Is BNB a good investment?

Dale Loughry asked, updated on February 1st, 2021; Topic: bnb
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Many believe that Binance coin is a good investment and one of the safest cryptocurrencies out there. Of course, no one can say this for certain. It is primarily used to pay fees on the Binance cryptocurrency exchange and fees paid in Binance Coin on the exchange receive a discount.

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Ergo, what does BNB mean on Binance?

BNB, or Binance Coin, is a cryptocurrency created by Binance. Binance Coin (BNB) powers the Binance Ecosystem. As the native coin of Binance Chain, BNB has multiple use cases: fueling transactions on the Chain, paying for transaction fees on Binance Exchange, making in-store payments, and many more.

Having said that, what crypto does Binance support? Supported Crypto Currencies Binance has often been praised for its wide variety of support coins. Traders can use the platform for multiple digital currencies, including, but not limited to Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, EOS, Dash, LiteCoin, NEO, GAS, Zcash, Dash, Ripple and more.

Apart from this, what is the spread on Binance?

The spread, which typically narrows as an exchange's order book depth increases, spiked to 7.95% during the March crash but dropped shortly after. It has been in a declining trend ever since. The so-called bid/offer spread is the difference between the best available price to sell or buy something in a market.

Is it safe to leave coins on Coinbase?

Your Money is Secure While it is never 100% safe to your money on any online exchange, Coinbase is one of the safest web wallets you can use. Coinbase keeps almost 99% of their assets in an offline cold storage that can't be accessed — when in cold storage, they cannot be hacked!

5 Related Questions Answered

Can you have 2 Binance accounts?

Account Management You can click the 【Create Sub Account】 button and create up to 1,000 sub-accounts. When you create a sub-account, you will be required to fill in a sub-account email address and password.

What coins are listed on Binance?

Active MarketsRankCurrencyPair
1BitcoinBTC/USDT
2EthereumETH/USDT
3BitcoinBTC/USDT
4XRPXRP/USDT

Is Busd a good investment?

Reasons for Stablecoins not Being a Good Investment Fiat-backed stablecoins are considered to be the most stable of stablecoins, but this stability doesn't make them a very profitable long-term investment and their value is unlikely to increase significantly over time.

What are Binance fees?

Binance charges a fee of 0.1% for all trades. It also offers a 50% discount on fees for trades made using Binance Coin.

What is spread in Cryptocurrency trading?

What is the spread in cryptocurrency trading? The spread is the difference between the buy and sell prices quoted for a cryptocurrency. Like many financial markets, when you open a position on a cryptocurrency market, you'll be presented with two prices.