Is Binance Coin A Good Investment

The cryptocurrency market, as it stands today, was messed up with various

cryptos. There are around 5000 coins that were listed on Coin Market Cap.
Binance Coin, the exchange token of the world, was the most famous
cryptocurrency exchange. It was one of the safest cryptocurrencies all over the
world. It was commanding the attention of the crypto world since the beginning
of February. In about one month, its price was increased by more than 150%
against the dollar.

It was one of the most widely used currencies and also had many benefits, and it
was spreading day by day. This will drive notoriety to the token and its use in
trading, as it was one of the most active trading pairs to 50+ cryptocurrencies on
Binance. It has some unique and refreshing plans whenever you see the trend;
this token value was just 25% from an all-time high. On the other side, most of
the other tokens were around 5% or 10% from their all-time high.

History Of Binance

Binance was an exchange where users can trade cryptocurrencies. It has its own
specific token currency known as Binance Coin. Binance was founded by
Changpeng Zhao in the year 2007. Binance was a crypto-to-crypto exchange. It
means that you can only use it to trade cryptocurrencies. If you do not have any
currency the first, you have to buy some before trading with binance. If you have
cryptocurrency, you will use it to trade with more than 200 coins and tokens on
binance.

What Is Binance Coin

Binance coin was basically appeared in the middle of 2017 and instantly got the
attention of the cryptocurrency community. Binance Coin was created as an
ERC20 token and originally run on the Ethereum blockchain. As in 2019, the coin
moved to its own blockchain. It was the internal cryptocurrency of the Binance
exchange. However, in essence, it was similar to most other altcoins in that it was
subject to volatility, and that may be exchanged for other assets. It has basically
three functions: it will act as a trading asset, it reduces the commission on the
platform, it was used to pay for goods on sites that accept Binance Coin.

How Binance Work

Binance offers the three various types of trade: Limit orders permit the users to set
the maximum price they were willing to pay for the coins or the minimum price
they were willing to sell them for. Traders then have to wait for a while until the
buyer or seller acquire their price. Market orders permit users to trade coins at
their current market price. That kind of trade was the fastest and most simple
trade. Stop-limit orders permit the traders to buy or sell a coin once it reaches a
certain price. That type of order was frequently used by the pro traders.

Advantages Of Binance
Moreover, to exchange specific services, Binance also gives the other tools,
platforms, and services to reinforce the general blockchain ecosystem. Binance
was the blockchain technology incubator called Binance Labs, which will be
focused on the nurturing promising pre-ICO stage projects. It helps deserving
cryptocurrency project teams by providing essential funding for development,
advisory resources. Binance also offers a site called LaunchPad for hosting new
and emerging blockchain projects. One can also create APIs, which stands
for application programming interfaces. It launches its own personal Binance
Coin (BNB) cryptocurrency across with ICO in July 2017. BNB has acquired
popularity and actively trades with the market cap of around $2.5 billion. It was
set to become the native currency of the decentralized Binance exchange.

How To Trade On Binance

There are two Binance trading setups: Basic and Advanced. Beginners should be
started by trading in the Basic setting. The Basic trade setting was a simple layout
that was easy to understand. Only important information for making trades will
be displayed. You must recall that the Binance was the professional trading
platform, so even the Basic trade set up might seems too complex for some
beginners to use. However, it will not take you to long to grasp on it.
The Advanced trade setting allows expert traders access to all the price charts and
market data that they need to make complex trades.

Binance Futures
Binance Futures that was launched in 2019, enables the traders to wonder on the
price of (rather than to purchase and sell) Bitcoin and various popular altcoins,
including Bitcoin Cash, Ethereum, Litecoin, Ripple, and many more. The platform
allows leveraged trading of up to the 125x, which means the traders will
multiply their profits (but also losses) by the factor of 125 – more than any other
major platform. Binance Futures balances were held specifically from the user
regular or normal trading accounts, and that must be funded with Tether. All
profits and losses will also be recognized in USDT.

The user interface for the Binance Futures seems just about similar to the Binance
spot trading interface, besides some extra functions for supervising leverage and
look over open positions. Fees on the Binance Futures were moderately unique
from their spot markets, with the highest trading fees of 0.04% on any trade. Fees
were lower for “maker” trades (which add liquidity to the order book before
execution), or for the users with big monthly trading volumes.

Is Binance Safe?

Binance was considered as the safe exchange that will allow the user account
protection via the use of Two Factor Authentication (2fa). On May 7, 2019,
Binance accomplished a major hack that resulted in 7000 Bitcoins stolen from
the exchange. However, Binance was stated that all losses would be payback
through its emergency insurance fund (aka SAFU).

Binance Mobile App

Binance mobile app first design will let you switch between Lite and Pro
interfaces with the single tap. Remains it simple or access advanced trading
features, all in one app. They will assemble it easier than ever to buy crypto. Set
the recurring buy to purchase Bitcoin and another crypto on a regular basis.
Binance application was dedicated to trade on Binance. Binance was the
blockchain ecosystem incorporate of Exchange, Labs, Launchpad, and
Info. Binance Exchange was one of the fastest expanding and the most famous
cryptocurrency exchanges in the world.

Reference

What is binance mobile app

https://en.wikipedia.org/wiki/Binance

https://freewallet.org/blog/bnb-price-prediction#what-is-bnb

https://www.bitdegree.org/