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.
For divers and fans of snorkeling activities, Raja Ampat is heaven. The beauty of the underwater world is extraordinary even the whole world recognizes it. It is not wrong if many people want to be a direct witness to the beauty, although transportation access to be able to enjoy tourist destinations in Raja Ampat is still very limited, and the price is quite draining.
However, if you are one of the travelers who are determined, tighten their belts and are ready to spend savings to be able to enjoy the charm of Raja Ampat, then you should know that not just the underwater world is special. Not a few interesting tours on the surface that you must visit.
Interested in seeing and exploring the charming tourist destinations in Raja Ampat, see the places you should visit in one of the cities in West Papua, huh!
1. Exploring beauty - Misool
Image credit: @ dicky_k45
To Misool, that means you have touched Raja Ampat. Yes, from here your journey and adventure in East Indonesia can begin.
Image credit: @ reizhardfernando.o
Dive into every aquatic niche on one of the four major islands in Raja Ampat and you will find sights, which are not only extraordinary, but also special.
Image credit: @marischkaprue
It's hard to describe one of the most hit tourist destinations in Raja Ampat, so you should go directly to the location!
2. Beautiful lagoon in a remarkable place - Star Lagoon
Image credit: @evandertambuwun
Yes, there is a star-shaped lagoon in Raja Ampat, precisely on the island of Pianemo. The view from the coral hill just illustrates how beautiful this place is.
Image credit: @ astrid.caesaria
But to make it clearer as to what the underwater panorama in Star Lagoon is, why not go straight into it. Guaranteed not to be disappointed!
3. Iconic natural monument - Pencil Stone
Image credit: @ ivanalee87
A towering reef, and alone in the middle of Kabui Bay, is a separate icon.
Image credit: @fifi_yurike
Because of its popularity, Stone Pencil is always a reference for taking pictures. You cannot miss this spot if you are on a holiday to Raja Ampat, huh!
Image credit: @ astrid.caesaria
4. Raja Ampat Icon - Wayag
Image credit: @tiarauliana
Wayag is also one of the icons of Raja Ampat. The trail of coral wrapped in green in the middle of a blue sea that presents incredible panoramas makes Raja Ampat so global.
Image credit: @tarra_lautner
It's not difficult to get an impressive moment at Wayag. Posing against the background of a fantastic scenery has become a must.
5. Tourist villages and fun diving spots - Arborek Village
Image credit: @dudisugandi
If you want to meet local people, while enjoying a beautiful panorama, Arborek Island is what you should visit. Almost all of its citizens have wide hospitality and smiles, ready to welcome with open arms anyone who comes to their village.
Image credit: @neyu_ma
One warning for those of you who want to visit Arborek village, don't be stolen by the sincerity shown by their citizens. So sweet!
6. Island that is only white sand - Pasir Timbul
Image credit: @lutfi_ady
The extraordinary Raja Ampat nature is still added with special wonders, sand arises. This location finally transformed into a sand island, which is located close to Mansuar Island.
Image credit: @ hello_kitty.09
Like other sand islands, this island in one of the tourist destinations in Raja Ampat will show its white sand if the sea water is receding.
Image credit: @iraatulus
This is the right moment for you to take a selfie and set foot before the lost island is swept away by sea water during high tide.
7. Local wisdom and sincere cheerfulness - Sauwandarek Tourism Village
Image credit: @ nugrahafajar11
One more Raja Ampat tourist village that you can visit - Sauwandarek Village. Local wisdom that is shown by its citizens makes you probably lazy to go home.
Image credit: @dustinriyadi
In addition, around Sauwandarek village, there are also various fun spots to enjoy the unique coral reefs of Raja Ampat. Even on the pier, the underwater scenery is very special.
Image credit: @martinsupriatna
8. See Cendrawasih - Sawinggrai Village
Image credit: @ilhamarch
Well, for those of you who want to see native Papuans, Cenderawasih birds, in their natural habitat, just head to Sawinggrai village. But you have to be willing to get up early and prepare trousers and shoes and not be noisy to get good luck watching this bird of paradise.
Image credit: @kapanlagitrip
Even if you don't see this bird, don't be disappointed because you can find many fun things at Sawinggrai. Not only the natural panorama, but also the hospitality of its citizens.
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