The importance of having Binance Coin BNB
binance coin bnb binance future

The importance of having Binance Coin BNB

By Makingdigital | makingdigitals | 28 Dec 2020

The Binance coin is attractive to any investor worth his salt. Binance is the most important exchange internationally and offers a wide variety of tools to generate income through the trading of digital cryptocurrencies.

Trading, staking, holding, selling, buying, transferring, investing ... All this in a single platform.

BNB is extremely relevant in this regard since it is the token with which we are going to interact the most with the Binance Exchange. It has a price of around $ 30, maintaining an upward trend in the long term. Our interest in accumulating it is simply to reduce the withdrawal fees that we have to bear when we want to take our cryptocurrencies.

Also, if we enter the market and we are going to open several buy and sell orders, we need to have a small balance of BNB with holding the fees. The more BNB we have accumulated, the less commission will be deducted from our USD Tether balance when we trade in the futures market.

It is a good strategy on the part of Binance, in this way it stimulates the holding of its cryptocurrency and indirectly invites to buy it in cases where the Trader executes various tasks during the day.

Likewise, the BNB cryptocurrency thrives on many operations based on smart contracts. The new Yield Farming platforms and transfers on the Binance blockchain call for gas. This gas represents minimum fractions of Binance Coin that are required to transfer cryptocurrencies to a platform or request a refund of our funds in staking.

The BSC Mainnet is integrated into wallets such as Metamask and Trustwallet, making interaction with pages that offer Yield Farming services much easier. Any Hot Wallet that wants to penetrate this dynamic will need to be subject to the Binance network, not just Ethereum and Tron.

Good news for Binance investors and CEOs. Also for you, because you need BNB if you want to participate in this party.


Entrepeneur, writer and Cryptolover


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