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Not so long ago, I moved to a new exchange of crypto-currencies named #Binance. Binance has his own coin named BNB. The same like the competitor #Kucoin that offers Kucoin shares http://steem.link/LoIUG. Later in this article, we review both coins and their possibilities.
But first:
- What is Binance?
- What is BNB and is it worth to invest in?
- What Benefits does Binance have?
- What are our recommendations for this Exchange/Coin
Ok, first of all, a short intro of #Binance. #Binnance is an exchange that is located in Hongkong (before in China). They offer safety stability and their platform runs on multi devices. With Binance you can trade on high performances servers. The complete website is in Multilanguage. This makes Binance an user friendly exchange. Binance have large trading volumes and deliver a really secure network.
Binance holds the following advantages.
But enough for now. Let’s talk about the important things for you as trader.
Statistics of Binnance (BNB)
Roadmap: -
Whitepaper: https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf
Circulating supply: 99,014,000
Total coins: 199,013,968
Coin price at this moment: $11-14
Compititor: #KCS (read: http://steem.link/ot7sn )
Resitance level (04-01): 0.00069 BTC
Website: http://steem.link/hko1U
Community: https://support.binance.com
Reddit: https://www.reddit.com/r/binance/
Telegram:
Pro’s
- Extremely low fees per trade. Get discount on every trade!
- Binance has a great referral plan that can deliveryou daily profits. More about this later!
- Binance is secure and is not hacked in the past. Binance has a good security team that protects traders from hackers and scams.
- Binance started in China and got a lot of problems. When they go to Hongkong they can grow without any problems. Other exchanges in the US or Europe have a lot of legal issues and cannot grow so fast as Binance.
- Binance has a top-notch team with great future plans.
- Binance listed a lot of coins. And will list many more in the future.
Cons
- Very poor customer service. If you have an issue it takes more than 4-7 days to solve the issue or get in touch with the support. The support doesn’t know the western mentality and don’t know English terms very well.
- They aren’t transparent with BNB burnings and buybacks.
- You can’t turn your currencies back in EUR or CAD
Risks
- When #Binance stops or change exchange fees, #BNB coin can disappear or be worthless. Make sure you always know the risks of a coin. Most exchanges use #Bitcoin for trades. Binance use BNB.
Outside risk:
Recently we found fake websites on Google. When you login to this websites you will lose your details and the hackers/scammers steal all your funds on the account.
Make sure you always visit http:www.Binance.com at the following url:
Binance referral program
Binance has a great referral program that gives you 50% commission on fees in real time. Some large webmasters and marketeers make thousands of dollars with this referral functions. Here an example of the top 3 best rewards.
Binance will pay you for every friend that trades. Note! Binance has issues with scammers and doesn’t accept promotions on Google AdWords and Bing/Yahoo/Baidu advertisements anymore. Don’t waste your money on it.
When you get rewards it looks like below:
You get directly all coins on your accounts. Sometimes it takes some processing time.
If you want more information about the referral program please see: https://support.binance.com/hc/en-us/articles/115002434992-Binance-Referral-Program-Guide
What is the greatest difference between BNB and KCS
- BNB is for paying fees by trades and have no dividends.
- KCS gives you a percentage dividend (used from trading fees) for all coins that they list on.
More about Kucoin and profits can be found here: http://steem.link/ot7sn
Team
Changpeng Zhao is the founder of Binance. He also joined by Yi He a reonwed cryptocurrency evangelist and Okcoin’s co-founder who also joined the Binance Team in 2017. The team has a lot of dedicated individuals, who are well experienced. Some of them come from companies like Accenture, Morgan, Stanley, Nomura and SBI Group.
Binance is run by a group of developers and have also access to abundant resources and partners, chances are that Binance will continue to evolve as the team grows over time thus providing more services
Total score for BNB
Scam score: 5% low (Low risks, but when the exchange will crash or have legal issues the coin will be much lower.)
Totals
Investment advice from our experts: 5,9/10 (Medium investment)
Teamscore: 8,4/10 (Good team with a lot of cultures in it)
Advice for miners: -
Miner conditions: -
Share value: Oversold (4/10)
Has a working product: Yes (7,9/10)
Overall score: 6,55
My advice: After doing research we think BNB will grow the coming years. But, when we compare BNB with KCS we see a lot more profits for KCS. The price is nearly the same but KCS gives a dividend. We think that coins with dividend worth more than coins that will be used as fees. Cause you can also use BTC or other coins for trading fees. When the community will grow BNB will also grow.
The largest issues for BNB and KCS are that the rules can be changed. In that case the coin will worth less. When you trade for short terms it’s a good investment that has been grown the past months enormously. It’s turning stable for the first time in a while.
For all fans and new people on binance we have a quick infographic. Enjoy….!
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