The Binance Coin(BNB): A promising Cryptocurrency of the Future

Cryptocurrencies gained most of its popularity all over the world around 2017 after we witnessed the cryptocurrency boom in Bitcoins and alt coins in general, even though they’ve been in existence since 2009. Ever since we witnessed the cryptocurrency boom, new investors all over the world have been trying to find ways to invest in the cryptocurrency market in general for massive returns on their investment. This could be from purchasing ICO’s (Initial Coin Offering), tokens or finding cheap alt coins already in the crypto market that will appreciate in the nearest future. However before purchasing an ICO or token, its best to dot your I’s and cross your T’s as there’s no certain guarantee for the success of purchasing any ICO or token. You have to consider what problem the coin is solving, its recognition, its degree of usage or demand, the team or company behind the coin, its circulating supply etc.

Well if you fall into the category of new investors trying to milk the cow out of cryptocurrencies for the next boom, I present to you the Binance coin. The Binance coin originated from the Binance cryptocurrency exchange broker, a Chinese firm that provides a platform for exchange and margin trading of cryptocurrencies for investors. As we speak the Binance company happens to be one of the largest cryptocurrency exchange and trading firm in the crypto industry with clients all over the world.

After establishing itself as one of the largest cryptocurrency exchange broker and offering a top-notch trading platform for retail trading, the Binance Company successfully launched its own crypto-currency coin into the coin market called the Binance coin. The acronym abbreviation for the Binance coin is ‘BNB’, so in-case you stumble upon it in the coin market, have it in mind you are dealing with the Binance coin. The coin operates on the Etherum block chain with ERC 20 standard with a maximum circulating supply of 200 million on the coin market cap.

BNB coin was specifically created to catalyze exchange and trading operations on the ecosphere of the Binance exchange platform. These operations comprise of all transaction fees ranging from exchange fees, trading fees and listing fees. In the first year of launching the coin, there was fifty percent discount for all trading operations using the Binance coin. Every half of a year, the company continues to increase discounts on transactions using the coin making it bearable for clients using their platform for exchange and trading.

The Binance coin provides some certain advantages for its usage and acquisition which makes me believe personally it has a promising future for an appreciation in value. For example the BNB coin can be used in investing in ICO’s that are listed on the Binance Launchpad program. Apart from using the BNB in investing in ICO’s, new cryptocurrencies will always be listed on the Binance exchange and these alone will inevitably provide a seamless marketplace for transactions using the BNB to exchange for other coins.

Another reason the BNB token has the potential to appreciate in value is its partnership with Uplive, an Asian live video streaming company which sells virtual gifts for BNB tokens. The Uplive firm has a strong user base of 20 million clients, with these impressive number, you are rest assured of the coins circulation and usage. Another company that makes use of the BNB coin on its platform and mobile app is the VISA debit card of Monaco.

But the most promising feature that shows the BNB token has a high degree of potential  appreciation in its value is a strategic approach the Binance exchange company has on its own tokens. This involves the repurchasing of its own token using the twenty percent profits generated from the coin, burning or destroying it, which automatically reduces its circulating supply in the coin market. The company intends to burn/destroy a total of 50 percent (100 million) from its available 200 million tokens. Doing this will reduce the circulating supply of the token from 200 million to 100 million tokens which is a brilliant strategy in making the coins appreciate in value. In the crypto market, the lower the circulating supply of a cryptocurrency and the higher the demand of the crypto-currency, the more the cryptocurrency will appreciate in value.

So if you are an investor and looking for a promising opportunity to invest in a coin, then BNB token is the best I will recommend for you!