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What is a Binance coin?
The Binance Coin (BNB) is a cryptocurrency that can be used to trade and pay fees on the Binance Cryptocurrency Exchange. The Binance Exchange is the world’s largest exchange for cryptocurrencies, handling more than 1.4 million transactions every second.
As a bonus, users of Binance Coin get a discount on transaction fees on the Binance Exchange. It is also possible to trade or swap BNB for other cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, etc.
In July 2017, before it became the native currency of Binance’s own blockchain, the Binance Chain, Binance Coin was created and initially run on the Ethereum blockchain with the token ERC-20.
Investing in Bitcoin or other cryptocurrencies can be daunting at first. News about fraud and money-losing individuals is routinely available. Though this is true, and many scams have occurred and continue to occur, it has never been so easy to invest in cryptocurrencies. Trading in Crypto is really simple and lets people earn a decent amount of money. But a person who invests in cryptography should have knowledge of everything about it. It is also a secure and healthy way to earn cash.
In 2018, cryptocurrencies performed debatably, but they will continue to attract fresh investors in 2020. However, most beginners find it challenging to find the correct cryptocurrency for investing in 2020. There were plenty of us there, so don’t worry! I understand how frustrating it is when you first start looking for new cryptocurrency investments. So, are you really looking for an investment in 2020 in the next cryptocurrency? There are many crypto exchange software available that will guide you from the beginning.
Trending Cryptocurrencies
Binance coin
Binance coin is considered one of the best coin which can be used for many purposes. It is not much expensive. The market price of the Binance coin is $43.94. it can be easily purchased by everyone. Researches say that it will more grow in 2021. So everyone who thinks they can invest in Binance coin. So don’t think more about it, invest as much as they can, maybe it will take them to the next level.
Bitcoin
If you have heard of only one cryptocurrency, it’s probably Bitcoin, somehow. It is the largest cryptocurrency; it currently has a 40 percent share of the total cryptocurrency market cap! It is the market’s oldest digital currency and it still dominates. So, if Bitcoin continues to grow, as it did in 2017, investing in Bitcoin might be a good idea for 2020.
Ethereum
Ethereum is considered one of the best cryptocurrencies to invest in after bitcoin. It also gives you a lot of profit, and investing is easy. As opposed to bitcoin, this implies that the price of ethereum is very low. So it is possible for anyone to invest in ethereum. The Ethereum’s price was marginally higher than $720 at the end of last year, with a total market cap of about $70 billion.
Ripple
Ripple, also known as XRP, was a prime contender for the title of the best cryptocurrency in 2017 with a rise of about 36,000 percent! Yeah, you read that right. If you think you made a mistake just because you didn’t invest in Ripple, don’t worry. It is also time to invest in Ripple and you can get a decent return after some years. All should invest in ripple since as opposed to ethereum and bitcoin, the price is very low. It is the market’s third-largest cryptocurrency.
Bitcoin cash
It is another cryptocurrency in which, in a very short period of time, individuals have to invest to earn a decent amount of money. You see, of all the best cryptocurrency options on this list, BCH has had one of the most interesting initiation tales. As a result of a hard Bitcoin fork, it was created
Uses of Binance coin and why it is considered as the hottest thing in digital currency.
The Binance Coin offers several uses, just like other emerging cryptocurrencies that go beyond the Binance exchange, such as
Trading purpose:
Binance coin is a very hottest coin which can be used for many purposes, trading is one the best purpose in which this coin can be traded for other cryptocurrencies on various exchanges, but it can be applied to some exchanges because every exchange has its own rules and regulations. Due to this reason, many exchanges have many restrictions.
Binance Exchange transaction fees:
BNB can be used to pay for Binance Exchange transactions, and users get a discount for doing so as well.
Payments via credit card:
BNB can be the mode of payment on Crypto.com for crypto credit card bills.
Payment processing:
As a form of payment for consumers, retailers may offer BNB, providing more flexibility in payment methods.
Can be applied on travel purpose:
Binance coin can also be used for travel purposes. It can be used to book hotels whenever you go on a trip you can easily access it and also you can book flights by this coin.
Entertainment purpose:
BNB serves many roles in the entertainment room, from paying for virtual gifts to purchasing lottery tickets.
Investment purpose:
Some platforms allow investors to use Binance Coin to invest in stocks, ETFs, and other properties.
Loans and transfers:
BNB can be used for loans on such networks as collateral. There are also apps that allow users via Binance Coin Coin to break bills and pay friends and family.