Steemit Crypto Academy | Season 2: Altcoins – Part1 "Looking beyond the Bitcoin" | homework done by davchi

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INTRODUCTION

I wish to pen down my homework task in regards to the Binance COIN (BNB)

Hence let's take a short history of Binance, as we cannot explore the entire Creed of the subject matter without having a clue of it's emanation.

Nevertheless, the acronym BNB well known to be BINANCE is a crypto currency that was born out of a combined technicality of two men, formally known as Changpeng Zhao and Yi He in the year 2017.

Notwithstanding from my speculations, I agree to the fact that the bases of their innovation was drawn after their strategic executive positions at OKCOINS company where they both worked as employees and have gained quite a pretty knowledge on the workings of coins and cryptocurrencies in general persay.

Screenshot

THE BINANCE CONCEPT

As every other cryptocurrency, the Binance draws it workability from the existing functionality and call up protocols of other preexisting cryptocurrencies.

On like the Bitcoin, ethereum XRP etc which has it's existence in decentralized outlook and platforms, Binance also maintains the same pattern, in that it also exist in decentralized exchange platforms as it's not a country's currency which precludes it from existing in centralized platforms like Banks and some other financial institutions.

In the real sense of it's existence, perhaps we can enunciate and also buy to the idea that all cryptocurrency exchange platforms accepts the Binance on their real time exchanges because of it's flexibility as a cryptocurrency ( that is, it has been able to maintain a more progressive value than being static and regressive, compare to some other competing cryptocurrencies in the market)

CURRENT EVALUATION OF THE BINANCE COIN
Evaluating the current viability of the coin as a very profitable venture we can deduce our argument if actually the coin is worth it. Let's just take some analysis below according to goldprice

Now, taking a little analysis from the existing findings and summary of goldprice, to actually deduce if the Binance COIN is really a profitable venture from my screenshot.

Nevertheless, from the screenshot above, we can see that currently the coin has a real exchange value with the USD stipulated at $549.1 per Binance, with a market capitalization of $84.8 billion, having a total supply of $154.million and a trade volume of $7billion and despite it's negative trend stipulated at -5.34, it still maintains a
reasonable rank of 3 in the entire cryptocurrency market.

From the above analysis by goldprice, it is quite observable that the Binance COIN is viably investment enticing because of it's progressive value sustainance over the years, despite the volatile nature of cryptocurrencies of which it is not in exemption.

In consonance with the current price of the Binance, I can speculate it's price to rise to $1000 per Binance in the next 5 years and probably in 2030 it may rise to $1400 with a little coefficient per Binance based of it's progressive value, only if it continues to maintain an increase of about $100 per Binance each year,

Reasons for my speculation being that since the said innovation (Binance) has spanned for 5years and at the expense of the 5years, it has maintained a $500 increase, there is the tendency that in the next 5 years, there will be another $500 increase although with some decimals in it's value and probably in 2030 it must have appreciated to $1400per Binance.

POSSIBLE MEASURES TO OWN A BINANCE

First is just to create a Binance wallet in a decentralized exchange and thereafter you start mining as your active demand can meet and it is advisable and business wise to mine the Binance now that it's price is abit low.

Let's just take a look at some trusted exchanges where one can purchase the Binance crypto using the centralized medium like bank transfers and debit cards which are but not limited to the following:

S/no	Exchanges	Method	Currency
1	BINANCE	B. Transfer, D. card	USD
2	ZENGO	Bank transfer	USD

It is technically advisable to store your purchased Binance crypto to a trusted wallet like your Binance exchange platform wallet, where is secured to avoid the loss of your crypto either through hacking or liquidation of the said exchange where you purchased bit from.

I wish to appreciate Professor Sir @yohan2on for putting me on the line of this very incredible research, thanks.

Cc: @yohan2on