Join 100,427 users already on read.cash

How can I exchange a BNB beacon chain to Bitcoin?

0 1
Avatar for technosp
Written by
4 months ago

What is the virtual currency Binance coin (Binance/BNB)? Thorough explanation of features, future prospects and future potential:

Build a token bridge Binance Coin (Binance/BNB) is a cryptocurrency brand issued by Binance, the world's largest cryptocurrency exchange.

In this article, we will thoroughly explain the characteristics, price trends, and future outlook of Binance Coin (BNB) in an easy-to-understand manner.

In the second half of the article, we will introduce how to buy Binance Coin (BNB) and recommended virtual currency exchanges where you can trade, so please refer to it until the end.

Recommended exchange!

FTX JP

Almost all fees are free!

You can trade perpetually

A wide variety of currencies handled

Deposits and withdrawals of Japanese yen are also very fast

As introduced at the beginning, Binance Coin (BNB) is a crypto asset issued by Binance, the world's largest cryptocurrency exchange.

it is a major brand that ranks 5th in all cryptocurrency market capitalization rankings, making it a very popular coin among cryptocurrency investors, mainly overseas.

When first launched in 2017, it was an ERC-20 token issued on the Ethereum blockchain, but has since been integrated into Binance's own chain, the Binance chain (now the BNB chain).

I will introduce the detailed characteristics of the token later, but it can be said that it is a cryptocurrency with great benefits for trading, such as receiving various benefits when using the Binance exchange by owning it. I guess.

Features of Binance Coin (Binance/BNB)

Here, we will explain the features of Binance Coin (BNB) in more depth.

If you are thinking about long-term holding or trading of Binance Coin (BNB), please refer to it.

The key currency of the BNB chain developed by Binance

A feature of Binance Coin (BNB) is that it is the key currency of the BNB chain.

The BNB chain is a blockchain independently operated by Binance, and is currently a popular chain with over 1,300 Dapps being developed, including Pancakeswap.

Binance Coin (BNB) is a coin that is used in various situations of such a BNB chain, and is used for multiple purposes such as paying gas bills.

It can be said that such a large number of uses is one of the factors that maintain the popularity and price of Binance Coin (BNB).

There are advantages when using the Binance exchange by owning:

Owning Binance Coin (BNB) offers many advantages when using the Binance exchange.

・ Up to 25% discount on fees for virtual currency transactions

・You can participate in the launch pad (early purchase of newly listed coins)

・You can use staking with attractive interest rates

Build a cross chain bridge

As mentioned above, Binance Coin (BNB) has many incentives, and it can be said that there are merits to owning it other than to obtain capital gains.

Especially for those who mainly use the Binance exchange, the benefits are great, so why not consider owning it?

The value is maintained by periodically burning (burning) the distribution volume.

As a major feature of Binance Coin (BNB), it is also necessary to mention that it regularly burns the circulation amount.

Burning means reducing the number of coins currently in circulation, and burning reduces supply to meet demand, making it easier for prices to rise.

which can confirm the number of Binance Coins (BNB) burned, it can be confirmed that as of June 2022, about 35 million coins have been burned out of the total issued 200 million coins.

Ultimately, it is planned to reduce the supply to 100 million pieces, so it is possible that the environment will become more prone to price increases in the future.

Binance Coin (Binance/BNB) Charts and Price Trends

Here, let’s check the current price trend of Binance Coin (BNB).

The above chart image shows the price trend of Binance Coin (BNB) over the last six months.

Among them, the FOMC (Federal Open Market Committee) announced the direction of rate hike in the second half of January 2022, and the collapse of Terra (LUNA) in May 2022 confirmed that the price has fallen further. can make it, right.

However, some experts are predicting that prices will soon bottom out, and some news articles suggesting a temporary rebound.

Even so, the market environment is still weak in terms of upward momentum, and new negative news may lead to further declines, so it is necessary to pay attention to the future trend of Binance Coin (BNB). I guess.

Binance Coin (Binance/BNB) Future Prospects and Forecasts

Here, we will introduce the future outlook and forecasts of Binance Coin (BNB).

The future prospects are not necessarily correct, but if you are considering trading Binance Coin (BNB), why not check it out in detail?

It is possible that the price will rise due to periodic burning (burning)

As introduced in the features of Binance Coin (BNB), Binance Coin (BNB) is regularly burned to reduce its circulation.

Due to the decrease in the circulation of coins, the supply cannot keep up with the demand, so the price tends to rise.

Of course, depending on the situation of the cryptocurrency market and the global economy at that time, it is quite possible that the price of Binance Coin (BNB) will rise in the future due to periodic burning (burning).

1
$ 0.00
Avatar for technosp
Written by
4 months ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments