Ninjastic
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Board Altcoin Discussion
Re: why BNB price Bumping
by
akirasendo17
on 19/02/2021, 16:35:02 UTC
Quote from: Gogo_owner on February 13, 2021, 03:08:14 PM
The definition of BNB:

Quote
Binance Coin (BNB) is a cryptocurrency that can be used to trade and pay fees on the Binance cryptocurrency exchange

https://corporatefinanceinstitute.com/resources/knowledge/other/binance-coin-bnb/#:~:text=Binance%20Coin%20(BNB)%20is%20a,on%20the%20Binance%20cryptocurrency%20exchange.&text=Binance%20Coin%20was%20created%20in,own%20blockchain%2C%20the%20Binance%20Chain.

Why would their price continue to rise if they were designed to make Binance fee cheaper mainly its relative stability.
why price is over 130$ and fees will rise with it?

Uses of Binance Coin

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Trading: Binance Coin can be traded for other cryptocurrencies on various exchanges, depending on the restrictions set by the exchange.
Transaction fees on the Binance Exchange: BNB can be used to pay for transactions on the Binance Exchange, and users also receive a discount for doing so.
Credit card payments: BNB can be the form of payment for crypto credit card bills on Crypto.com.
Payment processing: Merchants can offer BNB as a means of payment for customers, offering more flexibility in payment methods.

Used for Trading, Transaction fees Not Investing

https://coinmarketcap.com/currencies/binance-coin/
Yes, its because of the fee's in binance chain, imagine how big the money you can save with binance, i have tried transferring small funds the fee is so low, and the transaction is fast, while ethereum is the other way around high fee's, and takes longer to transfer, I think binance and tron are the cheapest fees, no wonder binance is taking the spotlight out of ethereum, and if they can't address that issue you can see more movement upward with bnb