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.
U.S. COURT OF APPEALS FOR THE SECOND CIRCUIT CONFIRMS ASBESTOS JUDGMENT AGAINST TRAVELERS
Insurer must finally pay $500 million in asbestos-related settlements
Today the U.S. Court of Appeals for the Second Circuit, by denying a request for rehearing and a rehearing en banc, confirmed that the Settlement Agreements Travelers agreed to in 2004 were binding and enforceable contracts between the parties, that all conditions had been satisfied, and that, in an attempt to avoid its obligation to thousands of asbestos victims, whatever Travelers’ “private hopes and dreams were,” they were not supported by the language of the agreement.
“Travelers now has to finally live up to its commitment and provide rightful compensation to asbestos victims who waited more than a decade for this to be settled and done with,” says Motley Rice co-founder Joe Rice. “We are gratified that perseverance by all involved has resulted in this positive, and now, final ruling.”
Attorneys with Motley Rice LLC have played a central role in the litigation against Travelers for its alleged breach of duty to the injured asbestos victims for more than 20 years. This litigation was spearheaded out of the consolidated asbestos litigation in West Virginia State Court and then transferred to the U.S. Bankruptcy Court for the Southern District of New York, which supervised the Johns-Manville bankruptcy starting in 1982. After years of litigation, Motley Rice led negotiations of a settlement structure that resulted in a $360 million settlement for the victims in states that had statutory provisions governing the action of insurers such as Travelers. Later, a common law settlement fund of $70 million was created by other attorneys. The firm has continued to manage the settlement approval process in the decade-long appellate proceedings surrounding these cases.
Travelers had sought to avoid paying these settlements, arguing that certain items were a condition precedent to the obligation to make payments. In July 2014, the Second Circuit disagreed with the company’s arguments and found that “. . . Travelers’ interpretation amounts to a contractual term that is incapable of ever being fulfilled . . . such an impossible condition – with no support in contractual language and clearly not intended by the parties – would have rendered the contract a nullity from its inception.” The Second Circuit cited its 1997 opinion in Klos v. Lotnicze, stating “undoubtedly, that that is the reason why no such requirement is found in the Agreement’s terms or Exhibit As, whatever Travelers’ ‘secret and subjective intent.’”
“Travelers tried and now has failed to avoid its contractually agreed to compensation plan,” added Rice. “It’s a theme that we have unfortunately seen since then by companies in other major settlements but thankfully our justice system isn’t letting companies get away with it.”
The case is Common Law Settlement Counsel, Statutory and Hawaii Direct Action Settlement v. Travelers Indemnity Co et al, 2nd U.S. Circuit Court of Appeals, Nos. 12-1094, 12-1140 and 12-1205.
Our attorneys are compassionate about the incredibly difficult situation of asbestos victims and are deeply committed to holding accountable those companies responsible for allowing this potentially deadly exposure helping victims receive fair compensation.
Additionally, we strive to give our clients a voice at a time in their lives when they feel the most vulnerable and seek improvements in workplace safety to prevent future asbestos-related diseases from occurring.
What is Asbestos?
Asbestos is a naturally occurring mineral fiber that was once valued for its resistance to heat, electrical and chemical damage, and was used by dozens of trades. With millions of microscopic fibers, asbestos can easily break apart and become airborne and possibly inhaled. Should asbestos fibers be inhaled, they may become lodged in your lungs, potentially leading to lung cancer, mesothelioma or other asbestos-related diseases. Additionally, because asbestos fibers travel so easily through the air, not only the person working with asbestos-containing products but also bystanders run the risk of inhaling these fibers and developing an asbestos-related disease even decades after exposure.
From the early 1900s through the 1980s, asbestos was used in thousands of different industrial products, including pipe and furnace insulation materials, roofing shingles, floor tiles, millboard, textured paints and other coating materials.
In 1989, the United States banned asbestos in specific products. This ban, however, did not ban the use of asbestos altogether. Additionally, other countries continue to mine asbestos. As a result, asbestos can still be found in a number of consumer products, including building materials, friction products and heat-resistant fabrics.
Mesothelioma and Asbestos-Related Diseases
Asbestos exposure is strongly associated with several potentially fatal illnesses, the most serious of which is malignant mesothelioma. This aggressive cancer affects the lining of the lungs, heart, abdomen and other organs, and, as with all asbestos-related diseases, it often doesn’t manifest for years or even decades after the initial exposure. Because mesothelioma, asbestos lung cancer and other related diseases can almost always be attributed to asbestos exposure, you should tell your doctor about any past exposure, including your work or family history. Learn more about our cases involving mesothelioma and asbestos-related diseases.
Asbestos Exposure
Companies and manufacturers dealing with asbestos have known for almost a century that the inhalation of asbestos fibers is associated with mesothelioma, lung cancer, asbestosis and several other debilitating and often fatal asbestos-related diseases. Thousands of unsuspecting workers were exposed daily to this dangerous carcinogen as they worked in factories, mills, railroads and other industrial occupations, often bringing asbestos fibers home and unknowingly exposing their family through household asbestos exposure.
For decades, asbestos manufacturers chose profit over people’s health by continuing to manufacture, distribute and supply asbestos-containing products. Until this harmful carcinogen is banned once and for all, asbestos exposure, asbestos-related diseases and mesothelioma will continue to be major national and international health concerns.
OUR HISTORY IN ASBESTOS LITIGATION
Motley Rice lawyers have more than three decades of experience litigating asbestos-related lawsuits, taking on giant asbestos corporations and fighting for the rights of mesothelioma victims and victims of asbestos cancers and other related diseases.
Motley Rice co-founder Ron Motley began working on asbestos cases in 1976, but it wasn’t until 1978, when he secured the infamous “Sumner Simpson” papers demonstrating manufacturer knowledge of the hazards of asbestos as early as the 1920’s, that the tide began to turn against asbestos defendants.
Many firms also turn to Motley Rice to help with their cases due to our experience and resources in challenging asbestos- and mesothelioma-related litigation. Along with litigating asbestos cases across the country, our attorneys also hold leadership and liaison roles in asbestos litigation in several of the states where our offices are located, including West Virginia, South Carolina, Rhode Island and New York.
West Virginia Asbestos
Along with our offices located around the country, we’re proud to have asbestos-focused attorneys working from Morgantown, West Virginia. For more than 30 years, our attorneys have worked closely with West Virginians who have been exposed to asbestos through their employment at one of the many industrial plants located throughout the state.
Our Work as Canadian Asbestos Counsel
Our attorneys have also served as U.S. legal counsel for Canadian provincial workers’ compensation boards since 1987, helping Canadians seek U.S. legal recoveries from non-employer third parties who may be responsible for a Canadian employee’s workplace-related injury.
Asbestos Exposure, World Trade Center Dust and the 9/11 Victim Compensation Fund
On Oct. 3, 2011, the United States government reopened the 9/11 Victim Compensation Fund for people physically injured or exposed to toxins such as asbestos and other harmful dust at the World Trade Center crash site following the terrorist attacks on September 11, 2001. The new 9/11 VCF enables more people, including 9/11 workers and volunteers who were hurt, got sick or died as a result of the attacks and the aftermath, to obtain compensation from the program. Learn more about this fund and how we can help.
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