Review on Binance Coin by Olgay Neke
BNB: Meteoric Rise of Utility Token
Binance Coin (BNB) was created in 2017 by Binance, and it is a utility token for discounts used in trading fees. After becoming the native coin of the Binance Chain blockchain, it is accepted initially as an ERC20 token. When we look at the use of the currency, it is very different from most of the other coins. It can be used to pay for transportation expenses like hotel and flight bookings, to buy virtual gifts, to shop using a credit card, and more. I think this coin has a future for utility use, and it is a must to hold if you are using Binance Exchange for your trades.
Pros
- Discount on trades within the exchange
- Discount on withdrawals
- ERC20 token
- High wallet compatibility
- High transaction volume
- High demand
Cons
- Not available in some locations
- Risky to invest (dependant on Binance exchange)
