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.
Susulan viral kisah empat sekawan 'menjamu selera' di RNR yang telah ditutup bertahun-tahun, ada seorang pekerja swasta yang berkongsi pengalaman yang hampir sama namun kejadian berlaku di daerah berhampiran.
SATU hari itu (kejadian antara tahun 2014-2015), saya dan seorang lagi rakan sekerja bertugas di daerah Lenggong, Perak. Bila simpulan tugas, kami pun pulang ke Ipoh kira-kira jam tiga atau empat petang.
Dalam perjalanan pulang, kami sanggup panggilan yang menyampaikan ada breakdown di daerah itu, antara pembekal (feeder) Chenderoh ke Temelong. Rondaan mencari kerosakan itu mengambil masa yang agak usang disebabkan jarak pembekal itu agak jauh.
Masa breakdown itu seingat saya, team yang lain ada kiprah di tempat lain. Cuma kami saja yang available pada waktu itu. Jadi, juruteknik pun meminta kami tolong dan ia pun dalam perjalanan ke tapak juga. Dan kami pun buat kerja menyerupai biasa, mencari kerosakan.
Juruteknik hingga di lokasi, waktu itu pun dah agak lewat petang. Jadi, lokasi yang kami kena cari sebelum hari semakin gelap, hanya ada dua saja tempat lagi. Dua tempat itu jaraknya jauh antara satu sama lain.
Makara juruteknik suruh kami pergi ke lokasi di Temelong, Lenggong dan ia akan tinjau di lokasi Tasik Raban. Di RNR Tasik Raban itu, di belakangnya ada tasik. Di sebelah tasik itu ada sebuah resort.
Sepanjang saya bertugas di Perak, setahu saya dan yang lain, tak pernah tengok resort itu beroperasi. Adakalanya kelihatan terbiar, ada masa tertentu ada orang akan tiba membersihkan daerah itu. Mungkin pekerja atau penjaga tempat itu agaknya.
Tak beroperasi tetapi masih dalam keadaan terjaga. Tiada barang-barang menyerupai besi tingkap hilang dirembat mat gian. Setiap rumah di resort itu masih lengkap.
Jarak resort itu dari jalan utama lebih kurang 1.5 kilometer. Resort terlindung oleh pokok sawit.
Jadi, juruteknik itu tadi masuk ke lokasi seorang diri. Kereta Perodua Kelisanya tidak sanggup masuk kerana keadaan jalan yang tidak mengizinkan. Jalan estet, faham-fahamlah macam mana keadaan jalannya. Jadi, ia masuk jalan kaki.
Sampai di lokasi, hari semakin gelap. Selesai menciptakan tinjauan, ia pun keluar dari situ. Semasa dalam perjalanan keluar, azan sudah kedengaran di halwa indera pendengaran tetapi sayup-sayup.
Masa itulah ada seorang pakcik renta menegur dia. Pakcik itu tanya ia buat apa dan kata nak temankan juruteknik itu keluar dari situ. Dia pun bertanya juga, pakcik itu nak pergi ke mana. Katanya nak pergi ke surau.
Selepas hingga saja ke keretanya yang diletakkan di tepi kebun getah bersebelahan dengan kebun sawit itu, ia tengok orang renta itu dah tak ada. Dia pun keluar dari situ.
Bila kami bertemu semula di lokasi yang ditetapkan, ia menceritakan semula kejadian itu kepada kami. Setahu kami di daerah itu sememangnya tiada penduduk.
Sehari selepas kejadian itu, juruteknik itu demam. Kerja-kerja baikpulih breakdown itu kami sambung semula pada keesokan harinya.
Peristiwa sebelum ini pula berlaku pada tahun 2010. Di situ ada satu tower TNB yang menghubungkan pembekal dari Chenderoh ke Tasik Raban.
Kawasan itu kan tasik, ada pulau-pulau kecil berhampiran. Di pulau-pulau itu lah terletaknya menara TNB. Nak pergi ke menara itu kena naik bot.
Tugas saya masa itu, memunggahkan barang naik ke darat dan hantar kepada team yang nak buat kerja. Saya seorang diri buat kerja itu.
Masa nak ambil barang, saya ternampak ada kocakkan air yang banyak dan sangat berpengaruh di bot. Tetapi kejadian itu berlaku sekajap saja. Kocakkan itu menyerupai ikan sedang menangkap sesuatu di bawah bot.
Makara saya bertanya pada orang lama, orang-orang tua. Kalau keadaan menyerupai itu mustahil disebabkan oleh ikan. Mungkin 'dia' nak beritahu bahawa tempat itu ialah lokasi tempat tinggalnya.
Selepas itu, tak ada pula kejadian yang pelik-pelik berlaku. Kerja kami pun simpulan tanpa sebarang halangan.
Kawan saya pernah beritahu yang kontraktor pun pernah mengalami situasi yang sama saat bekerja di situ, sebelum saya. Lokasi RNR Tasik Raban dengan pulau dan resort ini dekat-dekat saja. Makara sesiapa yang pernah mengalaminya akan percaya.
Lagi satu, kita pun tahu bahawa bukan kita saja yang hidup di atas muka bumi ini. Makara bila kita bekerja atau berada di lokasi menyerupai itu, perlu sentiasa beringat.
Sumber: Zam DG via The Reporter
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