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.




HALAMAN SELANJUTNYA:
In Most organizations, travel and entertainment (T&E) expenses are often overlooked as insignificant or inevitable. Because of that, they do not immediately come to mind in the context of traditional supply chains. According to the Aberdeen Group, "Employee-initiated travel and entertainment (T&E) can account for one in five operational dollars a company spends (with even higher percentages at service firms)." Following is a discussion of expense management automation (EMA) as a part of total cost management (TCM). Expense reimbursement mixed in manual paper-based procedures, lack policy enforcement resulting in lengthy and costly process cycles with no reporting or analysis capability. However, times have changed, and the tough economic conditions of the past few years have forced organizations to curb expenses and scrutinize travel policies. As a result, business T&E expenses are virtually untapped areas for process automation and cost savings in all companies. Organizations all over the world are cutting direct costs, which make up 30-60% of most companies overall expenditures. Employee-initiated expenses, such as T&E contribute up to 20% to these costs. However, traditional expense management systems are time consuming, labor intensive, and lack a policy enforcement mechanism. They also require significant staff resources, including managers and accounting personnel. Over the last decade companies have invested in electronic enterprise resource planning (ERP), building a sophisticated TCM infrastructure or better manage direct and indirect costs. However, little attention paid to automating and optimizing employee-initiated expenses. According to the Aberdeen Group, "EMA offers as much opportunity, if not more, as e-procurement in reining in costs." Understanding Expenses Many leading global companies with the most sophisticated ERP systems can provide detail such as the exact quantity, location and price of the smallest component of a commodity in their products supply chain. However, these systems fail to track how much employees spend on hotels, where they stay, and/or how much they pay per night. According to the Aberdeen Group survey, despite million-dollar travel budgets and 100% manual auditing of all expense reports for policy compliance, in most companies support of the T&E functions for employees is non-existent or neglected. For example, top sales executives could spend hours each week preparing expense forms, finding receipts, and sending the paper packet (via overnight mail) to a manager for approval. Any problem with the report means several rounds of phone calls, which wastes employee and administration time. Additionally, if any out-of-policy expenses identified, managers usually view them with indifference. According to Aberdeen Group, many companies use employee reimbursement as a loophole to circumvent the accounting department, policies, and/or systems. Overall, manual expense reporting has proven to be an inefficient, frustrating, and expensive process for all involved - an area ripe for automation. The Power of EMA As is true with any automated process, EMA is about enhancing collaboration, streamlining processes, controlling costs, and enhancing the information exchange within and across organizational boundaries. EMA helps companies focus on the bottom line and reduce costs by quickly and consistently collecting expense information, enforcing company policies, and gaining efficiency. The automation of expense management is no different than automating any internal process, and considered as a strategic tool in TCM. Besides the manual method, there are other EMA methods, available in the marketplace, including outsourcing and licensed software. However, the most cost-effective method is a 100% Web-Based application service provider. Web-Based EMA solution providers target companies that push the envelope in business process automation and supply chain efficiencies using the Internet. "The companies that have embraced Web Based EMA solutions are reaping significant rewards ... and are also prepared themselves for when the market begins to grow again, as they can do more with fewer A/P employees. Many companies promised that expense management process could simply be addressed using financial or sophisticated ERP system modules. However, according to the analysts, many best-practice companies have found themselves turning to Web-Based providers for ease-of-use and ease-of-implementation. Solution provider like iEmployee are addressing and solving real business issues, and the companies deploying Web-Based solutions are gaining significant and rapid business value -value that translates into business advantages that were unattainable before the advent of Internet technology. Key advantage of Web-based EMA: In Most organizations, travel and entertainment (T&E) expenses are often overlooked as insignificant or inevitable. Because of that, they do not immediately come to mind in the context of traditional supply chains. According to the Aberdeen Group, "Employee-initiated travel and entertainment (T&E) can account for one in five operational dollars a company spends (with even higher percentages at service firms)." Following is a discussion of expense management automation (EMA) as a part of total cost management (TCM). Expense reimbursement mixed in manual paper-based procedures, lack policy enforcement resulting in lengthy and costly process cycles with no reporting or analysis capability. However, times have changed, and the tough economic conditions of the past few years have forced organizations to curb expenses and scrutinize travel policies. As a result, business T&E expenses are virtually untapped areas for process automation and cost savings in all companies. Organizations all over the world are cutting direct costs, which make up 30-60% of most companies overall expenditures. Employee-initiated expenses, such as T&E contribute up to 20% to these costs. However, traditional expense management systems are time consuming, labor intensive, and lack a policy enforcement mechanism. They also require significant staff resources, including managers and accounting personnel. Over the last decade companies have invested in electronic enterprise resource planning (ERP), building a sophisticated TCM infrastructure or better manage direct and indirect costs. However, little attention paid to automating and optimizing employee-initiated expenses. According to the Aberdeen Group, "EMA offers as much opportunity, if not more, as e-procurement in reining in costs." Understanding Expenses Many leading global companies with the most sophisticated ERP systems can provide detail such as the exact quantity, location and price of the smallest component of a commodity in their products supply chain. However, these systems fail to track how much employees spend on hotels, where they stay, and/or how much they pay per night. According to the Aberdeen Group survey, despite million-dollar travel budgets and 100% manual auditing of all expense reports for policy compliance, in most companies support of the T&E functions for employees is non-existent or neglected. For example, top sales executives could spend hours each week preparing expense forms, finding receipts, and sending the paper packet (via overnight mail) to a manager for approval. Any problem with the report means several rounds of phone calls, which wastes employee and administration time. Additionally, if any out-of-policy expenses identified, managers usually view them with indifference. According to Aberdeen Group, many companies use employee reimbursement as a loophole to circumvent the accounting department, policies, and/or systems. Overall, manual expense reporting has proven to be an inefficient, frustrating, and expensive process for all involved - an area ripe for automation. The Power of EMA As is true with any automated process, EMA is about enhancing collaboration, streamlining processes, controlling costs, and enhancing the information exchange within and across organizational boundaries. EMA helps companies focus on the bottom line and reduce costs by quickly and consistently collecting expense information, enforcing company policies, and gaining efficiency. The automation of expense management is no different than automating any internal process, and considered as a strategic tool in TCM. Besides the manual method, there are other EMA methods, available in the marketplace, including outsourcing and licensed software. However, the most cost-effective method is a 100% Web-Based application service provider. Web-Based EMA solution providers target companies that push the envelope in business process automation and supply chain efficiencies using the Internet. "The companies that have embraced Web Based EMA solutions are reaping significant rewards ... and are also prepared themselves for when the market begins to grow again, as they can do more with fewer A/P employees. Many companies promised that expense management process could simply be addressed using financial or sophisticated ERP system modules. However, according to the analysts, many best-practice companies have found themselves turning to Web-Based providers for ease-of-use and ease-of-implementation. Solution provider like iEmployee are addressing and solving real business issues, and the companies deploying Web-Based solutions are gaining significant and rapid business value -value that translates into business advantages that were unattainable before the advent of Internet technology. Key advantage of Web-based EMA: Quick to implement and easy-to-use No Need to purchase equipment No requirement for new software No Special support needed from your information technology (IT) staff. Pay-per-use Low Start-up costs Rapid return of investment (ROI) In Part II we have: Functions of Expense Management Automation Making Decisions EMA yields Quick ROI Fenil Shah is CEO of iEmployee a provider of Web-native, online time & attendance and HR/Benefit self-service solutions. Resources: Web Online Workforce Management Software Online Employee Expense Management Software Solution Article Source: http://EzineArticles.com/403733
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