Binance Coin (ERC20) (BNB)
Binance Coin (ERC20) statistic
What Is BNB Coin?
Binance Coin (BNB) is the main token of the Binance exchange. It is used to reduce trading commissions encouraging users to take part in competitions. The distinctive feature of BNB among the number of cryptocurrencies is the ability to reduce trading fees for token holders within the Binance ecosystem. So, the exchange encourages traders to buy their cryptocurrency. If you think that the regular battles that Binance holds for traders almost always involve BNB coin, it's easy to understand the prospects of the coin.
Binance Coin History
BNB was launched through an initial offering in 2017. This happened about 2 weeks before the Binance project got available for individual users.
Initially, Binance Coin was an ERC-20 token offered on the Ethereum network. The overall supply was 200 million tokens, and half of them were provided to investors during an ICO. In spring 2019, the outdated ERC-20 BNB coins were replaced by BEP2 BNB at a 1:1 ratio with the development of the Binance Chain. Since then, they aren't available on Ethereum.
BNB Use Cases
Binance Coin is not only for those who use the exchange. As the number of users has increased over the years, other ways have appeared. Like other cryptocurrencies, this token can be used in a multitude of spheres, including:
- Traveling. Pay for booking hotels or flights on Travala, TrevelbyBit, and other websites.
- Entertainment. Buy gifts on Gifto, place bets on BNB-Lotto, or get copyrighted music on MachiX.
- Finance. Get a loan on ETHLand or Nexo and share expenses on Lndr.
These are only a few ways to use this token. Since the industry is changing daily, new ways to exploit this crypto appear regularly.
Binance Coin Price Prediction
The project team offers a great variety of incentives for individuals to buy tokens and use their exchange. This platform uses contests, discounts, and enticing methods to attract users to join it.
Binance coin price today is 647.0409 USD.
A lot of people who use this token for investing and trading are reaping the benefits of discounts due to the good return on investment. So, BNB has all the characteristics of a thriving asset. Lots of experts have a good BNB price prediction. For instance, the WalletInvestor team says it will reach $850 in a year, and the DigitalCoinPrice experts think it will get over $1,100.
Another element of Binance's offering is the launch pad where IEOs are provided. This way of raising money is more legal and regulated than an ICO. If the number of IEOs going through Launchpad continues, the price of BNB coin will theoretically rise.
Is BNB Coin A Good Investment?
After all, Binance Coin is tied to the performance of the platform. If it continues to thrive, the BNB price should also increase. This exchange has gone through a great number of improvements in some years. It opens offices in different parts of the world, expands the list of features, and supports a lot of national currencies. The project has thousands of users worldwide, and in the long run, this should definitely increase demand for this coin.
What To Expect In The Future?
The future of the project is promising. As an exchange, this platform is super-fast. In fact, the technology behind this project also "powers'' over 30 Asian exchanges. Experts developing this platform are knowledgeable and have an economics background. The prospects of this exchange certainly seem bright.
As for the BNB token, it is worth looking at it as an investment. It's pretty compelling and can give a good return when watched closely. And to make this investment easier, use StealthEX.
How To Buy BNB?
The speed of development of the Binance project is striking. The project takes more and more new niches. So, a lot of people start paying attention to Binance Coin. Yet, BNB isn't available for mining. All nodes are controlled by the project owners, and an external user will never become a validator.
The most obvious way to buy BNB is on its native exchange. However, if you think that besides Binance, the internal coin of this platform is not available anywhere, you are wrong. You can also purchase this digital asset and read recent BNB coin news on StealthEX. This platform allows you to exchange coins like LTC or BTC to BNB. You don't have to provide much information for this transaction, everything is quick and secure.
The process takes just a few minutes, just go to StealthEX.io and follow these easy steps:
- Choose the pair and the amount for your exchange. For example BTC to BNB.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your coins.
Also, you can study a detailed article with an exchange guide or watch a tutorial video on our YouTube channel.
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The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.