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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.

Often one of the first questions a person has when deciding what to do with a car they no longer want is "What will my tax deduction be if I donate it to charity?" When you donate car to charity the amount you can claim on your itemized federal tax return depends on two things; the fair market value of your car and what the charity does with the car. The fair market value of your car is the amount you could sell it for on the day you donate car and is based on the condition the your car. To determine the fair market value or FMV of your car you can use any of the popular pricing guides to help, including the Kelly Blue Book, NADA Guide or Edmund's Guide. If you are using the Kelly Blue Book or Edmunds Guide, you should start with the private party values and then adjust those values according to the mileage and condition of your car. Do not use the values listed under Retail or Clean Retail to determine the FMV of your car. These are the values for the car if it were purchased from a car dealer and in excellent condition. It is important that you are reasonable in determining which values to use based on the actual condition of your car. Here are some general guidelines you can use to help determine the correct selection for the condition of your car; Excellent Condition or Clean Retail means that the car has never had any body work and has no rust. This is basically "show room" condition. If your car had some body damage at one time, even if that damage was completely repaired, you can not use this category. Good Condition or Clean Trade-in means the car has some very minor blemishes, little or no rust, no major mechanical problems, good tires, etc. If your car has a dent, is rusted or has a significant problem like the transmission slips, the engine knocks, etc. you can not use this category. Fair Condition or Average Trade-in means that the car is in reasonable running condition has some repairable mechanical problems, damage or rust. Most car donations fall into this category. Poor Condition or Rough Trade-in means that the car has severe mechanical problems, severe damage or severe rust. If your car has a salvage title or flood title you must use this category. The second thing that determines the amount you can claim for your tax deduction when you donate car is what the charity does with your car donation. If the charity sells your car as-is, without making any significant improvements, your tax deduction depends on the amount they sell it for. If it is sold for more than $500, the sale price is the amount you can deduct. In this case, the charity is required to provide you with IRS Form 1098-c. If your car is sold for less than $500, you can claim the FMV up to $500. If the charity sells the car after making significant improvements you can claim the FMV as long as it doesn't exceed the amount you paid for the car. In this case the charity has to provide you with a statement that they plan to make those improvements, what those improvements are and that the car will not be sold until after those improvements are completed. If the charity plans on keeping your car and using it for their purposes, you can claim the FMV as long as it doesn't exceed the amount you paid for the car. In this case, they have provide you with a statement of their intent to use the car, how long they intent to use it and certifying that the car won't be sold until the completion of that use. If the charity intents to donate car to or a needy person or sell it to them for much less that its FMV, you can claim the FMV as long as it doesn't exceed the amount you paid for the car. In this case the charity must provide you with a statement of their intentions and that the gift or sale directly furthers its mission. Karen Campese is the Co-founder and CEO of Cars4Charities, a not for profit car donation center. They have over 1,000 respected charities that you can donate car [http://www.cars4charities.org/] to. When you donate your car [http://www.cars4charities.org/], you get a tax deduction and help a good cause. Article Source: https://EzineArticles.com/expert/Karen_Campese/14891 Article Source: http://EzineArticles.com/5084237

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