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

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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

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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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…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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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…

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