Binance, their token and what they call DEX are all centralized and that is more than enough reason for you NOT to ever hold BNB because we are in a decentralized market and anything that has even a shred of centralization (let alone fully centralized like this) have no future in the long term.
but for now, Binance is the most hyped up thing in this market and since they are controlling the whole altcoin market with their gigantic volume and user base, they can easily dictate the price of their own token and that is what they have been doing with their fake pumps.
so try to enjoy the massive profit they are giving you while still protecting your money by not becoming a bag holder.
Topic: Top 3 Reasons To HODL Binance Coin (BNB) (Read 251 times)
For this price movement I think there is no anyone who assume that is just because the third factors that you made. Binance is the trading platform and many people who coming up to that place, may you remember, when its platform had hacked and 7000 btc be stolen but this issues just give a little affect to the price movement of bitcoin even need a few hours the price bitcoin met an increased price again, indeed it was woried but that has happened. So as, for the price up drastically in a few days ago and maybe will continue to up again in the future I think it's because many newcomers coming up and invest in BNB.
Binance has been most stable and out performing coin in this year with lot of activities and building along with launchpad , Dex , charity and also opening lot of fiat exchange with easy way to have your funds transfer and get in safe .
Im already hodling BNB, but what are the prospects of BNB surpassing ETH in terms of token price?
Binance trying to monopolize the industry by encouraging future or current projects to shift into the BNB chain. There are already current projects using the BNB platform which will slowly build a demand for the binance coin.
You explained very well, Binance is the largest crypto exchange and people trust on Binance and due to all three factors you have discussed in your post are the major reasons behind HODL to BNB.
I still hold the BNB. Since the price is still low, I also believe that Binance is able to compete with its high-end coins, especially with Binance DEX it's very good with high liquidity.
BNB's price and trading volume has been going up steadily ever since they rolled out their site-located IEO Platform called Launch Pad. Many crypto coin traders who trade at Binance have said that the new IEO coins on Binance are in some ways connected, linked to, and affected by the price of BNB and vice-versa. Also, now that Binance's DEX Exchange has been opened you can expect BNB's price to continue to rise, with the occasional dip to accompany it,
1. It was created by Binance
Yeah, the same exchange that was hacked a few weeks ago and lost close to $40M...That doesn't give me enough confidence to buy BNB, especially if I'm planning to hodl for the long-term, plus, its centralized feature is a big red flag.2. Binance brought fiat-crypto transactions
This and your explanation do not encourage me to pour money into this coin.3. Binance DEX
Anyone who believes their DEX will be completely decentralized is a fool.As soon as the DEX goes live, people around the world will rush to it.
and the coin is bound to skyrocket
This is nothing more than assumptions + 'hope and dreams'. The only people waiting to sign up on Binance DEX are the one that are already in the cryptosphere, the general public doesn't care about centralization or decentralization, I'd go as far as to say that the average person would trust a lot more in the main exchange rather than the DEX, mainly because they're used to centralized companies, businesses, etc.Oveall, i'm not against hodling BNB, but those reasons that you listed are pretty lame, especially if I were an investor, because nowhere in your post you mention they key word any investor planning to hodl a cryptocurrency wants to hear: profits.
Binance coin has proven to be good for long term, I think some reasons here are nice. My major reason for holding will be because it's now on its own blockchain, binance chain, and binance also created Binance DEX increasing its liquidity. Investing in any coin is risky, so invest with caution, do not love any coin.
I think bnb is good and it will keep growing if the exchange just manages to maintain and grow the volume on its platform the more the users and the more the trades it will eventually result in growth of bnb and i do not see volumes declining at binance at the moment may be some big scandal can damage the volumes but at the moment bnb looks safe.
The Binance coin so far has been one of the best coins of the year. It has returned huge interest since this year, coupled with other developments ongoing at Binance, it will still see further gains.
I think that on long term the BNB coin can be a good option and will bring a good profit, but always we should invest only some money which we should lock in for long to get enough profit.
I can say it's really longterm and it's really potentially bnb it's the one who knows the token that longterm should do to make your profit bigger because I think it's really a good project so many investors are buying bnb and holders because they also know that the token bnb is in the future if you just want to invest in altcoinds be smart in choosing because many new altcoind are now scams and really are risky in investing.
I see it the other way around.
BNB is way overhyped.
Therefore I present you...
Top 3 Reasons To DUMP Binance Coin (BNB)
BNB is way overhyped.
Therefore I present you...
Top 3 Reasons To DUMP Binance Coin (BNB)
Have you taken into consideration the possibility of Binance being taken down byUS authority simply because they let US Citizen to trade in their platform and buy their IEO's? Have you also thought of the possibilities and effect of this possible events to BNB token? Does hodling BNB outweigh this possible risk?
Everything in the crypto world is very risky and yes you have a point there but as i have observed because i am also holding some BNB when it is priced around $8 and now it is more that $30, so we are now on a profit. It is up to the individual if he wants to hold longer and take the profit later or regret if something happens to Binance.
CZ and his team continues to innovate and that's good enough reason to get BNB. The Binance Chain, the Binance DEX, and the growing partnerships will increase the popularity and demand of BNB.
If we speak for Binance, this is a very promising project that is worthy of the attention of any investor since the price of the token today exceeds 30 dollars and this is not the limit. The prospects for the growth of the token there is a recent update that already warms up the price and the launch of margin trading should raise the price high in any case, I will watch this token.
Im already hodling BNB, but what are the prospects of BNB surpassing ETH in terms of token price?
Binance trying to monopolize the industry by encouraging future or current projects to shift into the BNB chain. There are already current projects using the BNB platform which will slowly build a demand for the binance coin.
Have you taken into consideration the possibility of Binance being taken down byUS authority simply because they let US Citizen to trade in their platform and buy their IEO's? Have you also thought of the possibilities and effect of this possible events to BNB token? Does hodling BNB outweigh this possible risk?
I am completely agree with your three points.
They are no doubt completely makes us the worth of BNB.
But according to me you forgot to mention one thing.
The reason for which BNB is so popular and we need to Hold it is that, it's dev team.
As it is developed by Binance so they keep it as their primary coin of exchange.
For which the price keeps on increasing and the trading volume becomes more.
They are no doubt completely makes us the worth of BNB.
But according to me you forgot to mention one thing.
The reason for which BNB is so popular and we need to Hold it is that, it's dev team.
As it is developed by Binance so they keep it as their primary coin of exchange.
For which the price keeps on increasing and the trading volume becomes more.
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