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Review on Binance Coin by Lenon Cabrera

Revainrating 4 out of 5

It is a very interesting currency that offers a safeguard of value even if the…

It is a very interesting currency that offers a safeguard of value even if the Bitcoin goes down in price, the burning of the tokens quarterly makes it revalue the same in time, the negative is that its usability is limited and after these 5 years the Only one that could maintain the same is if the plans to make the decentralized exchange are executed.



Pros
  • Binance Coin is a currency that was created to operate on the most volume currently handled that is "Binance", one of the aspects that makes it quite attractive is its usefulness and is that, through it, you can get discounts on rates of transactions that are executed in the exchange for 5 years. In addition, this currency is almost always found in number 1 of the Exchange that have more volume. Even more interesting is that Binance is currently expanding a lot even to African countries like Uganda, which would result in many more customers that would result in many more purchases from the BNB which would undoubtedly boost its price and its adoption beyond the limits you are in right now. The cryptocurrency has a total supply of 192 million, however, they gradually perform a burning the same as to be about 100 million, this action is performed quarterly, which meet 20% of their winnings to repurchase tokens, which means that there will be less and less currency supply, which will also increase its price, since the less the supply of coins, the greater the value of the token in question. Something that must be highlighted is that the evolution of its price has always been growing, independently of the movements Bitcoin makes, which makes BNB an excellent currency that can serve as a store of value over time.
Cons
  • It does not have its own chain of blocks since it is based on the Ethereum, enjoying the benefits of the currency is only framed has only use Binance as an exchange, without being able to acquire the currency by other means, regardless of whether a person operated or it will not operate, could also provide access to the external public to enjoy its stability. Because its main yield is in China, it can be affected by the regulatory problems of the same. The discounts they now have to cover the transaction fees are limited to 5 years, so after this time the currency would have no use value to be attractive to investors.

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