Binance Coin (BNB) Crypto Review: The Traders Coin

Binance Coin (BNB) Crypto Review: The Traders Coin
Binance Coin (BNB) Crypto Review: The Traders Coin

Binance (BNB) is quickly becoming one of the most popular crypto exchange platforms, and BNB is the cryptocurrency that you can use on the Binance platform which offers traders discounts when holding the BNB coins on the Binance exchange. Binance is increasing in popularity due to listing sought-after cryptocurrencies such as IOTA and Raiden.

I will be reviewing BNB as a crypto investment and will cover four key areas that I look for before investing in crypto projects.

The four highlights of the Token review will include:

* BNB- Introduction
*The Team- Who is behind the coin?
*Marketing- Do they market the coin well?
* Investment Analysis- Is this a profitable investment?

Binance Coin (BNB) Crypto Review: Introduction

Binance is among the top cryptocurrency exchanges in the crypto world it has all of the main features investors like to see in an exchange such as support for trading pairs with all of the significant coins (BTC, ETH, LTC, NEO), multiple languages, multiple device platforms, simple user interface.However, Binance does not provide fiat (e.g., US dollars). Instead, they focus solely on crypto-to-crypto trading.

The Binance Platform issued its own ERC-20 token BNB that runs on the Ethereum network. BNB provides traders with a 0.50% discount on trading fees when using the exchange for the first year and offers substantial discounts yearly for a total period of four years. Binance uses 20% of its profits to buy back and destroy BNB tokens each quarter until a total of 100 million tokens are burned. Investors could see a rise in the token valuation as the token supply dwindles and becomes more scarce.

The Binance coin has a current market cap valued at USD 204,334,202 and a circulating supply of 99,014,000 BNB tokens with a total fixed supply of 199,013,968 tokens.

The best place to purchase and store BNB tokens is on the Binance exchange itself since it allows traders to receive 0.50% discount when trading cryptocurrency pairs such as Bitcoin to Ethereum, etc.

Binance Coin (BNB) Token Review: The Team

The CEO of Binance is Changpeng Zhao he has been active in the crypto space for many years he is also the founder of BijiTech and co-founder of OKCoin a famous Bitcoin Exchange. Other notable figures include the chief marketing officer Yi He, a top cryptocurrency advisor in China and also co-founder of the OKCoin exchange.

The team has a very close relationship with NEO the popular crypto blockchain, and users of the Binance exchange can withdraw NEO and Gas for free without having to pay any extra fees, unlike other crypto exchanges.

Binance Coin (BNB) Exchange Review: Marketing Strategy

The Binance exchange markets itself quite well, in turn, helping promote its token. Binance often holds contests for top traders of specific altcoins. Binance has a large following on social media sites such as Facebook and Twitter.

The token pretty much markets itself and appeals to investors and traders primarily because of the discounts it offers and the increasing scarcity of the token.

Binance Coin (BNB) Cryptocurrency Review: Investment Analysis

The Binance coin has a utility case, and it indeed provides the incentive for investors and traders to hold the coin. However, I believe it only stands to benefit frequent users of the Binance platform. Furthermore, due to the burn rate in each quarter, I think the tokens will increase in value but not as quickly as other crypto investments could. A good possible strategy to follow might be to hold a couple of tokens on the exchange to reduce your trading fees.

(As always please do your research before investing in crypto projects this review is my own opinion and is not meant to be taken as investment advice.)

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