Buy nance
Binance coin is a good buy (definitely not a "goodbye") and here is why
I've written about Binance Coin (BNB) on many occasions. You already know that I think it is a good investment. As Binance is a (very) popular crypto exchange, it would also be redundant of me to delve too deeply into mundane general knowledge, so I won't.
Buy nance
DEX
Let's start with the obvious, and I've told you this many times before: Binance is going to become a DEX.
Now unless you've been living under a rock for the last couple of years, AND that rock has no internet access beneath it, you would know that DEXs are the future of crypto exchanges. It's all about being more decentralised, less traceable by external entities (like governments and banks), less regulated, more secure etc - DEXs are good!
They do have a few downsides too, things like speed, user friendliness and liquidity tend to suffer. Binance aims to address this by becoming a DEX. Binance is already the most popular crypto exchange, by becoming a DEX it should give DEXs in general a major boost (by boosting investor confidence in them). It should also provide us with a DEX that has excellent user friendliness, liquidity and speed. Most importantly, it should give itself a big boost by taking a large step forwards!
Price movements
Binance received a boost this week when they spoke more about their upcoming move to become a DEX. They released this video titled Binance DEX Preview 2 and it had a substantial effect on the price of Binance Coin. you could also read this STEEM post of theirs.
From https://coinmarketcap.com/currencies/binance-coin/
Of course hype seldom lasts for long, but it is a very good indicator that there are many of investors interested in BNB and just waiting to throw money at it once the DEX arrives (or just before).
BNB
I strongly recommend that if you want any BNB, then you buy it now. Maybe not today, but soon. Today is a rather good day if you buy in BTC as BNB dropped substantially vs BTC and you never know when it may start picking up again. It's dropping both because of a post-hype correction and because of a drop in BTC dollar value. I doubt that it will drop much lower vs BTC, even when the market bottom out. Experience has taught me that it's far better to grab a good deal then to attempt to time the very best deal. Set those "Buy" orders.
The reason to buy BNB is because it will be the native asset on the Binance Blockchain. Expect it to have a large amount of functionality on the platform. The blockchain was already announced in the first quarter of 2018, but has yet to be released. You can expect a testnet first. I think that the release of a testnet will cause another BNB price surge. The correction after that would probably be the final opportunity to buy at a good price, though I think that right now is probably far better opportunity.
CZ
I have stated on numerous occasions how much respect I have for
Changpeng Zhao (the CEO of Binance). I consider him one of the finest minds in the crypto world and one of the few genuine crypto experts.
From https://medium.com/binanceexchange/are-you-committed-enough-to-tattoo-ef2085b0aed5
CZ (as he is more commonly known in crypto circles) wrote a lighthearted post on Medium this week about his new Binance logo tattoo. Read it here: https://medium.com/binanceexchange/are-you-committed-enough-to-tattoo-ef2085b0aed5
Developments
Binance continues to innovate and to move with the times. It's already been more than a year since they left China due to the draconian restrictions placed on crypto during the "China FUD" era of third quarter 2017.
Today they announced their innovative new "sub-account" support. It's a way to have multiple trading accounts linked to one Master account. I see it as a necessary and exciting step forward for institutional cryptocurrency trading. They didn't even require any downtime on the platform to implement it! Well done again Binance!
The holistic view
New like this gets ignored all the time in the crypto world, swept under the carpet while the price corrects after the recent little bit of DEX hype. It's so silly that that happens, but it does. Don't ever try to tell me that all the news and developments of 2018 have already been priced into crypto, because I tell you now with certainty, they have almost all been ignored. When they do finally get noticed we will see a meteoric rise that will dwarf anything we have seen before. Mark my words.
I tell you again: now is the time to buy!
While Huobi also has plans for a DEX, I doubt they are as developed or as good as those of Binance and I also doubt that they will be anywhere nearly as successful. I foresee only the City of Zion NEO-based project "NEX" being any serious competition for Binance, at least for the first few years.
Useful Binance Links:
- Binance exchange: https://www.binance.com/?ref=10191168
- Binance DEX Twitter: https://twitter.com/Binance_DEX
- Changpeng Zhou Twitter: https://twitter.com/cz_binance
- Binance Medium: https://medium.com/@binance
- Binance Telegram: https://www.binance.com/contactUsCn.html#telegrams
- Binance Facebook: https://www.facebook.com/binanceexchangeTwitter: https://twitter.com/binance
- Binance reddit: https://www.reddit.com/r/binanceexchange
- Binance STEEM: https://steemit.com/@binanceexchange
- Binance YouTube: https://www.youtube.com/channel/UCfYw6dhiwGBJQY_-Jcs8ozw
Yours in crypto
Bit Brain
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I opted to get into ZRX a couple of months ago and while it may have not been the best idea, at least it gives me an opportunity to look at BNB with fresh eyes. The positive factor of BNB and the DEXs is that you could actually value them considering "cash flows" as they provide the fuel for transactions when used for purchases and fees. I think Binance will definitely be a leader as it already has been so it will be great to see how they progress!
Oh yes, absolutely. Short of buying and running a masternode which is an expensive and somewhat laborious exercise, I believe the key to success in crypto (i.e. growing your wealth) is to establish passive imcome streams. BNB is really starting to look like one of the best coins for that.