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Binance Coin Investors Guide: Everything You Need To Know

The Binance exchange issues its own native Binance Coins and trades with the symbol BNB. It is a utility cryptocurrency used for payment purposes on the Binance cryptocurrency exchange. BNB coin trades only on the Binance crypto exchange. Binance comes from two words, ‘Binary’ and ‘Finance’.

Binance Coin (BNB) has boosted the Binance Exchange, one of the best top crypto exchanges, with several utilities such as trading fee, listing fee, exchange fee, and other fees on the Binance crypto exchange.

Binance Coin has a market cap of $83,528,943,191 as of September 2021.

History of Binance Coin

Binance Exchange is one of the top crypto exchanges of 2021, founded in China in 2017. It supports around 1,400,000 transactions per second on its blockchain. It makes the processing of transactions quick and reliable.

  • Bitcoin ICO, launched in July 2017, had about 200 million Binance BNB tokens. It was on the Ethereum network but is now on its own best crypto trading app, Binance blockchain. The best crypto trading app raised funds of $15 million through its initial coin offering in July 2017.
  • In 2019, it launched Binance.US, the best cryptocurrency trading platform to serve its US customers. It has grown into one of the biggest cryptocurrency exchanges in the US.
  • In April 2021, Binance burnt 1,099,888 tokens. Binance Coin gained popularity in February 2021.
  • Binance Coin was the third-largest market cap, ranking behind Bitcoin and Ethereum. But, it slid to the fourth position when USD Tether rose with a higher market cap in August 2021.

Ethereum has the largest DeFi chain, and Binance comes next in line, as the second-largest chain in the DeFi network.

Binance Coin Live Price

The value of BNB coins in 2017 was $0.10 but, in May 2021, it rose to $680. It is a whopping gain of around 679,900%. Binance Coin market cap is at $83,528,943,191in September 2021, with a #4 ranking.

As per our price prediction, BNB may trade around $1,000, and by the end of 2025, it may rise to the $2,800 price level.

You can buy Binance Coin at Binance, CoinTiger, FTX, Hotcoin Global, and many more.

 

What makes Binance Coin Price move

Binance prices reached record high levels at $680 in May 2021. BNB will soon surpass other altcoins in the crypto space, say experts to investors who wonder what crypto to invest in.

BNB is on a bullish trend, and its steady growth signifies significant growth for Binance Coin in the long term with higher prices.

  • Binance gains support by partnering with various firms, which causes its upward price movement. It plays a pivotal role in applications like travel accommodation such as Trip.io and TravelbyBit. Payment for online services such as Canva and Storm is possible with BNB.
  • Payment for transaction fees on Binance Chain, Binance.com, and Binance DEX makes it easier for crypto transactions.
  • Investors use Binance Coin for entertainment purposes like lotteries and virtual gifts.
  • The world’s largest crypto exchange transacts with high volume on multiple pairs of cryptocurrencies.
  • Binance, the best cryptocurrency broker for altcoin trading, uses 1/5th of profits to repurchase and burn or destroy its coins.

Binance Coin Price Falling

Some price predictions may seem extreme, while some are too cautious on the Binance Coins issued by the cryptocurrency exchange Binance.

  • Having Binance Coin comes with risks like loss of capital too.
  • Centralization concerns are some of its biggest problems that lead to falling prices.
  • It also faces attacks from financial regulators and hackers. I

It is best to research BNB reward-risk potential before investing in Binance Coin.

Binance Coin Price Rising

In July 2018, BNB/USD was trading at $10. Up to December 2020, Binance Coin was trading within the $40.00 range. In February 2021, BNB surged to $340 levels, and by May 2021, it shot up to $680 levels. In September 2021, BNB is trading at $504 levels.

  1. Trading Beasts experts predict that Binance Coin prices may raise to $597 by 2022, $661 by 2023, and $1,100 by 2025.
  2. Wallet Investor experts say that BNB crypto coins may reach price levels of $1,001 by 2022, $1,405 by 2023, and $2,275 by 2025.
  3. The Cryptocurrency Price Prediction platform expects Binance Coin to hit $5,600 by 2025. For the short term, it predicts that BNB may rise to $978 by the end of 2021 and $1,700 by 2022.

BNB was the 10th largest in the crypto space in December 2020, during the great bull run. It overtook other big names such as Tether and Litecoin.

Ways To Invest In Binance Coin

Opening an Account: To open an account, you have to get registered with your email address. You have to agree to the terms of use in Binance, the best cryptocurrency broker. You have to solve a puzzle to prove that you are not a robot. Your registration is complete when your email is verified. You now become a Binance account holder and have to keep it secure.

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Once you buy BNB, you can trade crypto easily. Binance crypto broker has a multi-tier system with protection features for all crypto accounts.

Investing in Binance Coin:

  • Credit Card: You can buy BNB using your credit cards such as Visa or MasterCard. Buying crypto is very simple and easy.
  • Storage: Crypto users invest in BNB, the best crypto trading platform, expecting an increase in value. Users can store the cryptocurrencies on their accounts on crypto wallets to keep them safe.
  • Trading: There are more than 150 cryptos available for trading purposes on Binance, the best crypto trading platform. Users invest in Binance for trading crypto.

Usage:

  • Transaction: You can send it to anyone around the globe. As the best cryptocurrency trading platform supports almost 1.4 million transactions per second, you can get your payment done within a second.
  • You can spend crypto for various purposes. Crypto users usually spend BNB to pay for restaurants, accommodation, and online purchases.
  • Donation Purpose: People use crypto for various donation purposes, such as donations for political elections, environment spending, and other purposes, to uplift the economy.

How To Open A Binance Coin Wallet

Binance provides a wallet for crypto traders to store their crypto funds. Crypto Binance Wallet integrates hundreds of cryptocurrencies at a very low fee, between 0.012% and 0.1%.

The Binance Chain Wallet is the Binance crypto wallet to gain access to Binance Chain, Binance Smart Chain, and Ethereum. You can store your crypto securely on it and connect it to other blockchains.

Binance Coin Funds

Binance crypto broker is a crypto-to-crypto exchange where you can trade only cryptocurrencies. There are more than 350 coins and tokens for trading purposes.

Binance has funds from 13 investors. It has made 49 investments, the recent being MOUND with an investment of $1.6 million.

Best performing Binance Coin Funds

Binance Coin is a top-performing cryptocurrency with various services. You can use the BNB coins to trade on Binance, the best crypto exchange. It is one of the top cryptocurrency exchanges in the world.

Apart from its usage in Binance, the best crypto trading platform, it is used for other purposes too. You can trade with the BNB coins you possess. You can also use it for making online payments and for travel accommodation. You can also switch to another crypto, such as Ethereum or Bitcoin, on the best crypto trading platforms.

Biggest Binance Coin   funds

Binance coins may become the primary currency in the Binance, the best crypto exchange. As new crypto tokens find a place on the Binance exchange listings, Binance coins will play a prominent role in the transaction of virtual tokens and coins.

  1. Binance raised $35 million in ten funding rounds. The latest fund raised was from an ICO round in Dec 2020.
  2. Monaco VISA debit card is the pioneer platform for payments and mobile app that supports Binance Coin.
  3. Three funds raised a capital of $1 billion. They are Hacker Bounty Fund, Social Impact Fund, and the latest is Secure Asset Fund for Users (SAFU).
  4. Binance made two diversity investments, and the recent one was in March 2021. It has acquired seven organizations, including Swipe.io, in January 2020.

Best Binance Coin Trading News Sources

Many cryptocurrency sites provide you with a lot of crypto news. But you should find reliable sources like Cryptoemotions, CCN, etc. You can also hear news on social media such as Twitter, YouTube, and Facebook for more trading news.

Is Binance Coin A Good Investment (chart and summary)

In 2021, BNB shows good growth month-on-month.

BNB was trading at $40 in January 2021 but shot up to $680 in May 2021. It was an increase of 1,600% within a short span of five months.

The outlook for Binance Coin in 2021 is pretty mixed. Though there are staggering predictions from various agencies, we can expect year-on-year growth in Binance Coin.

Binance Coin shows an impressive performance with a bull run in 2021. Its prices will show rapid growth for the remaining months in 2021.

Binance Smart Chain is a chain for dApps and smart contracts. Launched in September 2020, it gained recognition in February 2021. Gas fees shot up in Ethereum, and Binance Coin became a cheaper alternative during this period. The DeFi chain is the second-largest after Ethereum.

Is Binance Coin a genuine investment?

A top exchange token on Binance is Binance Coin. The Binance platform does not support fiat currencies. However, trade between various crypto coins can take place. It also acts as an in-house asset to be held when you want to keep it safe.

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It is a safe in-house engine for users who prefer to buy and sell crypto assets simultaneously and is considered a genuine investment.

Binance Coin links with the dark web

  • In May 2019, Binance came under heavy US government investigation regarding money laundering and tax fraud.
  • Binance Coins are heavily centralized, controlled by Binance.
  • Binance faces several regulatory pressures from countries like Japan, UK, Thailand, Germany, and Canada.
  • Binance Smart Chain faces heavy competition from Ethereum 2.0 and Cardano.

Binance.US transactions are not very transparent. Its storage, security, and customer assistance are not very user-friendly. It is best to choose the best cryptocurrency exchanges with the lowest fees that offer more transparent options for key operations.

Trading Binance Coin

  1. Binance is the best cryptocurrency exchange in daily traded volume. The crypto exchange mints Native Binance coins for trading and staking purposes.
  2. Passive BNB coin holders earn interest on their crypto holdings. Traders participate in margin trading and cryptocurrency futures contracts.
  • With automated software or crypto trading bots, users can buy and sell cryptos at the right time. The software increases profits and reduces risks.
  1. Pionexprovides free crypto trading bots for all retail investors.
  2. You can trade Binance and Kraken on Coinrule, the automated trading platform. They provide free templates for crypto trading strategies.

Best App for Crypto Trading

The best app for crypto trading is Binance, as it is a crypto exchange with the lowest fees. The crypto exchange ranks as #1, the best crypto exchange trusted by users worldwide. You can buy and sell Bitcoin, Ethereum, Cardano, Tezos and Binance Coin, and many more with low fees on Binance exchange. It provides the best app for users, from novices to the most experienced. You can trade Bitcoin and other cryptocurrencies with ease using the Binance App, one of the best apps to buy cryptocurrency.

Robinhood crypto does not support BNB coins, as it trades exclusively on the Binance exchange. So buying BNB Coin crypto on Robinhood is not possible. But you can trade on Bitcoin, Ethereum, Litecoin, and many others using the Robinhood crypto app. Webull crypto offers stocks, ETFs, options, and crypto currency trading, but you cannot trade Binance Coin on it.

There are two trade settings in Binance.

Basic: The Basic setting is simple and easy to understand. It displays limited trading information.

Advanced: Expert traders gain access to the market data and all price charts on it. It allows traders to perform complex trades on it. Hence, experienced traders prefer to use this lowest fees crypto exchange with advanced features.

Kinds of Trades: There are three kinds of traders on Binance, which are limit orders, market orders, and stop-limit orders.

How To Trade Binance Coin

Binance is a secure and safe platform where you can buy and sell cryptocurrencies. The buy and sell process is easy to use.

To Buy BNB: Log in to your account by tapping on the right corner of the Binance website. On the homepage, you can tap on any crypto. It takes you to the corresponding page for spot trading.  You have to select from ‘Advanced’ or ‘Classic’. Buy BNB and enter the amount and price to place your order. Press ‘Buy BNB’.

To Sell BNB: Follow the same steps as in buying. You can use the Limit Order or the Market Order. When the market prices come to the order price, your order gets executed.

Payment Methods: You get a wide range of payment options, such as using cash, debit, or credit card and through bank transfer.

Binance Cryptocurrency Exchange:

  • You get access to various financial services such as Binance spot, lending, cryptocurrency futures, and margin trading. You can also earn passive income through Binance Staking and Binance Savings on the best cryptocurrency trading platform.
  • Binance offers some of the lowest fees in the crypto market, as it is a cryptocurrency-only exchange.
  • Beginners can use the buy and sell option, which is easy to use. Advanced traders make use of the in-depth advanced cryptocurrency platforms. There are no charges on deposits, but different cryptos have different fee charges for withdrawal purposes.
  • Binance trading fees come within 0.1% for each purchase or sale. When traders use Binance coin for payment, the fee charged comes down by 50%, which is 0.05%, as it is the lowest fees crypto exchange.
  • US crypto exchanges support only 58 cryptocurrencies, while Binance.com offers around 590 cryptocurrencies. Investors on US crypto exchanges get fewer options in using the Binance.US crypto exchanges.

Ensuring my Binance Coin Trading Is Profitable

Binance exchange, the best crypto platform, offers a long list of tradable cryptocurrencies beyond the popular ones. It offers lower fees than other top cryptocurrency exchanges with more advanced charting. However, advanced users prefer this exchange. Binance US has a limited number of crypto currency trading pairs, while the international version has many cryptocurrencies for crypto day trading.

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Buying Binance Coin Beginners Vs. Professionals

Best Way For Beginners To Buy Binance Coin

If you already have another cryptocurrency, you just have to exchange your crypto coin to acquire an equivalent value of BNB coins.

You should enable the 2FA or 2 Factor Authentication to protect your account from cons, hacks, and scams. You can install an app on your mobile phone, on which you can log.

Binance offers advanced trading charts and is a good option for experienced traders who prefer charting abilities with additional features and data and reasonable fees. Beginners who wish to trade in lesser-known cryptos prefer the Binance crypto exchange as they are easily available.

Beginners can directly purchase select cryptocurrencies with their credit or debit card. They can also deposit with their fiat currencies, such as the Euro. For day trading crypto, you can do paper trading without risking your funds.

How Pros Buy And Invest In Binance Coin

Pros buy and invest in Binance Coin for day trading. Experienced traders require quick execution of trade and fast decision-making while day trading cryptocurrency. Choose trading styles that suit your individual investment goal.

The Binance day trading cryptocurrency offers hundreds of crypto pairs, real-time market data, leveraged tokens, margin trading, and much more for professional traders. You can go to Binance to convert your fiat money into cryptocurrency and start trading.

Tax Liabilities on Binance Coin

The tax framework in each country will provide more clarity on the tax structure. Do not try to evade tax as it may lead to financial penalties.

1. Tax on Binance Coin US

Capital gains and losses come under the tax net. If you receive crypto payments, you will have to pay taxes according to the jurisdiction specifications. It is best to keep track of your capital gains and losses as they are taxable. Pay the right amount of tax because gains from crypto assets are not tax-free.

  • In the US, when you directly spend cryptocurrencies on goods or services and, if you have made profits, you have to pay taxes.
  • If you receive cryptocurrency from mining or fork, or airdrop, you have to pay tax.
  • Report all crypto transactions for tax purposes.
  • All purchases and sales of goods in crypto come under the capital gain tax.
  • Gifts, donations, and inheritances in crypto come under regulations similar to property or cash transactions.

2. Tax on Binance Coin UK

According to Her Majesty Revenue and Customs (HRMC), the guidance on crypto taxes came into being in 2014. The HRMC earmarks that mining, trading, exchanges, payment processes, and service providers are liable for tax payment.

Any profit made on crypto assets held as personal investments comes under the tax net. Deduct all losses from the overall capital gain.

It is best to consult tax professionals to understand the regulatory framework in your jurisdiction, to avoid harsh punishments for tax evasion.

How Much Do You Need To Start Investing In Binance coin?

Binance exchange is simple to use and provides sufficient coins for trade. Both experienced and new traders can trade on it.

You can start trading with just $100 to add BNB to your portfolio.

Binance Coin Investors Summary

Cryptocurrency investing or trading begins with choosing the best exchange that charges the lowest fees and provides a great trading experience.

Binance Coins is one of the best-performing utility tokens used for various payment services. Its unique burndown policy ensures its stability and growth. Thanks to the popularity of Binance as the world’s largest crypto exchange, BNB was the third-largest crypto coin until it was pushed to the fourth position by Tether in 2021. It offers fast transactions at low fees.

Binance faces stiff regulatory difficulties in many countries. It comes under severe cyber-attacks, so be warned before investing in BNB.

BNB has a massive market cap of $83,528,943,191 in September 2021. Experts predict that BNB prices may multiply many times in the future.

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