The Binance project is known in the market not only as one of the cryptocurrency trading exchange platforms but also as the first crypto exchange that created its digital cryptocurrency. Despite its youth, the Binance Coin cryptocurrency demonstrates growth in market value and capitalization. It may indicate that the prospects of Binance BNB cryptocurrency are good.

History of Binance Coin

Binance Coin entered the cryptocurrency market in the spring of 2017. During its short existence, the coin has managed to gain popularity among users and increase its initial value several times. The use of exchange instruments allows you to maintain the relevance and stability of a digital asset. Also, the presence of interest from investors and players in the cryptocurrency market should be noted. It is evidence of the prospects of the coin, in terms of investment and subsequent profit.

The parent platform of the coin represented by the Binance crypto exchange is distinguished by the high degree of security and stability of the crypto network. The management of the exchange platform believes that by issuing their digital coin, they will be able to increase the stability of the exchange and attract additional users interested in the possibility of making a profit by investing in the Binance coin.

In addition, holders of the Binance coin are subject to preferential conditions and discounts when using the exchange instruments of the crypto exchange, which is an additional motivation for investing in this project. The amount of the discount directly depends on the period of the BNB purchase. When purchased in the first year of issue, the discount will reach 50 percent of the commission of the transaction being carried out, while every year its size will be halved. Five years after the release of the crypt, bonuses to its holders will be canceled.

Benefits of Binance Coin cryptocurrency

The advantages of the Binance coin crypto coin include the following features:

in comparison with competitors, the Binance crypto exchange offers low tariffs for transactions within the crypto platform. At the same time, users, thanks to the use of digital BNB tokens, can further reduce the commission;
the presence of its affiliate program that allows users to receive additional income in close cooperation with crypto exchanges in the field of attracting new users. There are no other similar crypto resources on the market that offer this opportunity;
advanced software engine for processing ongoing transactions. The speed of conducting and processing financial transactions on the exchange directly depends on the quality and perfection of the engine. Binance crypto exchange is capable of conducting up to 1.4 million transactions per second. This metric also differentiates the coin from its competitors, offering similar functionality;
full openness to start cooperation with other digital crypto tokens. Since the beginning, the Binance crypto exchange has offered users a wide range of cryptocurrencies for transactions. Over time, the exchange policy has changed towards supporting operations with popular coins. At the same time, the exchange still conducts transactions with more than three hundred crypto coins, as well as operations to convert them into BNB;
high level of reliability and safety of operations. Crypto-exchange Binance has not survived a single hack to this day. In early 2018, there was an unpleasant incident when attackers managed to gain access to some user accounts. At that time, scammers tried to carry out fraud to artificially inflate the value of little-known tokens. But the team of developers of the exchange platform was able to quickly identify this fraud and prevent its completion.

The listed advantages should give impetus to the project to accelerate its development and popularization among the user audience interested in receiving additional discounts when using the functions of the Binance exchange.

Disadvantages of Binance Coin

If a user is going to invest in this crypto coin, he should take into account the risks associated with the following disadvantages of this digital project:

Although the situation on the Binance exchange is stable, you still need to take into account the specifics of the cryptocurrency market. It is characterized by frequent sharp fluctuations, which can have a serious impact on the popularity of crypto assets and exchange platforms that service transactions using such digital money. Also, there is no need to write off the main competitors of the Binance exchange, which can attract a significant part of the user audience of this popular crypto trading platform. Of course, the listed risks are common for stock exchanges and cryptocurrencies, but they also cannot be ignored before analyzing the feasibility of investing in a BNB coin;
further development of the Binance Coin token completely depends on the decisions made by the management of the Binance exchange. In this case, decisions regarding the exchange are made without taking into account the opinions of users. Therefore, investors are dependent on the opinions and decisions of the leaders of the exchange. This situation does not suit some users who want to invest in this new coin;
Binance Coin cryptocurrency can only be used within the Binance parent exchange. Other exchanges refuse to accept this coin. Therefore, the holders of this crypto asset are dependent on the functioning of the Binance cryptocurrency exchange;
The used source code of the Ethereum crypto coin is now not the most perfect on the market, as there are already more advanced solutions that have several significant advantages. Because of the need to make certain changes and improvements in the structure of the functioning of the crypto network, there is a risk of software errors that affect the stability of the operation of the crypto network;
lack of the possibility of crypto mining, including within the framework of the cryptocurrency pool. It cuts off some of the users interested in the possibility of mining this coin.

One of the tasks of the creators of the BNB crypto-coin should be to eliminate the existing system and software shortcomings, which should help in the future to significantly expand the user audience and increase the level of project capitalization.