The entire crypto community is buzzing about Binance and Binance Coin. As one of the biggest cryptocurrency platforms in the world right now, Binance is at its peak. However, not everyone would agree – some say that this is just the beginning of the Malta-based platform.
When the official reports published the fact that Binance Coin toppled Bitcoin on a global scale, the entire community of cryptocurrency users was aghast. What’s the secret of the new top-performing cryptocurrency and can we expect to see this trend maintain in the years to come? Let’s find out.
Anatomy of the Binance Coin
Binance coin was introduced in 2017 for easier transactions on the Binance trading platform. However, what first started as an ERC-20 Ethereum-based token project, quickly evolved into a cryptocurrency in its own right. Bit by bit, Binance Coin grew in both strength and popularity.
The main appeal of Binance coins lies in the intended use. Binance tokens were created primarily for the uses of the loyalty program, but it didn’t take long before the whole thing caught fire among other users as well. Binance Coin users are given a host of perks: they get discounts for exchange fees and a chance to participate in the referral program on the platform.
However, massively positive predictions for Binance Coin so far come from the dual nature of the currency. Binance Coin shares some of the trading traits that stablecoins hold. Just like stablecoins, it’s both handy for traders as a host of companies have it as a valid payment method. But, the other side of the coin is that the price chart is not fixed. Thanks to the possibility of growth, the users have an opportunity for great speculative profit.
Overthrowing Bitcoin
After just two years of existence, Binance Coin managed to bring down the mighty Bitcoin.
Over the years, Bitcoin, as one of the most known cryptocurrencies in the world, has been dictating the trends in the cryptocurrency market. This year brought good news for Bitcoin, but the overall result is not as bright as it was in previous years. Smaller cryptocurrencies have been pushing and pulling completely unaffected by Bitcoin. One and possibly the biggest reason for that is the rise of Binance Coin.
Nevertheless, what counts the most is the trust of the users. The entire market has gradually matured, so the presence of smaller cryptocurrencies is not as surprising as was otherwise expected. Bitcoin, even with the rise of Binance Coin, will certainly remain the top, the first choice for millions of users around the world.
While other currencies like Litecoin and Ethereum are just showing up in various industries, Bitcoin has been a trustworthy option for years. Finance, technology, entertainment, and especially online gambling are just some of the areas where Bitcoin is popular. You can find a list of the best crypto-oriented casinos, including Bitcoin casinos on BestCasinos by clicking here. Users still believe in Bitcoin, especially as the years of confidence are behind them. And longevity in the cryptocurrency market often proves to be the deciding point. That is why individuals in all spheres opt for Bitcoin without considering other options.
Quick Success: A Good or Bad Sign?
A quick surge in popularity usually means a good thing. The fact that more and more people are turning towards new blockchains and currencies means that we, as a community, are ready to step up the usage of digital currencies in everyday life. But, on the other hand, sometimes a breakneck speed of progress can signal the downfall of the same capacity.
The digital currency market is stabilizing, but right now is still very delicate and fragile. It would take years before the entire community becomes as stable as it is currently aiming to be. Nevertheless, progress is always good – and the rise of the Binance Coin hints at the future of finance and trade in years to come.
As far as predictions go, finance analysists and experts have faith in the future of this coin. Binance Coin is expected to rise in 2020, while predictions for the next 5 years are even more generous. Given the nature of the digital market, looking that far into the future might not mean anything. Be that as it may, it’s obvious Binance Coin is here to stay.
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