If you are looking for new places and new aspects that will help you make more money, BNB is the right choice. Many people may seem to get confused about this particular concern. However, you need not worry as you will get all your doubts and concerns cleared about Binance coins through this in-depth article. Read on to learn more about bitcoin vs bitcoin gold.
Few Words About Binance Coins
Cryptocurrency is a huge umbrella that will find a plethora of coins and trading elements. Binance coins are a part of crypto, which has become the largest cryptocurrency in the world. They started to build binance coins in the Bitcoin Era in the Ethereum platform. Here the coin blocks were mined, and transactions took place.
Now, binance coins have their developing platform, which BNB symbolizes. This platform is called Binance exchange. When the coin was launched in 2017, its ideal use was for trading purposes only, wherein the trading fees would be deficient. However, with time it developed into so much more.
These days, people can use Binance coins to pay for transaction fees within the Binance exchange. They can also avail themselves of online and entertainment services and conduct bookings with the use of Binance. Today, the coins are at a market capitalization of close to 90 billion dollars.
Where Can You Use Binance Coins?
The initial idea of introducing binance coins was to lessen the transaction fee. But with time, these coins became so much more than just a way to avoid transaction fees. Now there are so many utilities of binance coin that only a few could fit below:
- Trading
Trading is an essential part of cryptocurrency, so most people shift to this investment area. You can trade the assets you own to another user or trader without leaving any footprints. With binance coins, you can trade these coins for some other crypto depending upon the terms and conditions.
- Easy & Convenient payment options
Payment of credit card bills is the most annoying thing ever, it reminds you about all the unnecessary things you spent your money on. With BNB, you will be able to make those payments without transferring your money into crypto for your credit card.
- Merchant payment processing
Many merchants accept payment through BNB cryptocurrency. This allows regular traders of BNB to get access to their required necessities with these coins directly. Hence you will not be required to cash out your coins.
- Bookings
If you are thinking of making plans for a short getaway trip, you would want to make quick transactions. This can be done with BNB and its faster transaction techniques. You need not convert your crypto money into any other currency and enjoy making bookings for your trips with fast transaction speed.
- Availing of Loans and transactions
When it comes to using BNB coins, they are as collateral to availing of loans. However, that is limited to only certain platforms. Moreover, if you need something to split bills with, you can do that with applications and BNB coins. That will simply calculate how much people owe and pay your share in crypto.
Things to know about binance coins before investing
1. Market capitalization
Binance coin has a massive market capitalization which makes it perfect for investment. In 2020, BNB bought CoinmaketCap, a huge crypto data site. It also owns TrustWallet, which is a decentralized wallet for storing crypto coins.
2. 900% increase in price
In two years, the price of BNB crypto went from ten thousand dollars to a hundred thousand dollars. As an investor, you can only imagine how much you will gain when you have succeeded in investing in the market.
3. No headquarters
Interestingly, around 2000 employees work with BNB crypto and have their offices worldwide. However, it does not have headquarters. It was indicated that though it is completely registered, it need not have any headquarter. But with proper analysis and smart business, one can ace the job and earn thousands and millions.
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