How does #BNB differ from other platforms?
BNB tokens issued on the Ethereum blockchain were subsequently transferred to the exchange's own blockchain — Binance Chain. It was launched in April 2019. As a result, tokens were replaced from ETC-20 to BEP-2 at a one-to-one ratio. In the fall of 2020, the Binance Smart Chain blockchain network was introduced, which operates in parallel with the main network.
There are three types of BNB:
● BEP-2 standard on the Binance Chain network
● BEP-20 on Binance Smart Chain
● ERC-20 on Ethereum
Types of wallets for storing BNB
The official wallet from Binance (mobile version) is Trust Wallet. It also has a built-in browser that allows using mobile applications based on Binance Chain and working on the decentralized exchange PancakeSwap. Right in the app, there is an option to stake BNB.
Another wallet from Binance is the Binance Chain Wallet. It is available exclusively in the browser as an extension for Chrome, Firefox, and Brave. Its special feature is the Binance Bridge, which allows transferring BNB between blockchains.
Among other popular cryptocurrency wallets that support BNB, Metamask and Atomic Wallet are notable. In the first case, it is a browser and mobile wallet, and in the second — a desktop wallet. Among hardware wallets, in addition to others, BNB can be stored in Ledger and SafePal.
Where can I buy BNB
In addition to the largest cryptocurrency exchange Binance by trading volume, BNB is represented on many other centralized platforms. This includes platforms that continue to provide services for users from Russia.
For example, BNB can be purchased on OKX, Bybit, HTX, and other platforms available to Russians. In addition, the altcoin can be found in cryptocurrency exchanges that operate online. However, it is important to be careful when choosing a service for exchange, as this is a highly risky and opaque area.
Pros and cons of BNB
One of the main advantages of BNB is that it is backed by the largest cryptocurrency exchange. The value of the token indirectly depends on the company's successes, its trading volumes, and other factors. Using the altcoin allows users of the platform to save on trading fees and participate in various activities, including on Launchpad and Launchpool platforms. A drawback of the asset is its high centralization, as decentralization is valued more in the crypto community.
What are the prospects for Binance Chain and the BNB token?
The future of projects directly depends on the success of the cryptocurrency exchange Binance. If the company continues to maintain its leading position in the market, it will positively reflect on both the quotes of the BNB token and the prospects of the Binance Chain blockchain.
In my opinion, the best exchange is Binance $BNB