pairings with market or limit orders while specifying the amount or percentage you wish to trade for each transaction.
BINANCE Disadvantages
No Leveraged Margin Trading
Margin trading is not available at Binance. Margin trading is a system which allows you to trade with more money than you actually have in your account. Your balance is then used as a guarantee to maintain your position open.
No Fiat Functionality
This has both advantages and disadvantages. Government fiat deposits are not currently enabled in Binance, instead this exchange focuses only on the digital side of things. Clients can deposit and withdraw the coins supported at the exchange. This means that youre not able to deposit or withdraw in fiat currency, only cryptocurrency is supported.
Relatively New
Binance was started in only July 2017, according to this Reddit post. This is a major concern, as they dont have a history. Despite all the good things people are saying on Reddit. its worth mentioning as many exchanges have come and gone. Binance appears to have a visible co-founder, unlike BTC-E.
Conclusion
Accessible option for obtaining Different Cryptocoins
Binance is the most rapidly-growing and communally praised cryptocurrency exchange available. Its China based location may spell issues in the future due to rumors of a crackdown. that currently accounts for a large amount of volume. Although Binance targets high frequency traders, it is quite useful for those getting beginning with altcoin trading. Their lack of fiat money deposits may be difficult to swallow for beginners, only supported cryptocurrencies may be deposited. Binance boasts a large number of various cryptocoins for trading.
The main benefit is the ability convert between cryptocurrencies. For instance exchanges such as Coinbase and Gemini are more limited in the number of cryptocurrencies offered. The interface is also conducive to support shorter duration hold time day trading of cryptocurrencies if one were so inclined to deploy that strategy. Binance is an exchange worth looking into and integrating into crypto trading just for their large amount of supported crypto coins.
Accident Forgiveness Included With Car Insurance Provides Peace of Mind
Car accidents can happen anywhere and to anyone. Even experienced drivers with good driving records are at risk of an accident so it makes sense to make sure you are completely protected in the event you are in a car accident. Today, more insurance companies are including accident forgiveness in their car insurance policies. The idea of including this type of protection is to make the policy more attractive to potential customers. Some companies charge a nominal fee for the program while others offer it for free. Because accident forgiveness is now just becoming more widespread across insurance companies, many people do not know how accidental forgiveness works.
The purpose of accident forgiveness is to protect drivers from an increase in insurance rates when they have their first car accident, even if they are found at-fault by their insurance company. Accident forgiveness normally covers the first at-fault accident. If the insured caused the accident due to engaging in an illegal activity, accident forgiveness will not provide coverage. For drivers with clean driving records, this program is very beneficial because after an accident, they do not have to worry about their car insurance premiums greatly increasing.
Not everyone is eligible for the program. For example, the following situations will normally make a driver ineligible: drivers that have a driving record of traffic violations such as speeding, getting in an accident, , drivers under 21 will likely not be eligible, and often first-time drivers such as teen drivers will not be accepted for the program as they are classified as high risk drivers. Also, if an adult has a high risk driver added to their policy such as their child, they may be ineligible for the program.
Today you can find many car insurance providers offering accident forgiveness with their car insurance policy. When talking to insurance providers, it is important to ask them if they offer accident forgiveness. The best way to locate economical car insurance is to do an online insurance search using a search comparison tool that allows you to compare insurance quotes from different insurance companies. These quotes are the lowest prices offered as the companies know they are competing for your business. When you find a car insurance policy that fits your budget, you can then inquire about accident forgiveness and if you are eligible for the program. Comparison shopping is the key to finding affordable car insurance.
With so many vehicles now on the road, you never know what can happen, even if you are a good driver. No one likes to think about the possibility of getting in a car accident, however, it is better to make sure you are protected in case you are in an accident. Accident forgiveness makes for prudent financial planning as it can help you avoid a significant increase in your car insurance premiums. The next time you are searching for car insurance, remember to ask about accident forgiveness. You will be happy you did if you find yourself in a car accident.
Useful Tips for Making Car Insurance Claims
The only way to maximize your auto insurance is to know the appropriate way of filing car insurance claims. By understanding the process of making a claim, you could maximize the amount of coverage you would get for auto insurance. You would even have the opportunity to get additional coverage for personal injuries once you have mastered the process of filing claims.
If you want to know more about the process of claiming money from your insurance agency, you should read this article. It explains the step-by-step process of what you should do when requesting your insurance company to pay for the damages your car has acquired.
Here are some useful tips that could guide you when filing for car insurance claims.
Secure important information
Before filing a claim, you should first gather all the important details your insurance agency would need to know before approving your claims. Get the license numbers and contact details of the people involved in the accident. If you have an auto insurance identification card, it could readily provide all the information you need about the accident. However, you should not forget to fill in all the details not mentioned on your insurance identification card.
Looking for eyewitnesses
After gathering important information, you should proceed to looking for some witnesses who would be ready to tell the authorities about what they saw with their own eyes. It would be impossible to have your car claims approved if you do not have any witnesses who could testify and narrate what happened at the scene. The police report could also help you if you are finding it hard to look for reliable witnesses.
Contact your insurance agency
The most important thing you should do is to contact your insurance company as soon as possible. Inform them about your situation and provide them with them with your insurance ID number.
If the other party is proven at fault of what happened, you should still file claims with your own carrier. Even though the insurance agency of the other party involved has the responsibility to protect your interests too, filing car insurance claims to your own carrier could speed up the process of getting your auto claim approved.
These are the most important things you should remember when making an auto insurance claim. Once you have done these tips, you could easily maximize the amount of coverage you would get from your insurance agency. Making car insurance claims would become easier once you have followed the organized process of filing insurance claims.
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