Review on Binance Coin by monte odes
Binance coin is maybe one of the few cryptos that has an actual use case…
Binance coin is maybe one of the few cryptos that has an actual use case. Most are just ideas and are being developed for the future. Binance though is up and running and the CZ the creator and leader is leading the way in showing the world how much demand for crypto there is. The binance coin is used for fees on the binance exchange. If the user holds binance coin then they are able to use their coins to lessen the fees encountered when trading. The amount that is saved when trading by using the coin is a very good percentage. The exchange has grown to be one of the top exchanges in the space. They have had so much success that they are even creating incubator programs. This will allow for binance to help develop future projects in the space. Binance also leads the space in furthing decentralization. They have even moved to malta. The move showed how some countries are welcoming of the decentralization and want to be a part of the space be cause they see the benefits of having these companies in their country. Another benifit of using the exchange is that identiy is allowed to stay anonymous under a certain amount of money being withdrawed. They also provide liquidity to their exchange and that goes for their pairs to the bnb coin as well. The negatives to the bnb coin is it is solely attacked to the exchanges productivity and use. If for some reason The exchange is no longer one of the top used exchanges then the value and the use of the bnb coin will be diminished greatly. CZ though has made it clear that they will be creating a dex as well. This is important for the future of bnb. Dex will be the exchanges preferred in the future in my opinion and binance is being very smart realizing that and making plans so they stay at top of the crypto space.
Pros
- has a use case. enormous funding, and money flow.
Cons
- dont have a decentralized dex yet
