Review on Binance Coin by Pedro O. Alvino M.
very functional in binance
Binance Coin (BNB) is Binance's native currency, the world's largest cryptocurrency exchange by volume of operations, as is the Binance Chain native cryptocurrency.
Its extensive functions in binance made the currency obtain great value in the market thus being in the top of cryptocurrencies in the market, given it serves as payment, since it is being accepted in multiple parts of the world.
By moving from the Ethereum Chain to its own chain as is the binance chain, giving it more firmness as the native currency of the Binance Exchange.
Pros
- Native currency of the renowned binance exchange
- It can be spent physically and digitally in some stores in different parts of the world.
- Unlock discounts on large volume operations in the binance exchange
- It gives Binance users a 25% discount when they use it to pay transaction fees
- It is used to pay the network gas rates
- Available in several high liquidity exchanges
Cons
- Like any digital currency, its price is very volatile, in addition that its price can also be affected to any situation that happens to the binance exchange
- Being outside the binance ecosystem, the currency is no longer useful.
- It could be limited by the regulations of the Chinese authorities, which are very rigid.
