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.
5 Ways Going To School Online Saves You Time and Money
Woman Studying at HomeFor many working adults, earning a college degree is a long-time dream. Some want to complete the degree they started years ago before life got in the way, while others want to have the chance to go to college they didn’t have when they were younger.
Among the first considerations regarding going back to college is how much it will cost and how much time it will take. Fortunately, today the option of earning a degree online offers very appealing solutions. Here are a few reasons the online degree helps you save time and money:
1. SAVE TIME (AND MONEY) WITH NO COMMUTING
When you study online to earn your college degree, you don’t have to waste any time fighting traffic to get to campus on time for class. Not only does this save you time, it also saves a ton of money since you don’t have to add additional expenses to your budget for gas to get you to and from class.
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2. ENJOY MORE TIME LEFT FOR STUDYING
When you don’t have to worry about getting to and from class on campus, you can easily put that time to work for you by using it for studying, completing assignments, writing papers, etc.
Let’s face it, if you are a busy adult working full time or even part time, you already have a lot of responsibility. So not having to sit in class for hours on a rigid schedule gives you optimal flexibility and lets you fit school more easily into your life.
3. TAKE YOUR CLASS WHEREVER YOU GO
Being able to access your class from anywhere is the ultimate advantage for a busy individual. As long as you can get online, you can check in to class and participate in discussions, check assignments or communicate with your instructor.
Even at work, during a break or during lunch, you can take a few minutes to get online and do a little classwork or post an assignment you completed the night before. On vacation with the family? No problem, you can take a little time to check in online and participate in class.
4. SAVE MONEY ON CHILD CARE COSTS
As a parent and online student, you will be able to study from home, so if you have small children, you can save the costs of extra child care since they can stay at home with you.
This is another way to save time as well, you can get the kids situated at play or napping, and then spend that time doing your classwork rather than carting them to the baby sitter or day care center.
5. EXPLORE OPTIONS FOR FINANCIAL AID, SCHOLARSHIPS, AND GRANTS
Tuition is definitely a major part of anyone’s plan to go back to college; therefore, when you’re searching for the college or university that offers the type of degree program you want to pursue, it’s imperative that you find out all the details about tuition so there won’t be any surprises after you enroll.
Also, it is important to know that you will have the same opportunity to qualify for financial aid, scholarships and grants that the traditional college student has. Make sure you ask about these options to help you save as much money as possible as you pursue your degree.
When you consider all of the advantages of going back to college online, it’s easy to see why so many working adults choose online degrees to help them get ahead in their careers. Saving time and money in so many ways makes going back to school even more appealing to those who realize the importance of a better education to create a better future for themselves and their families.
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