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.
The 2018 FIFA World Cup is the 21st FIFA World Cup, a quadrennial international football tournament contested by the men's national teams of the member associations of FIFA. It is currently ongoing in Russia starting from 14 June and will end with the final match on 15 July 2018.[1] Russia was awarded the hosting rights on 2 December 2010.
This is the first World Cup to be held in Eastern Europe,[2] and the eleventh time that it has been held in Europe. For the first time the tournament takes place on two continents – Europe and Asia.[3] All but one of the stadium venues are in European Russia in order to keep travel time manageable. At an estimated cost of over $14.2 billion, it is the most expensive World Cup ever.[4] This is also the first World Cup where video assistant referees (VARs) have been utilised.[5]
The final tournament involves 32 national teams, which include 31 teams determined through qualifying competitions and the automatically qualified host team. Of the 32 teams, 20 made back-to-back appearances following the last tournament in 2014, including defending champions Germany, while both Iceland and Panama made their first appearances at a FIFA World Cup. A total of 64 matches will be played in 12 venues located in 11 cities. The final will take place on 15 July at the Luzhniki Stadium in Moscow.[6]
The bidding procedure to host the 2018 and 2022 FIFA World Cup tournaments began in January 2009, and national associations had until 2 February 2009 to register their interest.[9] Initially, nine countries placed bids for the 2018 FIFA World Cup, but Mexico later withdrew from proceedings,[10] and Indonesia's bid was rejected by FIFA in February 2010 after the Indonesian government failed to submit a letter to support the bid.[11] During the bidding process, the three remaining non-UEFA nations (Australia, Japan, and the United States) gradually withdrew from the 2018 bids, and the UEFA nations were thus ruled out of the 2022 bid. As such, there were eventually four bids for the 2018 FIFA World Cup, two of which were joint bids: England, Russia, Netherlands/Belgium, and Portugal/Spain.
The 22-member FIFA Executive Committee convened in Zürich on 2 December 2010 to vote to select the hosts of both tournaments.[12] Russia won the right to be the 2018 host in the second round of voting. The Portugal/Spain bid came second, and that from Belgium/Netherlands third. England, which was bidding to host its second tournament, was eliminated in the first round.[13]
The voting results were as follows:[14]
The English Football Association and others raised concerns of bribery on the part of the Russian team and corruption from FIFA members. They claimed that four members of the executive committee had requested bribes to vote for England, and Sepp Blatter had said that it had already been arranged before the vote that Russia would win.[15] The 2014 Garcia Report, an internal investigation led by Michael J. Garcia, was withheld from public release by Hans-Joachim Eckert, FIFA's head of adjudication on ethical matters. Eckert instead released a shorter revised summary, and his (and therefore FIFA's) reluctance to publish the full report caused Garcia to resign in protest.[16] Because of the controversy, the FA refused to accept Eckert's absolving of Russia from blame, with Greg Dyke calling for a re-examination of the affair and David Bernstein calling for a boycott of the World Cup.[17][18]
Main article: 2018 FIFA World Cup qualification
For the first time in the history of the FIFA World Cup, all eligible nations – the 209 FIFA member associations minus automatically qualified hosts Russia – applied to enter the qualifying process.[19] Zimbabwe and Indonesia were later disqualified before playing their first matches,[20][21] while Gibraltar and Kosovo, who joined FIFA on 13 May 2016 after the qualifying draw but before European qualifying had begun, also entered the competition.[22] Places in the tournament were allocated to continental confederations, with the allocation unchanged from the 2014 World Cup.[23][24] The first qualification game, between Timor-Leste and Mongolia, began in Dili on 12 March 2015 as part of the AFC's qualification,[25] and the main qualifying draw took place at the Konstantinovsky Palace in Strelna, Saint Petersburg, on 25 July 2015 at 18:00 local time (UTC+3).[26][27][28][1]
Of the 32 nations qualified to play at the 2018 FIFA World Cup, 20 countries competed at the previous tournament in 2014. Both Iceland and Panama qualified for the first time, with the former becoming the smallest country in terms of population to reach the World Cup.[29] Other teams returning after absences of at least three tournaments include: Egypt, returning to the finals after their last appearance in 1990; Morocco, who last competed in 1998; Peru, returning after 1982; and Senegal, competing for the second time after reaching the quarter-finals in 2002. It is the first time three Nordic countries (Denmark, Iceland and Sweden) and four Arab nations (Egypt, Morocco, Saudi Arabia and Tunisia) have qualified for the World Cup.[30]
Notable countries that failed to qualify include four-time champions Italy (for the first time since 1958) and three-time runners-up the Netherlands (for the first time since 2002), and four reigning continental champions: 2017 Africa Cup of Nations winners Cameroon, two-time Copa América champions and 2017 Confederations Cup runners-up Chile, 2016 OFC Nations Cup winners New Zealand, and 2017 CONCACAF Gold Cup champions United States (for the first time since 1986). The other notable qualifying streaks broken were for Ghana and Ivory Coast, who had both made the previous three tournaments.[31]
The defending champions, Germany, were knocked out in the group stage. It was the first time since 1938 that a German side did not advance from the first stage of a World Cup tournament,[7] and the fourth time in the last five World Cups that the title holders had been eliminated in the opening stage of the tournament after France in 2002, Italy in 2010, and Spain in 2014.[8]
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