Binance Lending: How to Get an Instant Binance Coin (BNB) Loan
As the native cryptocurrency token on the Binance exchange platform, Binance Coin (BNB) is one of the most popular cryptos on the market for a multitude of reasons. For one, Binance is the most used crypto exchange in terms of trading volume. Hence, BNB coin has a lot of utility. As a result, BNB growth has been steady and profitable for many. So here are a few more facts about BNB and how you can get an instant BNB loan, earn interest on BNB and more.
What is Binance Coin?
In July 2017, in the crazy aftermath of that year’s bull run, Binance launched its much anticipated exchange. CEO and founder Changpeng Zhao put together a strong team of developers brought over from the NEO blockchain protocol. After initial success in China, the exchanged moved it’s main operation to the crypto friendly island-nation of Malta.
BNB used to be an ERC-20 standard token on the Ethereum protocol but has since moved to the new, custom built Binance Chain blockchain. This blockchain was created to enhance the new Binance decentralized exchange in which BNB in which became the primary exchange currency.
Pros of BNB
Easily Accessible – Binance and BNB are scalable since they are supported by various devices and operating systems like Android, iOS, Windows, MacOS and more.
Discounts on trading – Of course, the main reason so many people use BNB is to take advantage of discounts on Binance trading fees. This is a major factor for the utility of BNB and the rise of it’s value.
Pairings – As the largest crypto exchange in the world, Binance has a wide range of altcoins available for trading meaning uses can pair BNB with a huge number of coins and tokens.
Cons of BNB
Limitations – Since BNB is the native coin of Binance, this means it is fairly limited in terms of trading. It’s possible to find BNB on other platforms but for the most part, trading it limited to Binance. YouHodler is one of the few platforms that allows BNB loans, giving our clients another great utility for this coin.
Potential Security Risk – There have been no successfully security incidents of BNB coin yet. However, Binance’s popularity does attract some potentially unhealthy attention. Users should always be mindful of their security habits when using cryptocurrency.
How to get an instant BNB loan on YouHodler
YouHodler has instant BNB loans with the highest LTV in the industry. For YouHodler hodlers and traders, this represents a great opportunity to use BNB as collateral for a loan in USD, EUR USDT or BTC. BNB loans help users ‘HODL” BNB while still utilizing it’s value through a loan.
During the loan, if the price of BNB increases, users keep all the profit. Since Binance is such a popular exchange, there are a wide array of BNB holders. These are “passive holders” who simply sit on their BNB waiting for it to increase or decrease in value on the market. However, there is a more productive way for BNB holders to use their assets and it’s through instant BNB loans.
BNB loans lets users borrow against their BNB holdings, using the real value of their assets while still safely holding crypto. By keeping BNB via a BNB loan on YouHodler, our users are not missing out on any profits BNB may incur. Instead of selling and missing out on 100% of future profits, users can continue to HODL BNB and keep the profits if and when it rises in value. BNB loans can be used to hedge crypto, diversify and multiply one’s crypto portfolio using the variations of the crypto market.
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