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.
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Small Business
Best free accounting software of 2018
Manage your small business' finances more effectively
Best free accounting software
BEST FREE ACCOUNTING SOFTWARE
1. GnuCash
2. Money Manager Ex
3. TurboCASH
4. Wave
5. NCH Express Invoice
Read on for our detailed analysis of each app
Whether you're a freelancer or a flautist, a graphic designer or a greengrocer, if you're running any kind of business you really need some kind of accounting software to stay on top of things – as we discovered, the age-old system of throwing everything into a drawer and panicking at tax return time isn't the best.
But that doesn't mean you need to invest huge sums or learn something hopelessly complicated. The best free accounting software is easy to use and enables you to see how well you're doing and who owes you money.
GnuCash is the best free accounting software
GnuCash is straightforward, completely free, and supported by a huge community of users, so you'll never have to look far for help online
1. GnuCash
A simple approach to bookkeeping - the best free accounting software around
VISIT AMAZON
Hugely flexible softwareBoasts some payroll featuresHandles multiple currencies
GnuCash is accounting software designed for individuals and small businesses, and was initially conceived as an open source alternative to apps such as Intuit's Quicken.
It's available for Linux, GNU, OpenBSD, Android, macOS and Windows, and it's been kicking around since the late 1990s - but the most recent update was in April 2018.
It handles invoicing and credit notes, accounts payable and receivable, employee expenses and some payroll features too, and it's quite happy with multiple currencies, cards and accounts. Its sheer flexibility makes it our top choice when it comes to accounting software for kitchen table businesses.
Review and where to download: GnuCash
Download Money Manager Ex free
Money Manager Ex is available for Windows, macOS, and even Android
2. Money Manager Ex
Straightforward enough for home use, as well as small businesses
VISIT AMAZON
Impressively user-friendlyPlenty of featuresCan be used straight from a USB stick
Another superb open source tool, Money Manager Ex is well designed and packed with enough features to rival premium software. It's easy to understand, and you'll have your accounts and transactions set up in no time. Money Manager Ex's simplicity makes it a particularly good choice for sole traders or your own home finances.
This free accounting software is a portable app, so you can save and use it straight from a USB stick without installing it. There's even an Android app for updating your accounts on the move.
Review and where to download: Money Manager Ex
Download TurboCASH free
TurboCASH might be overkill for sole traders, but if you employ a few staff you might appreciate its extra capabilities
3. TurboCASH
A heftier accounting tool that will suit owners of SMBs
Handles multiple companiesBig online communityNot for the likes of sole traders
TurboCASH is free accounting software that's been in continuous development since April 1985, and it's hugely popular in Europe, the US, Canada and Australia. It's available in 23 languages and boasts an online community of more than 100,000 users.
Designed for small and mid-sized businesses (SMBs), it's probably a bit much for freelancers or sole traders, but if you need something a bit more useful than a cash book TurboCASH can handle VAT, debtors and creditors, purchase orders, multiple companies and multiple users.
Download here: TurboCASH
Try Wave online
Wave is online-only, and the tools it offers make it particularly well suited to freelancers
4. Wave
Slick, cloud-based free accounting that works well for freelancers
$9.99
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$12.98
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Hugely popular serviceNicely designed and put togetherWill be too basic for medium-sized firms
With more than two million users, Wave is one of the most successful online accounting services - and it's completely free for accounting, invoicing and receipts, although if you want personal technical support you'll need to pay for it. Payroll isn't included in the free service either, and you do get the odd advert – just as you do with pretty much any free online service.
It's a very well designed and carefully thought out application, and while it's probably a little basic for medium-sized businesses it's a good option for sole traders, freelancers and small firms.
Try it online: Wave
Download NCH Express Invoice Free
Express Invoice is really a slick interface for an online accounting tool
5. NCH Express Invoice
Generate forms, invoices, quotes and orders in moments
Support for diverse range of platformsUseful range of reportsOnly free for firms with fewer than 5 employees
With versions for PC, Mac, iPad and Android, NCH Express Invoice caters for most kinds of businesses - and if you have fewer than five members of staff, you can have it for free without time limits or other restrictions.
It's designed to create invoices, quotes and orders easily, to automate recurring ones and to send them by email or fax, and there's a decent range of reports to pore over. The free accounting software is really just a front-end for a web-based service, but that's no bad thing unless your business struggles to get a decent internet connection.
Download here: NCH Express Invoice
Download VT Cash Book free
VT Cash Book is fast and easy to use, but you'll need Microsoft Excel installed too
6. VT Cash Book
Minimalist bookkeeping that uses Excel for the grunt work
No-fuss accountingCan be used to prepare VAT returnsNot the prettiest app out there
It's not going to win any awards for aesthetics, but VT Cash Book isn't there to look good: its priority is to record day to day cash transactions with the least amount of fuss. It uses Autocomplete to speed up data entry, supports multiple bank accounts and bank reconciliation, can be used to prepare VAT returns and enables you to create profit and loss, balance sheets and ledgers.
The free accounting software installs alongside its companion program, the paid-for VT Transaction+, but you don't need to buy the latter to use the former.
Download here: VT Cash Book
Download Invoice Expert free
If your home business sells goods, Invoice Expert is definitely worth a look thanks to its stock management tools
7. Invoice Expert
A good option for anyone selling physical products
Boasts inventory and customer managementHandles invoicing and quotingFree version has restrictions
The free version of Invoice Expert is limited to 100 customers/products, but it retains the features of its $69.95 (about £50, AU$90) sibling including inventory and customer management, invoicing and quoting, purchase orders and inventory management.
This free accounting software is a little bit intimidating at first glance, especially in the template-editing screens, but it's straightforward enough. It's an American program but it uses your Windows location to set the currency, so it should adjust itself accordingly.
Download here: Invoice Expert
Download Adminsoft Accounts free
Adminsoft Accounts isn't just great for tracking income and expenditure - it can also manage some payroll functions for small businesses
8. Adminsoft Accounts
A complete money-management toolkit for small business owners
Free with no strings attachedHandles stock control and moreEven has some HR capabilities
These days genuine freeware - that is, software that's given away for free without adverts, bundled software or ulterior motives - is a rare thing, but it describes AdminSoft Accounts: more than 300,000 people have taken advantage of what is a surprisingly thorough free accounting system (and an unusually honest set of terms and conditions).
It can handle not just invoicing and statements but remittance advices, stock control, purchase orders, budgeting and some HR functions too. It's a UK program so the default is pounds sterling, but it works happily in other currencies too.
Download here: AdminSoft Accounts
Try QuickFile online
QuickFile's online-only tools are clearly presented, and you can access them from any internet-connected device
9. QuickFile
Free small business accounting in the cloud – no desktop software needed
Designed for non-accountantsSupports multiple currenciesHave to be online to use
Designed specifically for non-accountants, QuickFile offers free tiers for small businesses while still delivering automatic invoicing, purchase receipt management, quotations and multi-currency support.
It’s cloud-based rather than a software download, and if you like the free version you can upgrade to an ad-free, more advanced version with bulk invoicing, revision history and a host of power user features for a modest fee.
Try it online: QuickFile
Download Apache OpenOffice free
Apache's free alternative to Microsoft Excel is perfectly capable of handling basic accounting if you don't mind putting in the legwork to set it up
10. Apache OpenOffice
Make your own accounting sheets using the free office suite
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