Binance Coin

Best Why Binance Coin Could Double Your Money

Binance Exchange

The Binance Coin Exchange will always be one of the most important factors influencing the value of BNB. With an estimated 28.6 million customers, the Binance Exchange is the world’s largest cryptocurrency exchange.

Binance Coin

The exchange has recently seen such a rise in new customers that the company is behind. It has had to employ enough servers to keep up with the demand! Binance Exchange is the market leader at the time of writing, with over 1.4 million transactions per second.

The Binance Exchange’s native token is BNB. While it can be used to make payments on a variety of digital platforms. Most of its value is located within the Binance projects themselves. Most importantly, BNB can be used to get lower Binance Exchange costs.

This provides BNB some utility, and investors can be certain. Not only does the Binance Exchange’s continued performance provide some stability to its native currency. But if it continues to grow its user base, there will likely be more demand for BNB. Which might push up its price.

Binance can compete with Ethereum

It appears that Defi is the cryptocurrency of the future, and many industry experts believe that crypto projects. That does not include smart features will soon become obsolete.

At the time of writing, Ethereum is definitely the king of Defi. With over 213 projects on the platform, including some of the industry’s biggest names like Uniswap and AAVE. Furthermore, many prominent cryptocurrencies are now developed utilizing the ERC20 protocol. Which means they may be used with other Ethereum projects.

Binance Smart Chain, on the other hand, is the only project that can compete with Ethereum’s Defi dominance. In reality, Binance surpassed Ethereum in terms of transaction count across Defi projects hosted on the network in early 2021, handling over 7.3 million on 1 May, more than six times Ethereum’s 1.4 million.

In comparison to Ethereum, Binance Smart Chain has some technical advantages. Its dual-chain architecture makes it ideal for multi-layer Defi projects, as well as a variety of other uses. BSC also has substantially cheaper usage costs than Ethereum. This is important when considering Defi, which requires a high volume of transactions. Due to its hefty costs, Ethereum was abandoned by several Defi initiatives last year.

Exchange Coins are Big Business

BNB had a massive price rise in Q1, starting the year at roughly $40 and soaring to an all-time high of $690 in May, equal to a growth of over 1600%. While some of this was due to Ethereum’s congestion issues in late 2020 and early 2021, numerous exchanges have reported increased traffic. As well as revived interest in their native coins.

The native tokens of OKEx and KuCoin have also seen a surge in trading activity recently. With KuCoin Token (KCS) nearly matching its 2018 high in April. In May, the OKEx token, OKB, reached a new all-time high. This is a significant turnaround from 2020. When KuCoin was selling for less than $1 and had a low market cap.

Many crypto analysts were ready to write exchange coins off as recently as autumn 2020 – before prices suddenly skyrocketed. It has been speculated that exchange coins have gone up in value in the line. With the growing popularity of Defi, as the usage cases of the tokens. Within their parent networks may soon start to evolve.

This is certainly the case with Binance Coin and Binance CEO Changpeng Zhao has more or less acknowledged it. Defi is the future and his firm intends to support emerging projects on the Binance Smart Chain. It remains to be seen exactly how BNB will fit into these plans. But it will likely have a positive impact on the coin’s value. 

The Tokenomics of Binance Coin

The information shown thus far suggests that. The Binance Coin could be a valuable addition to your cryptocurrency portfolio. But they are all dependent on the success of the Binance Exchange or smart network. However, before the debut of the Binance Smart Chain. BNB had a very solid economic model and was already competing with the crypto heavyweights.

Binance Coin

BNB holders, as previously stated, receive a trading discount on the Binance Exchange. The savings are also not insignificant: traders can save up to 25% by using the exchange’s native currency. Given that most crypto traders want to maximize their profits, Binance is the world’s largest crypto exchange. It’s safe to say that demand for BNB is likely to remain high in the foreseeable future. 

When it comes to supplies, BNB has taken an unconventional approach. Every three months, the platform will perform a token burn. Which will remove 20% of profits from the previous quarter from circulation. In practice, this is a way to lower inflation while theoretically increasing BNB scarcity. If demand continues to robust, economic fundamentals suggest. That the price of BNB will grow as more coins are burned.

The price of Binance Coin is expected to rise

It’s reasonable to assume that Binance Coin has the essential credentials to compete with the market’s top cryptocurrencies. However, as we’ve seen over the last few months. A token’s technical credentials – or lack thereof – are frequently unrelated to its price movement. Fortunately, most crypto analysts expect BNB to rise in value.

By the end of 2022, WalletInvestor predicts a significant growth in the value of BNB. Binance Coin is expected to reach theoretical highs of roughly $1,042 by the end of 2022 and $3,169 in five years, according to its technical analysis, indicating an increase of 516.54% over the current price. Simply put, WalletInvestor believes that if you invest today in BNB, your money will double in a year.

BNB is also expected to expand, according to DigitalCoinPrice. By the end of 2022, it expects Binance Coin will be worth more than $739.27. By the end of 2025, the platform forecasts BNB to be worth more than $1,060 per token.

Of course, these Binance Coin price projections are simply speculative. But the fact that two of the most prominent analytical platforms are projecting such good trajectories for BNB is extremely encouraging.

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What Binance Coin Experts Have to Say

When it comes to cryptocurrencies, market sentiment is crucial. So keeping an ear to the ground and listening to what key figures in the industry have to say about a certain coin or project is always a good idea.

“The BNB coin – like Ethereum – serves a function beyond simple value,” writes crypto author Matthew Makowski for Investment U, alluding to Binance Coin’s role as the “crypto to buy crypto with.” He also points out that BNB crypto has increased by more than 1,300 percent in the time it took Bitcoin to double. “That isn’t because it, like Bitcoin, is a fantastic store of value. It’s because of [its] usefulness in the real world.”

The success of the Binance Smart Chain. Which has “quickly become the most used smart contract platform next to Ethereum” and “accelerated volumes and earnings fueled by white-hot crypto markets,” according to researcher Roberto Talamas, has “created the perfect environment for BNB to reach new all-time highs.”

Finally, earlier this year, BNB earned an odd endorsement from KISS legend Gene Simmons. He tweeted that he had “just purchased $300,000 in BNB.” While the glory days of glam rock may be behind. Gene has always been admired for his financial acumen, and his backing for Binance Coin is a clear vote of confidence.

Conclusion -In 2022, would Binance Coin be a good investment?

So, will Binance Coin be able to double your money by 2022? As we’ve seen, two of the industry’s most respected analytical systems feel so and given. That BNB is presently trading around $570 and returned more than 1,300 percent in 2021. It doesn’t need to break any records to return a 100 percent profit to investors.

Binance Coin

While the cryptocurrency market is always volatile, Binance Coin provides some stability. That’s not to claim it’s a risk-free investment. But it does have a certain cachet being the native token of the world’s largest crypto exchange.

If you’re considering investing in Binance Coin. You’ll want to stay up to date on developments in the Defi sphere, as Binance Smart Chain and Ethereum are effectively competing. Which network has the most to offer these new enterprises?

All things considered, Binance Coin may not double your money in 2022. But it does appear to be one of the better crypto investments.

Where can I get Binance Coin?

If you want to invest in Binance Coin in 2022. You’ll need to find a broker or exchange that supports the cryptocurrency. There are a lot of options out there, but we usually prefer eToro. Because it has a good reputation and all of the essential regulatory qualifications.

The other fantastic thing about eToro is that. Even though it has a lot of trading tools and complicated charting data. It’s still simple enough for the average investor to use. It’s simple to open an account, and if you have all of the necessary papers. You may be up and running in minutes.