Binance Coin

Binance Coin (BNB)

https://www.binance.com/

Confidence: 83%

83%

Binance Coin (BNB) - Reviews & Ratings



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avatar dennis 34 rated: April 12, 2019 05:31:44

Binance coin is a utility token for one of the largest, most reputable cryptocurrency exchanges in the world. Traders purchase Binance coin to pay fees on trades so the price of this coin usually moves upwards when volume increases. 


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avatar Luke B 19 rated: March 23, 2019 06:43:23

They are the biggest exchange and brand in the crypto space in my eyes! had some shady press lately but thats just ruthless business for you! 

their coin should do very well if they carry on to be as successful as they have been throughout their time in the space :)


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avatar Jeff Kirdeikis 16 rated: March 22, 2019 23:34:50

Binance is obviously the monolithic force to be reckoned with in crypto. However, Binance has recently been caught extorting information from other projects through leveraging their position as the leading exchange. They are very "legit" but have some less-than-ethical business practices. 


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avatar Martin k 18 rated: March 22, 2019 22:43:19

It's binance, pretty legit as they are one of the biggest exchanges, I'm hoping they create some real utility for this coin as it seems to be for collecting dust and using as a trading pair... Not the most compelling


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avatar Crypto Chick 50 rated: March 11, 2019 09:28:10

Love my BNB which is making me very happy recently :). CZ is amazing (sorry for fangirling) but he is saving and improving the crypto world with his leadership and Binance programs that aim to help out other crypto projects. Binance is the only exchange I use recently and BNB is great for lowering fees!


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avatar Fiat Daily 107 rated: March 07, 2019 07:40:28

Apparently one of the best performing coins despite bear market conditions, and against bitcoin it is even making new all time highs since its inception. Technically it is still an ERC20 token used for the fundraise to fund the launch of binance exchange, but they are planning their own native chain as well. It is a utility token that can be used for the following aspects: 


  • 25% discount on trading fees if paid in BNB (used to be 50%)
  • one of the base currencies in the available trading pairs.
Demand for the token is very dependent on the demand for services that the Binance company (such as the exchange for paying trading fees). There is a token burn program to make the supply smaller, but this effect will be lesser over time.

Just to summarize the reasons for higher demand, specifically recently:

  • BNB is required for participating in Launchpad which is the new form of ICOs. This could generate a lot of hype, perhaps comparable to what happened to ETH when the ICO hype in 2017 was happening
  • BNB will be main trading pair coin on Binance DEX
  • Binance is encouraging ERC20 projects to switch to Binance Chain (which although maybe not illegal to do, it certainly is not clean business either, so this is part of the slightly shady score)
  • More Binance coin (500) in your account gives right to higher referral fee.
  • As said already: trade fee discount with BNB. 
On internet there is a significant amount of people that accuse Binance of shady practices. I did not look into that, but you might wanna take that into further investigation. For the extra caution required, has added to the slightly shady score too.

If epic hype pumps up the price of BNB to astronomical heights, which it already did, please be careful, because demand that is based on primarily hype has a very high chance of eventually being corrected by the market. As of right now I do think that mid term there is still room for growth and in the next bull market it is probably going to outperform many other coins, but I think it wouldn't hurt to secure some profits (if any) from time to time on the way up.



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Market information:

Symbol:BNB
Price (USD):$ 28.20
Market Cap (USD):$ 3,171,025,404.37
24h Volume:$ 186,940,536.25

General information:


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