The power of BNB: use it on Binance! ( and save money!)

in #crypto7 years ago (edited)

If you only read a sentence of this post, then it should be this:
If you trade on Binance, buy BNB to get half fees!


I am reading crazy stuff about the insane number of new users that want to join exchanges. So many that a lot of the exchanges are temporarily not accepting new users because...well, they can't handle the flow.

Binance just reached 5.000.000 users after it had reached 2.500.000 just this Christmas. In [an interview] they said that they see as many as 250.000 new sign-ups daily. Take a moment to think of that number.

Hong Kong-based Binance.com is adding “a couple of million” registered users every week, with 240,000 people signing up in just an hour on Wednesday, Chief Executive Officer Zhao Changpeng said in an interview with Bloomberg Television.

What strikes me that so many people dive head-first into crypto and exchange but don't do much research. What they buy, trade or sell is mostly due to hype, rumors and very little actual research. Of course, it's your right and honestly, it's what makes crypto fun. But you should ALWAYS strive to make more profits!
A very good way to make more is to pay less in fees. Joining Binance is a good first step as they have 60% less fees than Bittrex. But you can do even better. HOW?!

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BUY BNB!
BNB is the token they issued and that has many use-cases in the Binance envirnoment. The most important one being:
You pay half fee if you use!!*
HERE is a complete guide on how to use BNB and the benefits. READ IT!

But in essence: from "My account" tick the "pay with bnb" button and get half fee.
As BNB goes up in value, the amount of BNB you use for each trade is so small that 30BNB can last literally months! But you don't need to buy 30 ( which is a whooping 600$ now!) you can simply buy 1. When you run out, buy another.

So many people don't take advantage of this when I ask them that it makes me a bit sad and frustrated. I am all for BINANCE to make a lot of money and all but come on, guys!! USE BNB!!


But there are other interesting things to consider!
For example, as to their whitepaper, BINANCE will buy BNB with 20% of their quarterly profit and BURN THEM until only 100mil BNB remain. For example last quarter they've burned 986,000 BNB. Watch the video below where they burn 2million$ in bnb:

What's crazy about this video is that at today's price this guy burned 19.5 MILLION$!!

Oh boy...isn't crypto just so FUN?!?!

So, with the dwindling supply, and the ever-growing number of people finding they can get half fees with bnb, the price is maybe, only going to go up and up.
Here;s the interesting part. While we do not know when they buyback and burn, given that last they did on 17th OCT, it must be soon. Which means they need to use 20% of the insane profit they made in the last months to buy a lot of bnb. What do you think will this do to the price? <---- guess?


Finally, Binance has great ambitious and BNB is a very importnt part of their grand plans. ICOs on BNB, collateral for margin trading and in the end, paying "gas" on their own mainnet decentralized exchange. It's really amazing but not unrealistic given how much they grew in the last few months. If all ( or even any) of these become reality, it's anyone's guess what this coin can be worth.
That's just an analysis. If you don't care to gamble on this, doesn't matter but if you do any trade on Binance, do yourself a favor and:
BUY some BNB!!

Of course, if you do not yet have an account on Binance:
SIGN UP HERE!
[I will get a small part of the fees that normally go to binance]

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Thanks for the post, went to buy BNB

glad to have helped!!

Absolutely Great experience with Binance , Quick deposits no bs and a good platform. Have been using them for about 4 months!

That's cool! Glad to hear it, it is nice indeed!!

Saving money is always great. Always some fine tips with crypto here @razvanelulmarin, Thank you... my friend. Big Upvote!

saving is making money in my book :D

Your confidence is happy :)

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