Review of Binance Coin Сryptoсurrency: Benefits for Holders and Prospects for Development

Binance Coin

Binance Coin is a cryptocurrency, which is used on the Binance exchange to provide the most comfortable terms of trade. With its help you can purchase over 200 varieties of digital coins. And here is the first obvious advantage for the investor: if you have BNB tokens on the platform, the commission for trade becomes less by 50% for their owner.

Contents:
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  1. The history of creation of Binance Coin
  2. Purchase and storage of BNB
  3. The exchange rate of Binance Coin in 2018: prospects for development
  4. Conclusion

1. The history of creation of Binance Coin

Binance Coin was originally conceived as an instrument for the trading platform, which technically allowed developing both the cryptocurrency and the platform itself. It should be noted that when it was created, a group of Chinese developers tried to save the token from the problems of most modern cryptocurrencies. Such exchanges often have failures in the system, and this always attracts fans of quick profit, this was the first thing the developers worked on.

They thought that a minor problem is an uncomfortable and slow customer service, which often brings problems during the work of the exchange. Despite all the efforts, the platform often could not withstand such a stream of requests, because, according to statistics, the increase in the number of users occurred in a geometric progression. In figures, it looked like this: on 07.12.2017 the number of users was 1 million, and in 20 days – on 27.07.2017, attendance was already 3 million users.

2. Purchase and storage of BNB

The BNB token is based on the ERC20 protocol, so you can store it on any Ethereum-wallet, as well as on the platform itself, using the functional of the service for payment. Myetherwallet and Mist can be identified among the wallets.

At the moment, you can buy this crypto on your home site and on the centralized EtherDelta platform. The most interesting is that when you buy this cryptocurrency you can count not only on long-term investments, but also on trading with any of the more than 200 cryptocurrencies presented on the exchange, it also gives its dividends:

  1. Using the token automatically reduces commission fees for transactions to 0.05%. All commission fees on the exchange are withdrawn from the BNB account. This was done to attract the maximum number of users. This privilege lasts 4 years and decreases every year from 50% to 6.25%.
  2. A huge variety of cryptocurrencies: from the most famous to the youngest.

3. The exchange rate of Binance Coin in 2018: prospects for development

If you go back a little, then after adding the cryptocurrency to the listing, according to CoinMarketCap, its value was at $ 0.1. However, a little later, it began to grow and reached the peak of its growth on the 24th of January, 2018, passing over the mark of $24.40. Capitalization was $2.4 billion then.

 

Some experts predicted that the coin would reach $45, but soon its value began to fall. The reason for such a development of events was the prohibition of governments regarding cryptocurrencies, and consequently – the decline in interest in them.

The trading volume affects almost all of the cryptocurrencies and BNB isn’t an exception. However, it must be remembered that the exchange constantly buys tokens from investors and burns them until 100 million Binance Coins are destroyed. Reducing the number of tokens is always an increase in their value. BNB was created not as a tool for investment, but as a means for the comfortable operation of the exchange. Any problems with the operation of the Binance Exchange are dragging down the cost of the token.

Taking into account all the aspects above and increasing demand for BNB tokens, experts predict that by the end of the year one coin will cost about $30.

4. Conclusion

Binance is one of the most promising platforms and often tops the ratings of the best cryptocurrency exchanges. On the exchange, you can buy over 200 varieties of digital coins and this number is only growing. Binance Coin positively showed itself after listing, reaching $24.40. Developers are going to destroy 100 million tokens, and this automatically increases the cost of cryptocurrency. This cryptocurrency is very promising; it is a good option for long-term investment, if you exclude all possible force majors with the exchange.

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Malware From The Pirate Bay May Hijack Website To Steal Crypto

The movies downloaded from The Pirate Bay bring a malware to the user’s computer. That was the conclusion reached by a security researcher, with the nickname  0xffff0800 in Twitter. He told that when he downloaded a movie ‘The Girl In The Spider’s Web’ from TPB, a .LNK shortcut with CozyBear malware got to his computer.

However, the Cozy Bear malware is just a decoy, the real thing that brings damages is Powershell commands. Once the malware reaches the computer, it carries out malicious actions, like disabling Windows Defender and installing viral extensions in Firefox and Chrome browsers. Moreover, it edits the appearance of the website on the user’s computer.

The movie is an application itself which links the computer to the external malicious servers.

Source: Bleeping Computer

Moreover, the newly installed viral extensions can modify the JavaScript code and add some advertisements to the main page, like it is shown below.

Source: Bleeping Computer

What is the most dangerous is that the malware can edit the appearance of the web page and add or change the information without the user’s awareness, this ability allows the malware to steal the crypto. For example, if the user open Wikipedia page on a compromised system, he/she is likely to see the message saying “Wikipedia now accepts donations in form of bitcoin” and a ‘DONATE’ sign. All the donations will go to the hacker.

Source: Bleeping Computer

In addition, the malware is able to change crypto wallet addresses provided on the pages. Unfortunately, you will not even notice how the hacker stole your money.

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Cryptocurrency Prices Today, January 18: Cryptocurrencies Are Relatively Stable

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coingecko online platform, Bitcoin (BTC) added 1% over the past 24 hours. The price at the time of writing is $3611 per coin.

Cryptocurrencies are demonstrating both slight increase and decrease:

Bitcoin Cash added 0.61% over the past 24 hours and costs $129 per coin;

Ripple grew by 0.21% and costs $0.32;

EOS increased by 2.72%, and its price is $2.51;

Litecoin gained 1.1%, and its value is $31;

Cardano added 1.62%, and its cost is $0.046;

Stellar gained 2.44% and costs $0.10;

IOTA increased by 5.41%, and its cost is $0.31;

Dash grew by 2.21%, and its price $72;

Monero became more expensive by 0.35% and costs $45.

Over the past 24 hours, Ethereum added 0.66%. The rate of the coin is $123.

The total market capitalization is $122 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, this is $64 billion.

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BitPay Transactions Surpasses $1B in 2018, B2B Payments Records 225% Increase

BitPay is a US-based bitcoin payment provider which has recently announced its financial results of the past year. The company has processed over $1 billion in transactions alone. Moreover, its B2B payments record 225% increase in compare to 2017.

The main reason of such a lift-off is that Bitpay added a lot of new clients, like Dish Networks, HackerOne, and the State of Ohio, as well as many other law firms, data center providers, and IT vendors.

The CEO of BitPay, Stephen Pair, commented on this development:

“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world. To process over a $1 Billion for the second year in a row despite Bitcoin’s large price drop shows that Bitcoin is being used to solve real pain points around the world.”

BitPay mostly supports Bitcoin transactions, however, it also supports payments with Bitcoin Cash, Gemini, and Paxos. During that year a lot of companies had to lay off their employees due to the market situation, yet, Bitpay conversely increased its manpower by 78 percent in the past year.

In addition, BitPay is attractive to the investors, in 2018, it raised $40 million in Series B funding round taking the total raised capital to $70 million.

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Cryptocurrency Prices Today, January 17: Cryptocurrencies Are on the Border of the Red and Green Zones

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 0.8% over the past 24 hours. The price at the time of writing is $3582 per coin.

Some cryptocurrencies slightly decreased, others added in price a little:

Bitcoin Cash lost 2.6% over the past 24 hours and costs $126 per coin;

Ripple dropped by 1.1% and is $0.32 in rate;

EOS added 0.34%, and its price is $2.44;

Litecoin decreased by 2.66%, and its value is $30;

Cardano grew by 1.3%, and its cost is $0.044;

Stellar fell by 1.73% and costs $0.10;

IOTA lost 3.42%, and its value is $0.29;

Dash dropped by 0.52,% and its price is $71;

Monero became more expensive by 1.21% and costs $45.

Over the past 24 hours, Ethereum lost 2.17%. The exchange rate of the coin is $121.

The total market capitalization rose to $121 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, it is $63 billion.

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Crypto Exchange Bittrex Partners With Bitsdaq To Conquer Asia Market

One of the biggest US-based cryptocurrency exchanges, Bittrex, announced that it was partnering with Bitsdaq to open a special trading platform in Asia. This platform will provide different digital assets to the Asian investors.

Moreover, Bitsdaq will operate on Bittrex technology and will be built based on Bittrex’s experience in the blockchain.The platform will allow users to trade various digital tokens, including tokens a available on the Bittrex exchange.

The Chairman and CEO of Bitsdaq, Ricky Ng, said:

“We are honored to bring Bittrex’s extensive cryptocurrency options to the Asia market.….It takes a unique combination of advanced technology and financial expertise to launch an efficient, reliable and secure platform for trading digital assets in Asia. We found the ideal partner to help provide a safe environment for our customers and the entire community.”

In accordance with the statement, the Bitsdaq platform will control a lot of things connected to the management of the platform, such as customer support, marketing, sales and customised development. In addition, it will take care of customer operations.

The day of the launch is yet to be announced, though customers can pre-register for an account on Bitsdaq’s website.

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Coingecko Publishes Its Annual Crypto Report for 2018

The online platform Coingecko published it crypto report for the passed year of 2018, where it analyzed the most important events in the crypto industry, including the market trends, crypto thefts, ICO news, stablecoins, Bitcoin Cash wars etc.

As for the market tendencies, there is no doubt that 2018 was the year of collapse. The total market capitalization decreased by whopping 78.85%, with the main period of decrease falling onto Q4. Meanwhile, the trading volumes remained quite stable.

Regarding the top-5 coins in the rating, they decreased as follows:

  • BTC – by 73%;
  • XRP – by 82%;
  • ETH – by 84%;
  • BCH – by 93%;
  • EOS – by 66%

The largest crypto exchange by the end of 2018, according to the trading volumes, turned out to be Bithumb, followed closely by ZB.com and Binance.

As for stealing cryptocurrency, the estimated money loss from criminals and scammers amounted to around $867.45 million. The biggest crypto theft was Zaif hack which took place in September and resulted in the theft of $23.5 million.

The most popular blockchain platforms for creating decentralized apps became Ethereum, EOS, Steem and Tron.

The synopsis of the stablecoin development in 2018 looks the following way:

Thus, we can definitely see that though 2018 was a hard year for crypto and there were much more downs than ups, the industry is still afloat and developing. Hopefully, 2019 will be a better year.

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