Getting Started: Trading Alts on Binance

Binance Cryptocurrency trading platform
Binance Cryptocurrency trading platform

Disclaimer:  Buying Cryptocurrency is risky, selling Cryptocurrency is risky. Trading is risky. Not trading is risky. This is not financial advice. Don’t wager more than you’re prepared to lose. If you’re experiencing problematic behavior financially seek professional help.

Binance, like Binary Finance, Bitcoin Finance, or just plain Finance with a B,  is a great Cryptocurrency coin exchange site hosted in Korea, run by Chinese entrepreneurs. It’s been claimed that they are the fastest Startup Unicorn to reach Profitability. A Unicorn defined as a startup with a market capitalization or valuation of over one Billion dollars, $1,000,000,000. That’s a lot of zeros! While Bitcoin exchanges are under constant scrutiny in China and threats of regulation appear constantly in the FUD (Fear, Uncertainty, and Doubt), as far as I know, Binance gets around any restriction by not offering any onramp or offramp to fiat currency. You can deposit BTC Bitcoin, ETH Ethereum, USDT Tether, and Binance’s own coin BNB. BNB can also be used to pay your trading fees and if you choose to support their native token by paying in BNB, your trading fees are at 50% off. Seems like a great deal to me to support a fledgling industry. Their mobile app is supported natively on Android in the Play store, and only by unsigned direct download for iOS. Take it with a grain of salt that storing any coins on an exchange is risky and your politics may not align with the host nation. These 4 coins form the basis of the trading pairs for the other alternative cryptocurrency coins and tokens.

Binance Android trading
Binance Market change

The design of the app is very elegant with limit and market orders offered. All pricing is against bitcoin or the other trading pair, but they do provide an estimate of $USD that can be handy for at-a-glance net worth. They say true Crypto traders never value their holdings in fiat but Bitcoin is so volatile it’s hard for those getting started not to lust for dollars! Two-factor authentication through Google Authenticator is possible and minimal KYC is required until you want to withdraw more than 2 BTC at a time. The interface can be intimidating for those coming from Coinbase’s point and click buy/sell operations, but if you’re an experienced trader or a stock market trader used to technical analysis and Japanese candlesticks you will probably appreciate the detail. There’s been some criticism of the New Coin onboarding process with rumors of hefty fees and commissions being charged by Binance to represent a new coin or token, but in the words of the CEO, Changpeng Zhao, “Listed coins have zero complains about our fees”.

They brought on nearly 250,000 users in a single hour after the doors had been closed to ramp up their capabilities.

 

Here are the coins they list today:

  • CTR/BTC
  • SNGLS/BTC
  • TRIG/BTC
  • DNT/BTC
  • OAX/BTC
  • ELF/BTC
  • EVX/BTC
  • MTL/BT
  • SALT/BTC
  • HSR/BTC
  • LEND/BTC
  • VIB/BTC
  • GTO/BTC
  • BCD/BTC
  • XRP/BTC
  • GAS/BTC
  • BTS/BTC
  • XZC/BTC
  • MCO/BTC
  • LSK/BTC
  • OMG/BTC
  • ICX/BTC
  • QTUM/BTC
  • FUEL/BTC
  • DASH/BTC
  • ARK/BTC
  • ZEC/BTC
  • APPC/BTC
  • BNT/BTC
  • ETH/BTC
  • BCC/BTC
  • MTH/BTC
  • WTC/BTC
  • MANA/BTC
  • TNT/BTC
  • XVG/BTC
  • POE/BTC
  • TRX/BTC
  • ENJ/BTC
  • TNB/BTC
  • YOYO/BTC
  • POWR/BTC
  • KMD/BTC
  • STORJ/BTC
  • ADA/BTC
  • BAT/BTC
  • DLT/BTC
  • NAV/BTC
  • REQ/BTC
  • LINK/BTC
  • CMT/BTC
  • XMR/BTC
  • BQX/BTC
  • PPT/BTC
  • NULS/BTC
  • BTG/BTC
  • NEO/BTC
  • WINGS/BTC
  • RDN/BTC
  • ZRX/BTC
  • DGD/BTC
  • RCN/BTC
  • ETC/BTC
  • OST/BTC
  • WABI/BTC
  • LUN/BTC
  • NEBL/BTC
  • ARN/BTC
  • FUN/BTC
  • BCPT/BTC
  • CND/BTC
  • SNT/BTC
  • CDT/BTC
  • SUB/BTC
  • ADX/BTC
  • SNM/BTC
  • XLM/BTC
  • AION/BTC
  • GVT/BTC
  • WAVES/BTC
  • AMB/BTC
  • STRAT/BTC
  • QSP/BTC
  • KNC/BTC
  • EDO/BTC
  • BNB/BTC
  • MOD/BTC
  • GXS/BTC
  • ICN/BTC
  • BRD/BTC
  • LTC/BTC
  • LRC/BTC
  • IOTA/BTC
  • AST/BTC
  • MDA/BTC
  • ENG/BTC
  • EOS/BTC
  • VEN/BTC
  • VIBE/BTC

Watch a short interview with Binance CEO Changpeng Zhao on Youtube by Boxmining.

Take a look at this post about a Four Word Cheat Sheet for the Top 100 Altcoins.

Support my blog by signing up with my affiliate code. https://www.binance.com/?ref=13512739

Vancouver Car Share Companies

Car share has been a big hit even before ridesharing like Uber. Car2Go and Zipcar have been around for years. Many have said millennials are giving up owning a car but around the Greater Vancouver Regional District GVRD where housing prices are the least affordable in Canada, saving the average Canadian’s $275 a month car payment can go a long way to helping climb the property ladder. Car Share can bridge the gap between cycling, public transit, a taxi, and walking or other forms of active transport, without the need to rent a car for a whole period of 24 hours.

Car2go Car Share Smart Car
Car2go Car Share Smart Car at UBC campus in Vancouver
ZipCar Hyundai Elantra at UBC campus in Vancouver
EVO Car Share at UBC campus in Vancouver
Prius C EVO Car Share at UBC campus in Vancouver

Evo looks like they only use Toyota Prius C and they all have active lifestyle roof racks for bikes, skis, and boards.

Charlie Munger Speaks about Bitcoin at University of Michigan Ross School of Business

Charlie Munger recently did a long format talk at the University of Michigan Ross School of Business. He had this to say about Bitcoin and Cryptocurrency.

“I can answer those very quickly. I think its perfectly assinine to even pause to think about them. You know it’s one thing to, to think that gold has some marvelous store of value because Man has no way of inventing more gold or getting it very easily. So it has the advantage of rarity. Believe me, Man is capable of somehow creating more Bitcoin. They tell you they’re not going to do it but they mean they’re not going to do it unless they want to. That’s what they mean when they say they’re not going to do it. If they tell you there are rules and they can’t do it, don’t believe them. When there is enough incentive, bad things will happen. Its.. bad people, crazy bubble, bad idea, luring people into the concept of easy wealth without much insider work. It’s the last thing on earth you should think about. If it worked it would be bad for you because you would try to do it again. It’s totally insane. And by the way, I’ve just laid out a wonderful life lesson for you. Give a whole lot of things a wide berth. They don’t exist. You know… crooks, crazies, egomaniacs, people full of resentment, people full of self-pity, people who feel like victims, they’re just a whole lot things that aren’t going to work for you. Figure out what they are and avoid them like the plague. And one of them is Bitcoin. And the worst thing would happen if you won because then you would do it again. It’s total insanity. It’s so easy to simplify life, from just, all of these things are beneath you. I don’t even want to know… People are promoting bitcoin, I don’t want them to know my address. They’re not my kind of people”

How The Economic Machine Works

Ray Dalio explains How The Economic Machine Works. The confluence of Productivity Growth, the Short Term Debt Cycle, and the Long Term Debt Cycle are the main drivers of the Economy.

Hidden Secrets of Money

A friend introduced me to Mike Maloney’s series of videos a few years ago now and I had a hard time reconciling this pessimistic viewpoint with my real-world experience. The term Gold Bug is used a pejorative and a some of the videos start to border on conspiracy theory. If your key take-away, is that this is a commercial for GoldSilver.com, you should dig a little deeper. I found the videos largely factual and informative. They’re well presented and well produced. I don’t have any holdings in Gold beyond a little pin, but it might represent a reasonable store of value with reasonable liquidity, but it lacks the divisibility many people ask of their money.

Episode 1

Episode 2

Episode 3

Episode 4

Episode 5

Episode 6

Episode 7

Personal Development

I’ve just started down a road of systematic personal development, rather than a haphazard approach in the first third of my life. Here is who I’m reading lately.

Personal Development

Jim Rohn

Tony Robbins

Jocko Willink

 

Value Investing

Howard Marks

Warren Buffet

Joel Greenblatt

Ray Dalio

Ben Graham

 

Financial Independence

MrMoneyMustache

 

Cryptocurrency

Andreas Antonopoulos

Laura Shin

Trace Mayer

Tone Vays

 

Blockchain and Consensus Algorithms

Leemon Baird

 

Titanium Canada


Some of you know about my foray into E-commerce. While we netted 4 figure growth in year 2 the growth projections showed we wouldn’t sustain it and reach scale without a significant reinvestment. The initial inventory we bought was our competitive advantage on products with a long lead time and we could notice trends of other sellers going out of stock and then an increase in orders. For the Titanium gifts we sold, it was a seasonal business, meaning December was approximately 30% of the annual sales and the first time we had 4 digit sales numbers for the store.