Binance Exchange and BNB Coin Recommendation
After spending a few weeks trading on Binance, I feel the platform is in great position to become one of the largest exchanges by volume. The ability to shift seamlessly between the Basic and Advanced trading interfaces, the transparency of the team, and the concept of providing reduced trading fee's through paying with BNB is unique and a great model for a crypto exchange. It’s also the only exchange distributing NEO GAS and airdropping coins regularly.
I bring up how great the exchange is because I believe the exchanges volume is directly proportional to the value of the BNB coin. If Binance continues to grow exponentially and challenges the largest exchanges in terms of trading volume, look at the potential exponential growth of BNB:
Without the average daily volume the above calculation is prone to huge swings each day, but whatever time frame you use points to BNB growing in value as the average daily volume of the exchange grows.
As only $99m coins are in circulation with $200m total coins, the risk of new BNB flooding the market would seemingly present a risk factor for price deflation. However, given the Exchange’s statement below and their first burn proceeding as planned, this risk is negated.
BNB Statement:
In accordance with our whitepaper, each quarter, we use 20% of our profits to buy back and burn BNB, until 100MM BNB are burned. We have burned 986,000 BNB based on our 1st quarter profits. The burn record is public on the blockchain.
New coins are getting listed almost every day, and I highly recommend acquiring some BNB. If you haven’t already registered for Binance, please use my referral link here: https://www.binance.com/?ref=11032500
Nice article, I was just thinking of getting a Binance account!
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