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Reasons Why It is Judicious to Invest in Binance Coin (BNB) This Year
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Reasons Why It is Judicious to Invest in Binance Coin (BNB) This Year

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Binance
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The time that we are living in right now, cryptocurrency has vanquished a considerable portion of the overall trading market and rapidly making inroads to the homes of common people apart from experienced businessmen and investors. Under the circumstances, the competition to maintain a secure and commendable position on Coinmarketcap has become fiercely challenging for even the leading cryptocurrencies like Bitcoin, Ethereum, etc. Moreover, the recent downfalls in price have exacerbated the current market condition of many top cryptocurrencies.

However, using such uncertain times as the golden opportunities to divert the attention of the traders from the usually popular coins, a significant number of new Altcoins are making rapid improvements and marching forward in the cryptocurrency chart. The default cryptocurrency of Binance Exchange, the Binance Coin (BNB) certainly falls under this umbrella of digital currencies.

Since its tokenization by the end of July 2017, Binance Coin has been grabbing the attention of a considerable number of experienced as well as novice investors. Within just nine months of its introduction as a tradable token, BNB has achieved the 20th position on Coinmarketcap in terms of total market capitalization. This incident alone can vindicate its popularity among crypto-traders. Here, a few aspects of this coin would be discussed to establish the fact why it is still a great cryptocurrency option to invest.

The Developmental Period of BNB Token:

Binance coin is the default currency of the world’s largest cryptocurrency exchange of the same name. At this very moment, the overall trading volume of Binance exchange is nearly 2.2 billion USD on a 24-hour scale. So, when this exchange announced about issuing their own token, it grabbed the attention of the traders residing all across the globe. In the whitepaper, the development team of this renowned exchange mentioned various facts about BNB token explicitly. According to those facts, BNB is a coin that will run exclusively on Ethereum Blockchain Platform along with other ERC-20 tokens and at most, 200 Million Binance tokens would be available for trading in the market at a time. The sole purpose of forming this currency was to offer a discount on fees incurred while paying with this currency.

During the ICO period of this coin, the distribution of BNB coins was meticulously organized by the exchange. Now, 50% of the coins are sold as ICOs and the rest is distributed between the group and angel investors in a 4:1 ratio. The efficient, strict, and rigid ecosystem that Binance exchange provides for this coin is one of the main reasons behind its meteoric rise in the price chart.

Distinct Features and Advantages of BNB Coin:

BNB token, being the default cryptocurrency of Binance Exchange, incorporates all of its unique features and offers to its holders. Some of these features include:

a. Superior Technology: Binance possesses a very skillful development team that helps this currency as well as the exchange of going through constant upgrades and implementing new user-friendly properties. The Binance platform is capable of processing nearly 1.4 million orders per second which offers the luxury of time to BNB traders.

b. Scalability and Convenience: The efficient BNB platform is currently deployed on more than thirty exchanges and offers its traders the advantage of a decentralized cryptocurrency trading environment. Also, this cryptocurrency platform also offers scalability and convenience by supporting multiple languages on its platform. The BNB token can be supported in a vast range of devices starting from desktops to Android and iOS Smartphone.

c. Clean and User-Friendly Interface: The BNB platform, as well as the exchange, offers a pristine and easily comprehensible user interface for the traders. As a result, the investors can have a seamless trading experience with no doubt whatsoever while trading this currency.

d. Available Options and Discount: Binance being the largest cryptocurrency exchange in terms of trading volume till date offers numerous cryptocurrency options for trading with BNB coin on its platform. It allows traders of different currencies to invest and elicit considerable profit from this coin. Also, the exchange provides a generous discount to all the traders trading BNB on Binance platform.

e. Security: The cryptocurrency exchange of Binance is one of the most secure exchanges of the world which is impervious to hack attacks and other malicious cyber activities. This invariably makes BNB coin one of the most secure currencies to exchange. Also, unlike many other big guns, BNB coin is actually very stable and provides assurance.

Recent Events and Partnerships:

On April 15th of this year, Binance completed burning of 30 million tokens for the purpose of increasing its demand and lowering circulation. Burning coins is a very effective way to maintain equilibrium between demand and supply. Although so far there are no conspicuous signs of price surge yet, the speculators are expecting a change in the market sentiment very soon.

As far as partnerships are concerned, Binance has been engaged in a strategic collaboration with NEO smart economy, one of the most promising blockchains in China as well as the world. The currency is likely to involve in more lucrative partnerships by the end of this year.

Final Thoughts:

The BNB token currently holds the 20th position on Coinmarketcap with a commendable market cap of circa $1.4 billion along with a price of approximately $12 (as of 19th April 2018). As soon as the effects of the recent event of coin burn begin, the price of BNB is likely to experience a positive surge. With more new partnerships and upgrades, the user interface and security of this currency are also likely to ameliorate significantly. Hence, the importance of investing in this default currency of Binance Exchange is now quite evident.

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

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 and read our full disclaimer.

Image courtesy of OTA Photos via Flickr

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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Ripple
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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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Crypto Market is Not Free from the Bearish Trend Yet

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bearish
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Investors and traders are still speculating over the bullish trend that shook the market this past seven days. However, amidst the joy of the price hike in the industry, some people are still cautious. A crypto trader with the twitter handle of BTC_Macro is advising other players in his tweet to be careful. According to him, the bearish cryptocurrency market is not over yet.

In the tweet, the user admonished players in the market not to listen to the people saying that the bears have given up. It went further to say that Bitcoin may still plunge uncontrollably anytime even if it breaks the $6K mark. When this occurs the twitter user continues, any scenario may occur. The advice is that players in the crypto market should be on the neutral side. According to the user, it is not safe to be on the bullish side or the bearish side. Instead, players should be on their toes without bias.

How Trader reacts to price movements

Over time, it has become evident that many traders usually go against the market majority during bearish or bullish trends. Well, there is usually some logic backing up the reactions.

It is true that we have seen the longest bearish trend in the history of cryptocurrencies. Everybody who has a stake in the crypto market is expecting the day of the bull’s rise…

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