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.
Various tourist attractions in Malaysia, located in Southeast Asia, are famous for exotic islands with many amazing features such as beaches, tropical rainforests and cultural diversity.
A large number of these islands are popular for diving and snorkelling because of the clear water and colorful coral reefs. Tourism islands in Malaysia are not only beaches and for diving. There are many places here such as colonial villages, beautiful temples, bustling resorts and adventure activities. Find out more about the best Malaysian Islands, here are 10 of the most beautiful islands in Malaysia that you must visit.
1. Pulau Tioman
Pulau Tioman Malaysia
Pulau Tioman - photo: www.tourist-destinations.com
Regarded as one of the most beautiful islands in the world, Tioman with a beautiful background for filming in 1958, "South Pacific." Pulau Tioman still maintains a lot of natural beauty and diversity of wildlife including monitor lizards. Because Tioman is surrounded by coral reefs, this island is a good place for diving and snorkeling. Tourists here can also enjoy jungle trekking, swim under waterfalls, visit turtle farms and see local culture in traditional villages.
2. Perhentian Islands
Pulau Perhentian Malaysia
Pulau Perhentian - photo: stylemybeach.blogspot.com
Located off the East coast of Malaysia and not far from the Thai border. Pulau Perhentian is a mandatory place in Malaysia for travelers. The two main islands are Perhentian Besar and Perhentian Kecil. It has some of the most beautiful beaches in Malaysia and great diving with many cheap inns available. Visitors can also explore tropical forests that cover many islands.
3. Pulau Langkawi
Langkawi Island Malaysia
Langkawi Island - photo: www.youtube.com
The most famous tourist destination in Malaysia, Langkawi consists of 99 Malaysian islands in the Andaman Sea. These islands are located close to the Thai border in the Andaman Sea. The island has a population of around 65,000, only another inhabited island is near Tuba Island. Many diverse views of beaches, mountains, rainforests and wetland mangroves, Langkawi offers the biggest tourists a variety of things to see and do.
The popular activity here is to take a trip with the Mount Mat Chincang cable car and walk across the sky bridge to see incredible views throughout Thailand. Nearby is the highest peak of Langkawi, Gunung Raya, which is complemented by resorts, restaurants and a beautiful lookout tower at its peak. There is an Oriental Village where visitors can enjoy cultural performances, watch snake charmers and ride elephants. Interested in visiting this place?
4. Pulau Penang
Penang Island Malaysia
Pulau Penang - photo: http://www.flickr.com/photos/12054060@N04
Regarded as Mutiara Timur because of its strategic location between the sea trade routes. The island of Penang is a large and colorful island formed by a variety of cultures, heritage and world-famous cuisine. You can try riding a rickshaw or strolling around historic Georgetown to see colonial buildings, stately homes, beautiful temples and impressive hotels. Visitors will find many activities from shopping and culinary experiences as well as riding on the beach, photographing snakes at the Temple of snakes.
5. Tenggol Island
Malaysian Tenggol Island
Tenggol Island - photo: www.malaysiasite.nl
Tenggol Island offers tourists enjoy on their own private tropical island. The island is traditionally inhabited, but now contains some good hotels to visit. The brilliant white beach on Tenggol Island is framed by emerald tropical forests in the interior of the island. This small island is a valuable location for fishermen and divers.
6. Pulau Sipadan
Pulau Sipadan Malaysia
Pulau Sipadan - photo: kaki.sini.com.my
Located off the East coast of Malaysia Borneo, Sipadan is a legend among divers. This area is full of exotic species including reef fish, turtles and hammerhead sharks. Finally, Pulau Sipadan has become a protected area and all resorts on the island are now closed. Diving in this place is still permitted but divers transport in and out of land and other islands. The right base to explore Sipadan is Pulau Mabul which is home to a number of High-End Hotels and several Hostels.
7. Pangkor Island
Pulau Pangkor Malaysia
Pulau Pangkor - photo: sass2u.weebly.com
Pangkor Island is a beautiful island that provides beautiful traveling places in a busy world. Most tourists visit Pangkor with its calm atmosphere and beautiful beaches which include Niphah Bay, the Netherlands Bay, Pasir Bogak and Coral Bay. Visitors can enjoy tourist attractions such as Fu Lin Kong China Temple, Kali Amman temple and remnants of the Dutch Fort
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