Any of you who know my work know that I'm a fan of Binance Smart Chain (BSC). BSC offers everything the Ethereum network does without the outrageous fees. BSC is already everything that Matic and Cardano are trying to be, and I'm bullish on both of those projects. But there really is no better place to be than BSC if you don't have six digits in crypto.
As a new chain, BSC has had its share of crap projects and straight up scams. Degenswap was complete crap, and even the recent launch of Ten, though not a scam itself, opened the door for many scam tokens to try to scam folks in their scammy liquidity pools. You have to be careful, but there are some protocols that have proven themselves.
Pancakeswap and Cream have been airtight since I've been using BSC. This doesn't mean they are fullproof. Another protocol I was looking into, Venus, recently got hacked because of its inaccurate pricing. But you can count on the Cake and the Cream just as much as any protocol in crypto.
Binance as a whole has a great methodology for people who follow the path that's been laid out. Coins usually start in the Launchpad on the exchange. After a few days of staking (with no fees, by the way), you can bring those coins right down into a Pancakeswap pool if you don't want to stake them in the protocol itself. APYs for the first few days are high enough that you can worry less about impermanent loss. If the coin gets big enough, Cream will add it. Otherwise, you can continue to stake it in the protocol or sell it.
I'm excited about the latest projects on BSC because they take the ecosystem to another level. Helmet protocol brings much needed insurance to the chain, and BTCST provides a way for investors to profit from BTC mining. Even the stuff I'm not as personally excited about — sports tokens on Chiliz blockchain, Reef defi and Ditto elastic coin — seems to be legit rather than scammy. Just means there's something for everyone.
So you've got a growing ecosystem and speculative projects wittout all of the annoying fees and slowdown. I think I've had a transaction fail maybe three times in a few months.
Definitely something to look at in this bull market if you aren't ready to play with the big boys over in Ethereum. Here's a hint: You're not ready to play with the big boys over in Ethereum.
YOUR GUIDE TO MAKING MONEY IN CRYPTO STARTS HERE ---> Making Money in Crypto Part 1
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