Why BNB will be the most used cryptocurrency of the decade

Binance started as a cryptocurrency exchange platform but has evolved into one of the biggest blockchain ecosystems in the cryptocurrency space. This growth includes having its own cryptocurrency Binance coin (BNB) which was first developed as an ERC-20 token on the ethereum blockchain. Now BNB has been migrated to it's mainnet and even allows other tokens to build on the Binance chain.


It is very common to see new cryptocurrencies gain popularity and die off within a short period especially when they don't have a use case to back them. However, BNB has come to stay and will gradually see its demand increase as the Binance ecosystem expands. Its use case is embedded in the robust Binance Ecosystem and extends even beyond the Binance ecosystem and here are some examples:




  • Trading Fees on Binance: Traders on Binance can opt-in for the option of using BNB to pay for trading fees and receive discounts. Binance has an average daily trading volume of two billion dollars, with the discount of trading fees as low as 0.015%. It is hard to imagine traders not taking advantage of the discount and it means there is an average flow of 30 million dollars worth of BNB daily from trading fees. There is an increasing number of traders on the Binance exchange which means the number will increase as well.




  • Gas fee on Binance Chain: Just like Ether powers the ethereum blockchain, BNB is used as fees for transactions of tokens on and other decentralized applications using the Binance chain. BNB has faster processing time with lower transaction fees, developers are easily attracted to build on the Binance chain as it also has a very supportive team for start-ups.




  • Outside the Binance ecosystem, BNB can further be divided into 5 use cases which include; payment, travel, entertainment, services, and finance. Under each of the above categories, several companies with millions of customers and merchants use BNB to power the delivery of their products and services. For instance, travala.com allows customers to get the best prices of 1.65million properties worldwide and pay with BNB. Other platforms like Netcoin, Nexo, Crypto.com, PundiX, Alchemy, CoinGate, Coinify, Paycent, Decentraland, Loom Network, Dent, and Gifto just to mention a few have already integrated BNB for one use case or another. Considering that BNB is just under 3years old yet already gained such widespread adoption and uses, leaves us to conclude that it will be one of the most useful tokens of the decade.




As more people become aware of cryptocurrency, they also get to acknowledge that Binance is the Amazon of cryptocurrency due to its immense work to achieve freedom of money worldwide. Although the percentage of people that use cryptocurrencies is still very small compared to the world's population, Binance already has a strong community of Binancians that use BNB regularly for daily activities. 




The growth of Binance has been incredible and if it was a country in the cryptocurrency space then it would easily be likened to America with the demand for BNB being as much as the demand for US dollars. Although Binance is just 3 years old as at the time of creating this content, it serves several millions of people globally and its application will continue to increase as more people adopt cryptocurrencies making it indeed the token with the most use cases.




It's also worth noting that the price of BNB has increased by over 30X since it's ICO and has adoption increases, the price will go higher. If you want to benefit from this growth and make long term profit, you can signup on Binance and purchase some BNB. Finally, If you want to earn consistent profit from trading cryptocurrencies, then join our telegram Community to explore more opportunities by following this link; https://t.me/CryptoAfricaCommunity

COMMENT

6

Charles 12
07 Sep

Finally something is beating ethereum,  there is going to be a healthy competition Among crypt currencies and BNB is really on the top of the rung in a few years time 

8 REPLY

10

Field Nigga
16 Sep

I've known BNB for some months now, but the kind of waves that Tron is carrying about is something else.

4 REPLY

8

Rojas .
16 Sep

Tron is excellent

0 REPLY

11

Romeo Hart
16 Sep

I have read your thoughts, but I believe in Tron. We all need cheap transaction fees. I even think of Ada. Those coin you can transfer with less transaction fees

4 REPLY

4

John Eberechukwunemerem
16 Sep

Binance is one of the leading crypto exchange, they have one of the best customer care which works 24/7, it have contributed to there advantage. There are one of my best exchange platform. BNB growth  is because of the Binance exchange influence. I advise everybody to go for coins that are owned by exchange platforms

4 REPLY

4

Barineka Maagbo
16 Sep

Looks like ,with its dominance and influence, more products, always in  the forefront, I  see bnb hitting 70$ before next year

4 REPLY

COMMUNITY DETAILS

Cryptocurrency & Blockchain

31462

Subscriber

1

Online

A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.

RELATED COMMUNITIES

Bitcoin Cash

26539 subscribers

Litecoin

25956 subscribers

Cryptocurrency Mining

25090 subscribers

Trading & TA

22638 subscribers

Zcash

18092 subscribers

Uptrennd Optimization

15103 subscribers

© 2020 UpTrennd.com