Binance Coin is a native cryptocurrency of the Binance crypto asset trading platform. It was originally designed to pay commissions and other services. Binance is launching new services that use Binance Coin. In 2018, the company launched the successful Binance Launchpad service based on the cryptocurrency exchange to conduct initial coin offerings of new blockchain projects. Binance Coin cryptocurrency is required to participate in the token sale.
In the spring of 2019, Binance launched its blockchain, Binance Chain, which transferred all Binance Coin coins. Dozens of projects moved to the Binance blockchain, and a decentralized trading platform Binance DEX was also launched on the network. Increased demand for Binance Coin contributes to the growth of the price of this crypto asset. Also, do not forget that exchanging NANO to BNB today is not a problem.
Advantages of investing NANO in Binance Coin
- Buy and sell Binance Coin for NANO is at an exchange price, unlike the Telegram bots and exchangers offering a price 30% higher than the market price.
- Buy and sell Binance Coin for NANO is instant with one click. Deposit and withdrawal take from a couple of minutes to 2 days, depending on the deposit method.
- No passport scan or other documents are required to open an account.
We advise not to get emotional about the possible price fluctuations. Alternative financial instruments are designed for long-term investing. However, you will be able to close the transaction at any time.
- The positive dynamics of Binance Coin in the past do not guarantee similar growth in the future.
- The rush in demand for Binance Coin and speculative interest causes the price to rise well above its fair value. The correction in value can be very sharp.
- The price of Binance Coin cryptocurrency may decline due to app developers’ unpopularity with the Binance Coin blockchain.
- The value of Binance Coin or the capitalization of the entire market could fall sharply due to the emergence of any legal restrictions.
- The price of Binance Coin could fall due to pressure on the project from law enforcement agencies and regulators caused by failure to meet data disclosure standards.
Advantages of Binance Coin (BNB)
- You can pay for goods and services with it, part of the trading commissions;
- Possibility to exchange it for fiat currency, to store it in separate wallets, to go to a new platform;
- Payment of exchange staff salaries;
- Trading as altcoin;
- Use in other platforms (Qlink and Skycoin);
- Quarterly coin burn.
The initial issuance was in the amount of 200 million. But the company has chosen a forward-looking strategy: every quarter, after redeeming a portion worth 20 percent of its profits from circulation, it burns them. This will continue until there are only 100 million of them left in total. This not only allows it to fight devaluation but also gives it an extra reason to grow.
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Unlike the usual cryptocurrency, the prospects for buying Binance Coin are much greater. Because behind it is not just an imprecise possibility of implementation in the distant future, but the specific economics of the exchange itself. The cryptocurrency market is in a developmental stage. Turnover will only grow. If you are looking for a coin for a medium or long-term investment, Binance Coin is a great option.