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 10 Proven Best Free Mobile Messaging Apps
Developers the world over are constantly innovating. They design and develop messaging apps that let us stay connected conveniently to each other in this fast-paced modern world. Most of these apps require you to subscribe or pay to download and install. Quite a good number though are available absolutely free-of-charge.
We are going to highlight, and briefly explain, our selection of the top ten best free mobile messaging apps as of the year 2018. These apps generally let users make free voice and video calls, share instant messages, photos, and even text messages. We hope this will help you get started hassle-free. A selection of the 10 proven best free mobile messaging Apps.
#1: WhatsApp
This is perhaps the king of mobile messaging apps. It was jointly developed by Brian Acton and Jan Kuom. The app was taken over by Facebook Inc. in February 2014. It presently boasts of over 1.5 billion total users who are spread out in over 180 countries. It is also visited by 450 million users monthly and 315 million users daily.
The app basically lets users send each other instant messages, make video and voices calls, and send free text messages among other features. It does have a payment option which, at the moment, is limited to India alone. This is the WhatsApp Pay feature. All the transactions are processed by the Unified Payments Interface.
#2: Facebook Messenger
Closely trailing WhatsApp is the Facebook Messenger. As the name suggests, it was indeed developed by and is owned by Facebook Incorporated. It boasts 1.4 billion active users as of December 2017. It is presently installed on 87.5% of all Android devices in circulation. It does have a payment option which is still in beta version at the moment.
This messaging app enables two Facebook users to chat, exchange files and photos, make video calls, and even send each other text messages. It does not require the subscribers to share their telephone contacts as each user logs in with his Facebook username.
#3: WeChat
WeChat stands apart from the top messaging apps in that it originates from the most unlikely location - China. By the close of the year 2017, it had around 963 million monthly active users. It is basically a social chatting tool that lets its users chat freely with their friends. It also has a friend-finder tool which enables you to track the location of your contacts via the GPRS functionality.
It does support a range of payment options. These include Native In-App Payments, QR Code, Quick Pay, and In-App Web-Based. Because of this, it brings along the benefit of utmost convenience to its users.
#4: Telegram
This Russian-developed instant messaging app is cloud-based. This simply means that it stores all the conversations, files, and data in a cloud. It thereafter avails this data to its users regardless of their precise locations on the globe. It grants its users the ability to send instant messages, exchange photos, files, videos, audio, and stickers.
At the moment, it has 180 million active users globally. The app has variants that are compatible with various operating systems and platforms. Among these are iOS, Android, MacOS, Windows Phone, Linux, and Windows NT.
It also has a payment option. This option basically acts as an intermediary between the end user-payer, the bot developer, and their preferred payment platform.
#5: Snapchat
In sharp contrast to other mobile messaging apps, Snapchat is multimedia. This simply means that it handles and transfers files of various formats and types. It lets users chat instantly, share files and photos, and hold live video conferencing, among others.
It had a whopping 187 million daily users as of the end of 2017. It is also available in 22 languages and is mainly popular among North American and European teens.
Other than sending each other messages, the app also allows users to send money to one another. The money is relayed by use of Square Cash's email payment platform.
#6: Line
Unlike most other mobile messaging apps that are restricted to mobile devices, Line accommodates several electronics. It can work well via cellphones, personal computers, laptops, tablets, and smartphones. It is free-of-charge and commands an active user base of about 217 million people. It is mainly restricted to Asia though.
With this app, users can chat; make conference voice and video calls, exchange photos and stickers, and even play games! It does have a payment platform called LINE Pay. This provides a secure and trustworthy payment service.
#7: KIK
Developed by the Canadian company, KIK Interactive, this software is a freeware instant messaging mobile app. It is available free-of-charge via the iOS and Android operating systems. It is also free to operate as it utilizes your smartphone's data plan or the Wi-Fi connectivity to send and receive mobile web pages, instant messages, videos, photos, and sketches.
In the year-ended 2017, it had 300 million active users. It is especially popular among US teens. The app launched its own digital currency called Kin. With this currency, users will be able to earn and buy items from inside the app.
#8: IMO
IMO supports and works well alongside other big instant messaging names like Yahoo!, AIM, Google Talk, Facebook Chat, and MSN Messenger. It basically lets you chat instantly with all your contacts in the aforementioned social networking sites. This saves you a great deal of time and effort as it absolves you from the need to log in to those sites separately.
Other than sending and receiving instant messages, the app also lets users make and receive video and voice calls, for free! At the end of 2017, the app had been downloaded 500 million times especially by the younger range of teenagers.
#9: Viber
Founded in 2003, this social chatting app bears several similarities with most other mobile messaging apps. It is cross-platform in that it can work well across several operating systems and platforms. Examples of these are iOS, Microsoft Windows, Android, Linux, and MacOS. It had a whopping 980 million registered users worldwide as of the year-ended 2017.
Apart from merely chatting, the app also enables its users to make phone calls to each other, absolutely free! Other than that, it also enables users to exchange media - like images and video records. It has no payment platform of its own.
#10: Kakaotalk
Closing our list of the top mobile messaging apps is this free mobile instant messaging application for smartphones. With a pretty small user base of just about 49.7 million10, this app is mainly limited to South Korea and much of Asia. It does have a bright future though as more and more people are anticipated to download it in the future.
The app is loaded with free text and free call features. It also works well across several platforms as MacOS, Bada OS, Android OS, Windows Phone, BlackBerry, Windows, and Nokia Asha.
It also comes along with KakaoPay which basically allows users to pay for certain products online using their KakaoTalk account. It also allows users to safely transfer money to their respective bank account from their Kakaotalk chat. They do this without necessarily using any of their authentication certificate or one-time-password (OTP).
Conclusion
Mobile apps for Android and iOS are indeed here to stay. Moreover, they also play a crucial role in enhancing how we connect to and share with people all around us. You just cannot afford to overlook them at all; not when you own a smartphone.
For this reason, you have to make every effort to download and install at least one of the free mobile messaging apps. The 10 best free mobile messaging apps we have identified and reviewed above will usually give you the much-needed starting point.
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