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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.

For over two decades, making a vehicle donation to a charity has been very popular for those trying to get rid of that old unwanted car. Many charities across the country have become quite dependent on the funds raised through vehicle donations. So much that the rise of numerous vehicle donation processing companies have begun to fill the automotive landscape, giving way to many options for charities and donors alike. Unfortunately, many of these companies have become complacent in how they process your vehicle donation, resulting in low sales numbers, meaning minimal write-off potential. VEHICLE DONATIONS - a quick glance back In the early years of 2000, this landscape had been on rock solid foundation with nothing standing in its way. Then signs of economical instability turned into governmental concerns and eventually lead to governmental action. Ultimately it was the findings of the Senate Finance Committee's investigation by the GAO (U.S. General Accounting Office), spearheaded by its chairman Iowa's Senator Grassley, who had uncovered a multitude of car donation abuses. With part of their investigation focusing on the tax year 2000, results came in claiming approximately 6% of all noncash contributions over $500 reported on returns that year were for vehicle donations. Their analysis estimated vehicle donation deductions lowered taxpayers' income tax liability by $654 million that year alone. The GAO study tracked a judgmental sample of 54 donated vehicles for that year to compare the amount of proceeds the charities received from vehicle sales and the amount claimed as deductions on donor's tax returns. The findings raised eyebrows. From the sample of 54 donated vehicles, the charities only received 5% or less of the actual value the donor had claimed as a deduction on their tax returns. They identified two factors that contributed to this difference. 1. Donated vehicles were often sold at wholesale prices rather than at the price the donor might expect if selling the vehicle to a private party. 2. Vehicle processing and fund-raising costs are subtracted from gross vehicle sales revenue; further reducing the proceeds charities receive from vehicle sales. They also indicated that they were unable to determine whether individuals claiming deductions for donated vehicles accurately assessed the fair market value of their vehicle, because data as to the vehicles condition was not available. However they mentioned some charities they interviewed stated some of their donors' claims about vehicle value might have been inflated. The GAO's 43 page findings and recommendations were very detail oriented and what Congress eventually approved was included in the American Jobs Creation Act of 2004. The final version of the changed law took effect for tax year 2005. Charity Car Donation TAX LAW OVERVIEW THE OLD DAYS (tax year 2004 and older) A taxpayer could claim fair market value for any vehicle donated to charity up to $5,000 accompanied by a receipt from the charity, regardless of what the charity sold it for. No reporting requirement on behalf of the charity. Anything over $5,000 still required a receipt from the charity, along with IRS tax form 8283 and a required third party appraisal. The charity was required to submit IRS form 8282 once the vehicle sold. TODAYS STANDARDS (tax year 2005 to PRESENT) A taxpayer could claim up to $500 for any vehicle donated to charity accompanied by a receipt from the charity, regardless of what the charity sold it for. A taxpayer could claim whatever amount the donated vehicle sold for by the charity, accompanied by IRS form 1098C completed by the charity, indicating the amount sold and other pertinent info from the donor. If sold for more than $5,000 then IRS form 8283 will be required as well. A taxpayer could claim fair market value (usually determined by an evaluation guide, like KBB.com) if the charity materially improves the vehicle or uses the vehicle significantly and accompanied by IRS form 1098C. If determined value is more than $5,000 then IRS tax form 8283 along with a third party appraisal will be required as well. Charity will be required to submit IRS form 8282 once the vehicle is sold. WHY IS THIS IMPORTANT? The abuses identified in the governmental study, pointed at several issues, but at the end of the day, it was determined to be a loophole in the law and lack of governmental resources to police it that would change the way the vehicle donation process would continue. These new changes put the responsibility of how much the donor could claim on the shoulders of the charity or vehicle donation processing company. This is where the problem lies. It's been over six years since the vehicle donation tax laws have changed and in that time we have seen many vehicle donation companies come and go. But the one thing we haven't seen much of, is how the existing vehicle donation processing companies or charities have changed to accommodate this new tax law. Most seem to work in that old mind-set, selling the vehicles it receives as quickly as possible. Their primary goal is to get your car donation, not maximize your deduction. To them it's a numbers game. The more cars received, the more money in fees they collect. Selling most through wholesale auto auctions or wholesale outlets and to prove this point, just recently one of the larger vehicle donation companies with hundreds of charities on board was just bought out by a Nationwide Auto Auction Company who specializes in Wholesale. With the responsibility falling on the vehicle donation company or the charity to maximize the donor's right off, selling donated cars in a wholesale environment is a careless business practice, where the donor is the one who loses. Lately we have heard from many car donors who had donated vehicles to other organizations and were dissatisfied with the end result, because the company processing their car donation sold it much cheaper than it was worth. AT THE PROSTATE CANCER AWARENESS PROJECT, WE GET IT! Our staff has years of experience in this field dating back to the late 90's and since every donated vehicle is different, it's crucial knowing which advertising medium will yield the highest selling price, maximizing our donors write-off potential. Retail classifieds, such as Craig's List, Ebay, Auto Trader, etc. are typical of where we advertise your donated car, truck, van, RV or Boat. In the event we use an auction to sell our donated property and prior to accepting the highest bid, we will thoroughly investigate vehicle values and confirm bid prices are in line with real world retail prices, again insuring the highest value possible for our donors write off potential. Unlike most our competition, who's primary goal is to get you to hand over your vehicle to them, only so they can move it as quickly as possible, in a WHOLESALE environment. We on the other hand, spend a great deal of time making repairs, professionally detailing your donated vehicle and then researching the best RETAIL venue, showcasing it with detailed photos, making every effort possible to get the highest price possible. So, please don't be tricked by other company's claims about receiving the highest value for your donation. If they are not selling your donated vehicle in a retail environment then they don't have your best interests in mind. Read More at [http://www.carsforprostatecancer.org/info-for-donors/facts-about-car-donation-to-charity/]. Donate your car to the Prostate Cancer Awareness Project [http://www.carsforprostatecancer.org/]. Daryl - Prostate Cancer Awareness Project Article Source: https://EzineArticles.com/expert/Daryl_Reese/1073790 Article Source: http://EzineArticles.com/6308130

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