I just noticed that withdrawing from Binance using BTC is ridiculously expensive compared to BNB, which is almost nothing. So I was wondering, why am I not using it? Why don't YOU use it? I feel like there is a catch, just don't know what it is.
1) I use USDC to trade. Should I switch over to BNB? Why? Why not?
2) What are the advantages? Is it only to save on fees? If so, would there be any disadvantages that would negate that benefit?
3) Do I have to pair the crypto I'm trading with BNB in order to use BNB to avail the low fees? Or can I just exchange currency for some BNB to hold in my wallet and Binance will use that BNB to pay fees?
BNB is an altcoin. As long as Binance will have success, BNB should be pretty much OK. As soon as Binance will get into difficulties (and you may not be aware) BNB may no longer be OK.
Since Binance is getting at the verge of being banned here and there, they now try to start getting compliant with the law(s). This may be too late, this may be a problem for the customers, or may be just fine. I don't know.
Altcoins are risky. You should know that. All in all, I would not keep too many funds in BNB. But that's my opinion; some do consider it a wonderful investment.
Now, I'm not convinced how many exchanges accept BNB; I expect that they're are much less than USDT.
And at the end, I do keep some money in BNB. But it's under 1$. I keep it for cheaper exchange fees at Binance. For me, that's the only good use for BNB.
I hope it helps. Please do as
you think fit. It's up to
you whether you invest or not.