Binance coin is absolutely 🔥🔥🔥 right now
Binance pulled in more than 1B in revenue in their first 8 months of operations, beating out the largest bank in Germany that's been in business for 148 years!
Binances 200 employees vs Deutsche Bank's 100,000... WOW
It's no secret that cryptocurrency is here to stay,
and within 8 months Binance is already #1 option for crypto trading both in their profitability and speed 1.4M tx/s
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So it's established that Binance is a monolithic force in the crypto exchange game, but what about regulators shutting them down?
Regulators in Hong Kong already did try to put the binders on Binance, so they uprooted and found permanant refuge to the "blockchain island" of Malta. It's safe to say, they are in good standing there.
Okay, so they're huge and they're not getting shut down, but what are the BNB tokens even used for?
Binance has an exchange fee of 0.1%. (In Comparison - Bittrex has a fee of 0.25%) When holding BNB, in your Binance wallet this fee is reduced by 50% and the fee is deducted from your tokens.
This 50% is then reduced annually, person by person, not exchange-wide, as seen below.
To counteract this decline, Binance will burn BNB tokens from their total supply of 200M down to 100M, using 20% of all Binance profits quarterly.
Historically these burns have given hefty boost to the price action as decreasing supply results in increasing price.
This time though, the price bump was caused by Binance upping their referral program to 40% of all transactions!
Get in on it!
BNB can also be used to buy into ICO's that are launched directly on their platform, which I expect to see many of in the very near future.
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As if all of that wasn't enough, what's absolutely fantastic about investing into a crypto exchange is:
Even when the crypto world is volatile, exchanges like Binance still profit.
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I see nothing but green pastures ahead for Binance and BNB and have personally enjoyed consistently using it as a personal "hedge" when the markets are volatile.
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To sign up for Binance, feel free to use this referral code, where 100% of the profits are funneled right back to the Cryptocurrency Investing Community (https://www.binance.com/?ref=10701393)
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Have a great rest of the day, Happy Hodling!