If you invested your $10,000 in BNB (Binance Coin) 2 years ago, your asset would worth $103,190 at the moment.
On 16th June 2019 (two years ago), it would cost you $33.92 to acquire one Binance Coin. You could purchase around 295 BNB with an investment amount of $10,000. According to data by CoinMarketCap, the asset had its value increasing by more than 900%.
Indeed, reflection is a vital thing, and there are multiple things that you wish you had known some two years ago. However, since there is no way you can go back, let us find what BNB has today and whether it is worth your future investment game.
BNB is Binance’s network native token. Binance is among the reputable crypto exchanges on the globe. However, Binance Coin has more than being an asset on a crypto exchange. It can serve as a cryptocurrency exchange and a platform for DeFi (decentralized finance) and different applications. A DeFi app is any blockchain application that aims to substitute the current financial services. Developers might utilize the BSC (Binance Smart Chain) to create new projects.
The strength of this combination is that decentralized finance projects initiated on the Binance Smart Chain can reach the exchange’s targeted investors. For instance, users can use the Binance Launchpad available on the crypto exchange to vie new enterprises.
However, with the regulations surrounding leveraged cryptocurrency trading, US traders can only access Binance.US, which includes fewer coins and features than the global site.
BSC (Binance Smart Chain)
The BSC can run vital smart contracts.
Smart contracts are vital features behind ETH’s success. They are blockchain programs that operate after meeting predetermined conditions.
The ETH network saw congestion in 2021, increasing the platform’s gas fees. A busier network has more gas fees. With that, most DeFi developers are now looking for alternatives. Binance is among them.
If you plan to invest in Binance coin, beware that all digital currencies are volatile. No one knows whether Binance Coin will have another 900% surge. Examine your goals when you want to invest in cryptocurrencies.