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.
Rangkuman bencana hari ini, mulia dari gempa, banjir bandang dan puting beliung. (foto diolah dari istimewa)
Innalillahi Wainailaihi Rojiun...
Turut berduka cita sedalam-dalamnya bagi korban bencana hari ini. Semoga korban meninggal diterima amal ibadahnya oleh Allah SWT, dan korban lainnya selalu dibrikan ketabahan.
Berikut rangkuman bencana yang terjadi di berbagai wilayah hari ini!
Bencana memang tak henti-hentinya terjadi di negara kita.
Perbanyak istiqfar, semoga Allah SWT senantiasa menjaga dan melindungi kita.
Berikut rangkuman bencana hari ini, mulai dari gempa, banjir bandang hingga angin puting beliung yang melanda.
5 Kali Gempa Diberbagai Wilayah Indonesia
5 gempabumi mengguncang beberapa wilayah di Indonesia hari ini, Selasa 6 November 2018.Berdasarkan data BMKG, hingga pukul 09.09 WIB, telah terjadi 5 kali gempa di beberapa tempat yang berbeda dengan magnitudo yang berbeda.
1. Gempa pertama terjadi dini hari pada pukul 01:35:53 WIB di Mamasa, Sulawesi Barat.
Gempa bermagnitudo 5,5 tersebut berpusat di 12 km tenggara Mamasa.
Gempa dirasakan di IV Mamasa, III-IV Mamuju, III-IV Toraja, III-IV Polewali, III-IV Majene, dan III Palopo.
2. Gempa kedua juga terjadi pada dini hari pukul 01:57:01 WIB di Badung.
Gempa bermagnitudo 3,6 tersebut berpusat di 8 km timur laut Badung.
Gempa dirasakan di wilayah Denpasar dengan skala II.
3. Gempa ketiga kembali terjadi di Mamasa pada pukul 07:25:25 WIB.
Gempa dirasakan di wilayah Mamasa dengan skala II.
4. Gempa keempat terjadi pada pukul 08:00:14 WIB di Lombok Timur.
Gempa dirasakan di beberapa daerah dengan skala yang berbeda, yaitu Lombok Utara (V), Lombok Timur (V), Lombok Barat (IV), Mataram (IV), Lombok Tengah (III).
5. Gempa kelima terjadi pada pukul 09:09:51 WIB di Sangihe, Sulawesi Utara.
Gempa dirasakan di Sangihe dengan skala MMI III-IV.
Meski terjadi 5 kali gempa, tidak dilaporkan adanya korban dalam musibah ini.
Banjir Bandang di Tasikmalaya, 4 Orang Tewas dan 2 Hilang
Jembatan Pasanggrahan, Kecamatan Cipatujah, Kabupaten Tasikmalaya, putus total terbawa arus sungai (foto: kompas.com)
Dilansir dari detik.com, sedikitnya 4 orang tewas dan 2 hilang akibat banjir bandang di Kabupaten Tasikmalaya, Jawa Barat, Selasa (6/11/2018). Selain itu, puluhan rumah mengalami kerusakan akibat diterjang banjir
Berdasarkan data dari Basarnas Jabar, warga Kecamatan Culamega yang meninggal yaitu Elsa (10) dan Mardin (60), sedangkan Aning (50) masih dalam pencarian.
Di Kecamatan Cipatujah tercatat dua orang tanpa identitas meninggal akibat hanyut terseret banjir Sungai Ciandum. Di Kecamatan Cikalong, seorang bocah, Fajar Fian (10), yang terbawa arus Sungai Ciloje masih dalam pencarian.
"Empat orang meninggal dunia, dua orang dalam pencarian," kata Jubir Basarnas Jabar Joshua Banjarnahor via pesan singkat.
Menurut Joshua, sejumlah kawasan terdampak bencana tersebut.
Banjir Bandang Terjang Tiga Kecamatan di Tasikmalaya (foto: istimewa/detikcom)
Banjir di Desa Bantarkalong, Kecamatan Cipatujah, mengakibatkan 3 rumah rusak dan 17 rumah terendam.
Di Kampung Jajaway, Pasanggrahan dan Singkur, Desa Cipatujah, tercatat 15 rumah rusak dan 35 rumah terendam.
Di Dusun Ciginting, Desa Ciandum, Kecamatan Cipatujah, puluhan rumah terendam.
Sementara itu, Adjat Sudrajat, ketua RT di Desa Bantarkalong, Kecamatan Cipatujah, mengatakan 20 rumah di wilayahnya hancur. Banjir menerjang kampung tersebut sekitar pukul 02.00 WIB dini hari tadi.
Puting Beliung Hantam Rumah Warga di Pantai Batam
Seperti ditayangkan Liputan6 SCTV, Selasa (6/11/2018), selain berputar-putar di tengah laut, pusaran angin kencang juga sempat menghampiri permukiman. Akibatnya, dua rumah panggung roboh dan tenggelam ke laut, sedangkan 28 rumah lainnya rusak berat.
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