AVAX vs BNB compare

AVAX vs BNB Comparison

Marketed as low-cost, eco-friendly, and fast, Avalanche is a blockchain that supports smart contracts similar to Ethereum. Even though it’s still young, there’s a positive atmosphere surrounding the project. 

On the other hand, we have Binance Coin, the official crypto of Binance, one of the leading cryptocurrency exchanges in the world. Even though it has been around since 2015, BNB attracted investors only recently.

If you’re unsure how and where to invest, please read our AVAX vs BNB Comparison.

AVAX Overview

Avalanche was founded in 2020, and it quickly turned many investors’ heads due to the claim that it was eco-friendly, as opposed to some ecology-threatening chains, such as Bitcoin. It was founded by Emin Gün Sirer, a professor at Cornell, along with a company called Ava Labs. In addition to being eco-friendly, Avalanche is also fast, with a claimed throughput of 4,500 TPS.

AVAX is the main coin in Avalanche’s ecosystem. It’s a utility token that helps the platform work, just like ether is the main token of Ethereum’s ecosystem. In addition to that, Avax can be used for staking to secure the Avalanche network and help stakers earn rewards.

BNB Overview

Binance has been around since 2017, and so has Binance Coin, the official cryptocurrency of the exchange. In time, Binance became one of the exchanges with the highest trading volume, but BNB’s value remained relatively low for a long time, despite the platform’s popularity. Nowadays, BNB is one of the most popular cryptos in the world, and it can be used for trading, paying fees on Binance, investing in ETFs and stocks (via some platforms), and more.

Avalanche vs Binance Coin: Which Is Preferable?

Let’s check out the main advantages and disadvantages of Avalanche vs Binance Coin as well as their coins AVAX vs BNB.

First, here are the main upsides of Avalanche (and AVAX):

• It uses unique and innovative technology.
• It’s scalable but without affecting decentralization.
• It allows blockchain interoperability.
• Transactions are fast and affordable.

Of course, it’s not a perfect system, so there are several downsides:

• Small investors may not find AVAX worth it.
• There’s huge competition from other more popular blockchains.

Now, let’s check some of the major advantages of Binance and Binance Coin:

• BNB is one of the best utility tokens as it can be used beyond its ecosystem.
• There’s a unique burndown policy for BNB.
• It’s part of an extremely popular exchange.
• Binance users can use BNB for discounts.

Unfortunately, there are a couple of serious drawbacks:

• It’s a heavily centralized coin.
• Regulators don’t like Binance Coin.
• Several big cyberattacks happened involving BNB.
• Stiff competition with other smart contract cryptocurrencies.

Despite the drawbacks, BNB is considered a less risky investment at the moment, as Binance is one of the leading exchanges and BNB is currently the 4th most popular crypto based on market cap. So, it has a slight advantage in this Avalanche versus Binance Coin comparison.

A Quick Review of AVAX vs BNB Live Price

Investors started buying AVAX massively in February 2021, which resulted in a peak of over $50. That trend continued and even improved throughout 2021, with AVAX reaching an all-time high of $146.22 on November 21, 2021. Despite the current downtrend, it’s safe to assume that AVAX will hold its price long-term.

BNB’s price remained relatively the same from its inception in 2017 until 2021. It was around $20 during that time. However, it started attracting a lot of traffic in February 2021, when it first surpassed the $300 line. And this trend continued from that point on, with BNB reaching $690.93 on May 10, 2021 — an all-time high for the coin. 

Make sure to check the current rates if you decide to go through with an AVAX to BNB exchange.

To Sum Up: AVAX vs BNB

Comparing Avalanche vs Binance Coin is a tough task. Both AVAX and BNB are very popular investment options for many crypto enthusiasts around the globe. AVAX has the potential to explore in the future, thanks to the innovative blockchain protocol that it’s part of. On the other hand, Binance isn’t likely to step down from the throne as one of the leading online crypto exchanges, which means that BNB is also likely to remain relevant in the future.