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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.

It seems like an easy thing to do - donate a car to a charity you support, and get a tax break in the deal. Until 2005, it actually was almost that simple. All you had to do was determine the fair market value of your vehicle, and pick a charity that accepted cars. Today, the rules have changed a bit, largely in response to a report by a Government Accounting Office that totalled lost tax revenue from over-valued vehicles at more than $650 million in the year 2000. So, should you still donate your car to charity? Absolutely. But there are caps on what you can claim: $500 Limits Generally speaking, there is a $500 value threshold for gifted vehicles. This doesn't mean that your donated car can't be worth more, but it does mean that if it is, you'll have to do some extra documentation.(This threshold applies to planes and boats as well as cars.) Valuation Ceilings If your vehicle has a fair market value of more than $500 (as determined by sources like the Kelley Blue Book), and the charity that accepted it then turns around and sells it, you cannot claim more than their selling price. (Example - you donate a hatchback worth $1,000 and the charity sells it for $750. You can't claim more than $750 as a deduction.) In addition, the charity has to provide written documentation of the donated vehicle's IRS-allowable deduction within 30 days of accepting the car, or within 30 days of selling it if they do so. You must include this documentation with your tax return when you file. Below-Market Resale But what if the charity you donated your car to sells it far below market? Or what if they give it away? You may still be able to claim the full $500 even if your car was sold for only $250. Again, the charity in question must give you documentation, this time that the sale or gift was to a needy person. Intervening Use Aside from the rules above, there is an "intervening use" clause in the new regulations. Basically, if you donate your car to a charity, which then uses it to make deliveries or pickups (or for other work-related reasons) before selling it for less than your estimated $1,000, you may be able to still deduct the full $1,000 if they provide proof of use as well as proof of sale. In addition to the limits on how much you can deduct, and what documentation you have to have, deductions for donated vehicles must still follow all the rules for any other charity deductions you may have. The three most important rules are: Donation must be within the tax year. This means that your car must be donated by December 31, 2007 to be included as a deduction on your 2007 taxes. Deductions must be itemized. If your car is the only deduction you can claim, you may want to consider selling it outright, as you can only get a tax break for it if your itemized deductions on a 1040-A exceed the standard deduction that would normally apply to you. Documentation must be submitted with your return. While it used to be standard for you (the donor) to retain the receipt from your charity in case of a question later, it is now required that such documentation be included with your w-2's when you submit your return. (Make sure you keep a copy.) After all this, should you still donate a car to charity? Yes. In most cases it's beneficial both to you and the accepting charity - and there are around 4,000 charities across the country that take donated vehicles. One final tip though? Always consult your tax advisor. Lindsay has been providing auto reviews and car buying guide for carseek.com for over 2 years. Her extensive experience in the auto industry provides a wealth of information for carseek.com readers. Article Source: https://EzineArticles.com/expert/Lindsay_Kaplan/46420 Article Source: http://EzineArticles.com/550811

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