Review on Binance Coin by Mr Benji

Name: Binance Coin
Item: Binance Coin
Rating: 5

November 15, 2018

Binance Coin is the native cryptocurrency token of the Binance trading platform…

Binance Coin is the native cryptocurrency token of the Binance trading platform.
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Launched in 2017, the Binance digital exchange is one of most popular because of its revolutionary technology that allows them to process over 1.4 million orders per second.
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According to their website, the Binance name is derived from two names, binary and finance.
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The Binance coin (BNB) they've created is used to pay for trading fees on their platform.
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It’s an ERC20 standard coin with a maximum supply of 200 million BNB tokens.
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Talking of wallets, you'll need a wallet to store your cryptocurrencies.  Given the diverse nature of cryptocurrencies, the wallets involved vary from one cryptocurrency to another.
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BNB is an ERC 20 standard token and can be stored in any Ethereum wallet, including MyEther, Trezor, ETH Mist DAPP, Metamask and many more.
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Talking of wallets, you'll need a wallet to store your cryptocurrencies.  Given the diverse nature of cryptocurrencies, the wallets involved vary from one cryptocurrency to another.
﻿
BNB is an ERC 20 standard token and can be stored in any Ethereum wallet, including MyEther, Trezor, ETH Mist DAPP, Metamask and many more.
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Updated 5 years ago

Rating has not been changed

From lats time binance token got so much new exciting stuff like:
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- Margin trading
- Biance dex
- Binance launchpad 
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And many more all these things led to new ATH in term of price token got more utilities and people that are holding it are getting rewarded by allocations in launchpads  etc..
The CZ got so much power that every tweet is driving price ahead it's great, but be careful not to buy overpriced
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Pros

Repurchasing Plan The company’s plan is to use 20% of its profits to buy back BNB tokens. The coins that have been repurchased are then destroyed to cut the supply of coins and to increase the value of remaining coins. In the end, the company hopes to cut the number of BNB coins in circulation to 100 million. Speed Trading Fee Discount With a flat trading fee of 0.1%, Binance has attracted millions of users who prefer an exchange with low fees and high quality services. The fact that you can pay some of the trading fees using the BNB token makes Binance an even more attractive trading platform. In July, the platform announced a new tiered trading fee discount for BNB users. First year traders can expect a discount of 50% which reduces to 25% in the second year, 12.5 in the third year and 6.75% in the fourth year. These discounts drive down the cost of trading on the platform Team and Partnerships The Binance team is made of blockchain professionals with a wealth of experience in cryptocurrencies. Changpeng Zhao, the founder of Binance is the most recognizable name behind the exchange. He's a former CTO of OKcoin. Coin Burnings Binance Growth

Cons

Limited Coins Binance seems to have an innovative system of driving up the value of its BNB tokens. While destroying the coins seems like a good move, it drastically reduces the number of coins in circulation. This could prove to be harmful in the event the team wants to raise more capital as there's no provision of minting new coins. Limited Documentation¨ Delaying Rewards Poor censorship resistance As popular as Binance might be, it doesn’t seem capable of overcoming cryptocurrency censorship . The platform repeatedly experienced poor liquidity issues in China after the country started its censorship efforts on cryptocurrencies. Binance has since moved its headquarters to crypto-friendly island of Malta Exchange risks With cryptocurrency exchanges, there’s always the risk of a technical failure and Binance is not exempted from such a risk. In July the platform was unavailable for hours as it underwent a scheduled system upgrade.With cryptocurrency exchanges, there’s always the risk of a technical failure and Binance is not exempted from such a risk.