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. It’s 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 don’t need identity confirmation when the per day remittance is within limit of 2 BTC.
Binance Features
Binance’s 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 Binance’s 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 you’d 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, Binance’s 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 doesn’t 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 location’s governing regulatory bodies.
Ease of Use
You’re 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 you’re 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 don’t have a history. Despite all the good things people are saying on Reddit. it’s 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. It’s 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.
Factors To Consider When Looking For Motorcycle Insurance
When buying good motorcycle insurance, one of the things that many people do not understand is on how go about the process. There are many things that one should consider before opting for any single policy at the face value. It is however important to note that insurance for your motorcycle is a required by law and you should not operate without it. In addition to the fact that it is a legal requirement, the insurance cover works to protect you and your bike in case something was to happen to you. Getting the best insurance policy may not require that you go for the most expensive cover and therefore should not be ignored at all.
Getting motorcycle insurance today is far much easier compared to the past few years since you can be able to locate a company through the internet right from the comfort of your home. The insurance quotes are easily accessible and this will help in the decision making process. It is therefore important that you shop around for a number of companies and know what they are charging before settling on one. It is however important to consider a number of factors before deciding on which insurance company to deal with. Below are some of the things that you should consider:
• Although it is important to consider the best price when choosing the motorcycle insurance policy, it must be said that this ought not to be the main factor that you look into. It does not mean that the cheapest policy available could be the best and other factors need to be taken into consideration as well.
• In case you already have a company that you are dealing with (for other insurance covers), check with them to know whether they have motorcycle insurance policies to offer. This might qualify you for some discount as you combine what you have and this new cover.
• Just like with the auto insurance, you should be able to consider the stability of different insurance companies to see whether they are financially stable to support you in case of anything. Most companies have been in the market for many years and they have sufficient reviews from their customers something that could help you to know whether they are reliable or not. Use this as a tool to help you decide.
• You should also take into consideration a policy that offers you the maximum coverage incorporating things such as a liability and medical cover.
There are however numerous things that you should understand when looking for motorcycle insurance. These will be used by the insurance company that you choose to determine the rate which you are supposed to pay for the motorcycle. Below are some of them:
• Your age will be a consideration when buying a motorcycle policy. The older you are, the cheaper it will be.
• Your place of residence. Those who live in the rural settings are normally charged lower rates than those in the urban areas.
• The duration for which you have held your license and your experience on the road will be used as a determinant for the rates.
• Your credit rating will also be a determining factor.
• Gender is also a factor. Men will pay a higher rate compared to ladies.
You will get different rates from different providers allowing you to make your choice depending with the motorcycle insurance you are looking for.
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