Review on Balancer by Ibrahim Sunday
Balancer, BAL review.
Newbies are often concern in whether projects are scam or not, or is it profitable or
So Balancer, $BAL is not a scam, it is like a goverment owned project, where the community has the ability to affect it anytime. I started using it since when I started trading on Binance. It has been a stable crypto I always run to when I make some
Balencer is an AMM protocol, whichllows allows pools of tokens that are locked in the smart contract (liquidity pool) to be created and also allows new funds to be added to the existing pool. Basically the kind of people that use BAL are the traders, like me. We purchase on exchanges like binance and trade it with either BAL/BTC, BAL/USDT, and so on. We simply take advantage of concentrated liquidity over a period of time and perform simple trade. The second set of people are the liquidity traders. They create new pools or add to existing pool. This is possible in lots of ways, for example, using the zapper . fi, where you connect your wallet, and confirm your transactions. You can also remove and rebalance your liquidity
Pros
- It is a very good asset to trade with on binance as it is not volatile compared to bitcoin and etherium
Cons
- Its community is still not large enough, I traded it on binance(BAL/BTC) which its volume is less than 90btc this is not a good market. Though it is rising everyday.
