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.
The practice of accelerating Rizki
Istigfar and Repentance
Allah swt says:
"So I said to them: 'Please forgive your Lord, verily He is Forgiving. Surely He will send heavy rains on you, increase your wealth and your children, provide for you gardens and provide (in it) rivers for you." (Qs. Noah: 10-12)
Explanation
Among the most important reasons for the revelation of sustenance is istighfar (asking for forgiveness) and repentance to Allah, the Most Forgiving and Most Covering (mistakes). For this reason, the discussion of this article is divided into two sections:
a. The essence of istighfar and repentance.
b. The syar'i evidence that istighfar and repentance are the keys to sustenance.
A. The essence of Istighfar and Repentance
Most people think that istighfar and repentance are only enough with words. Some of them say,
اللهَ لَيْهِ
"I seek forgiveness from Allah and repent to Him"
But the sentences above do not make an impression on the heart, nor do they affect the actions of the limbs. Verily, this kind of istighfar and repentance is the work of liars.
The scholars - may Allah reward them as well as possible have explained the nature of istighfar and repentance.
Imam Ar-Raghib Al-Ashfahani explained: "In terms of syara', repentance is leaving sin because of its badness, regretting the sin that has been committed, having a strong desire not to repeat it and trying to do what can be repeated (replaced). If the fourth If it has been fulfilled, it means that the conditions for repentance have been perfect."
Imam An-Nawawi in his own editorial explained: "The scholars said, 'Repenting from every sin is obligatory. If the immorality (sin) is between the servant and Allah, which has nothing to do with human rights, then there are three conditions. , he should stay away from the immorality. Second, he must regret his (immoral) actions. Third, he must wish not to repeat it again. If one of them is lost, then his repentance is invalid.
If repentance is related to humans, then there are four conditions. The three conditions above and fourth, he should free himself (fulfill) that person's rights. If it is in the form of property or the like, then he must return it. If it is a had (punishment) accusation or the like then he must give him the opportunity to repay him or apologize to him. If it is backbiting (backbiting), then he must apologize."
As for istighfar, as explained by Imam Ar-Raghib Al-Ashfahani is "Asking (for forgiveness) with words and deeds. And Allah says:
"Seek forgiveness from your Lord, verily He is Forgiving." (Noah: 10).
This does not mean that they are commanded to ask for forgiveness only by word of mouth, but by word of mouth and deed. Even to the point that it is said, asking forgiveness (istighfar) only verbally without being accompanied by actions is the work of liars.
B. Syar'i Evidence That Istighfar and Repentance Are the Keys to Rizki
Several texts (texts) of the Qur'an and Al-Hadith show that istighfar and repentance are among the causes of sustenance by the grace of Allah. Below are some of the texts referred to:
1. What did Allah say about Noah who said to his people:
"So I said to them, 'Please forgive your Lord', indeed He is Most Forgiving, He will surely send rain on you heavily, and increase your wealth and your children and provide for you gardens and provide (in it) for you. rivers'." (Noah: 10-12).
The verses above explain how to get the following things with istighfar.
a. Allah's forgiveness of his sins. Based on His words: "Verily He is Most Forgiving."
b. Allah sends down heavy rain. Ibn Abbas radhiallaahu anhu said "midraara" is (rain) that falls heavily.
c. Allah will increase wealth and children. In interpreting the verse: Atha 'said: "Surely Allah will increase your wealth and children".
d. Allah will make for him gardens.
e. Allah will make for him rivers. Imam Al-Qurtubi said: "In this verse, also mentioned in (Surah Hud) is a proof that shows that istighfar is a means of asking for sustenance and rain."
Al-Hafizh Ibn Kathir in his Tafsir said: "It means, if you repent to Allah, ask forgiveness from Him and you always obey Him, He will surely increase your sustenance and send down rain and blessings from the sky, bring out blessings for you from the earth, grow plants for you, pouring out milk for you, increasing wealth and children for you, making gardens in which there are various kinds of fruit for you and flowing rivers between them. (for you)."
Qualities That Make Ali Asgar The Best LIC Agent
Everyone needs insurance nowadays. Even if you don't have health or home insurance, a life insurance is a must for all. To help you decide on your final investment plan, you need the help of a great insurance advisor. But it is very difficult to find the perfect insurance advisor for your investment policy among so many advisors. As a client trusting someone with money, you need to research all the advisors you have shortlisted.
Ali Asgar is a Delhi-based LIC agent who has been awarded a gold medal. He is also a receiver of many renowned awards like the MDRT Award, Shatakveer Award, Top 30 Award, and numerous other non-renowned ones. These have helped Ali Asgar and his team to successfully garner the attention of clients. The team of professionals lead by Ali Asgar himself helps you find the LIC policies best suited for a financially stable future for you and your family.
According to Ali Asgar, certain qualities will help you pick the best advisors. Here are the list of qualities which has made Ali Asgar the best LIC agent
1. Client's First Approach
If you are dealing with a good advisor, he or she will always take out time from their busy schedules to sit with you and understand your demands. As a client, you also need to be ready to answer some personal questions that will help them to gather some knowledge about your financial capability and stability. This way, he will understand your needs better and suggest insurance policies to you accordingly.
2. Good Customer Service
Nothing is better than having great customer service. Standing by you during your bad times and helping you make that perfect claim at the dark times is the main goal of a good advisor. If your advisor lacks the proper knowledge of all the formalities that need to be filled at the time of an emergency, never keep him as your advisor. After all, a life insurance policy is made to help you in the tough times, to begin with, and if this criteria is not met, you should look for another advisor.
3. High-Energy Levels
One common trait of all reliable insurance advisors is that they are energetic when they speak and have high motivation. They are very responsible about their work, and all exceptional advisors are fluent with all the details of a particular insurance policy. Only a person who is really committed to this job can excel at being that type of advisor.
4. Thorough Product Knowledge
You need an insurance advisor because most clients lack the knowledge of which plan is best for them and then invest in something else without optimizing the result. As a result, it might incur a loss. But if you get an advisor who is adept in the knowledge of insurance policies, you will be in great hands. A fantastic investor lets you know all of the policy's pros and cons.
5. Honesty
Lastly, you need to be honest about your financial status with your insurance advisor and expect 100% transparency from him. Honesty is the best policy for this job!
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