The cryptocurrency market is gaining more attention by the day because more people are now seeking to become crypto market traders. With top cryptocurrencies like Bitcoin, Ethereum and Binance coin, I think crypto is here to stay.
Amongst others, Binance coin has been on the watch for most investors who seek greater future rewards because of the great potentials in it.
Hence, what are those metrics traders must look out for before buying Binance coin amongst others.
Therefore, Let us start by taking a brief look of what BNB is all about.
Table of Contents
What is Binance Coin (BNB):
Binance coin is owned by the famous Binance cryptocurrency exchange which operates the biggest Bitcoin exchange and altcoin crypto exchange in the world by trading volume.
It powers the Binance ecosystems as one of the most popular utility tokens, which allows users to buy and sell crypto at their own convenience.
It is acceptable for payment of goods and services, hence representing fiat money in the digital space.
Binance coin is owned by Binance which was founded by Changpeng Zhao in 2017.
He is a Chinese born crypto genius who also occupies the position as the CEO of Binance.
CZ launched the company in July 2017, following a $15 million funding raised during an initial coin offering.
Report shows that In less than eight months, Zhao grew Binance into the world’s largest cryptocurrency exchange by trading volume, as of April 2018.
Therefore, let us further consider 12 top reasons anyone should buy Binance coin (BNB) today as a way of investing for the future.
12 Major Reasons You Should Consider Buying Binance Coin (BNB):
1. Binance Coin Is Owned By The Most Traded Crypto Exchange:
There are many cryptocurrencies today, but only few crypto coins own an exchange.
Hence, if you need to buy crypto for the long term, then Binance coin is a good choice.
This is because, aside from being a coin in the crypto market, it belongs to a reliable crypto exchange.
Hence, owners of the Binance coin will have no need to bother about the most trusted wallet to store and trade their coins.
2. Binance Coin Sits In The Top 5 Most Valuable Cryptocurrencies By Market Cap:
This same coin has succeeded in sitting in the first five most valuable cryptocurrency in the world by market cap.
In spite of various crypto crashes, it still retains it’s position and remain valuable to traders.
Bitcoin and Ethereum leading the way as the first and second most valuable crypto respectively, Binance coin has been doing well in sitting at the third spot of the coin market cap table of world cryptocurrencies.
3. It Is Still Affordable For Investors, Unlike Bitcoin And Ethereum:
Unlike Bitcoin and Ethereum, Binance coin is still very affordable which makes it a good investment for long term crypto holders.
If you must get a Bitcoin or Ethereum now it’ll cost you thousands of dollars.
However, Binance coin is still not yet a $1000 dollar as of the time of publishing this article.
Hence, I hope you read this article on time so you can make the most of the crypto market.
Well, Binance coin will surely sky rocket to thousands of dollars in a few years to come.
It will happen in 2022, 2023 0r 2025, however, it is sure to happen soon in the future.
Therefore, don’t miss out.
4. It Has A Considerably Low Supply:
Just like Bitcoin, Ethereum and other major leading crypto, it has a very low market supply.
Currently, according to coin market cap, it has a circulating supply of 166,801,148 BNB coins and a maximum supply of 166,801,148 BNB coins.
This makes it a top choice for all crypto traders.
Cryptocurrencies with low supplies always pose more potential than others.
5. It Has An Equal Number Of Circulating And Maximum Supply:
What does this mean to crypto traders?
Cryptocurrencies with equal number of circulating and maximum supplies are hot cake in the market.
This shows that what is on use is equal to what can ever be supplied.
Such crypto currencies are usually scarce and holds high value before traders.
This is also a direct potential that it will soon boom up in market price per coin and market cap.
6. Binance Coin Often Burns More Of His Cryptocurrency In A Bid To Gain More Value.
The founder of Binance Changpeng Zhao is in a bid to burn more Binance coin as a way of strengthening the cryptocurrency.
He has started doing this already and there are evidence of major progress in his formal burn’s where he burned Binance coins worth millions of dollars.
This is rare to find and as such a pointer for investors to take their place before Binance becomes too expensive for them to invest in.
7. It Is Listed On Top Crypto Exchanges In The World:
Aside owing its own crypto exchange, it’s also listed on top crypto exchanges in the world.
This makes it unique and tradable on other major crypto platforms.
It is tradable on platforms like Huobi Global, Coin tiger, Gate.io, FTX, KuCoin exchange, Mandala exchange and many more.
This adds flexibility to the coin and makes it easier to work with.
8. It’s Market Cap Shows Potential Future Profits:
With a potential market cap of over $50 billion per coin, it has a long way to go.
This means the coin holds potential future market cap to reach a trillion dollar market cap in the future.
Hence, imagine those who took the opportunity when it was less than $1B market cap.
This clearly shows that early action takers are always the price winners.
9. It Has A High Crypto Liquidity:
Crypto liquidity is simply the ability to move crypto, swap crypto, sell and buy cryptocurrencies without difficulties in the market.
The presence of Binance coin on major crypto exchanges makes it possible to always carry out transactions without glitches.
This generally increases its trust ratio in the market.
10. There Are Cheap Transaction Fees On Binance Smart Chain Network Unlike Ethereum And Bitcoin:
Transactions on Binance smart chain networks are incredibly cheap when compared to those on Ethereum and Bitcoin network.
This allows traders keep more profits when buying and selling off cryptocurrencies to take profits.
Everyone loves to pay less and get more, hence their is a massive shift from other networks to the Binance smart chain network where the Binance coin also operates.
11. Increased Transactions Speed On The BSC Network:
Since there are no much confirmations on BSC network, it makes it completely faster than other networks.
Everything is done and approved by the built-in BSC technology.
Speed is a top notch criteria for business, hence traders find it more beneficial to carry out transactions on the BSC network.
This has boosted the fame of the BSC network and also promoted Binance coin.
12. Don’t Be Left Out, Buy At A Low Price To Allow You Sell And Make Profits When Price Goes Up:
The ride is already on and smart investors and traders are already taking advantage of it.
Hence, to avoid being left out of the race, getting a little BNB wouldn’t be a bad idea.
Buying cryptocurrencies when they are cheap and selling at a high price is so rewarding.
Especially for traders who had the capacity to buy enough when price was still low.
Also, since crypto allows for rations, anyone can buy any amount they wish to get and be a part of the crypto world.
Also Read: 20 Free Finance Advice For 2022 And Beyond.
What is your take on cryptocurrencies? Do you see it as a new generation money for the digital world?
If you had the opportunity to buy cryptocurrencies today which will not be Bitcoin or Ethereum, will you choose Binance coin?
We know the entire crypto market is already a multi-trillion dollar market, what do you think the price of one Bitcoin, Ethereum and Binance coin will be in the coming future?
Share your contributions with me at the comment section below.
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