Considering the crypto market’s volatility and the sheer numbers of new altcoins, it’s no wonder that spotting the next big cryptocurrency worthy of investment is nothing short of a challenge for the novice investor.
One cryptocurrency that has scaled the heights amid the market’s downfall and shows great promise for potential investors is Binance Coin (BNB). If it sounds familiar, that is because Binance Coin is the native coin of the world’s most famous cryptocurrency exchange service, Binance. The Chinese exchange gained an incredible amount of popularity in just a few months thanks to its advantageous referral program, short downtimes, and low fees.
Binance Coin is a cryptocurrency that will run exclusively on the Ethereum Blockchain alongside other ERC-20 tokens. Since its ICO launch at the end of July 2017, Binance Coin has seen a fulminating rise in value, managing to pierce the top 20 list on CoinMarketCap. Currently, Binance Coin holds the 15th position on CoinMarketCap with a trading price of $14.75 and a market cap of $1,682,428,345. Binance Coin seems to be successfully battling the downtrend; hence, at the time of this writing, the coin has seen a rise of 2.42% in the last 24 hours.
The coin has a total supply of 200 million. One of the first things that recommend Binance Coin as being a worthy investment in 2018 is the fact that the exchange promised to buy back 50% of the total supply. As the project’s whitepaper states, the company aims to bring down the total supply from 200 million to 100 million.
With the essentials out of the way, here are some of the best reasons why Binance Coin (BNB) is the safest investment in 2018:
Quarterly coin burning
The Binance team uses 20% of its total profits to buy back its native coin. As of April 15th of this year, Binance finished burning 30 million tokens to maintain equilibrium between demand and supply. By buying back BNB and by destroying them, Binance ensures the value increase of the remaining costs.
Since Binance is already a big name, not just in China, it’s most likely that the company will get involved in various partnerships over the course of this year. The most noteworthy collaboration so far is with NEO smart economy, an interesting blockchain project from China.
The team is constantly striving to improve the platform
At the time of this writing, Binance is capable of processing somewhere around 1.4 million orders per second. This fact alone is sure to guarantee that Binance Exchange will remain one of the best exchanges of 2018, which, in turn, will mean further development. Binance is developed and maintained by a team of highly skilled individuals with lots of experience in the crypto field. One of the main priorities for the team is ensuring the support for some of the latest coins, as well as the implementation of new, efficient and user-friendly tools/features.
The team also mentioned that a Binance chain will be launched in the future, focused on the transfer and trading of blockchain assets.
Available discounts using BNB
Since Binance Coin the official crypto for the famous exchange, it’s designed to power the Binance platform, and it incorporates all of its unique features. Discounts on the platform are also possible due to the existence of BNB tokens. For example, the exchange provides its users with 50% percent discounts on trading fees if they use the BNB token.
All the fees will be lower on Binance if you use the coin for up to four years. In the first year, the discount rate will be 50%, in the second year 25%, in the third year 12.5%, and in the forth 6.75%.
Low Transaction Fees
Typical fees on crypto exchanges are usually somewhere around 0.25% or more. On the other hand, the fees on Binance are typically around the 0.10% mark. This is one of the main reasons why Binance coin holds value so well, and it’s also one of the reasons why it will continue to grow in the future.
Both the Binance Exchange and the BNB platform provide their traders and users with easy-to-use interfaces that look good on all devices. Since we always tend to go for the easiest option out there, this is yet another valid reason why investing in Binance Coin is a good idea.
The Binance cryptocurrency exchange is one of the safest exchanges in the world, with a clean record when it comes to hacks and other types of malicious cyber activities and attacks. This makes the Binance Coin one of the most secure currencies to exchange.
The Binance token can be currently traded on other exchanges such as Binance, Bancor Network, and Gate.io, as listed on CoinMarketCap. Another thing worth noting is the fact that the platform offers support for multiple languages.
Easy conversion and withdrawal process
While most exchanges have small withdrawal limits of somewhere around $2000, Binance has a withdrawal limit of about $30.000. This is another fact that will be sure to help Binance stay at the top of crypto exchanges.
Therefore, is Binance Coin (BNB) the safest crypto investment in 2018? The answer is most probably yes. Considering everything that’s been said, it’s quite clear that Binance Coin is not only a profitable long-term investment but a good short-term investment as well. Binance Coin is a good coin to hold since it’s backed up by one of the most powerful exchanges out there. For all the reasons above, Binance Coin should continue to increase in value in the following period.
Of course, you should conduct your own detailed research before investing in or buying Binance Coin.