REASONS WHY I AM BULLISH ON BINANCE
Cryptocurrencies? Digital money? Where can we find them? Where are the banks for these “digital currencies” Well, welcome to my world? In the metaverse, we have centralized exchanges that we use to store our Magic Internet Money. Exchanges are commerce places where you buy, sell, and might even use to store your Crypto. The most common ones include FTX, Kucoin, Coinbase, and Kraken and my personal favorite one that I am writing about today is Binance and why I am Bullish on it being the No 1 exchange soon. Wait! It already is!
To begin with, Binance has its native token which assumes the ticker symbol $BNB which I came to find out days ago (definitely lying) stands for Build ’n’ Build. Surprising huh? Its relative strength vs the rest of the market according to Coingecko is remarkable, declining just -61% from its ATH as compared to:
· BTC: -72.58%
· SOL: — 87.79%
· XRP: — 88.83%
· ETH: -72.60%
· ADA: -85.72%
This just shows how strong the coin is regardless of various market conditions. The Binance coin also grants you exposure to both the exchange and the L1 narrative. It accrues value in 2 ways. Talk about killing two birds with one stone huh? If the Binance Smart Chain fails, $BNB could still theoretically perform well no matter the circumstances.
Secondly, $BNB is also safe and reliable according to Certik. According to Its Web3 Security Leaderboard, the coin ranks first with a trust score of 95.
Binance is now the largest and most established exchange according to Coingecko. Statistics show that it is the biggest crypto exchange by both trading volume and trust score.
Thirdly, It’s hard to bet on the founders of other exchanges but too easy to bet on Chang Peng Zhao directly– the CEO and founder of Binance. He is a great leader who has been working with regulators and politicians globally, spreading widespread crypto adoption. CZ seems to be at the forefront of global adoption, pioneering via both political and institutional efforts. In an ever-evolving regulatory environment, it’s important to back a leader who prioritizes regulation and compliance. CZ also ensures customer security is at the forefront of his team as well as regulations are in place. With all this in place, $BNB rarely has any bad news and all this is possible due to the founder’s spirit and grit to produce what is best for the Crypto community.
Check this out, CZ meets with top politicians and enriches them on Crypto adoption among them are, President Macron of France and President FA Touadera of the Central African Republic as well as the president of the Republic of Kazakhstan Kassym-Jormat.
And lastly, apart from having its coin, Binance also has its stablecoin, one that is also pegged to the dollar, more like USDT. The $BUSD token is issued by Paxos in partnership with Binance. Due to these other stablecoins containing numerous FUD around them, the market demands another trusted stablecoin for use with the definite prospect being $BUSD.
Well, there you have it, folks, for the reasons listed above, I believe that $BNB is one of the best coins for HODL. There are not many coins I’m comfortable holding over a long period but $BNB surely is one of them. It literally covers most of my portfolio.
If you’re not yet started on Binance, do click here to get started.
In a world of risks, market dumps, and losses, $BNB should be a consistent performer with more returns than it is to the downside. We hope to see some moon bags come along with it.