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.
Drivers in Florida Are at Risk - How's Your Auto Insurance Coverage?
Florida is a rather dangerous place to drive. In fact, there was one traffic death for every 6,300 people during 2008, according to the National Highway Traffic Safety Administration (NHTSA). Knowing this, you are going to want to make sure that your auto insurance provides good coverage in case of an accident. Let's look at some of the risks of driving in Florida and discuss why auto insurance is so important.
The state of Florida has a worse fatality rate than the country as a whole. This seems a little strange because in some aspects of road safety Florida is doing better than other places. For example, only 19% of traffic deaths in Florida involved excessive speed, In many other states, the figure is substantially higher, around 30-40%. In addition, the percentage of traffic deaths related to impaired drivers in Florida is a little lower than the national figure. So what's the problem?
One factor in Florida's high traffic fatality rate is people's failure to wear seat belts. A survey done by NHTSA found that 82% of persons in passenger vehicles were buckled up. That's not a bad showing, but it's not great, either. An estimated 818 lives were saved by seat belts that year. However, another 340 victims could have been saved if everyone in a car crash had been wearing seat belts.
Motorcycle helmet use, or rather the lack of it, also contributes to the high number of traffic deaths in Florida. Although an estimated 170 lives were saved by motorcycle helmets in 2008, another 100 victims might be alive today if they'd been wearing helmets.
In spite of the high traffic fatality rate in Florida, the state has relatively low auto insurance requirements. Florida law requires you to carry at least $10,000 of personal injury protection and $10,000 of property damage liability. You will also be financially responsible for bodily injuries to a limit of $10,000 per person and $20,000 per accident. If you wouldn't be able to pay that amount from your own assets, you should buy bodily injury coverage for at least that much.
Although you probably want to save money on auto insurance, buying the absolute minimum required by Florida law can be a poor decision. If you are found to be at fault in a crash, you could be sued for any damages that exceed your insurance limits.
For adequate protection, you should think about buying bodily injury coverage to a limit of $100,000 per person / $300,000 per accident. In addition, you should also buy property damage coverage of $50,000, plus uninsured motorist bodily injury coverage of $10,000 per person / $20,000 per accident.
This might sound like a lot of insurance, but such amounts are quite reasonable when you consider the actual cost of many vehicle crashes in Florida. You might also want to increase your limits for personal injury protection and add coverage for medical payments, collision, and comprehensive.
It's important to choose wisely when you're purchasing Florida auto insurance. Shop around and get several quotes from different insurers before you make a decision to buy a policy. And don't skimp on the liability coverage - the money you may save on premiums is nothing compared to what a serious accident could cost you. Buy a large enough policy to protect yourself and your personal assets.
Tips For Finding Inexpensive Car Insurance Today
Many people are finding that they need to reduce their spending as a whole. This does not mean just for the extras such as eating out or going to the movies. It can also mean things such as finding inexpensive car insurance and other things that are required but that can be very expensive. Learning ways to reduce your overall spending will be important for balancing your household budget today.
The first thing that you need to do when you are trying to find lower cost vehicle coverage will be to learn the minimum requirements for your state. Obviously you do not want to get coverage that does not mean the legal limits as set by your government. So having this knowledge will be very important to you when you getting quotes.
Your second step will be to get estimates from several different companies for identical coverages. Make sure you ask for detailed information so that you can be absolutely sure that you are getting estimates for the requested coverage. Some companies might offer a lower liability limit or a higher deductible to give you a better rate.
The third step is going to involve comparing the quotes to find the one that fits best with your budget. By taking the time to compare each one, you can learn where the differences lie. You can also determine if a company is adding one things that you do not want. This practice can lead to higher rates for you as well. Things such as roadside assistance might be convenient when you need it, but it can cost you more at the same time.
After you have compared the rates that you have been given, you can make a decision as to which company offers the best possible rate. If you have a current company and did not request a new estimate from them, you might take the time to offer them that option at this point. You might find that they will lower your premium in order to keep you as a customer.
Getting inexpensive car insurance can be time consuming in the beginning. However, in the end the substantial savings that can be realized will be well worth the amount of time that it took to reach that point. Many companies offer you the ability to purchase online as well, saving you more time in the long run. Getting various estimates from many different companies can help you to balance your household budget quickly and easily.
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