Connect with us

Altcoins

Top 3 Reasons To HODL Binance Coin (BNB)

Published

on

Binance Coin
READ LATER - DOWNLOAD THIS POST AS PDF

After 2018 crypto winter began, everyone involved with cryptocurrencies experienced quite a difficult period. The prices were down, weak projects started failing, and even the strong ones appeared to be in more trouble than they could face. The year was especially difficult for HODLers, as they expected that the coins’ prices would continue to skyrocket. Instead, they lost a fortune, not even knowing if the prices will ever start returning to their former heights.

These days, things do not seem so bad anymore. The prices are still down, most of the coins are still at their newly-found bottoms, but smaller bull runs are improving the situation, while a massive one still remains somewhere in the future, at least according to optimists.

However, among the coins in the vast and diverse crypto market, one token stands out. Binance Coin is not exactly a typical cryptocurrency, and for many reasons. The biggest one is that it is one of the few tokens out there that does not follow Bitcoin’s lead, at least not anymore. Whether that will change in the future remains to be seen, but for now, BNB appears to be going its own way, carving its own path through the crypto market.

Its price has increased by several hundred percents since the year began, and for now, it continues to grow. As such, it is perhaps more worthy of HODLing than other coins. HODLing is still considered to be the best strategy for successful investments, and here are top 3 reasons why you should hold on to your BNB, even if you bought it back when it was much cheaper than it is right now.

1. It was created by Binance

Binance is the largest crypto exchange by trading volume in the world. This makes it the most popular exchange out there, and it serves quite a large part of the world. The exchange developed BNB to be its main token, a base for its platform, its blockchain, as well as its other projects, such as Binance Launchpad.

Lately, it appears that Binance is making all the right moves, which allowed it to reach even further and gain millions of customers. As its native coin, BNB has been extremely successful up to this point, and there is no reason to assume that this will change anytime soon.

The coin is already highly beneficial to the exchange’s customers, as it provides a massive 50% trading fee discount for those who use it. It has numerous trading pairs, and as long as Binance continues doing right by its users, it is likely that BNB will remain a star within the crypto space.

2. Binance brought fiat-crypto transactions

Converting cryptos to fiat currencies is still not an easy task to do. It’s not that it is particularly hard, but most exchanges do not allow a lot of coins to be exchanged for fiat currencies and even those that do typically go only for Bitcoin. Binance aimed to change that with its CEO, Changpeng Zhao, stating that the exchange did not offer fiat gateways, and instead, it relied on others to do that.

However, Binance wanted to change this and make it easier for fiat currencies to enter the crypto space — as long as they have regulatory approval. Back in January of this year, Binance finally did so by launching Binance Jersey — a secure, reliable exchange for exchanging GBP and EUR for Bitcoin and Ethereum in Europe and the UK.

The exchange also hopes to have at least two crypto-fiat gateways on every continent in the following years. BNB token managed to benefit from this decision as well, as the launch of an exchange that targeted specifically European markets brought even more customers to the exchange’s ecosystem, expanding its reach that much further.

3. Binance DEX

Finally, there is Binance DEX, which will run on Binance’s own blockchain. The exchange is currently developing both, with hopes of having them go live soon, potentially in 2019. Announcing a DEX has shown how advanced Binance is when it comes to planning for the future, and how confident it is in the crypto space.

As the world shifts away from centralization, Binance is leading the charge, when most other exchanges would attempt to halt this progression. This is why Binance is still the largest exchange out there, and a favorite of millions around the world.

It goes without saying that BNB will be the DEX’s native coin, and a base cryptocurrency for all transactions, likely with the same benefits as it brings on the exchange’s centralized version. As soon as the DEX goes live, people around the world will rush to it. Their first step will be the purchase of BNB, and the coin is bound to skyrocket when this happens. This is more than a good reason to buy the coin now and HODL for as long as it takes, as it is unlikely that it will stay low-valued for much longer.

For the latest cryptocurrency news, join 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 Pexels

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip
READ LATER - DOWNLOAD THIS POST AS PDF

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

Continue Reading

Altcoins

Can Libra help the crypto industry to reach new heights?

Published

on

Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
READ LATER - DOWNLOAD THIS POST AS PDF

The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

Continue Reading

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

Elite