BNB exceeds $ 500: is it profitable? Discover the keys to Binance's crypto

Time has shown that investing in BNB is profitable. Especially now that Bitcoin is in full swing in the second half of the bull run 2021, with the price of BNB experiencing a major rise in which it has exceeded $ 500 in price. What will happen to BNB? This cryptocurrency, also known as Binance Coin, is the virtual currency developed by Changpen Zhao, the founder of Binance. With the purpose of increase authority of the exchange's ecosystem.

Today, Binance is considered one of the most important cryptocurrency wallets globally. And to this is added that the BNB has a capitalization of more than 4000 million euros. (Positioning itself as the 4th most important.) By the way, a few days ago Binance has already made the identification of all its users mandatory. We recommend you our practical guide to getting verified on Binance without hassle and quickly and safely.

However, how profitable is it to buy BNB and what is your outlook for the future? Next, we will clarify these doubts.

Is BNB safe and reliable? Opinions and future

How much BNB can go is a mystery and there are opinions for all tastes, but in general the projections of the specialists are quite favorable, reaching prices of 750 dollars by the end of 2021, with a notable growth of BNB until 2025. In the next few paragraphs, we will discuss the principles that govern this cryptocurrency. Which will help you to draw the conclusion whether investing in BNB is safe and reliable or not.

Why was the Binance Coin designed?

That BNB is profitable shows in several respects. This cryptocurrency was created to strengthen the Binance ecosystem, becoming its native currency. Its founder, Chagpeng Zhao, saw it safe to take it out in mid-2017 through an investment of the initial coin, ICO.

The exchange received more than 10 million euros, used to finance the necessary expenses in order to bring the Binance Coin to the market.

One of the aspects that benefited the future of BNB is the fact that it has a solid foundation. Since the Binance platform is considered the best exchange internationally, when it comes to:

1. Investment volume
2. Amount of cryptocurrencies available

In his first stage, Chagpeng chose to place BNB at a price of 0.10 US dollars. Since then, it has gained popularity by leaps and bounds, positioning itself as one of the most important virtual currencies.

BNB is profitable: what is the goal of crypto BNB?

The Binance Coin was developed in order to operate a native cryptocurrency. In addition to offering investors an alternative to commissions of the exchange (which are considerable if we compare them to other platforms.)

This is why thousands of use cases are reported on the Binance chain. Not to mention that, thanks to her, you will be able to pay the main expenses of the platform. Among them we must highlight:

1. Investment rates
2. Listing fees
3. Exchange rates

Likewise, you can use it to invest in specific offers of the ICO. In addition to participating in IEO exchange offers, on the Binance launch pad.

This is how Binance Coin works

The amount of virtual currencies that were initially mined dated to about 200 million, and they were distributed as follows:

1. 50% were distributed during the ICO
2. 40% of them were invested in the Binance project
3. And the remaining 10% were attached to angel investors

It should be noted that, at first, Binance Coins were called ERC20. But this changed when the wallet updated initial token to the blockchain technology that predominates in its main network.

Today, the smart chain of smart contracts Binance make it easy for anyone to create decentralized apps and digital assets on a blockchain. However, the most relevant aspect is that they take advantage of the performance they offer with DEX, the decentralized wallet exchange. (It is considered above the market average.)

One of the strategies that Chagpeng Zhao devised to increase the value of BNB in ​​the market is to buy it gradually. The same exchange withdraw the coins from circulation, acquiring them. It is estimated that half of the cryptocurrencies will be destroyed in this way, leaving only 100 million.

On the other hand, the Binance chain employs the Byzantine consensus mechanism of tolerance. What impacts against Tendermint failures, which involves different nodes for:

1. Validate
2. Witness
3. To emit
4. And speed up processes

3 characteristics that make BNB a safe cryptocurrency

In the next paragraphs, we will mention what are the three aspects that make Binance Coin a safe, reliable and profitable currency in the long term:

1. Maintain accessible trading

One of its advantages is that it lies in saving, regarding investment rates. None of the main cryptocurrencies have managed to exceed or equal the bases that govern this system. Among them we point out the following:

1. Featured BNB users, better known as VIPs, have the availability of buy discounts when buying or selling.
2. VIP investors who cancel all of their fees will be able to replace other exchange assets with Binance Coin.
3. And those people who decide to use it to pay transaction fees, will acquire a discount of the 25% during the process. (Before it was 50%.)

Thanks to this business model, the wallet developed a massive influence, which spreads to an amalgamation of businesses. Those who chose to use the Binance Coin as an official form of payment.

There are many retailers and outlets that accept it. However, the most influential are:

1. travelbybit. Now you can travel around the world and cancel with BNB at merchants in Australia.
2. Crypto.com. The expenses generated by your credit cards can be paid by this platform using cryptocurrencies, safely, easily and quickly.
3. Gifto. Using a few BNB, you can buy different gifts on this streaming video website.
4. Mithril. It is a decentralized social network that is based on ETHER's blockchain technology, and that rewards users according to the content they upload. (They accept payments with BNB.)
5. Pundi X. Nowadays, all premises that use the XPOS tool, made by Pundi X, will accept BNB.
6. Currency. More people are looking for a way to invest their money, but Moeda stands out for allowing you to do so with Binance Coin. It will also make it easier for you to conduct business around the world.

2. It is one of the cryptocurrencies with the greatest use online

One of the most attractive aspects of BNB, are your applications. For this reason, it became seductive in the eyes of investors and traders.

Next, we will list the traits that make Binance Coin stand out:

1. The non-tradeable conversion. An amalgam of users on Binance have cryptocurrencies that cannot be traded for some reason. These are called "dust." And being useless, in a sense, you can convert them to BNB in ​​just a few steps.
2. The IEO lottery. All investors have the possibility of acquiring lottery tickets according to the amount of Binance Coin they have. And depending on the result of them, a significant amount of BNB will be added to them.
3. Featured User Mapping. All persons who acquire large sums of BNB and deal with them, during 30 days in a row, the VIP rank will be facilitated. (This level is coveted thanks to the discounts they offer when buying / selling, among other facilities.)
4. The BSC. Also known as Binance Smart Chain, it is a technology that debuted at the end of the third half of September 2020. It is a smart contract platform, compatible with the Ethereum EMV. This will provide you with applications, tools and other software designed through smar contract on Ethereum. Which you can reject or store in BSC.
5. Exchange capacity. Now you can trade your Binance Coins for any other cryptocurrency. Be it BTC, ETHER, XRP, etc. However, the most important thing is that no matter what platform you use, you can make transactions within the wallet itself or third parties.
6. Governance. The right to the governance mechanism of the Binance chain is only given to certain users. And one of the requirements to acquire it is to store a large amount of leveraged BNB.

3. Your policy and privacy

When it comes to security, trust and stability, they ensure that Binance Coin is a reliable currency.

But most decide to work with BNB thanks to two aspects: the withdrawal limit, which reaches $ 30.000 USD, and the ease of handling.

In addition, major currency investors place their trust in it thanks to the accompanying technology. Since the security problems of the Binance chain are inferior, compared to its competition.

On the other hand, when it comes to privacy, Binance Coin is worse than its rivals. (This feature is characteristic of Ethereum and Bitcoin. Since they "break" the connection, once a transaction is made with any cryptocurrency.)

The specialists assure that, every time a transfer is executed, it is advisable to change the address. In this way the tracking becomes complex. Also, almost infinite addresses can be created.

At this point, it should be noted that the BNB lacks certain factors and adds others that do not help to improve the security of the users. Like, for example, the fact that it is located within the Binance platform.

Each one of the users that operate in this exchange, must carry out a couple of processes:

1. KYC or "know your customer"
2. And AML or "anti money laundering"

Both studies reduce the level of privacy that can be acquired with some of the cryptocurrencies already mentioned. Be it ETHER or BTC.

In fact, any transaction that takes place through your system, incoming or outgoing, will be recorded by Binance. And shared with the governments with which it collaborates.

Investing in BNB: is it profitable against other cryptocurrencies?

The platform's fame as an exchange has been a major boost for Binance Coin. And even more considering that companies they are adapting, returning to cryptocurrencies, such as BTC or BNB, to use crypto as an official means of payment.

Today, after more than 10 years since the appearance of Bitcoin, people understand the ease, the potential and the security of using them.

This is the reason why the foundations of BNB get stronger as time goes by. Making it reliable when trading and investing with it.

Furthermore, according to technical analysis, this trend will not decrease. Which is why many investors suggest that it is the ideal time to acquire your first Binance Coin.

Not to mention that its infrastructure is robust. Which explains why they consider it a long-term investment.

During August 2021 BNB has experienced considerable growth. In just 15 days, BNB is up 30%. But the perfect system does not exist: it has presented difficulties that prevent you from overcoming the barrier of the 450 $ USD. This makes investors doubt.

It is likely that, in the coming months, it will increase in value significantly. Emphasizing that various reports place it in a very profitable position for future and current investors.

But how do you know if it is actually reliable? It should be noted that BNB reached the current level from one day to another. The process suggested the refinement of the Binance chain and a long time making agreements with external companies of great prestige.

This is why an amalgam of users are supporting you and BNB is thought to be profitable. And the Binance Coin has proven to be an investment with potential.

But when it comes to volatility, it is one of the cryptocurrencies less volatile in the market. Which makes it useless if you want to trade. (And while it is good for investors who think long, it is also considered difficult to find key entry and exit points.)

After all, there is no exact formula to know if a cryptocurrency is 100% reliable or not. Even more considering that most are too volatile.

There are many factors that can cause Binance Coin to fall or rise. Like, for example, when the platform stopped trading tokenized stocks, on June 16. Which plummeted in value by about half.

It also negatively affected investor concerns regarding regulatory hurdles. (They can affect the performance and evolution of the platform). For this reason, before investing or buying your first BNB, and any other cryptocurrency on the market, it is important to analyze it and everything related to it.