Binance Coin (BNB) Analysis
Market Cap
$4,018,457,359 USD
Volume (24h)
$498,897,533 USD
Top cryptocurrency services
Binance Coin investment analysis
Binance investment in one of the fastest growing crypto trading exchange and has dramatically changed how digital assets are being traded in the crypto world.
The project is a cryptocurrency trade ecosystem with its own coin – BNB, which is used also within the ecosystem as an exchange commodity between some crypto assets that are listed on its platform, there are benefits for using the currency on the network to perform trades.
The project was created by Changpeng Zhao a former co-founder of OKCoin, a huge cryptocurrency exchange in China and he was also a frontier developer in the blockchain.info platform, quite the experience with decentralized projects and wallet technology which brings a lot of resourcefulness to the development of Binance alongside a host of other developers on his team.
How to buy?The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing possible profit rate in the coming months.
The tool analyzes each currency for the 6-month historical price data, searches for possible patterns and showing the possible price in the coming months.
How to buy Binance Coin?
To buy BNB you would have to visit their website and register, then from there, you can buy using BTC, ETH or any of the other trade pairs. You could also buy from Bancor; other than these two, there are currently no other exchanges that list the BNB, which makes it quite challenging for some people to get even though the asset is quite popular, making it a rare coin to buy on other exchange platforms.
However, Binance has over 50 market trades on its platform, trading against so many cryptocurrencies, and also against BTC, ETH, and USDT as trade pairs. Its value is a bit centralized and limited to its trading environment.
If you consider the exchange online wallet as too dangerous, you can choose to simply add it to your MEW wallet. Other safer alternatives would be to consider storing it offline on a Ledger Nano S or Trezor hardware wallets.
Beyond its market cap, I think this coin has some promise to it, since they are a well know exchange which offers two options for cryptocurrency trading, namely basic and advanced, this also I think is the reason for its gradual rise in price. However, continuing growth greatly depends on the number of users on the platform. Also, trading on Binance is somehow difficult to those that don’t have knowledge on how exchanges work, because the interface is not so user friendly, and technically speaking, I see that as a major setback to the growth of the platform, as well as the coin. Another drawback to this platform, lies in the fact that, it has no fiat payment option. Though Binance has abundant partners and resources and is set to grow rapidly, over the next couple of years. I think the developers have a lot of trivial, yet necessary, work to do.