How To Get Started In Binance Coin?
How to buy BNB
- Binance Coin could be worth up to $13,836.48 by December 2030. Or, more likely, between $1-2k in the next few years.
- BNB benefits from Bitcoin’s bull run, trading activity at the exchange and a growing DeFi market.
Created in 2017, Binance Coin (BNB) is the fourth-largest cryptocurrency by market capitalisation and has several different use cases.
BNB has a price of $364.55, a market cap of $55,978,029,831, 24-hour trading volume of $3,069,706,555 and a circulating supply of 153,432,897.
In 2021 Binance Coin proved its investment potential and as of June 2021, it has an ROI of 316,436.58%, according to CoinMarketCap.
Before we look at how to invest in Binance Coin, let’s remind ourselves why BNB is a great investment.
Is Binance Coin A Good Investment In 2021?
Yes, Binance Coin is a good investment for 2021. Starting 2021 at $37.44, BNB reached an all-time high of $690.93 by the 10th of May 2021.
Binance Coin rose to prominence in 2021 because of three main factors:
- The bull run led by Bitcoin (like most other altcoins).
- High activity at the Binance Exchange (because of Bitcoin’s bull run).
- Increased activity on the Binance Smart Chain.
Binance Coin has a huge advantage over other cryptocurrencies because we can already see it working efficiently. There are already so many use cases for BNB.
Meanwhile, there are many other projects out there that haven’t delivered much, for example, Cardano. This makes investing in Binance Coin less speculative and risky.
Crypto analysts believe that there is still more to come in 2021.
What Will Binance Coin Be Worth?
Binance Coin could be worth up to $13,836.48 by December 2030, according to Cryptocurrency Price Prediction.
However, while most forecasters are positive, not all price forecasts for Binance Coin are this bullish. Many see Binance Coin being somewhere between $1-2k in the next few years.
Meanwhile, The Economy Forecast Agency estimates a high of $1,223 for 2022 and a maximum of $1,319.
And Gov Capital also foresees Binance Coin to land between this range, giving BNB a one-year forecast of $530.90 and a five-year forecast of $1,189.72.
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What Is The Future Of Binance Coin?
We will likely see a variety of new ways to use Binance Coin as Binance continuously experiments with new cryptocurrency-related products.
An important thing to remember about Binance is that they are more than just an exchange and crypto.
Two key areas we are likely to see more of are BNB staking and the use of the Binance Card. Both of which could increase the value of the coin.
BNB can be staked via BNB Vault which allows holders to lock up their BNB. They can then earn interest on their BNB by lending it out.
Then there’s the Binance Visa Card that converts your crypto into fiat currency when you make a card transaction.
On top of that, we will likely see more DeFi projects launched on the BSC, and Binance Coin will likely remain the glue that keeps all these products together.
Binance is an innovative company that isn’t completely married to the idea of running an exchange.
They are fully aware that they are a centralised exchange and with the rise of decentralised exchanges (DEXs), their days could be numbered.
We will likely see more innovation from Binance in the coming years.
Check Out: Will Binance Coin Make Me Rich in 10 Years
Is Binance Coin The Future?
Though Binance Coin is one of the top cryptocurrencies by market cap, it will not necessarily beat Bitcoin and Ethereum any time soon.
Bitcoin has become a store of value and is incredibly popular. It is predicted that there are approximately 100 million Bitcoin holders around the world.
With so many people invested in Bitcoin, not many of them will want to part their ways and head to Binance Coin. Unfortunately, popularity always wins against a potentially better product.
That said, Binance Coin has a better chance of replacing Ethereum which has been struggling with high fees. The Binance Smart Chain is now seen as a viable alternative to Ethereum’s congested network.
Part of the reason why the BSC did so well in the early part of 2021 was because of the high transaction fees on Ethereum.
So, as long as fees are unpredictable on Ethereum, the BSC’s advantage will remain. But there is a risk that Ethereum 2.0 - Ethereum’s upgrade to proof of stake - could lower fees.
Where Can I Buy Binance Coin?
Here's how to invest in Binance Coin in four steps:
eToro is the best broker to buy Binance Coin from and it can be done in four simple steps.
- Go to eToro’s website and click ‘Join Now’ or ‘Trade Now’ to start the registration process. Enter the required personal information. There are also options to create an account using Facebook or Gmail.
- You will then need to upload a copy of your ID to prove who you are. This is done to prevent fraud and money laundering.
- Once your information has been successfully verified, you’ll need to deposit in a fiat currency. In most cases, the minimum amount is $200 or $50 in the USA, but there are several countries where the required deposit is higher, so make sure you check this!
- Start trading BNB. Navigate to the Binance Coin page and you can start trading.
Alternatively, you can buy Binance Coin from any top cryptocurrency exchange or trade it as a CFD with a broker. Just make sure the service you use is trustworthy!
eToro – Best Exchange to Buy Binance Coin BNB
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
- In June 2021, Binance Coin had an ROI of 316,436.58%.
- BNB reached an all-time high of $690.93 on the 10th of May 2021.
- Bitcoin’s bull run, activity at the Binance Exchange and the Binance Smart Chain bolstered BNB’s price in early 2021.
- Binance Coin could be worth up to $13,836.48 by December 2030, according to the most bullish predictions.
- Most predictions put BNB between $1-2k for the next few years.
- Binance Coin’s value may increase as Binance introduces new use cases.
- eToro is a top-rated broker where you can buy Binance Coin.