Hello! my name is Daniel, and I want to share with you an experience that I had with Binance token: BNB.
I started making my own research about Cryptocurrencies, Tokens and ICOs last year (2017), and I got stunned by huge amounts of information out there about Crypto. So I tried to study step by step, first Blockchain then Cryptocurrencies and finally Crypto Platforms like Ethereum, NEO, Waves, and so on. I realized the potential of these platforms to help entrepreneurs to get funds via ICOs. Going deep with ICOs I realized that when you buy an ICO you buy “nothing” beacause usually there is no an Minimum Viable Product MVP backing that ICO also they are raising millions of dollars without finding product-market-fit first. There is nothing, it´s just like buying the promise that the Tokens you are getting one day “COULD” be used in the NEXT KILLER APP.
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I got very dissapointed when I realized that the spirit of ICOs is only GREED, but I kept my research on that. Looking for a crypto Exchange I ran out with Binance and I registered. Using that Exchange I found that they have a ERC20 token called Binance coin “BNB”, then I starded studying the project behind BNB, I found Next:
1.- You can use it to trade for other coins, at this time there are more than 50 trading pairs.
2.- You can use BNB on the Binance Exchange for voting on the next listings, I mean if you want that Binance list for example “Santiment” (an ERC20 token), you can vote with your BNB, the token or cryptocurrency that get more votes is listed on BINANCE!!.
3.- You can use BNB to pay for trading fees, and get 50% discount.
4.-You can use BNB to participate in the ICOs that Binance have on its Launchpad.
5.-Binance coin is being burned each quarter, they burn 20% of their profits making this a deflationary system, so over time your BNB tokens get more value.
6.-This is not “ANOTHER TOKEN” this is a especial coin that has a practical use case TODAY.
After studying this I bought my first BNB coins on December 2017 at 5 USD each one, and they have got a good performance so far!! I am a BNB token holder beacause this coin has a professional team.
This is my short experience with BNB token so far, I think that more great news about Binance are coming.