The cryptocurrency exchange arena is one of the biggest markets left in the blockchain space. Thousands of projects aiming to become exchanges had emerged over the past few years, but few ever managed to achieve any kind of result. Naturally, the heavyweights, which managed to attract the most investment and focused on product development, rather than investment embezzlement, actually managed to achieve impressive results. The race for user attraction and liquidity accumulation was always spearheaded by the giants that had the support of institutional investors. Among the leaders, especially the ones that managed to provide convenient payment methods for average users, were Binance, KuCoin, Coinbase and several others.
Combined, these and several other exchanges, control a good half of all cryptocurrency trading volumes on the market. This makes it virtually impossible to compete with them by virtue of the fact that such exchanges have the money to buy out any emerging competitor, or the leverage to simply close down the ones that refuse to sell their businesses. Such is the nature of big business in virtually every industry and the cryptocurrency space is no different.
Still, Binance deserves considerable attention in this regard, since it is still among the leaders of the cryptocurrency trading arena and is often regarded as the premier venue for any traders. Trading on Binance is made even more attractive by the presence of the native BNB coin, which offers its holders a vast array of bonuses, rewards, and features. And though some of Binance’s rivals are trying to catch up in terms of product development and market expansion, they have a long way to go before they reach what Binance has already achieved and offers to provide in the near future.
Buy Binance Coin with Credit Card Instantly
One way to buy Binance coin and never worry about whether you can lose out on the opportunities on offer is to resort to any external exchange. However, the amount of BNB available in free circulation is quite limited considering two important factors. First, the ones who can buy BNB will likely keep it as a long-term investment asset. Few are willing to sell BNB, given it rather restrictive price and the fact that it keep rising in value with the ongoing buyback and burn practice employed by the exchange. Secondly, the Binance exchange itself offers multiple bonuses for buyers of the BNB along with detailed instructions on how to use the coin to get the most benefit from it.
Holders of BNB can freely convert their assets for any other cryptocurrency right through the exchange and have the freedom to even stake BNB for a return on investments. Those who pay commissions for trading will find that holding BNB and using it to slash fees is a rather profitable alternative to resorting to other exchanges. Given that prices on Binance are usually considered to be benchmark, most traders flock to it in search of profitable deals. This makes it possible to use BNB as a token for fee cutting and for use as an access keycard to the exchange’s many native services.
Add to that the fact that Binance is connected to all major financial gateways like Visa and MasterCard and we get a recipe for success that can act as a guide for other exchanges to follow. Users can buy BNB directly using any tethered bank card, be it credit or debit in nature. This further simplifies the process of using Binance and resorting to it as a go-to solution for all trading needs.
Who Else?
Since Binance started implementing its native coin program, many other exchanges followed its example and started adding bonuses and use case features to their native coins. Bybit and KuCoin are among the leaders in this domain along with Bitget trailing after. KuCoin is aggressive in its expansion of the product lineup and is continuously developing a native ecosystem of products that includes everything from NFT marketplaces and project launchpads to whole trading floors. However, no matter how far the competitors try to reach, Binance already did everything they are trying to develop, and likely did it better.
