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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.

Everyone has seen and heard the commercials for donating cars to charity and getting big tax breaks at the end of the year. In the past this was true and it was very simple to figure out how much you would save on your return. You used to be able to check the Kelley Blue Book and write off the fair market value of your vehicle, no questions asked. That is no longer the case. Thanks to many people taking advantage of the system the IRS has been forced to crack down. You can't really blame them too much when you hear stories about people writing the value of a '98 Ford Escort as $20,000 on their tax returns. The new rules are much more complicated and make it so that the vehicle lender doesn't know the exact amount of their deduction when making the vehicle donation. Under the new system if your vehicle is worth less than $500 then you don't have anything to worry about, the IRS will accept this minimum amount with no questions as long as you get the correct paper work from the charitable organization you donated the car to. If your car is over $500 then things start to get complicated. The amount of your deduction over $500 is now based upon the vehicle value as well as the amount of use the charity get from it. For example if you donate a vehicle worth $2000 to the Kidney Foundation car charity and they sell it immediately for $1500 then that is your maximum tax deduction. The charity will need to inform you within 30 days of the sale and provide an acknowledgment, which you need to provide the IRS with your tax return. If, however, the charity uses the same car to shuttle patients around for 6 months before selling it for $1500, then you can claim the $2000 value on your return. This is because the charity was able to get added utility from the vehicle that was not fully reflected in the sales price. The new tax regulations do have some beneficiaries though. If you have a very low value car (under $500) you can generally claim that minimum amount on you return. For example if the charity turns around and sell the donated vehicle for $200, you can in most cases, still claim $500 when filing your taxes and have no problems. As with any charitable donation you hope to get a tax deduction for make sure you check out the charity prior to signing the car over to them. If they are not a registered as tax exempt under IRS rules your deduction will be exactly $0. Ask to see their federal tax-exempt status documentation, or call the IRS to verify the organization name at 1 800-829-1040. When filing your taxes the car donation is marked on Schedule A and form 1040. Keep in mind that the deduction is not an addition to your return, but simply a deduction of your taxable income. For example if you make $30,000 a year and donate a car that came back as valued at $2000, your taxable income for the year would be $28,000 for that year (minus any additional deductions). It is still a good idea to donate a car for a tax write off, but the days of getting massive returns are over. If you are looking to find a charity for your vehicle please visit our site about charity for cars. If you would like to know more about Donate Car Tax Write Off [http://charityforcars.org/donate-car-tax-writeoff/] make sure to visit our site. It includes more in depth advice on finding a charity and how to get the biggest benefit at tax time. CharityForCars.org [http://charityforcars.org/] Article Source: https://EzineArticles.com/expert/Philip_Meyer_Smith/698021 Article Source: http://EzineArticles.com/5033430

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