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

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Binance

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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