At the end of February 2021,Binance Coin (BNB) suddenly came into the spotlight. These crypto-assets have gone up. In the last week, BNB's assets have increased by 119%!
Well, but do you know what Binance coin is? Do youhavethe intention to invest in BNB? If so, then this article is for you.

Get to know Binance Coin (BNB)

On July 25, 2017, Binance Exchange, the number one crypto exchange of the number of transactions and its active user, issued crypto-assets traded under the symbol BNB. This crypto asset is what we know now as BNB coin or Binance coin (BNB).
There are many exciting things with this original coin from Binance. The market capitalization is more than 3.15 billion USD, and the daily trading volume is more than 203 million USD, avery high number.

Even with stable fundamentals and more users have made it into the top 10 at Coinmarketcap. BNB is also easy to trade on various platforms.
BNB coins are ERC-20 tokens running on the Ethereum blockchain. The total amount is 200 million BNB tokens.

In the initial phase of development, BNB coins were only used for transactions for the Malta-based company's operational needs. Such as trading fees, recording fees, exchange fees, and other costs contained on the Binance exchange.

Binance Strategy Attracts Fans

Investopedia reported that in the first year of its launch, traders who transact through BNB are given a 50% discount.
These discounts are reduced periodically for the next five years. Starting from 50%, 25%, 12.5%, 6.25% until finally not valid at all.

Not only discounts but the popularity of Binance coin is also due to this crypto asset can be used to invest in ICOs registered through Binance Cryptocurrency Launchpad that will be listed on Binance exchanges.
Also, BNB coins work closely with various platforms such as cryptocurrency trading services, video streaming, payments, and mobile applications.

Burn Coins Let ThePrice NotFall

To keep BNB value competitive, every four months, the combustion process is carried out. Binance will buy 50% of the tokens already on the market. If BNB's total supply is 200 million, Binance will buy 100 million BNB tokens.

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This repurchase of BNB tokens uses capital derived from 20% of Binance's profits.
Then after being purchased, the 100 million BNB tokens will be burned and destroyed gradually. As of mid-April 2018, there were 2,220,314 BNB tokens (about $30 million) burned by Binance.
The purpose of this burning is to reduce the rate of inflation. Like the law of supply and demand, BNB value will increase if the supply is lacking, but demand is stable or continues to grow.

Indirectly, the increased destruction or burning of BNB tokens also indicates the profitability of the Binance exchange.

Should I Invest in Binance Coin (BNB)?

It has many uses that support trading activities. Still,people are busy investing in BNB because this digital coin is one of the ten cryptocurrencies with the most significant market cap value.
BNB is also noted to have rapid price developments. CoinMarketCap, currently Thursday (04/15/2021), one BNB has a price of USD$ 547.19 or equivalent to Rp8,008,772.77.
BNB tokens are also much sought after due to their excellent liquidity levels. So many traders choose BNB to trade on various cryptocurrency exchanges.
For those who want to get BNB, you can buy it through the official cryptocurrency exchange in Indonesia.

A Little Acquaintance with Binance

Often when deciding to invest in one of the cryptocurrency currencies, we want to know how the credibility of the 'parent' of the currency is.
Binance Exchange is a company that gave birth to Binance coins. The company is engaged in cryptocurrency exchange. Thanks to its outstanding products and management, Binance is one of the most trusted in the world.

The CEO, Changpeng Zhao, has an uncomplicated lifestyle, but his work is legendary. That's why hes often called Mark Zuckerberg the cryptocurrency world. The founder is also quite active on Twitter and diligently tweets about finance developments.
Although known for trading, Binance also has several other projects. The average is still in contact with the cryptocurrency world.

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These projects include cryptocurrency business incubators (Binance Labs), cryptocurrency-related learning and content sharing (Binance Info &Binance Academy), new token launch facilitators (Binance Launchpad), and charities (BCF).

Binance Visa Card

In April 2020, Binance introduced a cryptocurrency-based debit card called a Binance visa card. Its function is very similar to a typical bank debit card.
This Binance card, in cooperation with Visa, will allow Binance users -Who is eligible- to buy and pay bills with cryptocurrency.

So you can shop using Bitcoin and BNB. But of course, at outlets that accept Visa.
It works very much like a regular debit card issued by a typical bank. The user deposits funds into the card before using them for transactions. But the advantage is, there is no monthly or yearly fee, just one time to pay 15 USD for the card reservation fee.

Binance cardholders can manage their accounts through the Binance card App. Users can view transaction history, withdraw funds, manage PINs, and access customer service.

Cc: @yohan2on

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