Steemit Crypto Academy | Season 2: Altcoins – Part1 "Looking beyond the Bitcoin" || LECTURE BY @yohan2on || HOMEWORK DONE BY @sayaalan
Hi friends, how are you, I hope you are fine, today I will make a review about Altcoin, here I will follow this week's homework, which is Season 2 homework : Altcoins – Part1 "Looking beyond the Bitcoin" by @yohan2on. Keep reading to find out what I have to say about him, without wasting a lot of time let's get started writing my homework, Okey? :)
Introduction
So since we are here for learning purposes, I will start a discussion to explain about the coins I chose from 3 choices of assignments this week from my professor @yohan2on, among them are :
- Litecoin (LTC)
- Ripple (XRP)
- Binance Coin (BNB)
And I chose "Binance Coin (BNB)". Of course all kinds of investment coins have a profit and loss impact, this will never escape the name of an investment, but it is also important to remember that we must be careful in choosing and spending assets in the crypto world. That's the main key here. Okay, for those of you who still don't know what Binance Coin (BNB) is. Let's study together by reading my writing to the end.
Why Choose Binance Coin (BNB) ??
Here I will tell you a little, when I actually wanted to choose Ripple (XRP), after thinking and considering what coin I would choose from this week's assignment, I finally chose Binance Coin (BNB). The reason is because BNB is one level above Ripple (XRP) from the data I saw on the CoinGecko market cap, but after I almost finished writing and wanted to post my writing how surprised I was, when I saw Binance Coin was 4th. position, overtaken by Ripple (XRP).
But here I also have another reason why I chose Binance Coin (BNB) because I have also registered an account on the Binance CryPro exchange for a long time, and have carried out several trading activities there.
What is Binance Coin (BNB) ?
Binance Coin (BNB) is one of the crypto assets published by Binance Exchange, BNB is a coin on the crypto exchange with a volume of $12,288,646,179over the past 24 hours, and is currently the top 3 coins on the markep, with a market cap of $86,564,298,915, and the price of 1 Binance Coin (BNB) is $560.24.
Binance coin (BNB) is also an ERC-20 token type and also runs on the Ethereum Blockchain (ETH). In this post I will also list a table, here I am quoting the last 7 days in USD currency, you can see the table below:
| Date | Market Cap | Volume | Open | Close |
|---|---|---|---|---|
| 2021-04-13 | $92,356,058,017 | $16,807,622,341 | $598.55 | N/A |
| 2021-04-12 | $80,304,972,016 | $6,929,265,662 | $522.90 | $598.55 |
| 2021-04-11 | $72,863,380,910 | $7,892,324,625 | $471.84 | $522.90 |
| 2021-04-10 | $69,006,619,223 | $5,947,228,477 | $451.21 | $471.84 |
| 2021-04-09 | $64,636,587,596 | $5,991,138,735 | $418.14 | $451.21 |
| 2021-04-08 | $58,558,889,933 | $7,619,517,550 | $377.01 | $418.14 |
| 2021-04-07 | $62,712,349,429 | $6,375,820,135 | $404.46 | $377.01 |
The data or price value list that I have written in this post is an excerpt on the CoinGecko site
What is Binance ?
From a survey question I wrote in a telegram group, there I found someone who answered briefly his opinion about BINANCE, he replied "I think binance is an exchange - User moonboy". From this answer I will draw the conclusion that BINANCE is one of the sites that can be accessed to exchange coins, for example, the exchange from Bitcoin to other Altcoins.
Screenshot on my Telegram
Why Binance Coin (BNB) ??
On the Binance Exchange Market, you can easily exchange all types of coins into Binance Coin BNB, you can select it in the wallet display then there will be the words "Convert small assets to BNB".
Screenshot of the Binance app
Binance Coin (BNB) is also one of the Alt coins that has the most active Crypto Exchange in the world, this can be seen in terms of volume in terms of the number of active users. Binance Coin is also a decentralized exchange that is Binance DEX. If those of you reading this article are in the same country as me, then I invite and advise you to join the Binance Indonesia telegram group, there we can learn together from senior traders and ask questions that we may not know, and need friends. steemians know that the Binance Indonesia Comminity Telegram Group is official, the group was created by Changpeng Zhao or what we usually know as CZ.
Conclusion
- From these two definitions, it can be understood that the meaning between BINANCE and Binance Coin (BNB) has a different meaning. BINANCE is an exchange, while Binance Coin (BNB) is the name of an alternative coin found on several other Bitcoin market exchanges such as Indodax and Poloniex as well as several other coin exchange markets.
- Binance Coin is also a decentralized exchange called Binance DEX.
- Binance Coin (BNB) is one of the altcoins that has the most active crypto exchange in the world.
- If you want to learn and know more about Binance Coin (BNB), you can watch an interview of the CEO of Binance Exchange from a CZ, here
Thank you to all friends for reading my post.
Professor @yohan2on, here's my entry for Steemit Crypto Academy | Season 2: Altcoins – Part1 "Looking beyond the Bitcoin"
Support Source :
Hi @sayaalan
Thanks for your attendance and participation in the Steemit Crypto Academy.
Feedback
This is good work. Well done with your research study on Binance Coin.
Homework task
7
Thank you professor @yohan2on ✍
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