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.
How to Get Low Cost Car Insurance By Picking Your Car Carefully
Looking for some affordable vehicle insurance? Well, you're going to have to think about your car. Yes, we've already touched on this subject on another article, but this topic deserves a part two. Having said that, your car can have a very significant influence on the kind of premiums you're going to get.
Let's face it. Owning a fast car is one way of making sure that your car insurance company is going to increase your premiums. Sports cars are the most obvious examples of cars having a detrimental effect on your insurance premiums, but other models, like gas gusslers and SUV's can also have a certain effect on how much money you'll need to pay for your policy.
However, the amount of money you pay for a particular car is not the only issue that you should concern yourself with. In addition to that, you will also need to take into account other factors.
Repair Costs - The cheaper it is to repair your car, the cheaper and easier it will be to insure. On the other hand, if your car requires a lot of money to repair, even though it costs average relative to other models, then that can have a bad impact on your car insurance costs. It's worth remembering that more than a half of the money car insurance companies pay out cover repair costs. So if you can get a car that's easy to repair, your premiums will be a lot cheaper.
Security and Safety - If your car includes safety gadgets then you are well on your way into finding a low cost premium. Better brakes, air bags and alarms are of course vital for keeping your car... and you safe on the road. And considering how car insurance providers don't want you to get involved in accidents, and thus forcing them to pay out money for your expenses, you can be sure that they are going to charge you a higher premium.
Age of Your Car - The age of your car, and how long you've been driving it may also affect what sort of car insurance policy you're likely going to have. As you know, older cars have a cheaper market value, so that may help lower your premiums. However, it's also possible to have an older car which, due to its age, is more prone to accidents. If that were the case, you may want to speak with your vehicle insurance provider on how that affects your premiums.
Our Teenage Daughter Wants To Get Her Driver's License
Our teenage daughter wants to get her driver's license. Hold on. She's not old enough. Why, just last year I was coaching her 6th grade basketball team. But then my wife reminds me that it was four years ago when I was her coach and she's now a sophomore in High School. In fact, she'll be 16 in less than six months.
OK. Fine. Maybe I can convince her to wait until she's 18 to get her temporary license and then perhaps after graduating college she can get her permanent license. Seems like a perfect plan until she comes in the door one day with my wife, beaming with excitement holding something in the air. I assume it's her latest report card.
"Dad! Dad! Look at this," she says. "I have my temps. I'm going to be driving." I smile at her because I don't want to take away any of her exuberance. "That's great, honey," I say, as I walk in another room trying to compose myself. It will be all right. Heck, she'll practice for a few months and probably only drive very short distances for a while. In fact, maybe she'll forget about the whole thing!
From the other room, I hear her telling my wife," I can't wait to drive to California this summer. It will be so cool being able to drive across the country." It was now time for me to take my blood pressure medicine. Oh, that's right. I don't take blood pressure medication. Well, this might be a good time to start.
A few weeks later, on a Saturday afternoon while I was watching one of Miami University's rare TV appearances, my daughter, after driving all week with my wife, asks if I can take her to a friend's house. Sure. It's only a mile way and I'll only miss a few minutes of the game.
Moments, later, as I walk out to the car, I notice something out of place. My daughter is sitting in the driver's seat, not the passenger side. OK. I'm sure there's an explanation. Maybe she just wants to get the feel of holding the steering wheel. Surely, she's not going to drive. Is she?
"Get in Dad," she says. "I'm driving. Just relax and enjoy the ride." OK. I'll relax. No. I won't. We're actually moving. Down the driveway we go and in a matter of minutes we're on a road with other cars. Before I have time to panic, we're going about 11 miles per hour in a 35 mph zone. I tell her that we can speed up a bit. And we do. All the way to 12 miles per hour. I want her to drive slowly but I also want to get home before football season ends.
So the driving is coming along nicely and although I can't fathom the thought of my little girl driving... I know I can't fight destiny. But I can still maintain some control. It's my car and I'll be driving it most of the time.
Or so I thought, until my daughter asked where the key to "her car" was. Say what? I reminded her that I was the one that paid for the car, the insurance, the gas and any repairs. Somehow that got lost in the translation because she just gave me a hug and said, "that's nice of you Dad. I figured I would have to at least pay for the gas."
She passed her driving exam with flying colors and now she has her license. I'm OK with that. She's actually a pretty good driver. She keeps her eyes on the road and stays under the speed limit. I'm very comfortable with her driving me different places.
In fact, right now, I'm relaxing on the couch, watching one of my favorite Seinfeld reruns. This episode, I have seen only 12 times. I am curious, however, where our daughter is, because my... ugh, I mean, her car isn't in the driveway.
I ask my wife where our daughter went. "Oh honey," she says. "She said something about driving to LA. She'll be back before you know it."
"LA?" I say. "That's it. I didn't think she was serious about driving to California. I'm going outside to pace for a few days. And please get my blood pressure pills. I really need them."
"Settle down," my wife says. "LA" is just a store in the mall. And remember... you don't take any medications."
"Oh yea?" I say. "Maybe this would be a good time to start. I think right now I'll drive to the doctor's office to see about getting a prescription."
"No you won't," my wife says. "Remember... you don't have a car any more."
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