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.
How to Prevent Tire Dry Rot
One of the most overlooked parts of any recreational vehicle is the tires. Since tires are made of rubber, common sense tells us that rubber will degrade over time. When the chemicals and oils in the rubber start to evaporate, the rubber loses its flexibility and becomes brittle. When the chemical bonds break down, a dry tire is the result. That is when the rubber in the tire fades from black to dull gray and small hairline cracks on the surface of the tire's sidewalls and tread begin to show. In most cases, it is not safe to drive on tires with dry rot. The heat of long distance driving will cause the rubber to expand and the tires will break apart while driving. That's one way to ruin a well-planned vacation!
For that reason, the tire industry has set the standard for tire replacement at a maximum of 10 years. Some tire companies even suggest a change at the six-year period because rubber degradation can cause a serious accident and compromise your personal safety.
The most common causes for dry rot are lack of use, low inflation in tires, and storage near excessive heat. Dry rot occurs most often on the tires of motor homes, classic & vintage cars, trucks and Jeeps due to infrequent use of the vehicle? One independent survey estimates that classic and vintage cars owners rarely drive their prized possessions more than once a month. Little wonder that this phenomenon would also exist on the tires of all types of trailers whether it is a camper travel trailer, fifth wheel trailer, boat trailer or even horse trailers. In addition to your daily transportation vehicle, there are thousands of tire bearing recreational vehicles that also have dry rot issues that seem to occur more frequently than on the more often used daily vehicles. Many trailer owners become alarmed when the tires on their camper, boat or horse trailer show signs of dry rot after only two years of ownership.
Of course inactivity is not the only cause of tire dry rot. Low tire pressure and exposure to excessive UV rays also adds to the problem. Improperly inflated tires can wear out prematurely and become a safety issue. It is very important that vehicle owners rely on the tire manufacturer to specify the appropriate inflation pressure for their tires. Even though tire pressure is listed on tires, it is important to remember that the pressure stamped on the tire is a maximum rating. Once a month vehicle owners should have the tire pressure checked with an inexpensive tire gauge and the vehicle should be driven often.
Besides tire pressure, there is a great deal of information that can be found on the exterior of a tire. The Tire Identification Number is a Department of Transportation code that identifies the week and year the tire was produced. The first two digits tells you the week of manufacture, and the last two digits are the year. For example, if the last four digits are 1213, that means that the tire was manufactured during the twelfth week of the year 2013. Even if you have had the tires on your vehicle for a short period of time, if the manufacture date was several years ago, there could be some degradation or unwrapping in the tire. Most tire manufacturer's warranties cover their tires for four years from the date of purchase or five years from the week the tires were manufactured.
Probably the greatest threat to tire sidewall cracking (dry rot) is constant exposure to the sun. The degradation process of tires is called thermo-oxidative degradation and it is accelerated in the hotter climates. If your vehicle is stored on a black asphalt or any petroleum-based product or other heat-absorbing surface that naturally attracts the UV rays, then these tires will deteriorate quickly. Constant exposure to sun can speed up the effects of dry rot upon the tires.
So the question is, how can I prevent tire dry rot? The easiest way to protect against dry rot is to check at least once a month that the tires are inflated to the manufacturer's recommendations. The ideal way to store any tire-bearing vehicle for a long period of time is in a climate controlled garage. Since that is expensive and often unavailable for the majority of automobile, truck, camper, and trailer owners the next best option is to protect the rubber of the tire. Some trailer tire owners suggest that the trailer tires have a board placed under the tire while in storage to keep it away from asphalt that attracts UV rays. Others suggest that the trailer be jacked up off the ground and the tires of the trailer be removed and stored indoors if it is going to be in storage for 60 or more days.
Dry rot can be fixed only in the early stages. Many people put a UV block on the tires three or four times a year. The best recommended UV block is by 3M called 303 Protectant. The label says it's good for UV protection of tires. There are many tire owners who suggest the use of ArmourAll but my research indicates that ArmourAll has been proven to hurt the tires more than help.
The easiest and possibly the least inexpensive way to protect your tires is with a tire and wheel cover. These vinyl covers block the sun's rays and encase the tire in darkness. Without exposure to the sun, ozone will not occur and your tires should easily last the recommended 6-7 years before replacement is necessary.
Tire and wheel covers come in a variety of sizes including single, double and even triple axle sizes for motor homes, travel trailers, fifth wheel trailers & campers. They are also available in white, grey or black to match or coordinate with other protective covers used on camper trailers, motor homes, classic & vintage cars, trucks and Jeeps.
Article Source: EzineArticles.com
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