Header banner
Revain logoHome Page
John Samuel photo
Lagos
1 Level
49 Review
14.5 Karma

Review on Binance Coin by John Samuel

Revainrating 2 out of 5

The major problem of trading with binance coin

Binance Coin- a cryptocurrency issued by Binance exchange, is all the rage these days. With its main use as a utility token for discounted trading fees, payment for transaction fees on Binance.com and the likes, it has been truly helpful to me running a Crypto business, BUT all good things definitely have their bad side. Most people already know about the benefits of BNB, but like every good thing that has a bad side, BNB is not exempted.

Regulators around the world want to take Binance Coin- down

For many years now, regulator's attempt to eliminate BNB will finally come to pass, as there has been complains that BNB operatesas an unlicensed digital asset business.

Binance is very vulnerable to Cyber attacks

Many hackers have set their sights on BNB, and although BNB has tightened security, investors are not as willing because the risks of Cyber attacks are high

There is heavy competition with other efficient Contract cryptos.

Although BNB is an efficient cryptocurrency, there are other Contract cryptos that are overall better than BNB, in terms of security, price, and so on.



Also the price was not favourable for me,unlike bitcoin.

Pros
  • It is used for payment of transaction fees.
Cons
  • •It is vulnerable to cyber attacks • Regulators around the world want to take Binance coin down.

Comments (1)

Please, sign in to write a comment
August 27, 2021
Excuse me but some things are not correct. A coin/token itself is not vulnerable nor invulnerable to cyber attacks. Instead, exchanges, pools and wallets are. Also, this is the first time I hear that BNB had those big security problems with hackers. Maybe you have privileged information. The idea that "regulators around the world want to take Binance Coin down" -in fact they want to make all crypto ilegal, not just BNB- does not make Binance Coin worse. This contextual situation has nothing to do with the coin itself. I'm sorry to say that but this may not the best review posted on Revain.

Similar reviews