If Bitcoin is the superstar of the cryptocurrency world being a household name even among newbie investors, then other cryptos such as the Binance Coin or the BNB, can be considered as up-and-coming stars.
Binance Coins or the BNB, is issued by the largest cryptocurrency exchange in the world, the Binance. The BNB Coin is a crypto-currency that can be used as a transitional asset when trading money, from one crypto-currency coin to another.
Simply said: BNB Coin is the cryptocurrency of the Binance exchange platform. It is the cryptocurrency used to pay fees and trade on the Binance Exchange.
Today, the BNB has reached a market cap of over $100 billion and is seen as one of the most valuable digital currencies in the world next to Bitcoin and Ethereum.
If you're decided to trade the BNB cryptocurrency right now then you better click on the button below which will bring you to eToro's BNB trading page. Simply open an account with them if you wish to start crypto trading. Don't worry, the entire sign-up process will only take a few minutes.
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Binance started issuing Binance coins on July 25, 2017. It debuted to a lukewarm reception among crypto-currency investors but slowly gained traction until it stabilized in the world of cryptocurrency. The BNB virtual coin now represents 4.5% of the over-all crypto currency market cap.
Visualize a mountain slope and you'll get an idea of how steep of an incline the value of BNB has achieved. On the first day of 2021, BNB Coins was valued at $37. Today, the worth of BNB coin rose to more than 1,780% to a high of more than $630.
Unlike the simple concepts of the Bitcoin and other crypto-currencies, investing on BNB Coins requires an in-depth understanding of its eco-system. Changpeng Zhao, Binance Exchange CEO offered some words of advice for future BNB Coins buyers and traders. He recently tweeted “Don’t buy BNB if you haven’t spent more than 3 full days learning about it" Zhao wrote. "Its ecosystem is large and will take a while to understand. Don’t just buy it because its price has been going up,”
To get a better understanding of BNB, you can try comparing it with Bitcoin. Here's how BNB and Bitcoin differs from each other.
Yes, you can trade BNB Coins in the Binance exchange using the eToro trading platform. To start trading BNB Coins, just follow these simple steps.
You can securely store your BNB coins at these leading wallets that supports the Binance Chain:
Since its early days of being valued at $25 million to its current $100 billion market cap, the price of the BNB when looking at its chart, paints an image almost similar to an uphill trail of a mountain. Analysts see the BNB Coin to go as high as $750 in the near future. Any drop at the current price of the BNB will be already considered as a dip.
1 BNB is equivalent to
Similar to other cryptocurrencies, BNB Coins can also be used outside the Binance Exchange. Here are some of its leading uses.
BNB burning is the practice of Binance Exchange to use at least 20% of its profits to buy back Binance Coins and figuratively burns it by destroying it.
Binance performs the BNB Burning every quarter and will continue to do so until it buys back and 'burns' 100 million Binance coins—or 50% of its total 200 million cap.
BNB burning guarantees the supply of BNB coins to remain finite, thus driving it to worth more as it becomes scarcer.
No need to move a muscle. Clicking on the button below will take you to eToro's BNB trading page and if you want to try it out, you can quickly open an account.
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Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results.
Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.
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