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

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BinanceCoin
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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.

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Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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