Hey Guys,
Hope you are doing well!!!
If you guys have noticed whenever we buy any altcoin over Binance, Binance cut down on fees from the the bought token. For example while buying IOTA/ADA or any coin, if i bought 21units of the coin and when i check that under Funds option actually it'll be 20.xxxx because Binance has cut down its fees from the units itself.
No problem so far right. I wanted to buy and i bought by paying a small fee. Where is the problem?
Problem is, when i want to sell. You can can't sell your partial units.
That means when you want to sell only whole number will be sold i.e. 20 from above example. That '.xxxx' will always be with Binance. So actual trade will always be with 20 units of that coin.
Isn't it something which they should tell us in confirmation box or something before we confirm any trade. They gonna endup with with billions in such way.
But, here is the solution to this problem i.e. the reason you should buy Binance coin:
- BNB coin remove the problem explained above. Every time you buy, you gonna get whole number only. That means to you gonna sell whole quantity which you bought. You are not going to end-up with locked partials in your account.
- If you pay fees via BNB, you get 50% discount in trade fees.
So, will suggest buy even 1 BNB coin and have it in your Binance account and keep the 'pay fees via BNB' option enabled. It gonna help you lot and save on your funds.
From investing point of view too, there is benefit in investing Binance or any other exchange's coin, as 2018 will be the year for crypto market. Lot of new user gonna enter the market. So these exchanges will always in demand as they are now like they are overloaded and registration are closed in many of them. So, if you hold share in them means you hold their coins you will always have consistent growth in your portfolio as their coins will always be in demand and their price will always increase. Even if market see the downfall, users will rush to sell their coins and there will be transaction fee on sell trade too, so exchanges gonna earn in that scenario too and profits will be shared among all holders. As per me these exchanges will be least impacted by any downfall market trend.
Hope you guys get it and understand the underlying problem while trading over Binance.
If you haven't joined Binance yet, below the link to join:
https://www.binance.com/?ref=12386606
Have a safe trading :-)
[Update] This is not an issue with bigger coins like BTC, ETH, LTC may be some more. They are trade able as partials too. But this is issue for altcoins like IOTA, ADA, Verge, Ripple and all.
Thanks,
Manish