Let’s get one thing straight - Bitcoin really is king and there is no denying that. Until Ethereum or Ripple catch up with the amount of daily trading volume and close in on Bitcoins market cap - Bitcoin will remain king!
However, as this entire industry continues to grow we will need more and more places for us to trade our cryptocurrencies. That is why I have split my portfolio amongst these 3 exchange traded tokens as I believe that regardless of market conditions, these have the opportunity to continue to grow.
Let us start with Binance Coin - the token issued by the largest exchange in the world. I really do not need to say too much really? Just look at the chart! Binance Coin has been on an epic surge this year up around 450% from the yearly open.
The token offers discounts on trading fees for users that hold BNB tokens - these really do add up which is why people choose to use them which means that there is always a utility for BNB. Furthermore, Binance also conducts a buy-back program where they buy BNB tokens off the market to burn from the profits made that quarter. They will continue to do this until 50% of the BNB tokens are burnt.
Adding to the utility, Binance has taken matters one step further. This year we have seen a handful of projects being launched on the Binance Launchpad - a new service in which Binance will host IEO (Initial Exchange Offerings) for projects that Binance have vetted. One of the most popular offerings on Binance Launchpad this year has been BitTorrent Token - a project run by Justin Sun.
This whole idea of IEOs ties in with my second coin in the portfolio - QASH. QASH is the cryptocurrency that has been created by Liquid - a Japanese FCA registered cryptocurrency exchange. Liquid is growing at an alarming pace as users flock to the exchange due to the fact that it is regulated and the team work very hard to ensure the funds from all deposits are accounted for.
Liquid has also started to launch their own offerings on their platform - with a very large offering upcoming in the Telegram Token sale. Users that own QASH during the token sale will receive discounted benefits. We can expect this trend to continue in the future which will help QASH rise higher.