BNB is one of the safest bets in crypto now.. The Binance exchange will become one of top 3 exchanges.. regarding the price rise of BNB, after we have seen such jump in one day, from 14.000 to 33.000 sat in one day, and this understandable (and desirable) correction to area 25.000-29.000 sat that we have now, we can expect progress at the rate of cca 20-30 % per week, till the price of 3-4 $.
If you are looking a coin for 10x in short time, it is too late, it is already up 4x...so look further. But if you look for something safer (if there is something safe in crypto at all), and moderate with decent % of earning, you can buy it now..it is not too late for that.
If you are looking a coin for 10x in short time, it is too late, it is already up 4x...so look further. But if you look for something safer (if there is something safe in crypto at all), and moderate with decent % of earning, you can buy it now..it is not too late for that.
Can you explain what exactly BNB token does and why the exchange need it? I am looking at it but tbh I don't understand what isthe value of the BNB token...
BNB is used to pay fees on exchange with discount. To make the long story short.. the price of BNB will reflect (and follow) the strength and importance of Binance exchange. And since the Binance exchange is at its infancy, and significant growth is predicted for it (in my opinion, it will overtake large numer of clients/traders not only from Asia, but also the old clients from Poloniex, for example, because of Polo problems...), so should the price of BNB rise along and in correlation with it.
In other words -- It adds another form of currency and additional things to worry about when trading? Do we not have enough exchanges already? Why would I buy into a new one that is also trying to market it's own crypto? Makes no sense to me.
It is not currency, it is asset, important difference. It's purpose is not paying, like at Bitcoin, Litecoin, etc..
Regarding the question do we have enough exchanges already - welcome to free market.
(bso you culd ask, why do we need new car producer, Tesla, when we already have 100 "old" car producers?)
It can be 1000 exchanges, I do not mind. Personally, I have most confidence in Bittrex, and much more confidence in Binance than in Poloniex.
Additionally, I will day trade a lot on Binance, and could use 50 % discount on fees..
Except cars have been produced for more than 100 years. Cryptos have been exchanged for what? About 10 years & still less than 3% of the population knows they even exist. If you want to make comparisons, you might consider the fact that it would have been silly to have 18 car manufacturers in 1915 -- when few people used or even knew of the existence of automobiles. That would be a more accurate comparison.
You might not mind if there was 1000 exchanges -- but having an excessive supply of exchanges, just makes each exchange less important/valuable. Which doesn't bode well for the BNB "asset" you currently hold.
