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There Are 6 Important Reasons Why We Must Choose Binance Coin

Written By Hanny & Melissa on Saturday, March 16, 2019 | Saturday, March 16, 2019

https://www.economicfinancialpoliticalandhealth.com/2019/03/in-time-of-crypto-market-downturn.html
In the time of the crypto market downturn, Binance Coin (BNB) tokens, made by Binance's crypto, experienced fantastic price increases. Between January and February 2019 alone, BNB soared by 75 percent. What causes the BNB to be able to counter the sluggish crypto market trend ...?. Here are a number of reasons that might boost BNB performance.

1. Binance Number One Exchange.

Binance is the number one crypto exchange in the world in terms of transaction volume and number of active users. BNB tokens are used to get a trading discount of 25 percent for Binance customers who store them. The stock exchange was overwhelmed by receiving new members when a runBitcoin bull occurred in December 2017 and January 2018 so it was forced to close the registration.

Binance's exchange does have a strong reputation in the crypto community as a supporter of the spirit of decentralization and the tokenisasi ideology. Binance's CEO Changpeng Zhao (CZ) repeatedly expressed a pro-crypto attitude in various interviews.

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2. Binance DEX (Decentralized Exchange).

Although crypto carries the spirit of decentralization, almost all entrances to this industry are through centralized parties. Binance answered this problem by launching their own decentralized exchanges, namely Binance DEX.

CZ believes decentralized exchanges are a future trend and he does not want to miss this opportunity. Binance has assigned a large team to build and manage Binance DEX, and has launched the initial version of DEX in February.

Binance also bought the Trust Wallet, a decentralized wallet that can store Ethereum and ERC-20 tokens. This wallet will be used at Binance DEX as a default wallet. with a large number of Binance customers, it is suspected that Binance DEX will successfully attract new customers and at the same time encourage the use of BNBs that are expected to be used in the DEX.

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3. BNB Burning Process.

The token economics model or the BNB token economy is fairly strong, due to several things, namely :

First, BNB trading is paired with crypto which has a large market capitalization, such as Bitcoin, Ethereum and Cardano. That is, traders can buy BNBs using the crypto.

Secondly, Binance has committed to burning 20 percent of the traditional cost of profits every four months. The ultimate goal is to burn 100 million BNB tokens sold during the initial coin offering (ICO). The last coin burning occurred in the fourth quarter of 2018, worth US $ 30 million. Coin burning is a very important aspect in the blockchain economy, because it helps reduce the inflation rate, because the amount of BNB supply decreases in the market. Supply is reduced, combined with stable or rising demand against the BNB, then the price is likely to be raised.

4. The spirit of Changpeng Zhao.

Binance boss continues to work hard amid the bear market conditions to make his business a success. Many members of the crypto community rely on CZ and Binance to be a source of inspiration and enthusiasm to continue to progress amid the sluggish market conditions.

5. Binance Chain.

Binance's ecosystem continues to grow, beyond the market and grow into a complete solution. Binance plans to launch a number of anticipated products in the future, so that it can push the price of the BNB even higher.

One of Binance's products launched is its own blockchain called Binance Chain. BNB, which previously was an ERC-20 token on the Ethereum blockchain, will play a major role as a native token in this new blockchain. Binance Chain enables crypto projects to raise funds and launch their respective tokens in the Launch Pad feature. Funds collected are carried out in the form of a BNB, thus adding one more use to the token.

6. Conclusion.

Some say that the volatile crypto market is very risky. But on the other hand volatility is good for demand for the BNB, because volatility means many traders will target trading discounts by using the BNB. In addition, Binance actively seeks to expand its reach by opening fiat to crypto channels around the world so that it will increase the number of customers. All of the above factors are the reasons BNB is a good token to be stored. Do you agree...?

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