- What prospects await Binance Coin
- Benefits of Binance Coin (BNB)
- How to buy Binance Coin
- Buy BNB Cryptocurrency on a centralized exchange
- Exchange USDT for BNB on Pancake Swap
- Buy BNB from a crypto broker
A competent choice of a financial instrument for investing with a wide range of features, behind which there is a huge cryptocurrency exchange economy – Binance Coin (BNB).
Binance Coin (BNB) was created by the famous Binance exchange to make trading more profitable. It allows to reduce the fees for crypto-trading exchanges, and also to receive more referral fees.
What prospects await Binance Coin
At the end of 2021, almost all cryptocurrencies are going through a correction phase in the cryptocurrency market. Consequently, their rise has stopped. The superiority of in-exchange currencies lies in the dependence of value on trading volumes.
Analysts predict that the value of BNB may exceed $700 before the middle of 2022. Moreover, there are prerequisites for this.
The fame enveloped Binance very quickly – in less than six months. The coin managed to overtake the major players in the crypto market and take one of the leading positions, also going down in history as the first trading platform to launch its own internal cryptocurrency.
Changpeng Zhao, its founder, bought bitcoins at $600 by selling his house and investing everything in it. As a result, the price dropped to $200. But he didn’t panic, he waited patiently. His patience led to him making the cover of Forbes just four years later as the third on the list of billionaires to get rich because of cryptocurrency.
By 2021, Binance is already an entire empire that has a venture capital division, a charity company, an educational platform, a center for research and a platform for IEO launches. Average trading turnover in 2021 crossed the $80 billion mark a day.
BNB has shown by its history that it does not depend on the bitcoin trend and can give rise even during the decline of the first cryptocurrency.
Benefits of Binance Coin (BNB)
- It can be used to pay for goods and services, part of the trading commissions;
- The ability to exchange into fiat, store in separate wallets, go for a new platform;
- Trade as altcoin;
- Use in other platforms;
- Quarterly coin burn.
The initial issuance was in the amount of 200 million. But the company has chosen a forward-looking strategy: every quarter, buying back a portion worth 20 percent of its profits from circulation and burning them. This will continue until a total of 100 million coins is left. Not only does this fight inflation, but it also gives an extra reason to grow.
- 50% into circulation;
- 40% stock exchange reserve;
- 10% sold to the first investors.
It is impossible to mine this currency. You can only buy it. At the moment, it is traded not only on its platform, but also on almost every cryptocurrency exchange. The starting price was only 10 cents.
How to buy Binance Coin
There are different ways to buy BNB. Let us consider them in detail:
- With a bank transfer you can buy BNB on a centralized exchange. Coins can then be used directly to trade through the exchange.
- Exchange USDT to BNB on Pancake Swap.
- Buy BNB in an instant swap exchange.
- Buy BNB from a cryptocurrency broker.
The method of purchase will depend on the needs and capabilities of the market participant. In any case, it should be a proven platform, exchange or crypto-broker.
Buy BNB from a cryptocurrency broker
A cryptocurrency broker is an intermediary that helps to optimize the trading process and will accompany the trader during all the stages of trading, will help a beginner to get oriented in the world of cryptocurrencies. On the other hand, finding a good broker is not so easy. It should be reliable, have a good reputation and offer optimal transaction fees. The list of such cryptocurrency brokers includes not only the brokers themselves, but also the instant swap exchanges. In addition to the favorable rate, the broker offers analytical and statistical data for customers, which allows you to analyze before you buy BNB. To open an account with a broker, you need to make a deposit, its size differs depending on the service.
In any case, no matter how reliable an exchange or crypto-broker is, it will be safer to create your own BNB wallet to store your Binance Coin. Here is an user-friendly BNB wallet with a simple and clear interface. Wallet registration will not take you much time and will be intuitive.
In addition to online wallets you can use cold (hardware) wallets. Some of the best known cold wallets are Trezor, Ledger Nano S. Cold wallets are the best in terms of security, but quite inconvenient in daily use.
There are also many other types of storage for Binance Coin, such as mobile wallets like Trust Wallet, or the MetaMask browser wallet.
Buy BNB cryptocurrency on a centralized exchange
Centralized exchanges are managed by a certain organization, which controls all transactions, provides security. Binance belongs to such exchanges.
You can buy any cryptocurrency, including Binance Coin, on a centralized exchange. It can be done in different ways, which differ in the number of steps, commissions, and speed. The purchase process may include steps such as:
- registration, as well as verification;
- purchase through a conversion tool, which must be available on the exchange;
- withdrawal of currency to a purse or card, and the commission may be different.
Thanks to a clear interface, new technologies and high security, it is easy and profitable to buy on Binance. According to the analysis of experts, the most reliable among the crypto exchanges:
- Huobi Global;
- FTX and others.
USDT to BNB exchange at Pancake Swap
Pancakeswap is a decentralized exchange that runs on the Binance Smart Chain platform. The main feature is that the exchange does not assume the exchange with certain users, but directly with the pool of liquidity. In other words, you can exchange USDT to BNB instantly, without making an order.
It is also important to remember that there must be one network for exchange. For example, making an exchange from Binance Smart Chain to Ethereum and the other way around is simply impossible.
Pancakeswap does not require any registration, you only need to link your wallet to the exchange, and authorization will be done automatically. To exchange USDT to BNB you need to select the “Swap” button, then the currency in your wallet and the coins you want to exchange it for. If there will be enough money on the balance, the exchange will happen instantly.
At the time of writing this article, BNB is in the TOP of all global cryptocurrencies at #5 (according to Coinmarketcap):
- Value – $298
- Daily volume – $1.7 billion
- Market capitalization – $48.7 billion
Unlike the usual cryptocurrency, the prospect of acquiring just such a currency is much more. Because behind it there is not just an imprecise possibility of implementation in the distant future, but the specific economics of the exchange itself. The cryptocurrency market is still in its developmental stage. And its turnover will only grow. As it grows, the growth of the currency itself associated with that economy is inevitable. If you are looking for a mid- to long-term investment coin that will steadily grow in value, Binance Coin is one such example.
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