In 2021 the amount of virtual coins exceeds several thousands. Modern digital currencies are very diverse from costing less than a cent to tens of thousands of US dollars. Some coins have been on the market for over 10 years, others for several days. The number of coins is rapidly changing in value, while some of them stand still for years or simply disappear. Altcoins are actively growing and all records are beaten by Ethereum and Binance Coin. Despite its youth, Binance Сoin demonstrates indicators of growth with regard to market value and capitalization proving that BNB perspectives are far-reaching.
How Has The Price Of Binance Coin Changed Over Time?
Right after emergence of the Binance crypto exchange in mid-2017, BNB tokens were traded there for 10 cents apiece for some time. However, very soon, the exchange began to expand rapidly, catalyzing demand for its tokens.
In August 2017, on the 45th day of its existence, the exchange announced that it had passed the mark of 120 thousand users and reached $ 189 million in BNB capitalization at a rate of $ 1.9 per token. In December 2017, Binance announced that it has over 1.5 million registered users generating $ 2.1 billion in daily trading volume. And the capitalization of BNB in December 2017 exceeded the psychological mark of $ 1 billion at a rate of over $ 10 per token.
During 2020, the cryptocurrency increased its value more than twice growing by 146% – from $ 15 to $ 37 by the end of the year. However, the real extravaganza happened in 2021 when the bull market began. Within nine weeks, the BNB rate soared 824% and peaked at $ 342. On April 12, 2021 the value of the Binance Coin token reached an everlasting high of $ 638 but in 2 weeks BNB value decreased to $ 537.
Will Binance Coin go up in 2025?
According to the Criptonisation Binance coin price prediction, the BNB rate could open 2025 at $1,928 and close the same year at $ 2,700. The Economy Forecast Agency prognoses the BNB rate in the range of $1,511-$1,739. DigitalCoinPrice.com is also bullish on a much longer time frame. It expects prices to reach $ 836 in 2025 and $ 969 in 2026, allowing BNB to surpass $ 1,000 in 2027.
Binance Coin price Prediction for 2021
Due to a number of experts, cryptocurrency is just entering the mass market showing very good growth dynamics. In 2020, Binance Coin grew by 146% – from $ 15 to $ 37, and in 2021 the cryptocurrency jumped by more than 800%.
The coin has a chance to reach $ 1,000 this year. But on this path, it will face periods of correction, during which the rate will greatly sag. Following LongForecast.com, BNB could break new records in May and grow even more as 2021 draws to a close. A closing price of $ 650 is expected for November 2021 and $ 754 on New Year’s Eve. WalletInvestor.com is taking a much more cautious tone about Binance coin predictions expecting the maximum price that BNB could be as low as $ 334.27 by the end of this year.
How to buy Binance Coin?
The most convenient way is to purchase BNB on the native Binance exchange. How to buy coin on Binance?
To do this, you need to create an account on the exchange and replenish it, and then make a purchase either using an order through the trading terminal or through the quick purchase section. You can make a purchase using a bank card, but for this you have to go through the identity verification procedure first.
Binance P2P peer-to-peer exchange platform enables verified users to buy or sell BNB for fiat. Transactions occur directly from user to user, while Binance acts as a guarantor and provides an escrow account for temporary offline storage of cryptocurrency until the payment is confirmed.
BNB can be bought on other cryptocurrency exchanges like Poloniex, KuCoin, P2PB2B, etc.
Binance Coin conversion is not supported by any trading platform. Godex exchange service is among those ones that support this coin. Having chosen an exchange service that suits you in terms of the exchange rate, reserves and the minimum amount, you need to enter the sending and receiving details, transfer funds in the specified amount to the account provided by the service and get the result to the final account.
What is Binance Coin Used For?
The rise of Binance Coin is surprising as this altcoin has neither a unique blockchain nor a lofty goal to change the world. Binance Coin is a token of the ERC20 standard, and over 500 tokens of the same standard have been created on the Ethereum platform. And its purpose is just to pay for internal transactions on the Binance cryptocurrency exchange. The purpose of Binance Coin is to serve as a “fuel” of the exchange.
How does Binance coin work?
- It can be used for payment of goods and services,and some trade commissions;
- It can be exchanged for fiat, stored on separate wallets, hodled for a new platform;
- It is used as a payment of salaries of exchange employees;
- It is trade like an altcoin;
- It is used in other platforms (Qlink and Skycoin);
- It is subject to coin burning quarterly.
The original emission is limited to 200 million coins. But the company has chosen a promising strategy: every quarter, having redeemed a part of the turnover in the amount of 20 percent of its profits, it burns them. This will continue until there are only 100 million of BNB left. This not only helps to combat devaluation, but also provides an additional reason for growth.
If you do not know how to mine Binance Coin, then we disappoint you by informing you that It is not possible to mine BNB in a traditional way, only to buy.
At the moment, April 27, 2021, it is in the TOP of all world cryptocurrencies on the 3d place:
BNB rate – $ 559,82.
Daily volume – $ $3,552,330,903.
Market Cap – $ $86,394,554,703.
What will Binance coin be worth in 2023?
Many experts forecast the highest Binance Coin value by mid-2022 believing that by that time a complete recovery of the financial market is expected after the consequences of the global pandemic, which will allow investors to more actively sink their funds in a promising cryptocurrency.
Restrictions on the BNB coins turnover on the exchange play an important role in shaping BNB pricing policy. The impossibility of mining has a positive effect on the strengthening of the coin rate.
The unique security system allows users conducting financial transactions anonymously with the maximum level of protection, which is why some people use the system not as an investment project, but as a reliable platform for conducting transactions.
DigitalCoinPrice.com is also bullish. According to the resource, the forecast for Binance Coin stops on $ 569 in 2023. Due to the number of crypto experts, the BNB rate will double by 2024 compared to the value that was at its worst at the end of 2020.
Why is Binance coin rising?
The outlook for Binance Coin turns bullish. We have already witnessed that trading volumes on the site shatter new records, as traders sought to capitalize on new highs in Bitcoin, Ethereum and other coins. Since BNB allows reducing trading fees, the demand for the 154.5 million coins in circulation will presumably grow as the activity of exchange participants increases.
Although many people talk about the flow of investors from centralized exchanges to decentralized sites, the centralized crypto exchanges will take a leading position for a long time to come. Largely due to the fact that holders of large portfolios prefer to trade on them. And the BNB economy favors growth: firstly, there is an increase in the users of the crypto-exchange, and secondly, tokens are burned periodically, which increases their price.
Also, do not forget about the growing Binance Smart Chain (BSC) blockchain. A number of DeFi projects have already moved from Ethereum to BSC to ensure the speed of transactions for their users. Further delay in the launch of the ETH 2.0 update will only fuel interest in the Binance blockchain in 2021.
Is Binance Сoin a good investment?
The cryptocurrency rate is very unstable. It is impossible to accurately predict its rise or fall. Investing in cryptocurrency is always a risk, because the exchange rate is not regulated by the state, political structures and does not depend on other currencies.
Nevertheless, every day more and more people are involved in the purchase of cryptocurrencies. So which coin should you purchase? Investors are advised to pay attention to the most successful projects that have existed for a long time and have proven their competitiveness. But not everyone can afford to invest in Bitcoin or Ethereum. The prospect of acquiring such a currency as Binance Coin is much more substantial compared to conventional cryptocurrencies. Since BNB is backed not just by an inaccurate possibility of implementation in the distant future, but the specific economy of the Binance exchange too.
In 2020, Binance released numerous products, including a mining pool and the Binance Smart Chain, enabling BNB staking and DeFi app development. For 2021, the creators of the asset announced the attraction of new serious participants to the project, including several large South Asian companies engaged in the development of innovative computer technologies.
The use of advanced technologies, high credibility in the face of instability in the financial market, and a reliable security system make Binance Coin one of the most promising investment projects for the next few years.
Good luck, future millionaires.