Why 2021 is the Best Time to Invest in Binance Coin (BNB)?
Is Binance Coin (BNB) a good investment?
What is Binance Coin? Brief Summary
Binance coin is a cryptocurrency launched by the Binance Exchange and trades with a symbol of BNB.BNB initially functioned as a standard ERC-20 on the Ethereum blockchain; in 2020, BNB moved on to the Binance Smart Chain.
BNB is the Binance chain’s native token. It is used to transfer values on the network along with numerous benefits and applications. Users can settle transaction fees on the Binance smart chain using BNB and purchase goods and services, and participate in token sales by using Binance coin. Binance is the biggest cryptocurrency exchange globally, and BNB was introduced to allow ease to pay for the platform services.
How Does Binance Coin (BNB) Function?
BNB is based on the Binance Smart Chain (BSC), a hard fork of the Go Ethereum protocol that is similar to the Ethereum blockchain in many ways. The BNB coin was pre-mined and distributed through the Initial Coin Offering (ICO). 200million BNB tokens were issued in 2017. The tokens in circulation are used on Binance Exchange for discounted trading.
To counter the decaying value of BNB, Binance buys back tokens and destroys them to reduce the supply flow. The exchange intends to destroy half of the tokens in circulation, To store the BNB coins, users can use the official Trust Wallet.
Best time to invest in Binance Coin (BNB)?
It is the perfect time to start investing in Binance Coin because various studies have found that Binance Coin has an enormous potential of being a massive cryptocurrency in the upcoming future and is underrated; looking at the price action of Binance Coin; it is not too difficult to find out that the Binance Coin token is undervalued.
The current price of Binance Coin while writing this blog is 34,400 rupees. The coin has had a high value since the ICO days. Currently, it is in an uptrend that had moved from a price of 20,000 to 33,000 within two weeks, which is 60% returns in a brief period.
Even after facing a massive downtrend in the significant cryptocurrency fall in May 2021, Binance Coin has been able to give its user a considerable amount of return.
Start Investing in Binance Coin (BNB)
To start trading and investing in Binance Coin and other cryptocurrencies, a reputed exchange is mandatory to have a cryptocurrency account that allows you to buy Binance Coin in India.
Crypto exchange is a broker that allows you to trade Binance Coin in India and other cryptocurrencies. Suppose you are interested in buying Binance Coin in India and getting the best pricing effortlessly and quickly. In that case, BuyUCoin Exchange is the only platform you need. It allows you to even invest in Binance Coin by using your credit card MasterCard NEFT or UPI.
Is Binance Coin (BNB) a good investment in 2021?
Binance Coin has erupted massively in the past few months and has been the talk of the town for giving returns investment; various experts believe that we change an underrated cryptocurrency that has the potential for a massive blow up in the upcoming future.
Looking at the current scenario, as more and more companies use the Binance blockchain, BNB tokens will prolifically become more popular. The Binance Coin token is expected to regain the former heights shortly; as a result, Binance Coin looks like a perfect opportunity and choices available to the investors to buy at this point.
Why invest in Binance Coin (BNB)?
Binance Coin offers numerous reasons to the users for investing in it:
- BNB token was built as an ERC-20 token on the Ethereum Blockchain. Still, now it is Binance’s native currency and runs on Binance’s Blockchain.
- BNB offers a complete package to the users as it is redeemable, trustworthy and flexible, along with minimal fees.
- BNB can handle higher transactions volumes because of its frequent block generation ability, which helps the users and merchants to receive quicker confirmation times.
- BNB uses five cryptographic algorithms to prevent malicious centralization of mining and power fluctuation of hash.
- BNB currently ranks 4th in the CoinMarketCap ratings and is only behind Bitcoin, Ethereum and USD Tether in market capitalization.
- BNB block is made every 3 seconds, which is 185 times faster when compared with Bitcoin and 4X faster than Ethereum.
- The blockchain is capable of carrying out transactions at a more accelerated pace when compared with its competitors.
Worth buying Binance Coin (BNB) in India?
The current price of Binance Coin in India is ?34,400 with a 24-hour trading volume of ?166,972,380,901 and a market cap of ?5,240,343,051,961. There are 154,533,651 BNB coins in circulation.
Binance Coin’s distinguishing characteristics
- Secure and Trustworthy: Whenever a transaction is made, the blockchain records all the necessary credentials to ensure trust, such as the date and time, receivers and senders wallet address and other essential information. All the information is only made available to the authorized user in a well-designed user interface.
- Quick Transactions: The BNB coin provides faster transaction confirmation with an improved storage efficiency than any other cryptocurrency and handles a whopping 1.4million orders per second.
- Trading Discounts: BNB offers a 50% discount on the trading fee. For instance, if you purchase $10,000 worth of coins, the trading fee levied will be $10. However, using BNB, the fee will be reduced to half, i.e., you will have to pay only $5.
- Wide acceptability: BNB offers a seamless and error-free experience on the Binance ecosystem and offers various discounts to users.
BNB can be used in various fields, including the hospitality and travel industries. You can also buy meals from BNB coins.
Binance Coin Predictions: Market Sentiment
- Wallet investor: Based on our Binance Coin price analysis and forecast, a long-term increase in the price is expected; the price prediction for 2026 is 2,167 to US dollars. Keeping money invested for five years, the revenue is expected to be +490% from the current level.
Gov. Capital
The price of Binance Coin is expected to proliferate in the future as it has been giving hints in the positive direction. According to our prediction services, the price of Binance Coin in the future is forecasted. At 1,598 dollars after several years.
Digital coin price news
Binance Coin is showing bullish signs and may create excitement among its user. The price is expected to reach 2,000 dollars by the end of 2028.
Conclusion
Binance Coin (BNB) has actual use cases and some incredible business implementations. It has the potential of growing steadily or exponentially, maybe within the next couple of years.
Suppose Binance Coin sticks to their roadmap and implement their Binance Coin toolchain platform with more enterprises and increasing their partnership. In that case, they will carry a tremendous amount of blockchain-based services, which will help them capture massive success.
You should invest in Binance Coin after understanding all the required information and then make a good decision by doing proper and correct research.
Cryptocurrencies look fascinating and have huge potential, but you should always invest in Binance Coin or any other cryptocurrency by researching properly and implementing your strategies.
Why 2021 is the best time to invest in Yearn Finance (YFI) Token?
*This article is for knowledge purposes; we advise you to ask your financial experts before taking any investment decisions. *
Why 2021 is the Best Time to Invest in Binance Coin (BNB)? was originally published in BuyUcoin Talks on Medium, where people are continuing the conversation by highlighting and responding to this story.
Text source: BuyUcoin Talks - Medium
