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.
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Why Are Online Undergraduate Degrees So Popular
Online undergraduate degrees or online bachelor degrees are very popular among students at present, because they provide online learners the opportunity to earn a bachelor's degree from any of the thousands of online colleges and universities from the comfort of their own home. Another good thing about online undergraduate degrees is that they help students give their careers a head start and they can enhance their career prospect after the acquisition of their degree..
Advantages of Online Undergraduate Degrees
According to a recent study, students holding an undergraduate degree make 25 percent more as compared to students who do not possess an undergraduate degree. The basic factor here is that online undergraduate degrees are extremely useful for students who do not have time to attend regular classes because of personal and/or professional commitments. With online undergraduate and bachelor degree programs, you do not need to take four years out of your life to live in a hostel and attend regular classes in a university. Thanks to eLearning programs, you can work part-time or full time, stay with your family and friends all the time and attend classes over the Internet, that too when you are free.
Influence of the Academic Environment
There are two types of academic environments, the traditional classroom and online environment. Most of my experience has been teaching adult students and faculty as students in non-traditional online classes. This is an important distinction to make as I have not been assigned the title of professor and I have not been assigned to teach in a traditional classroom, except for a few community college classes that were taught as an adjunct. Instead of preparing for weekly lectures, I have worked in an industry that requires classroom engagement and interactions during weekdays, weeknights, and on the weekends as well. In other words, there may not be stated hours; however, there is an expectation the students will be a top priority regardless of the day of week.
Also consider that in this environment I do not see my students, unless they have uploaded a photo or I hold a live seminar. I have no idea what most of my students often look like and that did take some getting used to as I came to the higher education field from a corporate training field, which means I have always interacted one-on-one with students. In a virtual environment, I am in constant communication with students as they need assistance or I complete my required facilitation tasks. This means I have learned how to take static, written communication and use it in a manner that can still convey a sense of warmth through the choice of words and tone used.
Consider the Adult Student's Perspective
Now consider what the adult student might experience or feel when they enter the classroom. Based upon my experience in the non-traditional academic field, most students are working adults, whether they were my undergraduate or graduate students. This means their school work may not always be their only demand each week as they may have other responsibilities that includes a career and a family. These students usually seek out a degree for specific needs, often related to their career. When they interact with others in the classroom they are not always open-minded to begin with as they have their own beliefs, opinions, established patterns of thought, and habitual ways of thinking. They see the world in a particular manner and point of view.
Students also hold expectations, whether they express those expectations or not to their instructors. They expect the class, and others, to conform to what they want or need, confirm what they already believe, meet their personal and professional needs, and operate according to how they have experienced the world. Sometimes those expectations are met, and other times there is a clash of ideals, beliefs, and opinions. When expectations are not met, there can be a disconnect and that is when the instructor's disposition and assistance matters most. Regardless of what students expect, they are interacting with an environment that is going to make demands of them, present ideas and information that may conflict with what they know or think or believe, and it is their instructor who is going to influence them and matter the most.
What is Heart and Soul for Teaching?
If the instructor matters so much for students, can an instructor simply adopt a caring and supportive attitude to help them engage in the learning process? From my experience, a caring instructor is more effective than someone who demands strict compliance and cannot empathize with students. What I am referring to though goes beyond caring and I refer to it as the heart and soul of teaching. For me, it has occurred as a product of time, along with a process of trial and error. When you put your heart and soul into a career, you stick with it during the times when you feel alive and are fully engaged in it, along with the times when it challenges you and teaches you new life lessons. When you put your heart and soul into something, and then you feel you have lost it, the joy seems to go out of your job and then it is time for a change of some kind.
Teaching has always been second nature for me. It is one of the first memories I had as a child, even before I knew what I was really doing, and throughout my career I found myself in a classroom no matter what my job titles might have been at the time. It was a natural progression for me to move into corporate training and then into higher education. Working as an online adjunct for many years did challenge the heart and soul I put into my career and I reached a point where the stressful conditions overcame me and I allowed it to create a negative mindset. I finally had to stop the excuses, unplug from technology, and take a sabbatical. I used that time to go back and remember who I am, why I love my career, and I came back renewed and reinvigorated. It was a matter of changing my focus from the conditions to the control I have over my thoughts.
For anyone who cares about their career, and believes they have put their heart and soul into their job or work, your students will notice it. They will be influenced by it, especially during the times when they feel challenged by something they have read, something they have heard, or something they are required to do. Your ability to care and empathize, while being a coach, mentor, and teacher, will serve you and them well. You are going to also feel challenged at times by circumstances, situations, conditions, and expectations. If you can stay focused on your ability to empower your students, and how much they depend upon your consistent attitude and disposition, perhaps you can maintain your balance during the challenging moments that do eventually subside..Hide this content.
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