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.
Why Your Family Needs Funeral Insurance
By Dave Moller | Submitted On May 29, 2012
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A lot of individuals do not know the importance of having funeral insurance. They fail to take time to research what kind of insurance this is and what its benefits are. If you do not have a good policy, your family would be left with the financial burden of your untimely demise. This can be very hard for them thus you need to consider their plight should you go away.
When a family member passes away, this can bring pain, confusion and trauma to the remaining family, especially if the deceased is the breadwinner. If you depart from your family members without insurance, financial difficulty would be added to their mixed emotions thus burdening them even more. If you have funeral insurance though, they would not feel hampered with your death and they would be given the chance to really mourn for the loss.
When you look for this kind of insurance, make sure you get a coverage that can really benefit your family immediately. Choose a company that can make a payout within 24 hours.
Death cannot be postponed therefore your family needs that check as soon as possible for the funeral expenses. Choose an insurance company that can even triple the benefits if the cause of death is an accident.
A funeral plan usually has a lump sum payout that would depend on the insurance coverage you avail of. This shall cover most of the funeral expenses. If you have been paying for 12 months or more, you will have 10% cash back annually. If you die, your beneficiary or family gets immediate access to the amount in your coverage. The age of coverage of such insurance is 120 years old.
You and everybody else really need a funeral insurance plan for the benefit of your family. However, not many people think this way. The persons who really need to get such coverage are the heads of the family who serve as the breadwinners. If you are the breadwinner, you need to give your family security by taking care of your funeral expenses.
If you have reached 50 years old, it is time to get funeral cover. This is the period of your life when you are aware that death is just around the corner because of age. This is a reality that you and everyone else must accept. With a burial insurance, you will be assured of a good funeral arrangement and service.
Those with a small family member should really get funeral insurance. Funeral expenses are exorbitant and if there are only a limited number of family members, it would be economically difficult for them to divide among themselves the cost. A funeral insurance plan would make them heave a sigh of relief.
If you have a job that is risky such as that of a pilot, soldier, construction worker, chemist and the like, you will really need funeral cover. You are close to death therefore it would be smart and practical to plan your funeral should the unthinkable happen. You are then assured your demise would not be taxing to your family.
These are the reasons why you and your family need funeral insurance.
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