![]() Today, Binance Coin (now BNB) facilitates discounted crypto trading on Binance alongside giving holders access to the exchange's launchpad and various other products and services. Launched in mid-2017 through an ICO (Initial Coin Offering) valuing each token at $0.15, BNB was used to raise funds for the marketing and development of the Binance cryptocurrency exchange. One must remember, though, that timing the market is a dangerous idea if you believe in Binance Coin and think that its price will keep going up, then any time is a good time to buy.Short for ‘Build and Build’, BNB, formerly known as Binance Coin, is the native cryptocurrency of the Binance ecosystem. Is it a good time to buy Binance (BNB) crypto coin?Īugust 2021, which is when this article is being written, is a good time to buy Binance Coin (BNB). However, keep in mind that the crypto market is volatile and Binance Coin price predictions might change, so do your own research. Can Binance Coin crash or will it keep going up?Īs of late summer of 2021, most experts agree that Binance Coin’s price will keep going up, especially long-term. Changpeng Zhao, the founder of Binance, is known for his business acumen and good development ideas, so there might be something exciting in Binance Coin’s future that will gather even more potential for this coin. What is the potential of Binance Coin?īinance Coin has an incredible potential to grow 300% or more. It’s one of the larger coins with the high gain potential. Yes, Binance Coin is worth buying for people who want to be diversified crypto investors. All this pushed Binance Coin into the top 5 cryptocurrencies by market capitalization. Why is Binance coin so expensive?īinance Coin is so expensive because of the combination of factors: strong fundamentals, company support, built-in user base, and public interest carried over from the time when it was a token on Ethereum. Launching a scam coin would damage Binance’s reputation as a whole, so BNB being a scam is probably not the case. No, Binance Coin (BNB) is most likely not a scam, since it’s issued and supported by Binance - a large, well-known, and trusted exchange in the space. It's also listed on many other exchanges, so you can choose the most convenient way to buy or trade BNB for those who prefer instant exchanges and non-custodial storage, SwapSpace is the best option. You can buy Binance Coin on Binance, of course (even with a credit card). Yes, you should buy Binance Coin if you’re looking to diversify your portfolio with crypto as this is one of the larger coins with a strong company behind it, so it’s less risky than many others. Should I buy Binance Coin (BNB) and how can I do it? The market’s volatility makes it hard to be sure, but the probability based on current trends is very high. Yes, Binance Coin (BNB) will hit $1000 in just a few years, according to the majority of experts. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR). Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Binance Coin projects, the crypto environment in general, legal position, and so on. There is no universal consensus either about positive or negative future BNB price movements. To achieve this, Binance buys back some of the circulating supply of BNB every quarter and burns it.Īs it can be clear from the analysis cited above, Binance Coin (BNB) projections are rather contradictory. BNB token also powers Binance Smart Chain, which is a smart contract compatible chain.īinance Coin is a deflationary currency, meaning that its supply is steadily shrinking, increasing the coin’s scarcity and therefore value.Another use case for Binance coin is unlocking the exclusive access to some IEOs made on Binance platform called Launchpad.BNB is used as a digital currency, as it's a popular way to pay for the goods and services in the Binance partner network.After the migration onto the Binance chain, BNB became a primary means of powering the network as transaction fees, including trading fees on Binance DEX.However, the system’s evolution changed how Binance Coin works: His goal is the expansion of the Binance ecosystem, which also includes the development of its own blockchain, rolling out a wallet, opening some public educational resources, etc.īNB was initially issued through an initial coin offering (ICO) on the Ethereum blockchain, to be used for discount trading fees. This launch is a part of the vision put forward by Changpeng Zhao - the founder of Binance Coin, as well as Binance exchange itself. Binance Coin (BNB) is a utility token launched in 2017 by Binance - one of the largest cryptocurrency exchanges in the world. ![]()
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