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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.

What You Should Know About Comprehensive Motor Trade Insurance Businesses in the auto industry can take out specialist insurance policies that have been designed specifically for that sector. A motor trade insurance policy will cover the businesses premises and employees on the same policy that covers the vehicles. A combined policy can be negotiated to incorporate cover for public and employee liability, material damage, plus cover for buildings and stock. A standard auto coverage policy would not be sufficient for businesses in the auto industry, although it is possible for businesses to use them. The standard auto coverage policy will only cover vehicles if an accident or claim happens on a public road, which is obviously a big risk to take. The reason being that most vehicles used, repaired or sold in the auto industry are in garages or on forecourts or other private land. Motor trade insurance policies are not cheap, and they certainly cost more than a standard policy. It is possible to keep costs down though. One way to reduce your premiums would be to look at and review what exactly your policy covers you for. In lots of cases, businesses end up paying for cover they do not actually need. Therefore, by asking an insurance broker to review your risks and compare them against your policy, you can very often reduce your monthly premiums. This next tip is so simple that it is often missed by policy holders. A quick and easy way of checking to see if you can get a better premium is to ask you current broker if they can find one for you. Many providers will not take the time to search for a better policy for you unless you actively request it from them. If you are uncomfortable with your current premium, speak with your current broker about possible actions or modifications you can make with your policy. A third way to keep your motor trade insurance policy premiums as low as possible is to change your insurance provider. Whilst staying loyal to one insurance company is the easiest thing to do, can you honestly say that it is the best thing to do? There is a high chance that you will be able to get a better deal if you contact a broker or insurance company who specialize in motor trade insurance policies. Why? Because specialist motor trade insurance brokers will have specialist policies and rates. These are generally not available from all-in-one insurance providers. If you are an employee or owner of a business in the auto industry then make sure you take note of the advice given as you could end up with much cheaper premiums. A standard auto insurance policy will only turn out to be a mistake in the long run.

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