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.
10 Super Sales Tips to Smash Your Records
Sales methods and techniques are meant to give you a boost in your sales figures. Here are the top 10 salesman tips for a better salesmanship. I tried to explain all these top selling techniques in a very lucid and practical manner.
Sales Tips For Success: Why Required?
Sales methods and techniques are meant to bring the true salesmanship out of you. Moreover, sales methods and techniques help you in identifying your loopholes and improving sales figures. But you may find some of the salesman tips (secret weapons you possess) are not working effectively as it used to be.
Hence, you need to switch out of your old-fashioned approach of selling and try new top selling techniques to smash your own sales records.
Top 10 Selling Methods and Techniques
Help people to make decisions
Offer a cup of coffee
Sell in a bundle
Make your words fancy
Repackage the product
Take the pre-booking approach
Accept debit and credit cards
Be a specialist
Long time experience in the business
Do not compare with the leading brands
1. Help people to make decisions: You may be surprised, but it's a fact that most the people find it difficult to make decisions. To be more straightforward everybody is not that smart. People believe your words, slogans etc. in your advertisement. You are saying "This health drink is good for your child's health- better immunity, strengthen bones, sharpen minds bla bla bla... ". A popular brand like Horlicks does the same to convince buyers.
You are not lying but playing some psychological tricks. Your products surely not to have these supernatural qualities and customers are also not going to test your products in a laboratory. But your salesman tips work. You are helping them to take the decision or convincing them that they aren't taking a wrong decision if they buy the product. Surprisingly, this is one the top selling techniques applied comprehensively.
2. Offer a cup of coffee: Believe it or not, is an effective sales tips for success. A lot of deals can happen over a cup of coffee. On a fine winter evening, you entered a garment showroom to find a jacket of your choice. And you are greeted with a cup of coffee (sign of a true salesmanship). You are pleased. Enjoying your coffee and the salesman is busy demonstrating their best collections.
Now in such a scenario, it would be hard for you to ignore such hospitality and only a moron can get out of the place without buying the jacket. These tiny gifts or presenting small sample packs of our products help us in pleasing the customers and inspire them to buy.
3. Sell in a bundle: In a store, you have varieties items- some are good, some are mediocre and some are bad. These products are not categorized in terms of quality but, in terms of popularity among customers. Good items have lesser margin than the bad ones. Now, what will you do to prove your salesmanship? Give up the bad items? That is not a very good idea at all.
So, sell in a bundle. Make offers or combo packs and schemes to sell both good and bad things altogether. These sales methods and techniques are frequently followed in restaurants, fast food joints like Dominos, Pizza-Hut, shopping malls etc.
4. Make your words fancy: Don't lie, don't fraud (which are against salesmanship), but say your words in such a way that makes life fantastic. Using tricky words are part of the sales methods and techniques. "A cup of coffee can make you rich- what?" You wonder and your curiosity will drive you to read further. People like shortcut methods to gain, achieve and to be successful.
That's where the salesman tips work. Convince people to make a connection between their life and the product offered. Use of carefully chosen fancy words with your products help the customers to find out the usability of it in their lives and how's life going to be better.
5. Repackage the product: Apply these salesman tips when it's hard for you to find an answer for the flop performance of your product in the market even though you know how good it is. Mind it, it needs some makeover. Simply changing label may not do, you have to rebrand it or change the name, put a comparison with competitors, show up the advantages your product offers and how life changing it is.
If your product is inexpensive you can increase the price. You will be astonished to learn that people believe the products with obscene price tags more than the lesser one. Adding the words like 'New', 'Special' etc. to the name add value to the product and obviously customers like them. Lots of big brands rely on these sales methods and techniques to augment their sales figures.
6. Take the pre-booking approach: In this way, you can create some really crazy mob, insane to buy your products. You are showing up a product, describing its features and everything, but you are not offering it for sale. This is a tricky salesmanship. Actually, you are creating hype about the product asking your potential customers- have a look at such a great product and blissful to own it by booking it now. It creates an ambiance- be the first to own it or wait till the next lot comes.
Some companies who have already created popular brands often go for this type of marketing like Apple Inc. This way you are collecting a huge sum of money before the product is released and of course, it's better for you, because then the customer doesn't have a chance to back out of the deal if they hear your product isn't so great.
Once they receive the product the connection between the product and the money they paid has long gone. Even if your product isn't great, they will not feel deprived because it's like they are getting it for free. The longer the time between pre-order and release the better.
7. Accept debit and credit cards: Believe me, it's one of the effective sales methods and techniques. It's a fact that business outlets accepting credit/debit cards do more business than their counterparts depend on cash transactions only. Most of the people find it difficult to part with hard cash. They see it as an instant loss. Moreover, there is a constraint of cash in their wallet and the customer may shy away from buying a product if it exceeds their wallet.
But in case of credit card, people rarely behave with frugality. In many cases, credit card bills are not paid by the user himself, which make them more lavish while spending. Use of cards gives them the freedom to spend more lifting the constraints of carrying hard cash, which ultimately helps in augmenting the sales figures.
The credit card companies charge an extra fee for transactions, so if possible you shouldn't charge the same from your customers and this will encourage them to use cards frequently. To add further, some discounts may also be given if a customer buys more than a certain limit. Remember, the more methods of payment you accept, the more money you'll make.
8. Be a specialist: You are running a shop and your salesmen are labeled in an old-fashioned way like sales executive, junior salesman and so on. Trust me, your customers will not be impressed with their demos and explanations for a particular product even if they explain things in a best possible way.
But, suppose, a customer enters your shop for a laptop and is introduced to the same guy having a designation as laptop expert, it would not take much time to convince the customer. These salesman tips work great. The customer feels confident since the salesman is an expert and he cannot suggest something bad, no matter what rotten knowledge he has about the product.
9. Long time experience in the business: These salesman tips have positive effects, if you tell, you are in the business for more than 10 years, people find it comfortable to deal with you. It's psychological. A customer naturally gets some confidence in your salesmanship and believes that you know all the pros and cons of the product you are selling. This feeling among the customers certainly improves the sales figures beyond your expectation.
10. Do not compare with leading brands: You may know, that your product is better than some of the leading brands, but do not tell this to your customers. It may take a toll on your salesmanship. Because if you make a comparison with leading brands it creates a feeling in the mind of customers that you are trying to screw them.
A customer knows that the popular brands are of high quality and he is accustomed to it. Now if you tell him that brand is inferior to your one, you are hurting his ego. This ego will not let him purchase your product no matter how's best it is. So, your approach should be a bit polite. First, let him try your product and then tell him why it's better than your competitors.
Conclusion
These sales methods and techniques were tried and tested in many cases and results drawn out of it are very positive. But if you want to see those sales tips for success you have to practice these tips based on their practical situations and not in stereotype way, it's a guarantee the seller will not be deprived off. Sometimes it's even necessary to go for unethical sales tricks to survive the competition. Remember ground application salesman tips rests on you. The better you convinced, the better you can convey.
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