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“ Binance coin for beginners “

this article is simply explains everything about Binance coin for new Investors and beginners.

In this article we will answer these questions :

Is BNB Binance coin good for beginners?

Is BNB Binance coin good for beginner investors?

Is BNB Binance coin good for trading?

Why BNB Binance coin is so high? (beginner answer)

Who sets the BNB Binance coin's price? (beginner answer)

How do you describe Binance coin for beginners?

Binance Coin (BNB) is a cryptocurrency that can be used to trade and pay fees on the Binance cryptocurrency exchange. The Binance Exchange is the largest cryptocurrency exchange in the world as of January 2018, facilitating more than 1.4 million transactions per second.

Binance Coin was created in July 2017 and initially worked on the Ethereum blockchain with the token ERC-20 before it became the native currency of Binance’s own blockchain, the Binance Chain.

what is uses for Binance coin for beginners and traders?

Just like other evolving cryptocurrencies, the Binance Coin offers several uses that go beyond the Binance exchange, such as:

Trading

Transaction fees on the Binance Exchange

Credit card payments

Payment processing

Booking travel arrangements

Entertainment

Investment

Loans and transfers

Binance coin is used for trading:

Binance Coin can be traded for other cryptocurrencies on various exchanges, depending on the restrictions set by the exchange. beginners and other crypto traders simply can use BNB Binance coin for trading.

Binance coin is used for transaction fees on the Binance Exchange:

BNB can be used to pay for transactions on the Binance Exchange, beginner users also receive a discount for doing so.

Binance coin is used for credit card payments:

BNB can be the form of payment for crypto credit card bills on Crypto.com. Beginners can use Binance coin for their payments.

Binance coin is used for payment processing:

Merchants can offer BNB as a means of payment for customers, offering more flexibility in payment methods. it also simply used for buying online for beginners.

Binance coin is used for booking travel arrangements:

BNB can be used to book hotels and flights on select websites. as a beginner, you should ask your provider for accepting Binance coin.

Binance coin is used for entertainment:

From paying for virtual gifts to buying lottery tickets, BNB serves several purposes in the entertainment space.

As a beginner with Binance coin, you can enjoy from spending it.

Binance coin is used for investment:

Several platforms allow investors to invest in stocks, ETFs, and other assets using Binance Coin.

As a beginner, you can also HODL you Binance coins in your wallets and in long term, it can goes up.

Binance coin is used for Loans and transfers:

BNB can be used as collateral for loans on certain platforms. Also, there are apps that allow users to split bills and pay friends and family through Binance Coin.

A simple explanation to burning Binance coin for beginners

As mentioned in the Binance whitepaper, every quarter, Binance uses 20% of its profits to buy back and burn Binance Coins, destroying them completely. Binance has consistently performed quarterly burns, the latest being the 13th quarterly burn on October 17, 2020.

Binance will continue to perform quarterly burns until it buys back and destroys 100 million Binance coins – 50% of the total supply. The practice ensures that the supply of Binance Coin remains finite, making it scarce and more valuable.

so as a beginner definition, how burning coins effect on value of Binance coins?

what is the simple explanation for burning Binance coin for beginners?

"Burning" refers to the process of permanently removing a crypto token from circulation. When Binance launched BNB in 2017, it committed to burning a total of 100 million BNB, which is half of its supply.

you can also see the volume of Binance coin burning for beginner:

Is Binance coin is a good investment for beginners?

Well let's take a look as a beginner who knows almost Nothing about Binance coin ...

as we check the BNB Price and Charts , BNBBinance coin primarily started going up in February 2021 and this was almost entirely because of the Binance Smart Chain (BSC).

Because the BSC was so much cheaper to work on than the Ethereum network, it became a viable alternative and many beginner projects started moving over.

In short, the more beginner projects on the BSC, the more BNB Binance coin is in use, increasing demand and increasing its price.

Today, the BSC is the second-largest DeFi platform, according to DeFi.prime with 36 DeFi projects, which is 10 more than third place, Bitcoin. However, it still has a while to get to Ethereum’s 214.

And the DeFi market is expected to grow tremendously for the rest of 2021. As Christine Kim of CoinDesk points out, in the first quarter of 2021 DeFi applications have grown from $20 billion to $50 billion, an increase of 150%.

The Binance Exchange is very busy

As mentioned earlier, the Binance Exchange is the most popular and largest crypto exchange in the world. It has the most diverse selection of coins to buy/sell and the most crypto to fiat pairs for beginners and professional traders.

In 2021 crypto trading volume increased overall because of the current boom and Binance managed to make money - lots of money - from this action.

And BNB Binance coin benefited hugely from this too. As it is still used on the Binance Exchange for a discount on fees, demand likely increased for the coin to be used when Bitcoin began to surge to $60k.

Some crypto experts and many of beginners think that Binance Coin may continue to go up in value, possibly outpacing Bitcoin price.

And it’s not so far-fetched when you compare BNB Binance coin's market capitalization growth to that of bigger rivals Ethereum and Bitcoin.

Binance Coin growth in comparison to Ethereum and Bitcoin. Source: bloomberg.com

While Binance Coin is not going to replace Bitcoin as the leader of global digital currency, it is likely to be one of the big winners in 2021. Especially if the crypto market continues to rise.

All in all, BNB Binance Coin has an advantage over most coins for beginners , because we can already see its use cases. First as a utility token, then as fuel for the BSC. Meanwhile, investing in other coins is purely speculative as they are yet to deliver results.

Binance coin for beginners: The Top Utility Token of 2021?

Though many believe that Binance Coin is a good investment for beginners and investors and one of the safest cryptocurrencies out there (mainly because of its relative stability), no one can say this for certain especially if you are beginner. Thus, it’s up to you to decide if investing in BNB Binance coin in 2021 is worth it.

For the average trader and beginners, perhaps the most appealing aspect of investing in BNB Binance coin is the fact that you can get a discount of 25% on the Binance Exchange. In 2017, this discount was even greater, 50%.

Interestingly, there are a variety of different types of exchange fees that can be paid with BNB Binance coin. They include transaction fees, voting fees for new tokens, commissions, and also fees for launching new instruments.

We have to agree that this approach is a very clever way to keep traders coming back to the platform and in a sense, Binance Coin is like a discount coupon.

It is worth wondering, however, how long this discount will continue to be offered. In the future, it may continue to decrease or even stop.

In fact, according to their white paper, in 2019 Binance was supposed to half this discount yet again to 12.5%, but so far, this has not happened.

It is believed that Binance has not reduced the 25% discount because they want to remain popular and in good faith with their traders. For now, though, it is something to look out for in the future.

It is also worth mentioning that their white paper also points out that in the 4th year, which would be 2021, the discount will be reduced further to 6.75%.

If this happens, then interest in Binance Coin could partially decline - unless the developers behind Binance offer another reason to trade or hold BNB Binance coin for beginners and professional investors.

Things you should be aware of before you invest in Binance Coin as a beginner

Despite the fact that BNB Binance coin seems to be a very attractive investment for beginners, there are several facts you should consider before you invest in Binance Coin. The following points are not meant to discourage you from investing, but rather encourage you as a beginner, to consider all the aspects of it.

First and foremost, dependency on Binance may be an issue for some beginner investors. Contrary to Bitcoin, BNB has been launched by a known entity – Binance. Therefore, its functionality and profitability are closely related to the popularity of the Binance platform. It stands to reason then, that if anything should happen to Binance, BNB Binance coin would suffer.

Secondly, Binance is a centralized exchange. A centralized exchange offers advantages of its own, which often include advanced features and tools, ease of use (better user experience), and perhaps most importantly, liquidity. But it has its drawbacks too. It is the exchange, not you, that holds your funds. Centralized exchanges also require a KYC (Know Your Customer) and AML (Anti-Money Laundering) processes, which can be tedious and faulty at times. It is also under a bigger threat of hacks and theft, compared to its decentralized competitors. In 2016 Reuters reported that since its inception in 2009, 33% of all bitcoin exchanges have been hacked. Moreover, the decentralized exchanges are putting their centralized counterparts under further pressure.

Thirdly, one could question its utility. Without smart contracts functionality, dApps are unattainable on Binance. Although DApps seem to be the rage for quite some time, lack of this functionality does not necessarily disqualify a token. In the case of BNB Binance coin, the lack of smart contracts is offset by other use cases, for example as Binance Chain’s native token.

An issue that many tokens face relates to their classification; whether a token is defined as a security is some project’s make or break moment. If your token is classified as a security you as a beginner have a lot of new regulatory challenges to deal with. Most often, you won’t be able to sell your token in some attractive markets, such as Canada or the US. In the case of Binance, this threat could be especially relevant, as the company has faced similar issues before. And it has prompted it to move to Malta, a more regulatory friendly country.

As said earlier, the above-mentioned aspects are not meant to discourage you from investing in BNB. Given that some of the drawbacks (e.g. lack of smart contracts) are offset by other features (utility on Binance Chain), while other “disadvantages” have upsides of their own, like a centralized exchange, the points mentioned above do not disqualify Binance Coin as an investment. Nevertheless, it is important to know the counterarguments.

We discussed about main points about Binance coin for beginners and the simple definition of Binance coin for beginners.

We also mentioned coin burning concept and effects for Binance coin for beginner traders and beginners investors.

the main uses of Binance coin for beginners and also we mentioned the things that a beginner should consider for holding and trading Binance coins.

At the end we've warned you for getting attention as a beginner traders in Binance coin and the aspects of that.

Conclusion

It is estimated by some experts that Binance coin would increase its value and have a market capitalization that is higher than Ethereum and Bitcoin in the coming next years. Compared to other centralized coins, the Binance coin has a much better image. And some experts say that decentralize exchanges like Binance could no longer remains the future of the exchanges in cryptocurrency market.

#bnb #Binance coin #beginner guid #cryptocurrency #coins #digital assets #watchcrypto.org #watchcrypto #cryptomarket #bnb coin #greendotai #technical analysis #market news #simple huid

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Do You Want to Read a very simple Article about Ripple cryptocurrency graph?

I recommend to read this

Ripple Cryptocurrency graph

#Ripple cryptocurrency graph #Bitcoin #Ripple #Chart #Graph #cryptocurrency #crypto #simplify

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Ripple cryptocurrency graph

What is Ripple cryptocurrency graph 

     what is Ripple XRP ?

 Ripple positions itself as a complement, rather than a competitor with, Bitcoin - the site has a page dedicated to Ripple for Bitcoiners. Ripple is a distributed network which means transactions occur immediately across the network - and as it is peer to peer - the network is resilient to systemic risk. Ripples aren't mined - unlike bitcoin and its peers - but each transaction destroys a small amount of XRP which adds a deflationary measure into the system. There are 100 billion XRP at present. Ripple cryptocurrency graph depends on changing the asset price in time scales.

it usually based on how it acts in market changes. 

  Ripple cryptocurrency graph often represents in different time scales like below :

 Time Frame                              Year.   Month    Day.      Hour (4 Hours)

Ripple cryptocurrency               XX.    XX.         XX.         XX

graph 

  Who sets the Ripple cryptocurrency graph?

 it depends on who sets Ripple cryptocurrency's price !

so who is he ??

 Ripple cryptocurrency’s (XRP) price isn’t set by anyone in particular. It’s set by the market—this makes pricing the currency more complex because prices will vary by exchange.  

Part of the reason for all the different values is where the data comes from. Ripple cryptocurrency is never traded in one place. Instead, it is traded on multiple exchanges, all of which set their own average prices, based on the trades being made by the exchanges at a given time.

 Ripple cryptocurrency graph is liquid

 It's because the price of Ripple cryptocurrency is very volatile, partly due to the liquidity (the ability to quickly buy and sell) of the currency. The amount of Ripple flowing through the market at any point in time gives investors the ability to enter and exit positions quickly.

If people are trading a high number of a particular asset (like Ripple cryptocurrency) , it becomes harder for one person or event to shift that price in any single direction. Think of it as a stream of water—you can redirect a small stream by putting down a few planks of wood. But if you wanted to redirect the Mississippi, you’d have a much harder time, because there’s simply too much of it.

 Events That Can Change Ripple cryptocurrency graph

    It's time to know that the Ripple cryptocurrency graph is depends on Bitcoin's graph and it's price.

The Bitcoin market is influenced by many events. If it is leaked that a large government is uncertain about how to regulate Bitcoin—as occurred in China—the price can fall.

There are also other factors affecting Bitcoin and also ripple cryptocurrency prices. There are only so many bitcoins available, and they are produced at a predictable rate. The ownership of those bitcoins is unevenly distributed—some Bitcoin giants have vast hoards of the currency in their wallets (digital storage). That, combined with liquidity, makes it easy for people to manipulate the market.

In some cases, the price can be driven down by large traders who sell bitcoins off in high volume. One such trader, nicknamed BearWhale, temporarily crashed the market by selling off a large holding of Bitcoin below market value.

When it comes to your Bitcoin trading strategy, you should exercise caution. Bitcoin is an extremely high-risk asset, and even the most experienced traders can lose money in a highly unpredictable, volatile market. This is not a reliable method for boosting your pension’s earnings potential.

  Ripple cryptocurrency market is like sugar !

Ripple cryptocurrency graph follows crypto market and it's like a commodity. The price of Ripple cryptocurrency is determined by the market in which it trades. In other words, its price is determined by how much someone is willing to pay for that Ripple. The market sets the price of Ripple cryptocurrency as same as Gold, Oil, Sugar, Grains, etc. is determined. Ripple cryptocurrency and also Bitcoin, like any other market, is subject to the rules of supply and demand. i.e.

 Ripple cryptocurrency graph follows the golden rule

 the golden rule in every market like Ripple cryptocurrency market is :

 More Demand, Less Supply               =        Price Goes Up  

More Supply, Less Demand               =        Price Goes Down  

  Ripple cryptocurrency graph volatility factors

 Bad news hurts adoption rate. The news that scare Ripple cryptocurrency users include geopolitical events and statements by governments who are regulating the Bitcoin and Ripple cryptocurrency.

There is an uncertainty of future Ripple cryptocurrency's value.

Large currency holder risks. It means the bitcoin investors who have holding a large currency is not much clear how they would liquidate it into fiat currency without severely moving the market.

 What is Ripple cryptocurrency graph 

  First We should explain and answer that :

  What is a crypto chart?

 A crypto chart is simply a visual tool that displays relevant data in such a way as to help you understand cryptocurrency (like Ripple cryptocurrency) price movements.

 The way the data is plotted can help you see patterns in market movements identify trends as they form and help you to build a picture of the overall momentum of the market – whether bullish (people are buying and the price is going up) or bearish (people are selling and the price is going down). The theory is that this can then be used to help predict graph where the market is going and what the price will be in the future so you know when to buy, when to sell, and when to HODL.

 There are two main formats of price charts and graphs used: line charts and candlestick charts. We’ll start with line charts.

  How do line charts and graphs work?

   Line charts and graphs are the most basic kind of cryptocurrency chart. Line charts graphs the historical price points of an asset. For example in Ripple cryptocurrency graph You’ll see a green line on the graph. This relates to the scale of the right hand side, representing BTC’s price in USD (though it can display any local currency). For cryptocurrencies, these are generally made up of the daily closing prices within a particular time frame. Time frames for graph viewing can be measured in whatever length you want to see, whether minutes, hours, days, weeks, months, or years. If you are an experienced trader, you’ll likely want to focus on minutes and hours. If you’re a HODLer looking for longer-term investment, monthly will be more suitable.

 Analyze Ripple cryptocurrency graph

live Ripple cryptocurrency graph

1 year Ripple cryptocurrency graph

monthly Ripple cryptocurrency graph

daily Ripple cryptocurrency graph

hourly Ripple cryptocurrency graph

minutely Ripple cryptocurrency graph

#Ripple cryptocurrency graph

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should I buy Ethereum now?

#etherum

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should I buy Ethereum now?

Let's check that technically ...

Ethereum is a platform that is intended to allow people to easily write decentralized applications (Đapps) using blockchain technology. A decentralized application is an application which serves some specific purpose to its users, but which has the important property that the application itself does not depend on any specific party existing. Rather than serving as a front-end for selling or providing a specific party's services, a Đapp is a tool for people and organizations on different sides of an interaction use to come together without any centralized intermediary.

Should I buy Ethereum for its new technology?

It's better to know more about its new technology called smart contracts.

Contracts generally serve four purposes:

- Maintain a data store representing something which is useful to either other contracts or to the outside world; one example of this is a contract that simulates a currency, and another is a contract that records membership in a particular organization.

- Serve as a sort of externally owned account with a more complicated access policy; this is called a "forwarding contract" and typically involves simply resending incoming messages to some desired destination only if certain conditions are met; for example, one can have a forwarding contract that waits until two out of a given three private keys have confirmed a particular message before resending it (ie. multisig). More complex forwarding contracts have different conditions based on the nature of the message sent; the simplest use case for this functionality is a withdrawal limit that is overrideable via some more complicated access procedure.

- Manage an ongoing contract or relationship between multiple users. Examples of this include a financial contract, an escrow with some particular set of mediators, or some kind of insurance. One can also have an open contract that one party leaves open for any other party to engage with at any time; one example of this is a contract that automatically pays a bounty to whoever submits a valid solution to some mathematical problem, or proves that it is providing some computational resource.

- Provide functions to other contracts; essentially serving as a software library.

Contracts interact with each other through an activity that is alternately called either "calling" or "sending messages". A "message" is an object containing some quantity of ether (a special internal currency used in Ethereum with the primary purpose of paying transaction fees), a byte-array of data of any size, the addresses of a sender and a recipient. When a contract receives a message it has the option of returning some data, which the original sender of the message can then immediately use. In this way, sending a message is exactly like calling a function.

Why should I buy Ethereum??

Ethereum has these special features which make it unique in cryptocurrencies.

Sandwich complexity model: the bottom level architecture of Ethereum should be as simple as possible, and the interfaces to Ethereum (including high level programming languages for developers and the user interface for users) should be as easy to understand as possible. Where complexity is inevitable, it should be pushed into the "middle layers" of the protocol, that are not part of the core consensus but are also not seen by end users - high-level-language compilers, argument serialization and deserialization scripts, storage data structure models, the leveldb storage interface and the wire protocol, etc. However, this preference is not absolute.

Freedom: users should not be restricted in what they use the Ethereum protocol for, and we should not attempt to preferentially favor or disfavor certain kinds of Ethereum contracts or transactions based on the nature of their purpose. This is similar to the guiding principle behind the concept of "net neutrality". One example of this principle not being followed is the situation in the Bitcoin transaction protocol where use of the blockchain for "off-label" purposes (eg. data storage, meta-protocols) is discouraged, and in some cases explicit quasi-protocol changes (eg. OP_RETURN restriction to 40 bytes) are made to attempt to attack applications using the blockchain in "unauthorized" ways. In Ethereum, we instead strongly favor the approach of setting up transaction fees in such a way as to be roughly incentive-compatible, such that users that use the blockchain in bloat-producing ways internalize the cost of their activities (ie. Pigovian taxation).

Generalization: protocol features and opcodes in Ethereum should embody maximally low-level concepts, so that they can be combined in arbitrary ways including ways that may not seem useful today but which may become useful later, and so that a bundle of low-level concepts can be made more efficient by stripping out some of its functionality when it is not necessary. An example of this principle being followed is our choice of a LOG opcode as a way of feeding information to (particularly light client) dapps, as opposed to simply logging all transactions and messages as was internally suggested earlier - the concept of "message" is really the agglomeration of multiple concepts, including "function call" and "event interesting to outside watchers", and it is worth separating the two.

Have No Features: as a corollary to generalization, the dev team often refuses to build in even very common high-level use cases as intrinsic parts of the protocol, with the understanding that if people really want to do it they can always create a sub-protocol (eg. ether-backed subcurrency, bitcoin/litecoin/dogecoin sidechain, etc) inside of a contract. An example of this is the lack of a Bitcoin-like "locktime" feature in Ethereum, as such a feature can be simulated via a protocol where users send "signed data packets" and those data packets can be fed into a specialized contract that processes them and performs some corresponding function if the data packet is in some contract-specific sense valid.

Non-risk-aversion: the dev team is okay with higher degrees of risk if a risk-increasing change provides very substantial benefits (eg. generalized state transitions, 50x faster block times, consensus efficiency, etc)

Should I buy Ethereum because it's technically awsome?

Ethereum claims its platform can be simply used to “codify, decentralize, secure, and trade just about anything.” A number of projects and inventations are underway to test the concept.

Microsoft is in partnership with ConsenSys to offer Ethereum Blockchain as a Service (EBaaS) on the Microsoft Azure cloud. Microsoft Azure cloud widely use for AI technology and almost every new fields in tech.

Should I buy Ethereum because it's trend??

Unlike the Bitcoin blockchain, the Etherium blockchain was not created to support a cryptocurrency. The Ether cryptocurrency was created to provide an in-house currency for applications built on the Etherium blockchain.

In other words, Etherium has wider and greater ambitions. It wants to be a platform for all kinds of applications that can store information safely.

Should I buy Ethereum after all...?

actually it's totally depends on YOU. it's better to check the whitepapers, the basic informations, the technical aspects and other things that can effect on value of a crypto assets. So PLEASE read more, search more, think more, ask from people who is familiar with this field, then make conclusion and decide.

#should I buy Ethereum?