Essential Guide for Beginners 🚀
Learning and Sharing 👊
Since you are on Binance, you need to understand the most important currency of the platform: the $BNB (Binance Coin).
Many think that the $BNB only serves to give a discount on trading fees. WRONG! Its value lies in its "Utility" (practical use):
1. 🔥 The Deflationary Factor (Burn): Binance uses part of its profits to "burn" (destroy) a quantity of $Bnb every quarter. This reduces the supply of coins in the market, which theoretically increases the value of the remaining coins.
2. 🚀 Access to Launchpad/Launchpool: Want access to the hottest new crypto projects before they are listed on the market? You NEED to have
$Bnb locked (staked). This is the biggest driver of demand for the coin.
3. ⛽ Gas Fees on the BNB Chain: The ecosystem of the BNB Chain (Binance's blockchain) is huge. To make transactions on this network, you need to pay fees in $BNB. The more the network is used, the more value the coin gains.
Strategy: If you use Binance a lot for trading or Launchpad, $Bnb is a key asset. Don't just see it as a discount, but rather as a key to access and utility.
Do you use the $BNB for something beyond the discount on fees? Comment! 👇
