Review on Binance Coin by Jeff Ayuba

Name: Binance Coin
Item: Binance Coin
Rating: 4

January 05, 2021

Binance Coin is a sure bet for it's utility on Binance

B﻿inance coin BNB is just like any other cryptocurrencies except that it comes with many utilities not just within its parent exchange, Binance exchange but even out of it on it's whole blockchain network. I started using BNB whenever I make use of Binance for my trading needs in which BNB can be used to cut this trade fees. Many exchanges end the utility of their native coins to just cutting trades fee but Binance Coin just like I said, takes theirs a bit furthermore by improving on it's very use case on the exchange by allowing me stake my coins on it's launchpool and farm new tokens. The coin cannot be mined but using it by staking to farm other coins which may at the day's end, turn out to be very valuable makes BNB my must have on Binance. Other than these use cases it offers, it also allows for VIP benefits and perks.
I like Binance Coin because many things are being put in place for the coin in terms of value. The recent one involves it's completion of it's Binance Smart Chain that allows other tokens created on it's Chain. With Binance chain using EVM, Binance Coin can be held on any Ethereum token supporting wallet increasing it's versatile nature despite leaving Ethereum as it's supporting blockchain. The cost of making transactions using BNB is also low and I prefer mostly the fact that the coin can be traded on a variety of major exchanges aside Binance itself. Binance Coin as a project is reliable and it's utility superceded that of many other exchange tokens. It's a sure bet for investors and entities in making transactions. I recommend this coin for it's utility but it seems the coin might still loose value especially on it's parent exchange. The reason I say this is because Binance keeps cutting the trade fee discount users can pay using BNB. This doesn't make BNB viable in the longer term but hopefully, that can be reversed.
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Pros

Binance Coin is the main token of the Binance smart chain and it's low fees makes it viable for use in terms of cost
The BNB coin can be used both in and out of Binance exchange for trading fee discounts and achieving VIP level benefits
BNB coin can be staked to earn from Binance launchpool so it's utility is very diverse
With BNB built on Binance Chain which uses Ethereum Virtual Machine for it's blockchain, the coin can be held on any ERC supporting wallet

Cons