Why Binance Coin Should Be Among Your Portfolio

Binance Coin (BNB) is the native coin for the Binance crypto exchange. The crypto exchange is one of the best crypto exchanges in the world with a massive trading volume daily. The CEO of Binance is Changpeng Zhao. The best part of Binance is its popularity. This platform is known by almost anybody regardless of the person’s knowledge or involvement in crypto.

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This is due to my personal survey

The Binance coin is used for several things, it can be used to store assets, its an utility token that can be used for transactions and its used to pay trading fee on the platform also. There is also a BNB quarterly burn to reduce the supply of BNB, making the value of the BNB higher. These burns are achieved by Binance using the profits generated from token sales to rebuy more BNB and destroy them.
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Now let’s go to the DEFI space, Ethereum to me is supposed to be the king of defi due to its blockchain technology. But Ethereum was in a state where it’s transactions could not be handled by their infrastructure making it slow and causing transaction congestion’s in returns their fees became so high. So Binance created their own smartchain called BSC(Binance SmartChain) to perform almost the same function as that of Ethereum. Their BSC was so good and convenient that it caught up to that of Ethereum in terms of trading volume. Defi is clearly known as the future, its the lead in the world of finance, our known cubdefi is built on the Binance SmartChain.

If you are comparing Binance Coin and Ethereum you can clearly see that Binance is faster and cheaper than Ethereum. Most people use Binance SmartChain as an alternative to Ethereum because of how cheap and fast its transaction is.

Not Financial Advice

Posted Using LeoFinance ^Beta