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.
Some Benefits of Hiring a Family Lawyer
In a family, a family lawyer is essential to cover legal issues that may arise along the way. Such a lawyer is able to take care of a number of cases such as:
· Surrogacy and adoption
· Termination of relationships
· Marriages and divorces
· Juvenile adjudication
· Domestic violence
· Civil unions
· Domestic partnerships
· Paternity testing and child abuse etc.
Having a family lawyer on retainer reaps a number of benefits such as:
· With the presence of a professional, knowledgeable and competent family lawyer, issues that arise in the family needing legal aid are able to be dealt with, and result in positive results. Such a lawyer is in a good position to advise the family, depending on the situation as to what the next best course of action should be.
· A family when faced with legal challenges can be emotionally charged, with the presence of an experienced family lawyer, such instances are sailed through with as little negativity to the family as possible. The lawyer is able to provide legal as well as emotional support especially in cases such as divorce, and child custody that can be emotionally charged.
· A family lawyer can help draw up trust fund documents that will safeguard a family member's financial future, especially for the children. The same lawyer can also help the family deal with juvenile delinquency cases as well as emancipations.
· A family lawyer can also help unmarried couples who wish to cohabit draw up legal documents that will safeguard their future. One such document that can be drawn up is a domestic partnership document which will deal with events such as separation and death.
Hiring a family lawyer is therefore essential for solving the family's legal problems; however, before hiring one, there is a need to look into a number of factors. Some of the factors you should consider before hiring a family lawyer include:
· Experience, you should make sure that the lawyer's experience is exactly what you are looking for, depending upon the situation. Request for references from previous clients where possible, also look into the said lawyer's reputation. On an online platform, you can look into reviews that were left by others concerning the lawyer.
· Request to have a consultation with the said lawyer before hiring, ask all the questions you need answers to with regards to your case and also where possible, interview all the staff at the firm that will be working on your case.
· The lawyer should be a part of the National Association of lawyers, this will help you gauge their level of experience, reputation as well as whether or not they have disciplinary cases against their name.
Protecting Your Business With Commercial And Insurance Law Service Providers
If you are a small business owner you need to be protected in the big business world with a law firm who knows commercial law. Your business needs protection against little business and big business and consumers who try to file lawsuits without cause and you need to know your rights in insurance law.
For all needs legally, a small business needs this protection for commercial law. The reasons are many, because as a small business you can face any amount of legal challenges and having a good law firm behind you for insurance law.
Here are several reasons for having a knowledgeable lawyer who knows commercial law.
Contract Negotiation
Making sure your insurance is the right fit for your business
Contracts with suppliers
Civil litigation from the public
Your property rights
Legal troubles often come in the form of small print on contracts. Having someone who can show you the law on these areas is part of having a business so you can run your business properly without worry in insurance law. Insurance lawyers are constantly on the go because the laws change even daily in favor of the insurance industry protecting them against the consumer and the business owner. The small business owner needs protection in insurance law.
Knowing what you are responsible for is important. You will have that extra edge because you are properly protected by a law firm who specializes in and practices commercial law.
If a supplier is supposed to deliver and goes out of business do you know what your rights are in commercial law? If a supplier doesn't deliver what they were contracted to deliver and you are waiting on supplies to do business, are you protected against this? Does your lawyer know about commercial law?
As laws change you need to know the fine print on your insurance contracts because the insurance companies know their rights on insurance law. What about big businesses who try to run you out as a small business on your property because they want to enlarge? It happens unfortunately, but having a good lawyer can stop this when you know your commercial law.
Having a good law firm is important to protect your assets as well. Did you know that one civil suit from a consumer could run a small business into bankruptcy? With the right law firm you are protected in insurance law. This can be avoided because having this knowledge can be vital to a small business and its owner in commercial law.
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