Binance Coin (BNB) is one of the digital assets in the crypto market that does not require much introduction. In the past months, BNB has been doing well in market growth rate and market capitalization.
Moreover, Binance has announced its 13th quarterly BNB burn. The platform burned a total number of 2,2253,888 BNB coins, which is equivalent to $68 million. This event was performed to maintain healthy token rotation and slow down possible inflation rates.
What is Binance (BNB)?
Binance launched in July 2017, the biggest crypto exchange worldwide based on daily trading volume.
Binance aims to be the preeminent global exchange of cryptocurrency. Binance’s name stands for a new paradigm in international finance, Binary Finance.
Aside from being the greatest cryptocurrency exchange worldwide, Binance allows a host of functionalities to its users. The Binance network consists of the Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and Research projects, which all leverage blockchain technology to create new-age finance. Binance Coin is crucial to many of the sub-projects on Binance’s platform.
Binance Coin Current Market Worth
As of the time of writing, Binance Coin is $571.80 with a 24-hour trading volume of $2,160,607,387. Binance Coin has been down 1.81% in the last 24 hours.
The current CoinMarketCap ranking is #3, with a live market cap of $95,376,573,460 USD. It has a circulating supply of 166,801,148 BNB coins and a max. Supply of 166,801,148 BNB coins.
Binance Coin (BNB) Pros
- As of now, this crypto exchange is the biggest on the market;
- A discount tool for the clients of the exchange;
- The most frequently used utility token;
- It is kept stable and continuously growing due to the burndown procedures;
- Due to large investments in technology, this crypto trading platform has the potential to beat Ethereum.
Binance Coin Cons
- Unlike other cryptocurrencies, it is centralized;
- Several governmental and financial regulators tries to close the company;
- Hackers often attack this network due to its substantial position (yet, no one has succeeded to break into its security system so far);
- Its prospects depend on the demand for this technology.
- Expert Advice for Binance Coin Price Prediction
Expert Advice for Binance Coin Price Prediction
As per Binance Coin’s price prediction, BNB holds a promising and bullish future. There is a probability that it might maintain the current price rally till the end of this year.
It has given a prediction of almost $900 for most of 2024. Digital Coin Price believes that Binance Coin will be worth $715.52 by 2025, climbing to hit the $1,000 milestone by 2028.
For the spokesperson from Trading Beasts
Binance is a profitable investment option and the ROI from BNB with a 5-year investment can be +93%.
Wallet Investor
Expert predictions about this coin are somewhat optimistic. So, if you are interested in crypto trading, we would advise including BNB in your portfolio. But if you wonder how to buy its coin, below we are guiding you for this
How to buy Binance Coin
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Binance Coin.
- Open an account on an exchange that supports BNB.
- Go to the table to compare popular options — remember that most exchanges need an email address, phone number, and proof of ID to register.
- Deposit funds into your account.
- Fund your account with a bank transfer, pay with a credit or debit card, or deposit cryptocurrency from a crypto wallet to buy Binance Coin.
- Buy Binance Coin.
- Finish your Binance Coin purchase and then find the best wallet to store BNB.
Where To Buy Binance Coin
Discover an exchange to buy, sell and trade BNB by analyzing deposit methods, supported fiat currencies, and fees. Select Go to the site to sign up quickly with the provider.
- eToro USA LLC Cryptocurrency Trading
- KuCoin Cryptocurrency Exchange
- Gate.io Cryptocurrency Exchange
- Crypto.com App
How to Sell Binance Coin?
You can cash out your BNB with the same exchange you purchased it through:
- Sign in to the exchange you have BNB on.
- If you save your Binance Coin in a digital wallet, analyze crypto exchanges to sell it on.
- Place a sell order.
- Determine the amount of BNB you’d like to sell.
- Finish your transaction.
- Verify the selling price and fees and close your sale of Binance Coin.
How To See The Price That I Bought The Boin on Binance
You can access all data related to your trading activities in the Orders and Positions panel at the bottom of your trading interface. In this section, you can switch between the tabs to check the current status of your positions and your currently open and previously executed orders.
1. Order history
The order history records your order placements of filled or unfilled orders in a provided period. This section displays all order details, including the time, symbol, quantity, price, and order type.
- Click on the [Order History] tab to see your previous orders in detail.
- Order History records all order placements’ status and order details, including all canceled limit and conditional orders.
2. Trade history
The trade history signifies the historical record of actual position transactions, only filled orders are displayed in this section. This section shows all trade details like the order history, including the time, symbol, quantity, price, and direction of a trade.
- Click on the [Trade History] tab to see all your trade history.
- Trade History records the transaction details of all your executed orders, trading fees, and realized profits.
3. Transaction history
Transaction History displays all activities (transfers, realized profit and loss, commissions, funding fee, and insurance fund payments) that have happened in your futures account in a given period.
- Click on the [Transaction History] tab to observe all activities in your futures account.
- Use the search bar to see a specific transaction activity. For instance, if you want to view all funding fee-related transactions. Click on the search bar and select Funding Fee.
Binance has a bright future ahead of it in 2021. With continuing progress within the BNB ecosystem and the overall crypto market, we may see BNB reach new heights.