The cryptocurrency market activity in 2021 brought a lot of surprises. Following Bitcoin, which set two consecutive price records, many altcoins have pulled up. The biggest winner was Binance Coin, which now ranks third in the ranking of the largest cryptocurrencies by market capitalization.
What is Binance Coin (BNB)
The coin was created to meet the needs of the Binance ecosystem. First of all, BNB allows traders to significantly save on trading commissions, but this is only part of its capabilities. Coin owners can earn simply by holding a certain amount in the account, or use it as a means of payment when purchasing goods and services in the Binance system. The coin is actively traded on many large exchanges, in particular KuCoin, Poloniex, Gate.io. and the BNB to BTC exchange is available not only on his home platform
How BNB works
The coin is a native Binance Chain token. Blockchain creators have managed to solve the scalability and bandwidth issues faced by veterans of the cryptocurrency market. The Byzantine Fault Tolerance (BFT) consensus mechanism is used to protect the network.
The network supports a minimal set of functions and this was done deliberately for the sake of high performance. Although Binance Chain does not support smart contracts, third-party blockchains can be deployed on the backbone.
The creators set themselves the goal of surpassing Ethereum, and some projects have already begun to move to it, the largest of which are the RAVEN PROTOCOL neural network training protocol, the Gtex (GTEX) and Enjin (ENJ) gaming platforms, the CanYa (CAN) freelance network. The further development of the Binance system largely depends on the development of events around the launch of Ethereum 2.0.
How has the price of Binance Coin changed?
The coin was launched in 2017 and began trading at around $ 0.1. There were no dramatic changes in the exchange rate until 2019, when the coin briefly climbed to nearly $ 39. The triumph was short-lived, the price dropped and there was a lull that lasted until 2021.
Since the beginning of the year, the coin has grown, set several successive records, a deep recession and strengthened again in the fall, which was called the “season of altcoins”. Now Binance coin is trading above $ 500 and leading analysts predict its further growth.
Where to change Binance Coin
BNB is actively traded on many major crypto exchanges, where it is available for buying and selling with cryptocurrency and fiat. The most convenient place for BNB operations is its native ecosystem.
However, all traditional exchanges have several common potential vulnerabilities. We are talking about the confidentiality and safety of customer funds in exchange wallets. The larger the site, the more interest it attracts from attackers. The precedents of successful cyberattacks, accompanied by theft of large sums of money, are rare, but they exist in the history of almost all exchanges.
It is for these reasons that it is worth paying attention to the LetsExchange site. There is no need to disclose any personal information here. You just go to any page, open the exchange widget and proceed to the execution of the transaction:
- In the upper field, select BNB for sale and indicate the amount of the transaction;
- In the bottom field, select BTC to buy;
- Enter the address of your crypto wallet;
- Deposit coins.
- Click the “Exchange” button.
The system will take care of the rest. Intelligent search Smart Rate will find and select the most profitable deal for you, the calculator will perform the necessary calculations, and after the exchange is completed, the coins will be automatically credited to your wallet.
Exchange operations are performed without commissions and restrictions on the amount and number of swaps in any of the available directions. If you do not oppose LTC vs BTC for yourself and plan to purchase both coins, you will not have to look for another place. Just repeat the algorithm, choosing the asset you need.
It is very easy, fast and safe to exchange cryptocurrencies with LetsExchange.
