Review on Binance Coin by David Olayide
Binance Coin: A Giant Token
The Binance coin also known as the BNB token is a cryptocurrency that is basically an offshoot of the well known binance exchange platform. It was originally released in 2017 and BNB is majorly used by traders on the binance platform to pay fees at discounted rates. If you want to invest in BNB tokens it is best that you understand just what it actually is.
Now even though the token is used mostly on the exchange platform, I have discovered that it is basically just like any other regular currency like the dollar or even bitcoin. Ever since it was released, the price has steadily increased and i can say it has a very good potential in the future. Binance coin is essentially an altcoin and is also built on blockchain technology. This means simply that your coins are safe and cannot be stolen of tracked.
BNB is not a bad investment at all. I mean in terms of market capitalization, it was considered eighth largest cryptocurrency in the world. Now that's still good news, right?
However, I also discovered that there is no way i can mine BNB token at all, because I tried to find a way to mine. But I discovered that you can still earn the coins i=by being a validator. That way you get to validate blocks on the binance blockchain and earn too. Sadly I've found that this option is only open to trusted members. Hopefully, this will change in time. I really hope it does.
You can find BNB on Binance as it is the native token of the Binance Exchange platform. I exchange my fiat currency of other cryptocurrencies there, for BNB. Just like other cryptocurrencies, you can store your tokens in wallets like trust wallet and others too.
Pros
- Reliable just as its exchange based platform is
- Secure
- Low liquidity cost
- Total owner control
Cons
- Needs more publicity
- Fluctuating price
