Binance Coin Gave A Whooping 1300% Return This Year

Binance is the largest and most trustworthy cryptocurrency exchange in the world. Founded in 2017 by Changpeng Zhao, a Chinese-Canadian business executive. He is currently the CEO of the company. The Binance exchange is so large that around 1.4 million transactions are done per second. Binance has issued its cryptocurrency, Binance coin, and its symbol is BNB. 

What Is Binance Coin?

Binance issued the Binance coin as a utility token for their exchange to allow users to pay for trading & transaction fees for other tokens.  

Initially, the coin ran on the Ethereum blockchain. Later it became the native coin of Binance. So, Binance decided to shift it to its blockchain, the Binance chain.

Binance issued a total of 100 million Binance tokens in its ICO(Initial Coin Offering). But if we look at the current supply it is much lower and stands around 17 million. But how? Binance every quarter uses some of its profits to repurchase and then perform burning events to burn a lot of its tokens to decrease the total supply. 

Binance Coin Uses

  • The coin emerged as a utility token and is now used to pay transaction fees for various platforms like Binance.com, Binance DEX, and Binance Chain. 
  • Platforms like Crypto.com and Monetha also accept payments in the form of Binance coins.
  • Travel booking websites like TravelbyBit and accept the token as payment.
  • You can even use the coin/token for financial purposes to make investments at Moeda or take a loan at ETHLend.

Partnerships & Support

Binance coin has got a wide variety of partnerships. They partnered with Asia’s premier high-end live video streaming platform, Uplive. 

Uplive now sells virtual gifts in exchange for BNB tokens to its 20 million-strong user base.

Platforms like Binance, Visa support the token, its utility, and the community it is trying to build.

Should You Invest?

The coin gave a whooping return of 1300% this year. If you have invested $100 at the beginning of this year, it would have become $130,000. 

But is it still worth investing? Will it still give returns in the future?

Yes, it is still a worthy investment. 

First, Binance coin is supported and backed by Binance. Second, it solves a major problem of high transaction fees that Ethereum charges. And third, it can be used for many purchases on various sites.

You can use my referral ‘Binance’ to download the app and start buying cryptos. Using my referral you get a 20% commission on every trade you place.

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