||Coin Report and Rating||
Coin Report &: Binance Coin (BNB)
Summary
Binance is a coin exchange platform based in Shanghai Cina but has offices internationally and their IP that they are based in is elsewhere to avoid Chinese regulations. It runs on the ERC -20 Ethereum network. It has an active user base already and a coin that integrates into the payment framework of the platform.Binance uses their own coin to pay for fees on their platform which range from withdrawals, trades, deposits and the basics every exchange charges. It’s one of the fastest growing exchanges out to date and it targets more than just the top 3 primary coins. It primarily targets the alternative market.It has a vast array of the most popular altcoins and some of the lesser knowns too. It aims to be the largest crypto only exchange by providing a seamless platform and great user experience.
Team and Advisory
The team they have backing Binance is very experienced. Most of the team previously worked at Bijitech a financial company that specializes cloud-based exchange system.So the experience and expertise backing it are actually quite credible because everyone on the team is seasoned with financial fundamentals and have years of experience in exchange systems. The CEO and CTO have worked with the likings of Morgan Stanley, Bloomberg, and Goldman Sacs.Providing them with trading So they have a very good looking infrastructure of people and experience. Pretty much everyone on the team previously worked at Bijiitech so I see a good team running both this company and coin, with a pretty impressive team that are veterans in the trading space its hard to realize the potential this company could be a gamechanger.
Competition
Binance is a crypto only based exchange which is quite unique because most exchanges out there target the fiat currency and focus on the big 3 (Ethereum < bitcoin, litecoin). Its quite bold but they face much larger exchanges and many more crypto-based exchanges are going to be coming out. Which can destroy them if they have no fees or more of a variety of coins. Binance has the risk of being taken out of business due to either better competition, international regulations etc but I think they have a really unique coin referral program and application of the token. If you refer a person than they trade you get a commission from their fees indefinitely.So if you refer people you can likely trade for no fees because of referrals coming in and potentially making a passive income that can appreciate in value. People, in fact, buy the token before they begin trading because why 50 percent off can amount to a lot if your day, swing or just do long holds no matter what that extra percent can amount to a lot.
Coin Report Rating || 4.5/ 5.0 ||
The rating I would give this company because it is backed by people who are experts, they have an active customer base already purchasing there coin the first thing once they create their account. The company burns their coins which will raise value. The flooding of people to come to the altcoin market is exploding that exchanges cut off registrations temporarily because servers couldn't handle the traffic binance sits at over 4 million followers right now and doesn't look like its stopping anytime soon.
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