What’s Binance Coin?
Binance coin (BNB) is a crypto currency issued in July 2017 as an ICO token and is the native crypto currency of the Binance exchange of the same name.
The maximum number of BNB tokens has been set at 200 million of which 50% have been distributed among the startup’s initial investors and founders, while the remaining 50% have been put on the market to finance the project.
To date, Binance is the world’s largest decentralized exchange in terms of number of transactions and is based in Taiwan.
Binance coin allows you to pay commissions on crypto currency transactions within the exchange by receiving a 0.1% discount on the transaction value.
In addition to this, Binance coin can be used by users to invest in ICOs within the exchange.
Very often it is difficult to predict the success of a ‘utility’ currency as it is linked to its diffusion in the market.
In this case, however, we are talking about a cryptocurrency linked to the largest exchange in the world so it is reasonable to assume that it will be successful and will be adopted en masse over the years, also considering the fact that we are only at the beginning of the expansion of the blockchain market.
What is affecting the price of Binance Coin?
1. As already said in the previous video the trend of Bitcoin, inevitably influences the crypto market as it has the largest market cap and this has a certain cascade effect on other cryptocurrency.
2. The use of Binance as an exchange. The greater the volume of transactions within Binance, the greater the use of Binance Coin to pay commissions, and this will have a positive effect on the value of BNB.
3. Exchange-related news such as the opening of a new location, increased trading volumes, etc., will have a positive impact on the value of BNB. This will affect BNB’s perceived sentiment.
At the moment we are recording this video, Binance Coin has a market value of over $2.5 billion and ranks twenty-fifth among the most capitalized currencies in the world.
So is investing in Binance Coin worthwhile?
As we always say, before investing in a crypto currency, it is good to acquire as much information as possible.
In addition to the information we’ve already provided you with, we’ve gone in search of the world’s most authoritative market forecasts and collected them here for you.
– According to WalletInvestor BNB it is an excellent long-term investment and its value could reach $120 in the coming years.
– According to TradingBeasts its value will also increase, but in a more moderate way.
– According to DigitalCoinPrice its value will increase up to $30 in 2020.
The forecasts of these authoritative sources are in accordance with what we have seen before: Binance Coin is certainly one of the most promising cryptocurrencies in the market.
Where can you buy Binance Coin?
You can decide to
– Buy Binance Coin
– Trading Binance Coin
If you decide to buy, we recommend that you do so by purchasing at least $100 worth of Binance Coin on Coinbase (see links in description).
Coinbase is the world’s most secure cryptocurrency purchasing platform and can also be used as a digital wallet.
If you want to trade we recommend you to use the eToro platform (see links in description).
eToro is a company that has been operating in the trading market for over 10 years and is fully regulated and adheres to the strict guidelines of CySEC, FCA and ASIC.
Because all trading involves risk and eToro wants its clients to make smart investment decisions, the eToro platform offers a wide range of responsible trading functions.
Beginner traders will receive support for their first online trading operations and experienced traders will benefit from risk management features that will help them trade intelligently and responsibly.
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