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.
ðŸ˜Demi Allah... gres kali ini saya melihat agresi demo hingga menangis. Saya tidak berpengaruh menahan rasa haru, bahagia, bangga, gembira, dan sedikit amarah semua berbaur menjadi satu.
Awalnya saya ke Jakarta untuk wawancara narasumber riset saya. Tapi sebuah penerbit juga mengusulkan saya menulis buku ihwal agresi 411 dan 212, lebih kurang membahas 'Media Soslial dan Aksi Damai 4/212'. Karena kebetulan itu, saya bergerak hadir ke Monas sentra lokasi agresi 212. Sambil menangis tersedu melihat agresi 212 saya telpon isteri untuk mengabarkan situasinya. Luar biasa, persatuan, kesatuan, kekompakan, persaudaraan, silaturrahmi umat Islam demikian nyata.
Pukul 07.00 WIB saya bergerak dari Cikini menuju Monas, ojeg yang saya tumpangi harus muter mencari jalan tikus. Semua jalan dan lorong mengarak ke Monas macet total. Perjalanan saya terhenti di Kwitang, dari Kwitang saya jalan kaki menuju Monas, hingga ke perempatan Sarinah. Saat hingga di Tugu Tani, dada saya mulai bergetar tak karuan. Seperti orang takjub tidak terkira. Umat Islam yang hadir saling mengingatkan untuk hati-hati, jangan injak taman, buang sampah pada tempatnya, segala jenis makanan sepanjang jalan gratis. Tidak ada caci maki ibarat yang terjadi di sosial media. Saat itu sudah mulai perasaan berkecamuk, tapi masih mampu saya tahan.
Tepat di depan Kedubes AS, dada saya meledak menangis haru ketika seorang kakek renta menyampaikan saya buah Salak, gratis. Saya tanya, "Ini salak dari mana Kek?" "Saya beli sendiri dari tabungan", jawabnya. Saya haya mampu termangu dan terpaku menatapnya.
Di sebelahnya, ada juga seorang Ibu bau tanah juga menyampaikan makanan gratis yang dibungkus. Sepertinya mie atau nasi uduk. Bayangkan, Ibu itu pasti bangkit lebih pagi untuk memasak makanan itu. Saya tanya, "Ini makanan Ibu masak sendiri?" "Iya", jawabnya. "Saya biasa jualan sarapan di Matraman, hari ini libur. Masakan saya gratis untuk akseptor aksi". Masya Allah... Saya eksklusif lemes, mes, messss... Saya senakin lemes karena obrolan kami disertai bunyi sayup orang berorasi dan gema bunyi takbir.
Dan., sepanjang jalan yang saya lalui, saya menemukan semua keajaiban Aksi Super Damai 212. Pijat gratis, obat gratis, klinik gratis, makan dan minum gratis. Perasaan lain yang bikin saya merinding, tidak ada jarak dan batas antara umat Islam yang selama ini kena stigma sosial buatan mereka para nyinyiers dan haters sebagai 'Islam Jenggot', 'Islam Celana Komprang', 'Islam Kening Hitam', 'Islam Cadar', 'Islam Berjubah' dan stigma negatif lainnya. Semuanya bersatu dalam: Satu Islam, Satu Indonesia, dan Satu Manusia!
Sepanjang perjalanan, saya mendengar antara akseptor bicara menggunakan bahasa tempat Sunda, Jawa, Madura, Bugis, Aceh, Minang bahkan ada juga yang berbahasa Tionghoa. Mungkin mereka saudara kita dari kalangan non muslim.
Melihat itu semua, “saya menyerah’, lagi-lagi saya menyerah!
Saya tidak kuasa menahan gejolak rasa yang bergemuruh dalam dada. Saya putuskan menepi, mencari kafe sekitar lokasi. Kebetelun saya punya sahabat baik yang pengelola "Sere Manis Resto dan Cafe". Lokasinya strategis, pas di pojok Jl. Sabang dan Jl. Kebon Sirih. Tidak jauh dari bunderan BI dan Monas. Saya putuskan menyendiri masuk cafe itu untuk memesan secangkir kopi dan menyaksikan semua peristiwa dari layar TV dan Gadget yang terkadang diacak timbul karam kekuatan sinyalnya.
Tapi di Resto/Cafe 'Sere Manis' itu juga saya temui umat Islam berkumpul membludak. Rupanya mereka antri mau mengambil wudhu yang disiapkan pengelola restoran. Tidak cuma itu, saya menemukan ketakjuban lain. Di dalam resto/cafe saya bertemu sahabat baru, seorang Scooter yang tinggal di tempat Cinere. Dia dan teman-temannya memilih berjalan kaki dari Cinere ke Monas (sekitar 40 KM) untuk mencicipi kebahagiaan para santri yang berjalan dari Ciamis ke Jakarta.
Masya Allah.... Saya semakin sangat kecil rasanya dibanding mereka semua. Ini dongeng dan kesaksian saya ihwal Aksi Super Damai 212. Mungkin ada ratusan atau ribuan orang ibarat saya yang tidak terhitung atau tidak masuk dalam gambar agresi yang beredar luas. Kami orang yang lemah, tidak sekuat saudara kami yang berjalan kaki di Ciamis atau Cinere.
Maka, janganlah lagi menghina agresi ini. Apalagi bila hinaan itu keluar dari kepala seorang muslim terdidik. Tidak menjadi mulia dan terhormat Anda menghina agresi ini. Terbuat dari apa otak dan hati Anda hingga sangat ringan menghina agresi ini? Atau, apakah karena Anda mendapat beasiswa atau dana riset dari pihak tertentu kemudian dengan mudah menghina agresi ini?
Jika tidak setuju, cukuplah diam, kritik yang baik, atau curhatlah ke isteri Anda berdua. Jangan menyebar kebencian di ruang publik. Walau menyebar kebencian, saya tau kalian tidak mungkin dilaporkan umat Islam. Sebab umat Islam tau persis kemana hukum berpihak ketika ini.
Terlepas ada kebencian dari para ‘nyinyiers’, saya bahagia mampu tidak sengaja ikut agresi hening 212 ini. Setidaknya saya mampu menularkan dongeng dan semangat ini pada anak cucu saya sambil berkata: "Nak, ketika kau bertanya ada dimana posisi Bapak ketika agresi hening 2 Desember 2016? Bapak cuma buih dalam gelombang lautan umat Islam ketika itu. Walau cuma buih, Bapak terang ada pada posisi membela keimanan, keyakinan dan kesucian agama Islam. Jangan ragu dan takut untuk berpihak pada kebenaran yang kau yakini benar. Beriman itu harus dengan ilmu. Orang arif itu harus lebih berani. Dan mereka yang hadir atau mendukung agresi 212 ialah mereka yang beriman, arif dan berani. Maka jadilah kau mukmin yang arif dan pemberani anakku".
DR Iswandi Syahputra
[Dosen IAIN Sunan Kalijaga, Yogyakarta]
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