In this article we focus on Binance Coin (BNB) and the reasons as to why it still stands as the best coin to invest in for the rest of 2018. We detail the positive effects Binance exchange offers, the long term prospects of BNB and how addition of trading pairs on Binance helps boost the overall price of BNB.
Binance coin (BNB) has gained massive interest in the media quarters in the past few days as its BNB/BTC pair hit an all-time high this Monday. The Ethereum based token was created by Binance development team to reduce the trading fees on the platform by 50% while offering liquidity to the customers.
In Q1 of 2018, Binance cryptocurrency exchange also reported a larger turnover in profit than most of the top banks in the world. Goldman Sachs, JP Morgan, Deutsche Bank all made less profit than the cryptocurrency exchange. This caught the attention of most investors with
Reasons to invest in BNB in 2018
- Long term prospects
Most of the current crop of investors coming into cryptocurrency investments do it in the hopes of making supernormal profits in a short period of time as the case was back in 2017. However, more and more amateurs in the field are realizing making a quick buck from the market is not as easy as they imagined.
BNB offers most of these amateurs a way out as it increases steadily even during times of turmoil in the market as seen during the recent down turn. As the whole market tumbled below the $300 billion USD mark in the last 30 days, BNB saw its price soar by 36% in the same period.
- Binance cryptocurrency exchange offers a buffer for BNB
Binance is the largest cryptocurrency exchange in the world with daily trade volumes reaching close to $2 billion USD with over 100 pairs to trade in. BNB was introduced by the Binance development team as the exchange’s token of choice back in mid-2017. The BNB coin has consistently climbed to greater heights as Binance gets more customers on the platform.
Unlike Coinbase and other fiat trading cryptocurrency exchanges, Binance exchange is not crippled with increased KYC/AML restrictions allowing it to add coins at its pleasure. With Binance growing in size and customer base, BNB will be the positive casualty as more customers purchase the coin to reduce fees while trading on the platform.
- Increase in number of coins on Binance platform
In the point  we have briefly touched on Binance exchange increasing the overall number of tokens and the overall impact on BNB. In the past 2 months, Binance exchange team has added 15 new tokens to the platform with other new pairs also being listed on the exchange. With the increasing number of coins in the platform, so will the adoption of BNB given the 50% trading fees discount while paying your fees using the token.
With the addition of coins on the platform, BNB has seen an increase of over 50% in the two month period. For any day trader on the Binance platform, having BNB is not an option but a necessity. This increases the overall possibility of higher adoption of BNB token further increasing its price.