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.
Do you know that more and more homemakers are trading forex? Do you know more and more homemakers are achieving success in forex trading? Do you know that homemakers are the most suitable candidates to succeed in forex trading? Internet is becoming cheaper every year and so is the price of computer or notebook. The knowledge of forex trading is also spreading very fast to reach every corner of the world. This combination resulted in the increasing number of new forex traders every year. The data from BIS Triennial shows that the daily turnover of global forex increased to $4 trillion from $3.3 trillion. And the data showed that the increase was driven by 48% growth in turnover of spot transaction. According to that international survey, spot transaction accounts for 37% of the overall daily turnover of the forex. By spot transaction they mean the retail forex trading sector. Can you imagine how many people are out there trading forex? Moreover, the number is increasing. I guess there is no need to tell you that homemakers made up the biggest number of participant in retail forex trading today.
You just read the statistics now let's get to the reasons, 7 excellent reasons why homemakers should trade forex:
1. To make extra money. If you want to make big money you must go to where money flows abundantly at incredible size and speed. The forex market is no doubt the best place to make money. With $4 trillion turnover on a daily basis there is always a chance to make money.
2. To take advantage of the free time. Money however, is not always the primary motivation that drives people to trade forex. Homemakers naturally have the most abundant time especially in-between their daily routine. A wise homemaker will take advantage of this free-time slot to do something worth while. There are other things which a homemaker can do to fill this free-time and forex is one of them. You can learn about forex trading and through this learning your brain will be trained to observe economy, human behavior and making a business plan. All of them are interesting subjects to learn and this will also make your every day life much more interesting.
3. You don't have to go to college to learn forex trading. What's great about forex trading is you are not required to finish certain degree in college to be able to trade. All you need is knowledge, information and training. However, that does not mean that you can just pick knowledge and information from anywhere do your own training. The best thing to do to be successful in forex has always been to learn from someone great at it.
4. Forex is the largest part-time business model in the world. This is the truth. In the forex market you will find people from every profession there is. Even those who do not work are trading forex and they make money from it. Employees are doing it in the office. College students are doing it too.
5. You can access the forex market from any spot on earth. Another great thing about forex trading is you can access the market from anywhere on earth as long as you have internet connection. The technology today is advancing very fast and so is the gadget to handle the technology. You can use wireless connection while you're not home and access the market whenever you want to.
6. You can set your own schedule. Forex market is a market that is open from Monday morning Australian time to Friday evening U.S. time. There is no lunch break or market close during the week in this market. Because of that, you can set your own schedule and the market will still be there whenever you are ready to enter the market. You also don't have to worry about the liquidity of the market because the market is still liquid no matter what time you trade during the week. This flexible schedule makes forex trading the favorite among online businesses.
7. Low entry point. You don't need that much money to be able to trade forex. You can't open offline business with just $10,000 but you certain can open a forex account even with just $500. That being said, having only $500 in your forex account is not recommended if you want to make serious money from forex.
8. There are several ways to make money from forex trading. Yes, that is right. You can make money from your own effort, you can hire someone professional to send you trading alert or you can hire someone professional to trade your forex account. Each of them has pros and cons so the choice really depend on what you want to achieve in the long run.
9. Unique opportunity to make money. In forex trading, you can make money by buying first and selling it later but you can also make money by selling first and buying it later. Essentially, this mechanism grants you the opportunity to make money when the price of the commodity is going higher and higher or when the price is going lower and lower. This kind of transaction is not that common in our daily life. Usually, only companies do this in their business activity. Some creative or smart people also do this but certainly not the mass.
To be honest with you, there are tons of excellent reasons why homemakers should trade forex but you will be bored to read each and every one of them. That is why I only listed 9 of them. I think those reasons are enough to open your eyes about a new world that you have never journeyed before and about the excitement and opportunities that awaits you there. Life is about the choices that we make and this is why you must choose wisely.
Making the right choice is what makes people succeed in life. Choosing to enter forex market is a wise decision. However, that alone is not enough to get you to achieve success. You need the other element. As I mentioned before, you will achieve success in forex trading if you learn from someone great at it. Don't waste your time learning from some gurus because in the long term you will lose a lot more time, effort and money. Since you have decided that you want to trade forex you should at least make it worth the effort, right? This link [http://www.forexlibrary.info/69] will take you to the world-renowned forex trader and mentor that has brought many people to achieve success in forex trading. You should always remember that a great mentor will breed great pupils.
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