In 2021, the price of BNB rose 1700% to $690, momentarily taking the place as the third-largest cryptocurrency by market capitalization after Bitcoin (BTC) and Ethereum (ETH).
Binance Coin has a number of advantages over its competitors, including a network that can execute transactions faster than its big competitor Ethereum. And at a much lower cost.
Thus the Binance Smart Chain is more attractive for DApp developers and NFT designers.
Reduced fees for your crypto transactions
You can pay your trading fees on Binance and its DEX using BNB and get a discount of up to 25%. If you are an active trader, using BNB as your base crypto will save you money.
Many big sites accept BNB as payment methods. Among them, travel sites, hotels, but also internet services. According to Cryptwerk, there are nearly 1000 of them. You can use their tool to find them.
Access to Binance’s rich ecosystem
Binance is arguably the most comprehensive crypto platform and holding BNB gives you access to its features. With Binance Earn, you can earn income with many products such as Staking, Launchpool, BNB Vault, and Liquid Swap. These products offer exceptional returns and can be used as a source of passive income.
Spending your BNB with the Binance Card
The Binance Card is a cryptocurrency-powered Visa debit card that lets you use BNB to pay for everyday purchases: groceries, bills, and more. BNB can be spent at over 40 million merchants around the world.
Alm Maye has been a trader and analyst since 2013. He is an expert in equity markets, Forex and cryptocurrencies. He is the creator of Almvest.com and Imveste.com, two sites dedicated to personal finance. He participates in the development of feature articles on specialized sites such as Actions-boursieres.fr, as well as the international network of Finixio.com.