Binance Coin (BNB) is a native token of the Binance exchange. It is used to pay commission fees on exchange and trade in more than 50 crypto pairs. It was initially launched as an ERC-20 token in the Ethereum Blockchain in 2017, it migrated to its own blockchain Binance Chain, in 2019.
Binance coin showed impressive performance on the crypto market and it is one of the largest cryptocurrency exchanges in the world. Many investors hold BNB as a speculative asset, hoping it will appreciate in value overtime.
Drawbacks of Binance coin
Centralization Risks
Regularity Risks
Market volatility
Depends On Binance Performance
Limited Use Cases
Competition
Technical Vulnerabilities
All crypto has their own drawbacks so you should do proper research while investing on cryptocurrency.
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