Popular cryptocurrency, Binance Coin (BNB), has experienced a price pullback since it hit all-time highs in May. However, now could be an opportunity in disguise, and buying the dip might be a good move for investors.
Buying an asset when it has fallen in value is known as a contrarian investing strategy, and it can often pay off spectacularly. This is especially true for a cryptocurrency project with strong fundamentals, such as Binance Coin (BNB).
This article details the key things you need to know before you invest in Binance Coin. We explain what it is, whether or not you should buy it, and we provide our BNB price prediction.
To get things started, you can scroll down to find out the two best places to buy Binance Coin online with the lowest fees.
How & where to buy Binance coin in the UK and elsewhere
To buy BNB tokens, simply sign up to a reliable cryptocurrency broker, deposit funds, and purchase the number of BNB coins you want.
Some investors opt to use decentralised exchanges (DEXs), though we feel crypto brokers offer the best all-around experience for most investors. Here are the two best platforms to buy Binance Coin today:
eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.
UK-based Crypto exchange company with FCA license. Global coverage of 180+ countries and unprecedented 48 US states. Buy & sell cryptocurrencies no matter where you are.
What is Binance Coin?
Founded by Changpeng Zhao and launched in 2017, Binance is one of the largest cryptocurrency exchanges in the world globally. BNB is the native token of Binance and is an integral part of the functioning of many sub-projects.
The long-term aim of the platform is to bring cryptocurrency into the mainstream financial world on the international stage.
The project has an entire ecosystem of functionality for users including the Binance Chain, Academy, Trusted Wallet and Research projects, which all utilise the strengths of blockchain technology to bring about a new era of financial services.
Should I buy Binance Coin today?
If you are looking for a cryptocurrency with the capacity to deliver exponential growth, but without the risks associated with more obscure altcoins, BNB could be the right investment for you. As the platform continues to grow, the price of BNB tokens should increase as a result.
BNB price prediction
Our Binance Coin price prediction is as follows: BNB formed a hammer pattern this week, which is generally a bullish signal. In addition, it is attempting to rise above its 50-day and 100-day moving averages. A full recovery should be confirmed if the price can rise back to these levels in the coming days.
We forecast that the next psychological level will be $350, though with market sentiment on its side, BNB could smash through this barrier.
The post The best place to buy Binance Coin: BNB set for a post-dip comeback appeared first on Coin Journal.
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Author: Charlie Hancox