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.
How Does Online College Accreditation Work?
Online Education
Online education offers amazing opportunities to adults looking to take the next step in their careers. The flexibility and affordability of many online programs allow professionals to go back to school without quitting their jobs or sacrificing their personal lives.
However, not all online college programs truly offer the same educational value as a traditional on-campus program. When you’re researching an online education program, it’s important to verify that your school of choice is accredited.
What does college accreditation actually mean? An accredited college is one that has met the quality standards of a certain government agency or organization. An accrediting organization will check the quality of a school, its courses, faculty, and overall programs. If a school meets the standards set by the accrediting organization, the school will be granted accreditation.
Another thing to consider here is the quality of the accrediting organization itself. You want to check that the accrediting organization is recognized by the U.S. Department of Education. By researching both the college and the accrediting body, you’ll get a strong sense of the education quality you’ll be receiving.
You should also understand the difference between national and regional accreditation. Generally, regional accreditation is the superior credential. There are only six regional accreditation agencies, and all are certified by the U.S. Department of Education. Credits earned from regionally accredited schools are the easiest to transfer, and regionally accredited schools will be the most respected by employers. Choosing a regionally accredited online college is the best way to ensure you’re getting a quality education.
How to Research Accreditation Status
Fortunately, prospective students have many tools available to research and understand college accreditation status. You can begin your search at the Department of Education’s database of accredited postsecondary institutions and programs. Simply enter the name of the college you want to research, and you’ll quickly see their accreditation status.
In order to research the accrediting organizations, you should be aware that in the United States, there are six regional accreditation boards that evaluate traditional on-campus colleges as well as online colleges. If the college you’re researching has been accredited by one of the organizations below, you can be confident that it has legitimate accreditation status.
The Middle States Association of Colleges and Schools
Northwest Commission on Colleges and Universities
North Central Association of Colleges and Schools
New England Association of Schools and Colleges
Southern Association of Colleges and Schools
Western Association of Schools and Colleges
However, if your college of choice isn’t accredited by one of the above organizations, that doesn’t necessarily make it a bad choice. For example, the Department of Education recognizes the Distance Education and Training Council as reputable accreditation body. You can do more research on accrediting organizations by visiting the Council for Higher Education Accreditation.
Why is Accreditation Important?
Choosing an accredited online college offers major advantages to prospective students. The most central value of an accredited online education is simply a guarantee of quality. These days, anyone can put up a website claiming to offer online education. A fully accredited online college has met the same educational standards as a traditional college, and therefore is very likely to offer a meaningful, quality education.
Along the same lines, employers are much more likely to respect an accredited online college degree. When you earn your degree online, you can be confident in adding it to your resume, knowing that your online education has met the same quality standards as any other college.
You should also consider the value of being able to transfer your credits. Usually, credits you earn at a fully accredited online college can be transferred to other colleges, both online and on-campus. This is generally not the case with unaccredited college courses.
Ultimately, anyone planning to attend an online college should conduct a careful research process and understand the accreditation status of the school they hope to attend. At Patten University, we are fully accredited by the Western Association of Schools and Colleges, the same organization which accredits Stanford University and the University of California, Berkeley. To learn more about Patten or online college accreditation in general, please contact us today.
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