Connect with us

Blogs

BinanceCoin (BNB) Climbing Up While Paying For Your Exchange Fees

Published

on

BinanceCoin
READ LATER - DOWNLOAD THIS POST AS PDF

BinanceCoin, BNB, with constantly spinning around the value of 9$, but hardly reaching this goal in the past couple of weeks is a part of the biggest crypto exchange: Binance. That being the fact, you can’t miss on giving a thought (or two) about investing in this token – especially with having BNB far from its all-time high price. Furthermore, since it is the case that BNB is a part of Ethereum, the second largest currency on the market, also being backed up by the biggest crypto exchange, BNB seems to be here to stay. So, let’s see how you can take the most out of this token while revealing its true purpose along the way.

The Purpose behind BinanceCoin

BinanceCoin is doing pretty well despite the occasional cases of drops in its price. This currency is launched by one of the biggest exchanges on the market, Binance, ranked as a 24th token on the global coin ranking list. The price of BNB is spinning around 9$ per one unit for quite some time now, which is a major success by itself; and if you add the fact that the only purpose set for this currency is paying for exchange fees, this price becomes even more astonishing.

BinanceCoin might have accomplished this range of price thanks to the fact that this currency is launched and promoted by one of the most popular exchanges on the market where millions of exchanges are being processed on a daily basis.

This leads to an obvious, but still interesting conclusion where you can easily deduct that Binance exchange is getting BNB, a coin forged personally by them, for a service they are providing for investors and coin holders. Since fees have to be settled when purchasing different coins, BNB has to be used and so the market demand for this currency is in the constant flow, which consequently feels good for BNB’s market capitalization.

Binance coin is currently operating on a smaller portion of the network on the blockchain platform of Ethereum, where all coin holders are allowed to get all sorts of discounts when dealing with exchanges on Binance exchange market.

Binance exchange is also planning on designing and launching a decentralized blockchain-based platform where all users would be able to deal with exchanges of different currencies cost-effectively, promptly and in near real-time.

In this case, owning BNB would grant all users the access to special features along with allowing all BNB holders to join the network once Binance exchange launched their decentralized exchange platform.

The number of BinanceCoin tokens is limited and the limit is set to 200 million units. There are 197 million units in circulation at the current moment.

Once the platform is launched, Binance won’t stop there with promoting BNB. It is initially planned to grant all BNB holders a 50% discount on all exchanges through the platform with the guaranteed lowest fees. The longer a user would hold onto using BNB, from year to year that user would be entitled to more discounts.

How is BinanceCoin doing at the Moment?

Since BNB started to trade back in July of 2017, it started from 0.11$ per one unit and promptly climbed up to being worth over 2$ per one token. Since then, BNB had its peaks and lows over the time, so we had it trading at over 24$ per one unit in January 2018, while it soon fell to 9$ and below.

With the plans Binance exchange has for BNB, it is expected that this currency will soon reach its peak again, dealing at 24$ and over the initial all-time high.

With Binance opening the exchange on a decentralized blockchain platform, it is almost easily predicted that many investors will choose this platform as their favorite choice for trading given the fact that Binance is already rated as one of the top exchanges on the crypto market.

There is also a rumor going on that the number of BNB tokens would be reduced in half, having the limit set to 100 million tokens instead of having the limit set to 200 million as it is the case at the current moment.

Although many investors and holders might be worried due to the most recent storm of drops ravaging the crypto market, it is obvious that BinanceCoin would be able to withstand any crisis that may come its way.

The fact that this token is currently set on Ethereum while looking forward to being operated with on Binance exchange decentralized platform that should be launched in the future, BNB says it is here to stay.

We will be updating our subscribers as soon as we know more. For the latest on BNB, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of gotcredit.com

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite