BNB Coin – The powerful token of Binance
BNB (Binance Coin) is a well-known and reliable coin in the world of cryptocurrency, which is the native token of the Binance exchange. Its association with the largest crypto exchange in the world provides it with a strong foundation.
History of BNB Coin
BNB was launched in 2017, initially as an ERC-20 token on the Ethereum blockchain. Later, Binance created its own blockchain 'Binance Chain' and then 'Binance Smart Chain (BSC)', to which BNB migrated. The primary purpose of BNB was to make fee payments on the Binance platform cheaper and easier, but over time its usage has expanded.
Use Case of BNB
The utility of BNB is seen in several sectors:
Trading Fee Discount: Discount on trading fees on Binance.
Transaction Fees: Payment of transaction fees on Binance Smart Chain.
Token Sales: Using BNB to purchase new coins on Binance Launchpad.
Online Payments: Some apps and websites accept BNB as payment.
DeFi & NFTs: Various DeFi projects and NFT platforms on BSC support BNB.
Why invest in BNB?
Strong Foundation: Binance is the largest exchange in the world, making BNB's value increase.
Token Burning: Binance periodically 'burns' some portion of BNB, reducing supply and increasing price.
Widespread Usage: Trading, launchpad, fees, DeFi – BNB is used everywhere.
Strong Growth: BNB started its journey in 2017 at $0.10 and reached an all-time high (ATH) of $690 in 2021.
How much to hold and when to sell?
Short-Term Investment (2-3 months):
If you are a short-term investor, a 50% profit is possible within 2-3 months in a positive market situation, especially when Binance launches new projects or there is hype in the market.
Long-Term Investment (4-6 months):
If you hold BNB for 4 to 6 months, you can earn a safe and stable profit of up to 30%, especially if you buy on dips.
Conclusion
BNB is a stable, widely used token associated with a major exchange that is suitable not only for investment but also for use in DeFi, NFTs, and crypto payments. If you want to invest in a safe and practical crypto project, BNB may be an excellent choice.
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