BNB

SuccessfulLowDev

BNB is a long way off a rug

ftball21

Which dumps first: Solana BNB

RICCO1400

No it’s within the Binance app. Binance isn’t letting me withdraw BNB to me trust wallet (gives me error codes) , so the rep asked me to provide my trust wallet address I’m trying to withdraw to. I can share that address ?

ZulkarnaenRafif

>So you would commit a $15 billion fraud and not give your family fuck all? Even if they already were doing well? (I didn't know they were lawyers but explains alot) I would if that money is just penny change. That was dirty money, at least have some courtesy to clean it first before the authorities come knocking on their parents' mansion. >Never said everybody should steal Why? Cryptobros seems to be okay with it. I'm not. But it is what it is. Stealing in cryptocurrency is only consequential if it makes the news. For each Mt. Gox level scam, there's small fuckheads actually make copy paste shit coins with some dipshit actually bought to it thinking it will go up to the moon. Not all, but a few can reach millions. But for a copy paste job in BNB with a little bit of logo design? Yeah. >Also is there any proof the $1 million is customers funds? How do you prove that $1 million is *their* fund? Other than that, I get it that dirty or clean, you kinda want to give your relatives some cash first.

rocasv

No much analysis needed, it is dead, BNB is now accepted into OpenSea and taking solana’s NFT market… big pockets investors just move to the next new thing cause they only care about ROI

One_Neat2012

As of today you can now transact directly on BTC, ETH, MATIC, BNB and ATOM directly from the Internet Computer.

Oheson

Solana is as dead as ETH was in 2017 when it went from $1000 to under $100. It is up with ETH and BNB on the most transactions, developer network, and NFTs. The earlier technical problems were caused by FTX forcing fraudulent transactions and not because of its technology. When the dust settles and Solana once again becomes the market leader price-wise, this sub will once again be wondering “WTF is going on with Solana?” Don’t say you didn’t know. Just so I can come back to this post later, let me add that the Solana price right now is $13.77.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by Tritador which won 3rd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > If I were a big cryptocurrency company that wanted to make money off of cryptocurrency inventors, the first thing I would do is create my own crypto. Then, I would give investors all kinds of incentives to accumulate and use it. Then, I would use the money they paid me to buy myself lots and lots of real crypto. > > Enter Binance and its beloved Binance Coin (BNB). > > Somewhere along the line, the world forgot that the coolest aspect of cryptocurrency is that the currency is decentralized. Not just digital, but actually decentralized. If all the crypto-universe cared about was digital money, we have that already. We swipe plastic cards to buy things, and signals get sent on the internet to move electrons around between bank computers. > > A centralized coin created and maintained by a cryptocurrency exchange is hardly any different than any other company letting you buy, use and trade digital points, be it Reddit, Roblox, or even your latest Amazon gift card you deposited in your Amazon account. > > BNB is a travesty simply due to what it is. Any utility or value the coin has stems entirely from the uses Binance creates for it, which means the value of the coin can easily be driven by factors other than actual investor interest and prices in order books. > > Instead of buying intermediate "crypto" created by an exchange, why not use that exchange to buy real crypto? ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

tislam55

I'm glad to see that Ankr got ahead of this quickly. In summary: Ankr bolstered security because of this. Only BNB contract was impacted. No other liquid staking tokens or Ankr products were affected. Ankr’s validators, RPC API, and AppChain services are not impacted. No user funds were impacted. $5M in BNB is being bought by Ankr and distributed to the impacted LPs.

jalemize

Bear Market is the greatest opportunity to study crypto, I buy BNB twice around 200 in 2 years and Belive me it's gives me good amount of profit, Keep an eye on Top 5 or 10, Check ✅ there graph how they perform during bear Market , it's give you a great Idea 💡 Most Important: REMEMBER BUY LOW SELL HIGH

PrimarySwan

The sad thing is mainly people like you and I would suffer. I don't have my stuff on Binance anymore but if BNB imploded it might just take Binance with it and that would terrible for average investors. But yeah... imagine total collapse, BTC below 1, ETH below 200, Algorand as good as free... I would shit myself and sell anything I have of value and max a credit card. I'll either be stinking rich by my 40s or in debt.

Raaljebuzeth

If BNB goes down, dunno if it will come back up. The knock on effect would be, as you say, a catastrophe but, yes, I agree, this is where in the tier 1s money is to be made.

HylissickOP

What a shitpost. Seriously if you do it on your own it’s pointless? Telling this here won’t be enough for you to short BNB? The other reason are you getting paid ? Cuz a random reditor with a shitpost is nothing. Especially in here where people actually read about the subjects you talk about and it’s not your random crypto friend.

FourthBlatta12

I have the small amount of the BNB that too for the transaction.

Freshysh

Don't expect BTC to stay dominant forever. Eth/BNB is way better choices. But what do I know? Only hold 70 moons

Raaljebuzeth

BNB, going down, sir?

ETHBTCVET

VET did a nice run during the bull, if you're a shitcoiner - holding anything besides BTC then you shouldn't be laughing as any shitcoin besides BTC, ETH and BNB dropped like a stone.

CointestMod

#Crypto.com(CRO) Pro-Arguments Below is an argument written by IAmGiff which won 1st place in the Crypto.com(CRO) Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > CRO or Crypto.com coin is the native currency of the Crypto.com app, exchange and blockchain. At time of writing, it’s [\#17 by market cap](https://coinmarketcap.com/). > > To begin, the coin is inextricably linked to the fate of the parent company (which is officially named Foris DAX MT (Malta) Limited and was founded in 2016). The coin’s primary purpose is to support the company’s various initiatives, and the success of those initiatives is what would drive adoption of the coin. For the purposes of pros and cons, I don’t think it’s necessary to make sharp distinctions between the coin and the company. > > **Pros** > > I’ll start with three priority areas outlined in their whitepaper: payments, trading and financial services. In [their own words](https://crypto.com/images/crypto_com_whitepaper.pdf): *“Our strategy is to leverage* ***payment solutions as the primary tool for driving adoption and user acquisition****, while building* ***trading and financial services solutions as the major sources of revenue****.”* > > **Real-world payments** > > The company has two major crypto-related payment initiatives. One is a Venmo-like **Crypto.Com Pay** feature. For merchants, the payment system offers lower transaction costs than typical interchange fees and instant settlement. For consumers, there’s a strong “cashback” program. (Despite the potential, it’s unclear how much uptake there is at this point.) > > The **Visa pre-paid debit cards** are becoming fairly ubiquitous. In the U.S., these are issued by Metropolitan Commercial Bank (a New York State chartered bank & member FDIC). They offer some of the best rewards of any card on the market. There’s a tier system, progressively requiring higher investments in CRO to get to higher tiers, that people seem to find motivating. Many people love the design. There’s lots of information about how they work so I won’t repeat it here. Key point is they're indeed popular. > > The most important point (that’s often oddly missed in this discussion) is the cards give you a fast and efficient crypto offramp. Some cryptos can be loaded directly onto the card. Others you have to take the 3-second step of converting to USD or a stablecoin and then loading the card. Either way, you can start with crypto and buy almost anything IRL in a few seconds. > > **Trading** > > In many countries, crypto.com is a full-service **exchange**. In the US (where I’m based) it’s only an app for now although there are plans to open a full exchange eventually. The exchange is ranked #9 by [Coinmarketcap](https://coinmarketcap.com/rankings/exchanges/) although it’s ranked as high as #4 by [Coingecko’s methodology](https://www.coingecko.com/en/exchanges). Recently their spot market volumes are about 20-25% those of Binance but about 80-90% those of Coinbase. (They are a smaller player for now in derivatives, although that could change if they were able to tap the US market.) They support slightly more cryptos than Coinbase, although nowhere near as many as Binance. The fees are apparently cheaper if paid in CRO, which is a driver of utilization. I can't try it out yet myself. > > The **app** is a limited experience but easy to use. If you set-up an ACH push to fund your account there’s no fee to load money onto the app, and card fees are also waived for your first month. Long enough to get many new users hooked. (Although it appears there’s no fees to buying the crypto, there’s in fact an opaque and variable spread fee; more on this in my cons post). If you’re just trying to buy and hodl crypto on an exchange, spread won’t kill you. If you want a gentle introduction to buying your first $100 of Bitcoin, this will work well enough. At the moment I just checked, you’d get $99.6 of Bitcoin for your $100, so that's 0.4% in spread. > > **Financial Services** > > Their **Crypto Earn** and **DeFi wallet** programs are attractive for new crypto users, and allow users to progressively pursue more complicated investing strategies. Crypto Earn is the custodial option on the app, which offers a simple way to earn fairly high interest rates on many coins. > > Their DeFi wallet is a more advanced non-custodial option, with the ability to contribute to CRO validator’s staking, or to participate in liquidity pools. (There’s also a lending program but I’m not familiar with it.) > > ***In sum***, the crypto.com financial ecosystem is not 100% there yet (especially with no US exchange), but it’s the closest thing I’ve seen to a full-service crypto-based financial services provider, and you can imagine a not-too-distant future where, for some people, the company’s offerings would be complete enough that you could ditch your bank entirely without jumping through enormous hoops. In this world, of course, there’s lots of reasons people will be buying CRO. > > **Marketing** > > Many people are very hyped that Crypto.com does a lot of marketing which should benefit CRO and perhaps cryptocurrency in general. You may have heard there's a Matt Damon commercial and a basketball arena in LA. I'm aware Cointest rules say not to focus on marketing, so I'll just make a quick observation. I’ve seen some people say, “oh this is just hype etc.” but if you look at the traditional asset management space, Charles Schwab has a market capitalization of like $170 billion and the primary differentiator between it and other asset managers is really just that Charles Schwab carpetbombs the airwaves with marketing. Marketing does matter in consumer financial services. > > Cointest rules say not to base arguments on price either (Charles Schwab's market cap is NOT a price prediction btw, sorry y'all!) but it’s also relevant to briefly note here that CRO’s marketcap is about 1/6th of BNB’s, so many people believe there’s still upside to this set of observations. > > **Regulation & Security** > > Crypto.com advertises that it works hard to comply with regulation. As a publicly-traded company, so does Coinbase, of course, but the regulatory-compliant approach is quite a contrast to Binance, for example. [Crypto.com](https://Crypto.com) claims to be the first crypto company to have various levels of ISO compliance, [https://crypto.com/images/crypto\_com\_whitepaper.pdf](https://crypto.com/images/crypto_com_whitepaper.pdf), etc. Philosophical arguments about regulation aside, the relevance to CRO is I think it’s fair to say these efforts at compliance probably reduce (but don’t eliminate) the risk of countries swooping in and hammering the exchange or the coin. > > **CRO technical details & tokenomics** > > There were originally 100 billion CRO, but [70 billion were burned](https://blog.crypto.com/70-billion-cro-to-be-burned/). Most people expect the 30 billion supply to continue in the future. There’s currently about 25 billion circulating with the remainder primarily being distributed overtime as validator rewards. These rewards encourage decentralization of the network by giving people an incentive to act as validators. Some people see that as a philosophical plus, but this is still a coin that's very dependent on the company. > > Although the supply is fixed at 30 billion, it’s worth noting that even in the absence of future burns, the supply on the market could fluctuate considerably if the company built up or ran down its holdings. > > Another factor that some consider favorable is that the Visa cards require people to make progressively larger 6-month stakes for higher tier cards (and keep the stakes to retain the card benefits). Therefore, if the number of cardholders increases, an increasing amount of CRO is tied up and unavailable to be dumped. > > CRO successfully migrated from ERC20 to the Crypto.org Chain Mainnet earlier this year. The company has also very recently launched the [Cronos Chain](https://cronos.crypto.org/docs/chain-details/introduction.html) which is compatible with the Ethereum Virtual Machine and is thus an option for developers to connect Crypto.com users to Ethereum projects and apps and so on. This is interesting to follow, though I think the main reason to invest in CRO for now is if you believe in the company’s vision for executing its financial services offerings. > > **Betting on the sector** > > Finally, there’s a philosophy behind betting on CRO that’s worth mentioning. With apologies to everyone with WAGMI tattoos, there’s over 16,000 cryptos tracked by CoinMarketCap. It’s very difficult to imagine that the majority of these will thrive in the long-term. Some will fade away, new (and often better) ones might arise, etc. > > When you bet on an exchange coin you’re partially placing a bet that demand for buying and trading crypto will continue (at that exchange), but you can be otherwise agnostic on which individual technologies and coins are the best. What’s the best chain for dApps? I have no clue. But I think we’re likely to have dApps in the future and people will want to trade the related currencies and use their crypto. So a nice way to bet on this agnostic view is to invest in exchanges, rather than trying to guess which projects are best. > > **Disclosures:** I’m an Indigo card holder, but don’t hold CRO other than for the stake. I’m personally bullish on cro but I have a lot of cons about it too. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/sife3c/coin_inquiries_cryptocom_proarguments_february/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_crypto.com.28cro.29) to find arguments on this topic in other rounds.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by Tritador which won 3rd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > If I were a big cryptocurrency company that wanted to make money off of cryptocurrency inventors, the first thing I would do is create my own crypto. Then, I would give investors all kinds of incentives to accumulate and use it. Then, I would use the money they paid me to buy myself lots and lots of real crypto. > > Enter Binance and its beloved Binance Coin (BNB). > > Somewhere along the line, the world forgot that the coolest aspect of cryptocurrency is that the currency is decentralized. Not just digital, but actually decentralized. If all the crypto-universe cared about was digital money, we have that already. We swipe plastic cards to buy things, and signals get sent on the internet to move electrons around between bank computers. > > A centralized coin created and maintained by a cryptocurrency exchange is hardly any different than any other company letting you buy, use and trade digital points, be it Reddit, Roblox, or even your latest Amazon gift card you deposited in your Amazon account. > > BNB is a travesty simply due to what it is. Any utility or value the coin has stems entirely from the uses Binance creates for it, which means the value of the coin can easily be driven by factors other than actual investor interest and prices in order books. > > Instead of buying intermediate "crypto" created by an exchange, why not use that exchange to buy real crypto? ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

coinfeeds-bot

tldr; A trader managed to gain $15.5 million by making their way through the Helio Protocol platform. The trader bought 183,885 aBNBc with only 10 Binance Coin (BNB) after the Ankr exploiter dumped 20 trillion BNBc tokens. They used the funds as collateral to borrow 16 million HAY tokens and exchanged HAY for BUSD. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Blooberino

Binance/BNB failing will have an enormous ripple effect on the whole marker.

Blooberino

I think the biggest takeaway is that BNB actually has a broad utility and that will keep its value afloat.

Metazoa89

TLDR: >According to Lookonchain, the trader bought 183,885 aBNBc with only 10 Binance Coin (BNB) after the Ankr exploiter dumped aBNBc. > >After this, the trader deposited the aBNBc into Helio Protocol and used the funds as collateral to borrow 16 million Helio Protocol (HAY) tokens. In the end, the trader exchanged HAY for 15.5 million Binance USD (BUSD).

Metazoa89

>As the BNB Chain-based protocol Ankr was exploited and the hacker dumped Ankr Reward Bearing Staked BNB (aBNBc) tokens, a trader took advantage of the price discrepancies to **turn $2,879 into $15.5 million**. Feelgood

CointestMod

#Binance Coin Con-Arguments Below is an argument written by Tritador which won 3rd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > If I were a big cryptocurrency company that wanted to make money off of cryptocurrency inventors, the first thing I would do is create my own crypto. Then, I would give investors all kinds of incentives to accumulate and use it. Then, I would use the money they paid me to buy myself lots and lots of real crypto. > > Enter Binance and its beloved Binance Coin (BNB). > > Somewhere along the line, the world forgot that the coolest aspect of cryptocurrency is that the currency is decentralized. Not just digital, but actually decentralized. If all the crypto-universe cared about was digital money, we have that already. We swipe plastic cards to buy things, and signals get sent on the internet to move electrons around between bank computers. > > A centralized coin created and maintained by a cryptocurrency exchange is hardly any different than any other company letting you buy, use and trade digital points, be it Reddit, Roblox, or even your latest Amazon gift card you deposited in your Amazon account. > > BNB is a travesty simply due to what it is. Any utility or value the coin has stems entirely from the uses Binance creates for it, which means the value of the coin can easily be driven by factors other than actual investor interest and prices in order books. > > Instead of buying intermediate "crypto" created by an exchange, why not use that exchange to buy real crypto? ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by SoonMoonn which won 3rd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > (Using my Arguments from the previous round) > > **BNB (Binance Coin)** > > BNB also known as Binance Coin, is a crypto that powers the Binance Chain. Similar to ETH for the Ethereum Chain. It is currently ranked 3rd by market cap. > > Pros- > > **Binance** > > Binance is the largest cryptocurrency exchange by a far mile. According to coinmarketcap.com (as of 28/12/2021) Binance has 5x more volume than Coinbase (2nd on the list). > > The success of BNB is relative to the success of Binance as shown by BNB being the largest crypto apart from BTC and ETH. Just like how Binance is the biggest crypto exchange. > > **Benefits of BNB to Binance Users** > > • ⁠Discount on Trading fees > > • ⁠Turn dust (small amounts of crypto) to BNB > > • ⁠Buy Gift cards on Binance > > **Binance Smart Chain** > > Binance Smart chain is one of the largest crypto chains. > > It has low fees compared to its competitor Ethereum. Which is why a lot of people prefer to use the chain. > > BNB is needed for gas fees. > > Binance Smart Chain is also home to many memecoins / new coins. > > You can buy pegged Bitcoin / Ethereum on BSC and can hodl / exchange it without wasting money on gas fees. > > **Conclusion: BNB has proved itself of being a worthy crypto, being in the top 5 for most of this year. It’s backed by the biggest crypto exchange and provides many use-cases to it’s users.** > > **BNB is also needed for Binance Smart Chain, many users prefer that due to the low gas fees and variety of options.** ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

Umarzy

It's actually a good time to buy BTC/ETH/BNB since those are off 70% from their ATHs, so it's a good deal right now. You should keep mining, it's still profitable, so your strategy is okay. However, it's always key to take profits on your investments. If anything, capital preservation is key, and there are other assets you can stake to earn decent & sustainable yields- Cosmos, Near, Cartesi are POS chains with 11-20% APR in annual return.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by Tritador which won 3rd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > If I were a big cryptocurrency company that wanted to make money off of cryptocurrency inventors, the first thing I would do is create my own crypto. Then, I would give investors all kinds of incentives to accumulate and use it. Then, I would use the money they paid me to buy myself lots and lots of real crypto. > > Enter Binance and its beloved Binance Coin (BNB). > > Somewhere along the line, the world forgot that the coolest aspect of cryptocurrency is that the currency is decentralized. Not just digital, but actually decentralized. If all the crypto-universe cared about was digital money, we have that already. We swipe plastic cards to buy things, and signals get sent on the internet to move electrons around between bank computers. > > A centralized coin created and maintained by a cryptocurrency exchange is hardly any different than any other company letting you buy, use and trade digital points, be it Reddit, Roblox, or even your latest Amazon gift card you deposited in your Amazon account. > > BNB is a travesty simply due to what it is. Any utility or value the coin has stems entirely from the uses Binance creates for it, which means the value of the coin can easily be driven by factors other than actual investor interest and prices in order books. > > Instead of buying intermediate "crypto" created by an exchange, why not use that exchange to buy real crypto? ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lzs/top_10_binance_coin_conarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by dexe678 which won 2nd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

allora11

Well that's not good for the BNB, shit keeps on happening here.

ChemicalGreek

I mean, what did you expect?😂 I would not be surprised that this token was also on the BNB chain.

Escobrat

BNB 2 the 🌚

CointestMod

#Binance Coin Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by SoonMoonn which won 3rd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > (Using my Arguments from the previous round) > > **BNB (Binance Coin)** > > BNB also known as Binance Coin, is a crypto that powers the Binance Chain. Similar to ETH for the Ethereum Chain. It is currently ranked 3rd by market cap. > > Pros- > > **Binance** > > Binance is the largest cryptocurrency exchange by a far mile. According to coinmarketcap.com (as of 28/12/2021) Binance has 5x more volume than Coinbase (2nd on the list). > > The success of BNB is relative to the success of Binance as shown by BNB being the largest crypto apart from BTC and ETH. Just like how Binance is the biggest crypto exchange. > > **Benefits of BNB to Binance Users** > > • ⁠Discount on Trading fees > > • ⁠Turn dust (small amounts of crypto) to BNB > > • ⁠Buy Gift cards on Binance > > **Binance Smart Chain** > > Binance Smart chain is one of the largest crypto chains. > > It has low fees compared to its competitor Ethereum. Which is why a lot of people prefer to use the chain. > > BNB is needed for gas fees. > > Binance Smart Chain is also home to many memecoins / new coins. > > You can buy pegged Bitcoin / Ethereum on BSC and can hodl / exchange it without wasting money on gas fees. > > **Conclusion: BNB has proved itself of being a worthy crypto, being in the top 5 for most of this year. It’s backed by the biggest crypto exchange and provides many use-cases to it’s users.** > > **BNB is also needed for Binance Smart Chain, many users prefer that due to the low gas fees and variety of options.** ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

DrPechanko

As long as its around the 2025 In good, so I can dump that garbage BNB eth copy pasta off a cliff.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2b3t/comment/he59nit/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 07.10.2021 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Cons > > **BNB is centralized** > > The biggest downside of BNB is that it goes against the core principle of cryptocurrency – it’s not decentralized. BNB network is secured by **only 21 nodes/validators** when for example ETH has around 9 000 nodes/validators. > > But that’s not all. In order to become a validator, one must own 10 000 BNB coins. Since April 2021, the price of BNB fluctuates mostly between $300-$400. That means a validator-to-be has to invest more than $3 million. Validators also need cutting-edge hardware and very good internet connection but this shouldn’t pose a problem for someone who has more than $3 million dollars. > > Also worth pointing out is the fact that **more than 80% of BNB is either owned or custodied by Binance** and top 100 wallets hold more than 70% of BNB (compare to around 40% for ETH or 16% for BTC). > > ​ > > **The future of BNB depends on Binance** > > BNB is not only centralized but it also depends heavily on the success of Binance. If Binance was to become less popular, BNB will most probably be also affected. Lately, Binance is having regulatory problems in several countries, most notably in the US, the UK, Japan and Thailand. > > Binance is also under constant threat of being a victim of hackers. In May 2018, it was hacked and 7 000 Bitcoins were stolen. Any Binance security breach is sure to affect the price and future of BNB. > > ​ > > **Regulatory scrutiny and ongoing investigations against Binance** > > Regulators in many countries decided to warn against trading on Binance, banned it from certain activities (e.g. derivatives) or even banned it completely. Some of the banks have blocked their customers from making payments to and from Binance. > > In May 2021, the Justice Department and Internal Revenue Service informed that Binance Holdings is **under investigation for money-laundering and tax evasion**. > > It is also probed by the Commodity Futures Trading Commission (CFTC) over concerns that its employees exploited access to data on millions of transactions (market manipulation and insider trading). > > ​ > > **Binance Smart Chain – blockchain of copycats and scammers?** > > BSC is a copy of Ethereum and as such it’s also full of projects that copy ETH projects. BSC’s Pancakeswap copied ETH's Uniswap, Alpaca Finance copied Yearn Finance, yieldwatch copied Zapper and so on. And then there are copies of those copies. **BSC doesn’t offer too many original and innovative projects.** > > BSC is also very popular among “developers” (read: scammers) whose only intention is to get rich quick. It’s hard to keep up with how many BSC projects got “hacked” (read: rug pulled) and the chain is only one year old. > > This slowly makes more and more people skeptical about BSC. > > ​ > > **Rules can change at any time** > > Binance can change their policy at any time. Take for example the discount users get when paying for transactions with BNB. According to the whitepaper, the discount was to be halved every year but in 2019 Binance decided it wants to keep the discount at 25% and resigned from further halvings. This is of course positive for users but **nothing stops Binance from making less positive changes** in the future. > > (I also found information that Binance has changed the rule regarding quarterly burns in their whitepaper v2 but I couldn’t verify it as whitepaper v2 is nowhere to be found.) > > ​ > > **Ethereum 2.0 and other competitors** > > Successful upgrade of the Ethereum network might make BSC less attractive. When Ethereum has competitive transaction fees, the main advantage of BSC will be gone. If most developers work on Ethereum now, despite ridiculously high fees, **BNB may suffer a serious hit** when those fees are finally lowered. > > And there are more rivals on the horizon. Recently, Cardano successfully launched their smart contracts. Solana is becoming popular. There is also Polkadot, Avalanche, Algorand, Terra… The competition is growing and a centralized project like BNB might not survive in a decentralized world of cryptocurrencies. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Sources:)** > > [^(https://www.binance.com/en/support/faq/115000583311)](https://www.binance.com/en/support/faq/115000583311) > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

Raaljebuzeth

An interesting take on BNB. Gives me good for thought

CointestMod

#Binance Coin Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2b3t/comment/he59nit/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 07.10.2021 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Cons > > **BNB is centralized** > > The biggest downside of BNB is that it goes against the core principle of cryptocurrency – it’s not decentralized. BNB network is secured by **only 21 nodes/validators** when for example ETH has around 9 000 nodes/validators. > > But that’s not all. In order to become a validator, one must own 10 000 BNB coins. Since April 2021, the price of BNB fluctuates mostly between $300-$400. That means a validator-to-be has to invest more than $3 million. Validators also need cutting-edge hardware and very good internet connection but this shouldn’t pose a problem for someone who has more than $3 million dollars. > > Also worth pointing out is the fact that **more than 80% of BNB is either owned or custodied by Binance** and top 100 wallets hold more than 70% of BNB (compare to around 40% for ETH or 16% for BTC). > > ​ > > **The future of BNB depends on Binance** > > BNB is not only centralized but it also depends heavily on the success of Binance. If Binance was to become less popular, BNB will most probably be also affected. Lately, Binance is having regulatory problems in several countries, most notably in the US, the UK, Japan and Thailand. > > Binance is also under constant threat of being a victim of hackers. In May 2018, it was hacked and 7 000 Bitcoins were stolen. Any Binance security breach is sure to affect the price and future of BNB. > > ​ > > **Regulatory scrutiny and ongoing investigations against Binance** > > Regulators in many countries decided to warn against trading on Binance, banned it from certain activities (e.g. derivatives) or even banned it completely. Some of the banks have blocked their customers from making payments to and from Binance. > > In May 2021, the Justice Department and Internal Revenue Service informed that Binance Holdings is **under investigation for money-laundering and tax evasion**. > > It is also probed by the Commodity Futures Trading Commission (CFTC) over concerns that its employees exploited access to data on millions of transactions (market manipulation and insider trading). > > ​ > > **Binance Smart Chain – blockchain of copycats and scammers?** > > BSC is a copy of Ethereum and as such it’s also full of projects that copy ETH projects. BSC’s Pancakeswap copied ETH's Uniswap, Alpaca Finance copied Yearn Finance, yieldwatch copied Zapper and so on. And then there are copies of those copies. **BSC doesn’t offer too many original and innovative projects.** > > BSC is also very popular among “developers” (read: scammers) whose only intention is to get rich quick. It’s hard to keep up with how many BSC projects got “hacked” (read: rug pulled) and the chain is only one year old. > > This slowly makes more and more people skeptical about BSC. > > ​ > > **Rules can change at any time** > > Binance can change their policy at any time. Take for example the discount users get when paying for transactions with BNB. According to the whitepaper, the discount was to be halved every year but in 2019 Binance decided it wants to keep the discount at 25% and resigned from further halvings. This is of course positive for users but **nothing stops Binance from making less positive changes** in the future. > > (I also found information that Binance has changed the rule regarding quarterly burns in their whitepaper v2 but I couldn’t verify it as whitepaper v2 is nowhere to be found.) > > ​ > > **Ethereum 2.0 and other competitors** > > Successful upgrade of the Ethereum network might make BSC less attractive. When Ethereum has competitive transaction fees, the main advantage of BSC will be gone. If most developers work on Ethereum now, despite ridiculously high fees, **BNB may suffer a serious hit** when those fees are finally lowered. > > And there are more rivals on the horizon. Recently, Cardano successfully launched their smart contracts. Solana is becoming popular. There is also Polkadot, Avalanche, Algorand, Terra… The competition is growing and a centralized project like BNB might not survive in a decentralized world of cryptocurrencies. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Sources:)** > > [^(https://www.binance.com/en/support/faq/115000583311)](https://www.binance.com/en/support/faq/115000583311) > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by SoonMoonn which won 3rd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > (Using my Arguments from the previous round) > > **BNB (Binance Coin)** > > BNB also known as Binance Coin, is a crypto that powers the Binance Chain. Similar to ETH for the Ethereum Chain. It is currently ranked 3rd by market cap. > > Pros- > > **Binance** > > Binance is the largest cryptocurrency exchange by a far mile. According to coinmarketcap.com (as of 28/12/2021) Binance has 5x more volume than Coinbase (2nd on the list). > > The success of BNB is relative to the success of Binance as shown by BNB being the largest crypto apart from BTC and ETH. Just like how Binance is the biggest crypto exchange. > > **Benefits of BNB to Binance Users** > > • ⁠Discount on Trading fees > > • ⁠Turn dust (small amounts of crypto) to BNB > > • ⁠Buy Gift cards on Binance > > **Binance Smart Chain** > > Binance Smart chain is one of the largest crypto chains. > > It has low fees compared to its competitor Ethereum. Which is why a lot of people prefer to use the chain. > > BNB is needed for gas fees. > > Binance Smart Chain is also home to many memecoins / new coins. > > You can buy pegged Bitcoin / Ethereum on BSC and can hodl / exchange it without wasting money on gas fees. > > **Conclusion: BNB has proved itself of being a worthy crypto, being in the top 5 for most of this year. It’s backed by the biggest crypto exchange and provides many use-cases to it’s users.** > > **BNB is also needed for Binance Smart Chain, many users prefer that due to the low gas fees and variety of options.** ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by dexe678 which won 2nd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

Own_Significance_159

like what hit would Binance take if Elon said that? Maybe the BNB as a token for a while but business at [Binance.com](https://Binance.com) would be good as usual...

coinfeeds-bot

tldr; HAY, a 'destablecoin' on the BNB Chain, has lost its $1 peg. The depegging was the result of a $5 million exploit of Ankr Protocol. HAY is a stablecoin that comes from the Helio Protocol that uses BNB as collateral. It's the latest stablecoin to lose its peg this year. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

alleniversongrandson

How was the first swap possible ? What is aBNBC ? These swaps does not sound complicated at all for someone who knows what he is doing. And to be able to get 15.5 BUSD with 10 BNB is ridiculous and absurd.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by cryotosensei which won 2nd place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > > > 1. BNB has attracted some negative press. In June 2022, the SEC announced its intention to investigate whether Binance sold it as an unregistered security during the initial coin offering in 2017. Depending on how the investigation evolves, the price movement of BNB could be impacted negatively. > 2. BNB is the native token of Binance and is designed for use in the Binance ecosystem. However, in June 2021, Binance Markets Limited - a legal entity affiliated with Binance - was forbidden by the Financial Conduct Authority, the UK’s financial regulator to conduct regulated activities in the U.K. Similarly, in September 2021, Binance fell out of flavour with the Monetary Authority of Singapore (MAS) as it prohibited Binance from providing payment services and soliciting business from Singapore residents. Likewise, Binance is not allowed to do business in Japan. While Binance plans to relaunch its operations in the U.K. in the near future, it is still facing regulatory woes in other countries. If BNB is not globally adopted, it may face limitations in terms of how high its price can soar. > 3. BNB runs on the Binance Smart Chain (BSC), which is susceptible to rug pulls. In 2021, 73,000 BNB was drained from Meerkat Finance, a yield farming protocol. That same year, TurtleDex absconded with 9,000 BNB shortly after its launch. In 2022, the TopGoal project team cheated their investors of more than 2,660 BNB. Rug pulls happen so frequently on the BSC chain that the attitude of “use at your own risk” has come to be associated with BNB. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by dexe678 which won 2nd place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > My pro arguments for BNB are that, first of all, it's a must-have in your portfolio if you're using Binance: > > \- BNB vault : where you can stake your BNB for a small APY (0.35% currently), but once a new launchpool starts, you'll start accumulating new token available there. The APY is, since I joined Binance, pretty nice, I would say around 5-10%. With the launchpool, you'll receive those new tokens, and as every crypto, they can boom or get doomed :) . > > \- Launchpad : basically, let you buy new token before they get listed on Binance at a discount price. Last one was Stepn (GMT token), where you could buy the token for around $0.01. When GMT token was listed, price was around 0.15 so if you sold at that time, you already did a 1500% profit. Now sitting at 0.72, +7200%. You need to hold a high amount of BNB to benefit the more of this program, as only a portion of your BNB can be used to purchase those tokens in the launchpad program. So the more BNB you hold, the more return you'll make with this. > > \-Binance Card : Binance offers a Visa card, with cashback up to 8% on every purchase you make with the card. Once again, the more BNB you hold, the more cashback you can get, eg. if you hold 1 BNB, you'll be eligible for 2% cashback, 10 BNB offers 3%. To get 8%, you'll have to hold 600 BNB. The cashback you'll get will be paid in BNB, which you can hold to try to get an higher level of cashback, and have more to participate to the next launchpad/launchpool, or just swap/convert it to your preferred crypto. > > Binance pay : it lets you pay for good and services with your BNB, eg. pay for an hotel or even send money to a friend. > > \-Fees: if you have some BNB in your SPOT account, you can pay for every fees when you make an order with BNB, and save 25% on fees. > > \-dust convert : it let you convert any dust amount of crypto you might have after trading or withdrawing to your preferred wallet to BNB. Fees apply obviously, but at least you can do something with those 2 cents of xxx tokens instead of leaving them on your spot account. Since you pay your trading fees with BNB, those few cents cumulated can maybe be used to pay for the fees of your next order. > > > Now those are pretty cool, but what if you're not using Binance? > > Well, since its launch in 2017, BNB has been on the rise. In about 5 years, it is around 1,000,000% up. The real rise happened last year during the bull market, when on January 1st 2021, its price was sitting around $38 and went up to $686.31 in 2021 may (info from coingecko). Now we know how the market was last year, with a pretty good start of the year, a fall in may-august, then an uptrend until November, and a fall again. Even with all those events, BNB had performed very well, and managed to climb to the 3rd spot of cryptocurrencies by market cap (stable coin excluded). It has been pretty stable and is holding his seat pretty well since then unlike some other top 10 crypto. > > Last be not least, BNB can be used on DEX, Pancake swap being the preferred option there, where you can use your BNB and swap them for any token available there. Swap fees, transfer fees will be paid in BNB as BNB is the native token of the BNB chain. Fees are pretty low though. BNB is supported on a variety of wallet like Ledger, Trezor, Metamask or Trust wallet. With the last one, you have also the possibility to stake your BNB directly from the wallet. > > Thank you for coming to my Ted talk about BNB. Now, I'm gonna copy and send this to Binance and expect them to reward me generously :) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/ru2lxc/top_10_binance_coin_proarguments_january_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

CointestMod

#Binance Coin Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og2b3t/comment/he59nit/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 07.10.2021 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Cons > > **BNB is centralized** > > The biggest downside of BNB is that it goes against the core principle of cryptocurrency – it’s not decentralized. BNB network is secured by **only 21 nodes/validators** when for example ETH has around 9 000 nodes/validators. > > But that’s not all. In order to become a validator, one must own 10 000 BNB coins. Since April 2021, the price of BNB fluctuates mostly between $300-$400. That means a validator-to-be has to invest more than $3 million. Validators also need cutting-edge hardware and very good internet connection but this shouldn’t pose a problem for someone who has more than $3 million dollars. > > Also worth pointing out is the fact that **more than 80% of BNB is either owned or custodied by Binance** and top 100 wallets hold more than 70% of BNB (compare to around 40% for ETH or 16% for BTC). > > ​ > > **The future of BNB depends on Binance** > > BNB is not only centralized but it also depends heavily on the success of Binance. If Binance was to become less popular, BNB will most probably be also affected. Lately, Binance is having regulatory problems in several countries, most notably in the US, the UK, Japan and Thailand. > > Binance is also under constant threat of being a victim of hackers. In May 2018, it was hacked and 7 000 Bitcoins were stolen. Any Binance security breach is sure to affect the price and future of BNB. > > ​ > > **Regulatory scrutiny and ongoing investigations against Binance** > > Regulators in many countries decided to warn against trading on Binance, banned it from certain activities (e.g. derivatives) or even banned it completely. Some of the banks have blocked their customers from making payments to and from Binance. > > In May 2021, the Justice Department and Internal Revenue Service informed that Binance Holdings is **under investigation for money-laundering and tax evasion**. > > It is also probed by the Commodity Futures Trading Commission (CFTC) over concerns that its employees exploited access to data on millions of transactions (market manipulation and insider trading). > > ​ > > **Binance Smart Chain – blockchain of copycats and scammers?** > > BSC is a copy of Ethereum and as such it’s also full of projects that copy ETH projects. BSC’s Pancakeswap copied ETH's Uniswap, Alpaca Finance copied Yearn Finance, yieldwatch copied Zapper and so on. And then there are copies of those copies. **BSC doesn’t offer too many original and innovative projects.** > > BSC is also very popular among “developers” (read: scammers) whose only intention is to get rich quick. It’s hard to keep up with how many BSC projects got “hacked” (read: rug pulled) and the chain is only one year old. > > This slowly makes more and more people skeptical about BSC. > > ​ > > **Rules can change at any time** > > Binance can change their policy at any time. Take for example the discount users get when paying for transactions with BNB. According to the whitepaper, the discount was to be halved every year but in 2019 Binance decided it wants to keep the discount at 25% and resigned from further halvings. This is of course positive for users but **nothing stops Binance from making less positive changes** in the future. > > (I also found information that Binance has changed the rule regarding quarterly burns in their whitepaper v2 but I couldn’t verify it as whitepaper v2 is nowhere to be found.) > > ​ > > **Ethereum 2.0 and other competitors** > > Successful upgrade of the Ethereum network might make BSC less attractive. When Ethereum has competitive transaction fees, the main advantage of BSC will be gone. If most developers work on Ethereum now, despite ridiculously high fees, **BNB may suffer a serious hit** when those fees are finally lowered. > > And there are more rivals on the horizon. Recently, Cardano successfully launched their smart contracts. Solana is becoming popular. There is also Polkadot, Avalanche, Algorand, Terra… The competition is growing and a centralized project like BNB might not survive in a decentralized world of cryptocurrencies. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Sources:)** > > [^(https://www.binance.com/en/support/faq/115000583311)](https://www.binance.com/en/support/faq/115000583311) > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwu8i/top_coins_binance_coin_conarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/za4nf2/daily_general_discussion_december_2_2022_gmt0/).

spamgox

There is something like of the hacking and minted of some BNB.

CointestMod

#Binance Coin Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Binance Coin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > First published on: [24.09.2021](https://www.reddit.com/r/CryptoCurrency/comments/og29w6/comment/he4x6yb/?utm_source=share&utm_medium=web2x&context=3) > > Last edited on: 15.06.2022 > > # Intro > > Binance Coin (BNB) was launched in July 2017 and it was initially an ERC-20 token on Ethereum. In April 2019, it moved to its own blockchain called Binance Chain. Today, it operates on two blockchains, the other one being Binance Smart Chain. The coin is issued, developed and maintained by the biggest cryptocurrency exchange – Binance. > > # Pros > > **IT IS BACKED BY BINANCE** > > Binance Coin is maintained by Binance, a cryptocurrency giant. Binance is currently the biggest cryptocurrency exchange in the world. Its transaction volume is [roughly 6 times higher](https://www.statista.com/statistics/864738/leading-cryptocurrency-exchanges-traders/) on average than that of Coinbase. Binance makes sure that BNB finds more and more utility within their ecosystem. > > Backing of such a massive company should give investors a lot of confidence even though Binance is lately under an intensified regulatory scrutiny. But the company declares that it is doing its best to comply with all the regulations. They're working on a stricter KYC and they’re also expanding the legal and compliance teams by hiring many experts in the field. > > The co-operation between Binance and regulators was demonstrated when the exchange [limited its services for people from Russia](https://www.binance.com/en/support/announcement/4887e569afdf4b1e89e024371d3a49b9). > > **IT GIVES YOU DISCOUNTS ON BINANCE** > > One of the reasons why Binance is so popular is the fact that their [transaction fees are among the lowest](https://www.binance.com/en/support/faq/115000583311). Users pay just 0.1% for most popular types of trades, whereas on e.g. Coinbase (Pro) it’s 5 times more – [0.5%](https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees). One of the benefits of BNB is making those fees even lower – by as much as 25%. **Using BNB to pay for transaction fees can save you up to 1/4 of your money** on transactions. It’s a big incentive to hold some BNB. > > **IT IS DEFLATIONARY** > > In 2021, Binance implemented two important changes to BNB burning mechanism. > > First, [Bruno Upgrade v1.1.5](https://www.binance.org/en/blog/binance-smart-chain-bruno-upgrade-v1-1-5/) took place on 30 November. It introduced real-time burning mechanism. It is similar to [ETH London Upgrade](https://medium.com/@eric.conner/fixing-the-ethereum-fee-market-eip-1559-9109f1c1814b) \- some of the gas fee collected by validators is burned. As of 15 June 2022, [more than 90 000 BNB were burned](https://twitter.com/BurnBNB). > > Furthermore, on 23 December 2021, Binance announced and implemented **BNB** **Auto-Burn** protocol. It replaces quarterly burns which were based on the profits Binance made (they committed 20% of their profit to buy back BNB and then burn it. There were [17 quarterly burns](https://www.binance.com/en/blog/ecosystem/17th-bnb-burn-%7C-quarterly-highlights-and-insights-from-cz-421499824684902908)). Now, the process is automated, which makes it more transparent and predictable. The core idea has not been changed, however, the process will stop when the number of BNB coins in circulation is lower than 100 million. > > **MANY TRADING PAIRS, STAKING, FARMING AND OTHER USES** > > As an official coin of Binance, BNB also offers a **multitude of trading pairs**. All transactions made with BNB are lightning **fast and secure** since it’s based on one of the most secure blockchains – Ethereum. > > There are also many options of **staking** BNB on Binance for a very good APY or participating in **Launchpools** (farming new tokens) and **Launchpads** (Initial Exchange Offerings (IEO) - buying new tokens). > > BNB is **accepted by some service providers**, e.g. HTC, trip.io, travala.com, BitTorrent or PureVPN. > > Last but not least, BNB can be used to convert “leftovers”. Very often when you sell a coin, a very small amount of it is left in your wallet. On Binance, you can **convert small amounts of coins** (called “dust”) into BNB. > > **TWO BLOCKCHAINS THAT WORK SIMULTANEOUSLY** > > BNB operates on two chains, the above mentioned **Binance Chain** and **Binance Smart Chain** (BSC) which was launched in September 2020. While Binance Chain is responsible for transactions made on Binance DEX, BSC was designed specifically for smart contracts, DeFi and dApps. It quickly became **one of the biggest blockchains**. It is compatible with Ethereum allowing other projects to transfer easily from ETH to BSC and escape high gas fees on ETH. > > This dual blockchain approach combined with the **Proof of Staked Authority** consensus algorithm (a mix of share proof and authority proof) makes it much more scalable than Ethereum and enables faster and cheaper transactions. While Ethereum runs around 9 000 nodes/validators (before the software bug back in the end of August 2021), BSC needs only 21 validators. > > It is also worth pointing out that Binance allocated $100 million for projects that launch on BSC. > > **DECENTRALIZATION AT ALL COST?** > > The main argument against BNB is that it is centralized. And it’s impossible to deny the fact that BNB indeed is centralized compared to Ethereum and many other projects. But every stick has two ends. This is what Changpeng Zhao, Binance CEO, has to say about (de)centralization: > > [Many people think of decentralization as absolute; you are either decentralized or not. I think that in reality, there is a gradient scale from centralization to decentralized. Often, a better question is: how decentralized should we (exchanges, societies) be, now and in the future? If decentralization simply increases freedom but decreases security and ease-of-use, there is a point where it becomes a net negative, and may not be worth it.](https://www.binance.com/en/blog/from-cz/cz-on-centralization-vs-decentralization-301982828007075840) > > If decentralization is also about freedom of choice, then maybe being able to choose a centralized blockchain(s) should be accepted. > > \_\_\_\_\_\_\_\_\_\_\_\_\_\_ > > **^(Additional sources:)** > > [^(https://www.binance.com/en/bnb#COIN-BURN)](https://www.binance.com/en/bnb#COIN-BURN) > > [^(https://www.binance.com/en/bnb#BNB-RIGHT)](https://www.binance.com/en/bnb#BNB-RIGHT) > > [^(https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04)](https://www.binance.com/en/support/announcement/2af5831727164545b8a2c665fae8bc04) > > [^(https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html)](https://finance.yahoo.com/news/binance-coin-bnb-why-interesting-110049570.html) > > [^(https://www.investopedia.com/terms/b/binance-coin-bnb.asp)](https://www.investopedia.com/terms/b/binance-coin-bnb.asp) > > [^(https://trading-education.com/pros-and-cons-of-investing-in-binance-coin)](https://trading-education.com/pros-and-cons-of-investing-in-binance-coin) > > [^(https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\\source=Reddit&utm\_medium=Social&utm\_campaign=CryptoCurrency-BSC-article)](https://guarda.com/academy/blockchain/what-is-binance-smart-chain/?utm\source=Reddit&utm_medium=Social&utm_campaign=CryptoCurrency-BSC-article) > > [^(https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market)](https://www.finextra.com/blogposting/20815/binance-and-regulatory-scrutiny-changing-times-for-the-crypto-market) ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/tuwtz9/top_coins_binance_coin_proarguments_april_2022/) to be taken to the original topic-thread or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_binance_coin=) to find arguments on this topic in other rounds.

bandana_bread

Yeah hedging risks is important. By pure dumb luck I sold all my ankr BNB just last month because of the additional liqudity mining incentives by Stader for BNBx. I like the yield bearing liquid staking tokens because there's no lockup and they are very good in terms of taxes for me (tax free after 1 year), while having it regularly staked I'd need to pay ~30% taxes on it.

Aerocryptic

Ankr has been hacked. 4 B$ of wrapped BNB has been minted in the process.

hoanglpr

Whoever buys this shitcoin aBNBc deserves to get rekt. You know in the first place BNB is a centralised shitcoin, but still decided to buy, worst yet, buy a derivative of it. Lucky for ya, the liquidity is not hundreds of millions dollars. Next time, don't buy shitcoin okay.

subduedscarcity53

I am DCAing miners since the payback is way higher here. Miner prices have dropped by a lot, so purchasing a few miners every month or two just has a higher payback in the future as the market recovers, since not only do the mining profits go up, but even the miner prices go up drastically. Also, once the market is a little better than its current condition, the mining profit per day itself would be extremely huge. However, since I want to diversify, I plan on sticking to DCAing ASICs & BNB+ETH (for staking).

coinfeeds-bot

tldr; Web3 infrastructure platform Ankr faced a massive exploit earlier today with the hacker reportedly exploiting the platform for millions of dollars. As per early details, the hacker has reportedly minted 10 trillion Ankr Reward Bearing Staked BNB (aBNBc). Post the exploit, the price of aBNB *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*