Topic: What is your take on Binance coin (BNB). (Read 253 times)

Some altcoins are losing their marketcap when others are gainers. Ethereum transaction cost is so high compared to Binance smart chain. Simply, users change their minds to use BSC. For 1 week I saw very low Ethereum transaction cost, but today it is high. Users will turn back if the Ethereum transaction cost is low.

(a) Yes, to invest in Binance is a very good long term investment strategy because it has proven to be a coin with good team, good use case and supports from the community, so these makes it good for long investment.

(b) Binance will be able to support and sustain its growth and it didn't just get to the 3rd spot by surprise, it all happened due to good work of the team and their supports for projects under their smart chain network. Also, many projects are migrating to BSC network because of low fees, this will also contribute to Binance maintaining its position on coinmarketcap.

(c) Although, Binance has grown so much to be valuable today, although it has shown to have more room for growth, but yet I won't trade all my ETH for it. The reason is, ETH still remains the best altcoin, with the best smart contracts and some of these upcoming blockchain network are still copying that of Ethereum which shows that Ethereum is the best till date. The issue of gas fee can be attributed to the high number of projects on their network and as the team are already working on it, it will be solved.

(d) Ethereum is not a stagnant coin, it keeps growing as well, just as Bitcoin keeps growing too. Ethereum even with its growth can't overtake Bitcoin because it is growing also, in the same way, Binance Coin can't overtake Ethereum because Ethereum is growing as well, the price today speaks a lot.

Binance is a very good coin it has features that can support it to keep moving upwards like burning coins which can minimize the stock of Binance when buying demand is high it will cause a price increase, Binance also has very good fundamentals and has low transaction fees.  so it can help Binance maintain its position.

I do accept the fact that Binance is trying to own everything and have a say on the market with multiple developments either by purchasing its competition or simply copying other products, like the BSC chain copied directly from ETH, they have Pancakeswap copied from Uniswap and now they will be creating their own NFT and so on which means the price of BNB might grown even higher.

BNB has a lot of potential because of the way the binance is developing just recently binance is making announcements of NFT which means Binance will always develop however it will be un wise to sell your ETH to buy BNB because ETH is also a very good and have potential just like BNB

For me personally, the BNB coin is very promising and can serve as an excellent income in the future. Since I invest in BNB coin whenever possible. And I'm doing the right thing and investing right your funds. Now the world of cryptocurrencies is very promising and requires special attention, since everything needs to be understood. Since these are new technologies behind which the future stands. I have chosen the right path for myself and I also wish everyone good luck in the world of cryptocurrencies.

then bnb never replaces eth, bnb could be a good long term investment as its value continues to rise, i would never replace my eths with bnb as i believe their value growth is much faster, when the value of transaction fees eth will go down bnb will obviously lose many positions in the ranking

of course for now the BNB is a coin for a very good long-term investment. they have done a great job creating transaction ease.
if ETH doesn't solve the problem immediately. BNB will continue to rise and will beat ETH someday.
for now I was brave and believing so I sold all my ETH and started investing in BNB
I predict the end of the year will be wonderful for the BNB

Not that time to time but due to its business model of owning one of the most popular crypto exchanges in the world, you'll have that chance to make significant money because their business is continuous.
And in that case, the token (BNB) they own is very liquid due to the use case and incentive that the exchange provides and can stay for a long time.

A) it's not certain that its good for long term investment, but I think as long as Binance exchange continues to stay as the best crypto exchange then bnb will continue growing, my only fear is when the ETH 2.0 is out, I don't think Binance bnb will still be getting the attention it's getting now.

D) I don't know, it's seems impossible right now but in the crypto space anything can happen, the chances of bnb flipping Ethereum on the top coin chart is less than 30%, time will tell though.

Honestly I am already in plan to sell all my ethereum holding to convert them into BNB, because I am believing into BNB toover take ethereum incoming months hence I feel it would be wise decision to go for buying BNB when it is available for cheaper prices.

I guess here the point is not being most valuable coin but how much we are going to make profits. So, regardless of BNB will be topping ethereum, I guess investing into something which will get me more ROI will be  a good idea rather than what kind of market situation will turn later on.

Binance is an altcoin that is currently popular, because from time to time it has experienced a very significant increase, besides that the BSC network is also being used because the transaction value is very low, I think BNB is very worth investing in the long term because this altcoin has a bright future,,,,

In my opinion, binance is a very good altcoin to invest in, because this altcoin is very potential, and has a bright future in the crypto world, currently the BSC network is very much used by traders and investors, because BNB has very low fees, hopefully  BNB could outperform ETH in the near future,

Yes. BNB is indeed the best coin and is worthy of a long term investment. But when it comes to overthrowing Ethereum, I think it's an idea that's hard to realize. Because Ethereum also has a lot of users. There's no way just BNB will increase, while Ethereum is running in place. It just doesn't make sense.

(a) I think that is a good long term investment besides bitcoin and ethereum as Binance now at number 3 position at CMC/Coingecko.
(b) BNB can sustain its position because BNB has big support from the exchange that can grow in the future. But that will depend on Binance exchange itself to maintain their reputations among the other exchanges.
(c) No, I do not want to trade all my ethereum for BNB but I will trade my BNB with bitcoin or usdt and I see that is a good chance for me to make a profit.
(d) I am not sure if BNB can replace ETH position as Ethereum still the biggest altcoin now and have big supports from the investor. But maybe in the future, BNB can replace ETH sooner or later, especially if ETH can not solve the fees problem.

Well we have seen similar question all over the forum but something about yours just feels different. Love the introduction on how you have outline how the project started and how far they have come. Now let considered someone saw you post and invested in both project as of when you posted this topic with equal capital.

Do note that I'm not implying that we should make random investment decision based on topic or other belief we see online but let assume the post was the reason why you research more and decision to invest in both project probably just for some experiment.

BNB would had obviously given more profit as it's currently trading above 50% from the price when this post was published. BNB is getting all the hype now so obviously it'll give higher returns that doesn't mean ethereum is a bad investment either, only time will tell which was the best.

My take on BNB is that they have good future for at least the next few years to come. They are very fast in offering their new products. And right now, many crypto  users are trusting these financial products. With their SAFU in place, I guess a lot of its users are pretty confident with their funds sitting on this platform. But beating eth, not yet. But BNB is a very good choice to include in your investment portfolio. Just my 2 cents.

BNB is quite useful when I trade on Binance. And when people are trading in huge amounts, it does not makes much sense what price the coin is as the fees discount are converted and carried out in USD value. i.e. whatever the price, if you are buying small amounts of BNB to get a 25% of fee reduction, you are still in profit. But for long term buy and hold, I feel BNB is overvalued at the moment.

a. it's a good strategy to invest in BNB for long term investment

b. it can sustain its position maybe forever consider there's no coin that can having various usability like BNB

c. If ethereum 2.0 will not meet the expectation and I personally will exchange it to BNB, I have exchanged some of my ether for BNB

d. There is always possibility for ethereumm to surpass ethereum soon

To answer your queries based on my opinion-
(a) Right now, it seems investing in BNB for long term is a good one. They have huge potential from the way I see it because of their diverse products on their platform. And they are continuously innovating their products and services section. I don't see them stopping anytime soon.
(b) Will not trade all my ETH for BNB. Some only. As the potential of ETH in the next coming months is also good because of their upcoming changes in the network.
(c) There is a possibility for BNB to topple ETH, however, not seeing this to happen in the near horizon. BNB has a lot of things to accomplish first before totally surpassing ETH.