Binance coin (BNB) is considered one of the most promising cryptocurrencies that you can still invest in and get good dividends for your investment.
Is BNB worth investing in 2022?
Many people mistakenly believe that the crypto market is limited to buying Bitcoin and nothing else worthwhile can be found there. But there are many tokens available for purchase today including Binance Coin. Analysts promise BNB to be quite popular, so let’s take a look at this cryptocurrency right now.
This cryptocurrency was launched through ICO in 2017, 11 days before the launch of cryptocurrency exchange Binance. It was originally intended to run on the Ethereum subnet and share a common mint, but the rise in the price of the token and the ability to use it as a full-fledged means of payment, did the trick. Binance Coin is a separate token that has hundreds of uses.
It cannot be mined, you can only buy the cryptocurrency with dollars, euros and any other national currency. This fact makes you think about the validity of such investments, because you don’t want to lose your money, and if the investment has no prospects, it is better to pay attention to other electronic coins. However, the doubts are unfounded – the token has long turned from an exchange currency for transaction fees at Binance to a diversified asset.
Reasons to invest in this cryptocurrency
One of the main factors that speaks in favour of choosing Binance Coin is the global ranking of cryptocurrencies. According to the universally accepted ranking, the coin has managed to win the fifth position and become one of the most popular utility tokens in the world. Around the world, investors are actively using all the features of this cryptocurrency to pay for goods and services in Binance Chain and receive flexible interest returns when investing for the short and long term.
If you want to buy BNB, it is worth comparing it with other coins. Below is a table comparing BNB to other popular cryptocurrencies on the market (data according to coinmarketcap.com).
|Ethereum||∞||1 311$||160.7 bil $|
|Binance Coin||200 mil||273$||44.2 bil $|
|Cardano||45 bil||0.44$||15.2 bil $|
|Ripple||100 bil||0.47$||23.3 bil $|
|Solana||∞||32.77$||11.6 bil $|
|TRON||∞||0.06$||5.5 bil $|
As mentioned, BNB can be used on both BNB Chain and other platforms, so it is up to you to decide how to use your coin. Cryptocurrency can be exchanged at any time, but even more conveniently, it can be used to pay for travel expenses, goods payments, loans, rewards and other transactions. Today, the ecosystem is so large that it is impossible to keep track of all the updates and improvements. But you can see the most current changes on the Binance exchange’s Twitter.
BNB growth forecast
Throughout the year, you could see the value of the coin falling. It started with small corrections and ended with a major fall amid the collapse of the crypto market in June. So now that BNB is starting to touch the bottom, many are thinking about buying coins at a very large “discount”. Do not invest thoughtlessly – the more information about the direction one manages to learn, the better the chances of making good money on such an investment.
BNB trades with more than 400 coins. This makes it one of the most liquid cryptocurrencies. Therefore, trading of this cryptocurrency happens, there is plenty of information in the network, charts of currency changes are updated in a timely manner, instant earnings with minimal commission on successful trades are guaranteed.
Analysts predict a promising future for the coin as Binance exchange is actively developing and increasing its competitive position. The list of payment options for BNB is also expanding.
All given information is not a financial recommendation, even well-known analysts cannot predict the growth or decline of the cryptocurrency in the long term. It remains to study the information on the market on a daily basis and draw your own conclusions about the rationality of buying cryptocurrency. It is important to keep in mind that cryptocurrency was, is and will continue to be a risky asset for the investor. So, it is important to gradually gain experience in investing, invest in cryptocurrency before it is too late, and make a profit in the near future.