Why do you need to immediately store BNB Coin?
In this quarter (Q4) Binance will burn 2,528,767 BNB (approximately $32,700,000 USD) according to the roadmap that Binance wrote in the white paper that quarterly Binance will deduct a portion of the company's profits to buy back BNB and burned, which will reduce the total supply of BNB and thus increase its value. This is a very beneficial strategy for investors who are holding BNB coins. This Exchange is a world top 1 cryptocurrency exchange than many primexbt exchanges, but if you want to see a detailed analysis of the pros and cons comparing 2 exchanges primexbt and binance, please see the article: PrimeXBT vs Binance comparison
1. Benefits of Burning BNB (Burn Coin)
Read the excerpt about the coin burning process of Binance CEO Chapeng Zhao
I am quite shocked that many people still do not understand what the concept of “burning” is. Simply put, if someone destroys 10% of the currency (burn), it will be financially effective as soon as the corresponding 10% of the burned is spread evenly with the other 90% stake holders ( often referred to as the dividend distribution). Some people seem to be happier with a dividend distribution than a burnout. Dividend distribution has three disadvantages: 1) higher costs for in-network transfers, 2) more complicated legal and tax implications in some jurisdictions, and 3) involves a lot of work than.
With the above excerpt, CZ described that burning coins is completely beneficial for BNB coin holders.
2. Binance will split from ETH's ERC20 platform and build its own chain called Binance Chain
Binance Chain is an ambitious update by the company Binance, which is that they will launch their own blockchain mainnet with a decentralized exchange to run alongside their existing Binance exchange. Binance Chain will use BNB as the native coin on its own blockchain instead of running on the Ethereum blockchain. Binance also determined that decentralized exchanges will run alongside centralized exchanges in the near future. One of the main problems today is that decentralized exchanges have poor liquidity, a low user base, and therefore low trading volumes. Binance is looking to solve this problem.
As a public blockchain, Binance Chain will primarily focus on the transfer and trading of blockchain assets, as well as providing new possibilities for the future flow of blockchain assets. Binance Chain will focus on performance, ease of use, and liquidity. Binance Coin (BNB) will be upgraded to live on its own blockchain mainnet, becoming a native coin. At the same time, Binance will transform from company to community.
The future launch of Binance Chain will give BNB holders great benefits when it becomes the native coin on Binance Chain.
3. Binance is the TOP 1 exchange and has a bigger revenue than the big banks in the world
Without a doubt, we also know that Binance is currently the TOP 1 cryptocurrency exchange today. In the last year's report, the company's revenue of Binance reached 1 billion dollars, a profit that exceeded the imagination and dreams of any financial company in the world.
With a daily trading volume of more than 1 billion dollars, and BNB being the main exchange coin of the exchange, it is easy to see that the value of BNB will remain stable and increase in price. This is really a very safe investment channel.
Binance leads the TOP 1 in terms of trading volume,When owning BNB, you are also holding shares of the company, when the company is profitable, you must also enjoy many benefits.
Binance has preferential policies for BNB holders
Recently, Binance has a policy that will increase the referral commission from 20% to 40% for those who hold 500 BNB coins or more. I also took the opportunity and owned 500 BNB coins to receive 40% referral commission.
With the increase in the price of BNB and the increased referral commission, I have also benefited quite a bit from this policy.
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4. Binance's support team is fast and professional
When there is any error with the account, I usually send support to Binance and get a very quick and complete response.
Recently, because of the strong increase in trading volume, the trading system on Binance is often overloaded, but I noticed that Binance quickly fixed it after that.
5. Diversified Binance Platform
It is rare to see an exchange that has trading platforms on website, android, ios, windows like Binance. The Binance app on the phone runs smoothly and conveniently. You can download the experience and try it out.
6. Summary
For the above reasons, I completely believe that the value of BNB will increase in the future, not only because of the policy that BNB brings, but moreover, Binace CEO Chapeng Zhao is a smart, conscientious, capable person. Games (You can find out about his life biography), if you care primexbt platform, please read this post: Is trading at PrimeXBT safe?
If you want to own BNB, you can buy BNB on the Binance exchange. Register an account on the exchange and buy.