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.
3 Reasons for Sleeping separately
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Even so, it turns out that the bed that separates is not always bad, you know. Here will be reviewed several advantages when the husband and wife sleep separately. Let's see.
1. Minimize quarrels
The first advantage that can be obtained from a husband who sleeps separately is to minimize quarrels. It is undeniable, having to unite two heads is indeed difficult. Especially if you and your partner still have high ego.
By sleeping separately, you will have time alone that can make you each think more calmly, so that the fight can be pressed. Even so, when accompanied by efforts to improve themselves, yes. However, sleeping together for husband and wife will be better than sleeping separately, because it can increase intimacy.
2. Sleep more soundly
There are some people who are very sensitive to sound, so they will not be able to sleep while sleeping in noise, for example a snoring couple. Well, sleeping separately can be a solution so you can sleep well.
Although it seems trivial and made up, in reality the quality of sleep affects physical and mental conditions, you know. Lack of sleep or poor sleep quality can make a person vulnerable to disease because they do not get adequate rest, and are easily angry. This condition can make a household relationship messy.
3. More able to appreciate relationships
It often happens that something is only valued when it has disappeared or does not exist anymore. Well, sleep separately for a while can be the right way so you can appreciate the relationship, you know.
For years used to sleep with your partner can make you realize that so far there are many things from him that makes you happy. Even sleeping separately makes you miss with him. This longing is important to be maintained so that the marriage relationship can survive, you know.
From the description above, I am now aware, yes, that things that are considered bad are not always entirely negative. Including sleep separately with a partner. Under certain conditions, it turns out that sleeping separately also has advantages.
How Modern Insurance Policy Systems Are Reinforcing the Insurance Industry
It's time insurers threw off the shackles of their legacy systems, which add to the oppression of market pressures by hampering the effectiveness of their operations. But to do so, they need to recognize the improved functionality and additional value a successful PAS transformation could bring to their businesses first. Truth is, not all are willing to realize the value from a flexible policy administration system (PAS) with its different modules.
There's no doubt that the modern PAS is transforming the insurance industry and making it possible for insurers to regain lost ground through impacting its people, process and technology; while offering unmatched levels of availability, reliability and security. Among other things, insurers staying loyal to their legacy system must face some hard truths:
1. Gap between the Haves and Have-Nots: Insurers depend heavily on their legacy systems to support their core applications. They support day-to-day tasks like the issuing and servicing of policies, processing of claims, as well as underwriting and billing processes. This makes insurers reluctant to tamper with their legacy systems. But this highly regulated and document intensive industry is being seriously hampered by the limitations laid down by their legacy systems. Insurers who remain committed to their inefficient but functioning legacy systems are manually processing piles of papers, and re-keying data between systems creating tremendous bottlenecks and time lags in their performance. They also generate inaccuracies which are bound to cause further bottlenecks at a later date. On the other hand, by adopting a modern PAS, insurers gain tremendous agility in processes and can easily modify old products and rollout new ones, with reduced time-to-market. As more insurers turn to them, half the industry is transforming its processes, its way of functioning and leaving the other half woefully behind, on customer service, efficiency and competitiveness.
2. Rules digital transformation out: Legacy systems operate on languages and system architectures which were developed in the '70s and '80s. Their age makes them completely unsuited to support digital transformation, in these times when every industry is porting its data to the cloud and employing big data applications to derive strategic and actionable business insights. Insurers who understand this are adopting a modern PAS to quickly initiate the changes needed to embrace the digital age.
3. Incompetence: There's no doubt that insurers without a modern PAS lose out on service enablement, technological relevance and product speed-to-market when compared to the insurers who adopted one. Some of them may have already adopted other systems which helped them to extend the legacy system, requiring a highly knowledgeable team to undertake the required customization and core system modernization. If the insurer rejects the modernization wishing to mitigate the risk of a failed implementation and data migration, it may result inevitably in incompetence and a regrettable loss of market share.
4. Not Really Risk Mitigation: Being risk averse and avoiding disruption comes naturally to the insurance industry, but cannot be so comprehensive that the insurer avoids the adoption of a new technology fearing the risks. As the world around them is porting its operations to the cloud, they must accept a modicum of disruption in anticipation of achieving their vision for the technology they need and the resulting benefits from the digital transformation.
5. Implementation concerns: The importance of replacing outdated technologies and antiquated development methodologies needs to be recognized by businesses. They must also recognize and modify any other structural constraints in the processes. Fear of implementation failure cannot come in the way of an assured opportunity to gain competitive advantage by transforming one's legacy system.
While all these concerns are holding some insurers back, others stay market-focused and are driven by business needs to undertake core system modernization. Their businesses flourish, while others flounder, as such upgrades improve their responsiveness. They close the gaps in their product and distribution strategy and provide superior customer service to retain existing customers and reach new markets. Their improved services are reinforcing the insurance industry itself, making it stronger and more attractive to its customers.
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