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.
5 This can affect your life in the next 5 years
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What you do today can affect you in the coming years. Because everything that starts with patience will change your destiny and all aspects of your life in the future.
Therefore, you need to know what things can affect your life in the next five years. After knowing this, it is hoped that you can start turning your bad habits into good habits or activities at this time.
Here are 5 things that can affect your life in the next 5 years. Read carefully this article, yes!
1. The book you read
Books are a window to the world. This phrase really becomes a reality after you can absorb the contents of the book you are reading. Because when we are diligent in reading and absorbing what the book contains, it can affect your mindset.
Therefore, find a book that can be useful to change your life for the better than before.
2. The person you spent a lot of time
People who spend time with you can also often affect the mindset and principles in your life. Usually you also always meet people or friends who understand how you think. Therefore, find friends who are always oriented to positive things!
3. SIMPLE DAY HABITS
Everything you do has a big impact on your future life. For example, positive habits always wake up in the morning so that all work can be completed on time.
4. The food you eat
At present there are many foods that can cause disease in the future. Therefore, you must be smart in maintaining your food and intake, so that your health is maintained for the next five years and so on.
5. Conversation is done
Just like people who spend time with you. The conversation that you have with people like what can also affect your life in the future.
If you are only busy gossiping and taking care of other people's lives, your life will be in vain, especially for the future. On the other hand, if what you are talking about is positive things like advising a friend who is in the wrong direction, it will be a positive thing for the future.
Those are 5 things that can affect your life in the next five years. Therefore, be careful in everything, so that the next five years your life can be more positive than before.
Usability, Accessibility, and Configurability in a SaaS-Based Portal Package
Insurers who resist change and continue to depend on their aged Policy Administration Systems are missing out on the amazing advantages offered to them by the new age SaaS-based PAS which offer amazing advantages and enhanced usability, accessibility and configurability. This article addresses these aspects and lists the advantages offered by a PAS to enhance the competitive edge of an insurer. All PAS systems do not offer such advantages and some actually fail to replace the legacy system, wasting the time and resources of an insurer and setting them back. Hence, it is important for an insurer to be well-informed and aware of the capabilities of a PAS and the benefits offered by adopting it.
Insurers who stay dedicated to their timeworn Policy Administration Systems fail to realize that their devotion is affecting their competitiveness in the market by slowing their services down and restricting their ability to introduce new products to the market.
One way to reverse this slow and steady deterioration is to adopt a Saas-based portal which will be your new Policy Administration System. Enjoy its support across the value chain, from product development to the payment of benefits and administer the insurance products with unsurpassed agility. This is possible with a well-designed SaaS-based product because of its usability, accessibility and configurability. Let's explore each of these advantages in detail, so that you will have clarity on creating that business case to suggest its immediate adoption:
Usability:
1. The program offers framework modules, which can be licensed independently or together, offering unlimited flexibility and cost savings to a discerning user.
2. Offers flexibility in customization and deployment, and supports multiple clients, currencies and languages.
3. Its modules are extremely intuitive to use as it requires no coding.
4. Allows you to administer all types of insurance products, like P&C, Auto, Life, Health, Specialty, Warranty, Pension, Annuity, etc. without having to code anything; saving significantly on time and costs.
Accessibility:
1. Available and hosted as a Web application or can be hosted on the cloud.
2. The Agent portal is integrated into the Policy Administration System to support Agents and Direct customers.
3. Allows data upload and import of Excel files
4. Makes integration with third party and payment processes easy and flexible.
5. No Programming is needed for attaching forms and printing data on forms.
6. Generates policy data as tokens and prints the real-time policy data on forms.
7. Easily uploads rule-based forms.
8. Maintains a repository of Base forms, Coverage forms, ACORD forms, exclusion forms for various product lines and maintains them separately in different file subnets for ease of access.
9. Can integrate with multiple policy processing systems primarily through APIs or XMLs.
10. Organizes forms according to the form type.
11. Allows configuration of forms for the printing of policy data as per the existing (customer's) templates.
12. Generates placeholders or tokens to be placed on the forms for policy data at the time of form generation/printing.
13. Attaches forms based on the user-defined sequence.
Configurability:
1. It is a self-service product, which uses role-based configuration, and standard workflows which can be configured by users to their unique business needs.
2. Issues and stores all policy data and documentation as per the product model and enables changes and modification to be completed in a matter of hours, instead of days.
3. Product versioning allows a single product to be maintained using state-specific, agency-specific and customer-specific screens, with the workflows being defined by user's role.
4. Business users can easily configure changes, without intervention from DB administrators.
5. Users can build new products from scratch easily, and without much effort or loss of time.
6. Users can define Carriers, Agents, Brokers, Distributors and their business information along with mapping their producers and products.
7. Supports all policy transactions from Quick Quote, Policy Submission and Bind, Account creation, Quotes, Policy Administration, Endorsements, Renewals, Cancellations, Reinstatements and Rewrites.
8. Standard Policy Statuses and next Actions allow customers to configure the workflows as per their need and bypass the policy statuses which do not match their business need. Automated out-of-sequence endorsement comes as an additional feature.
9. Its rating module allows the maintenance of multiple rating tables without duplication, delivering faster response and improved performance due to the execution of rule-based rating steps, increasing the hit rate and ensuring better performance.,
10. Integration with inbuilt underwriting module, rating module and forms module delivers fast responses from each supporting module and complete the quote/policy transaction in no time.
11. Its underwriting module integrates with multiple systems, allowing the business rules, regulatory rules, and user-specific rules to be configured in a single location and makes its maintenance easy. It supports searching of existing rules, decision tables, and scorecards and defines assignment rules and sets due dates.
12. Its reporting module allows users to generate the reports manually and also to trigger reports by defining the frequency of reports automatically. It also offers many standard reports and enables users to configure customized reports.
13. Offers role-driven dashboards for Carriers, Agencies, Brokers and other Distributors.
14. Provides flexibility to integrate with any external system as well.
15. Supports both manual and automated policy processing.
Visualizing the benefits in time, money and resources from adopting such a system must be really easy after this detailed explanation. Talk to us to set up a demonstration of these capabilities and benefits to understand how they can help to improve your business processes and flexibility. That would help you to make an informed choice and avoid paying an exorbitant price for an ineffective product meant to replace your legacy system, but offers no return on investment and may even affect your business continuity.
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