Bitcoin (BTC) vs. BNB (BNB)

With Bitcoin (BTC) and Binance Coin (BNB) being two of the most popular cryptocurrencies in the crypto market, it’s only natural to compare them.

Both coins have unique benefits and drawbacks, so knowing which is right for you is essential. Let’s compare Bitcoin BTC and Binance coin BNB, so you can decide which coin is worth investing in.

 

History Of Bitcoin & Binance Exchange

Bitcoin (BTC) is the world’s first decentralized digital currency, created in 2009 by Satoshi Nakamoto. It is a peer-to-peer electronic cash system that does not require a trusted third party to intermediate transactions.

Binance launched its crypto exchange in 2017, and it’s the largest crypto exchange when it comes to trading volume. Binance Coin is the native token of the Binance platform. The BNB coin was created to fund the development of the Binance ecosystem and to pay transaction fees on the platform.

In 2017 Binance offered 20 million BNB tokens to angel investors through an ICO process. All 100 million BNB tokens were sold at 15 cents each.

Around $15 million in BTC and Ethereum (ETH) was raised from this ICO, and a massive 50% was used for Binance branding. Approximately 35% of this was used for upgrading Binance’s platform and the entire exchange system.

Binance Smart Chain (BNB chain)

Binance Smart Chain is a blockchain platform. It is a high-performance blockchain that is compatible with Ethereum’s smart contracts.

Binance Smart Chain also features a dual-chain architecture that allows it to run parallel to Binance Chain. This enables the platform to offer both high speed and low fees.

 

What Each Coin Does And Why It Was Created

Binance coin BNB was created on the Binance crypto exchange, but it was originally designed on the ETH blockchain. The Binance coin then moved to the Binance Chain. The BNB coin can be used to pay for fees on the exchange or used to receive discounts on those fees.

Binance BNB has become one of the most popular altcoins because it has a strong team behind it, is constantly being developed, and has impressive growth.

Bitcoin BTC was created as a decentralized digital currency that could be used by anyone, anywhere in the world.

It is not controlled by any government or financial institution, which makes it attractive to many people. Bitcoin BTC is also scarce, which means that it can potentially increase in value over time.

 

Price History Of Binance Coin & Bitcoin

The price of Bitcoin and Binance Coin has fluctuated dramatically over the past year. BTC hit an all-time high of nearly $20,000 in December 2017 before crashing to around $3,000 in 2018. BNB’s price reached a peak of approximately $24 in January 2018 before plunging to about $9 in the same year.

BTC and BNB have recovered somewhat since then, with BTC currently trading at around $10,000 and BNB at approximately $15. However, both remain far below their all-time highs.

It is difficult to predict where the prices of BTC and BNB will go in the future. However, some experts believe BTC could reach $50,000 or even $1 million within the next decade. As for BNB, it is expected to continue growing in value as Binance grows in popularity.

 

Market Capitalization Of Each Project

The market capitalization of Bitcoin (BTC) and Binance Coin (BNB) are both highly impressive and indicative of the popularity and success of each project. BTC is currently the world’s largest cryptocurrency by market capitalization, while BNB is the 8th largest.

Both projects have experienced tremendous growth since their inception, with BTC’s market cap increasing from around $1 billion in 2013 to over $100 billion today and Binance coin’s market cap rising from $1 million to over $4 billion in just two years.

It’s clear that investors have a lot of confidence in both BTC and Binance coins and that these projects have a bright future.

 

The Similarities Of BTC And BNB Coins

Binance Coin (BNB) and Bitcoin (BTC) share many similarities. Both are decentralized, peer-to-peer digital currencies that are not subject to any control from either government or financial institutions. Transactions on both networks are recorded on a public ledger, ensuring transparency and security.

BNB and BTC can be used to purchase goods and services, though BTC is more widely accepted. Finally, both Binance Coin and Bitcoin are mined, though the mining process for each is slightly different.

 

The Differences Between BTC And BNB Coins

Bitcoin is a cryptocurrency that is decentralized, and it relies on cryptography to secure its transactions. Bitcoin is not managed by any government or financial institution.

Instead, it relies on a peer-to-peer network of computers to verify and record transactions on its blockchain ledger.

Binance Coin, on the other hand, is centralized crypto issued by and primarily used on the Binance Exchange. While BNB is based on blockchain technology, it differs from Bitcoin because it is centrally controlled by Binance. As such, BNB can be thought of as an IOU for using the services.

 

The Risks Of Each Project

There are a few key risks to consider when evaluating Binance Coin and Bitcoin (BTC). First, let’s consider the risks associated with BNB. BNB is a cryptocurrency issued by Binance, a cryptocurrency exchange.

As such, it is subject to the same volatility as other cryptocurrencies. In addition, Binance is a centralized platform, which means that it is subject to the same regulatory risks as other centralized exchanges.

Finally, there is always the risk that Binance could be hacked or otherwise experience technical problems that result in the loss of funds for users.

Turning to BTC, we see that it also faces some key risks. First and foremost among these is the risk of price volatility. BTC has seen some tremendous price swings over its short history, and this is likely to continue in the future.

In addition, BTC is a decentralized currency that is not subject to the same regulations as fiat currencies.

This could lead to problems down the line if governments decide to crack down on Bitcoin use. Finally, technical problems can always affect Bitcoin, either through hacking or simple errors.

 

Where Can You Buy Bitcoin & Binance Coins?

They can be bought on many different exchanges. Bnb is the native token of the Binance exchange, while BTC is a major cryptocurrency that can be bought on many different exchanges.

BTC can be bought on Coinbase, Binance, Kraken, Bitstamp, Gemini, and many other exchanges. BNB can be bought on Binance, Kucoin, HTX Global, OKEx and more.

When buying BTC or BNB, it is essential to do your research to find the best exchange for you.

Each exchange has its fees, features, and benefits.

 

How You Can Exchange One For The Other (Trading)

Both assets can be bought and sold on Binance for other cryptocurrencies or fiat currencies such as US dollars. To exchange BNB for BTC, you must go to the Binance website and create an account. Once logged in, go to the ‘Exchange’ page and select ‘Basic.’

On this page, you will see a list of all the available trading pairs. Find ‘BNB/BTC’ in this list and click on it. After clicking, it will take you to the BNB/BTC trading page, where you can buy and sell BNB for BTC.

To do this, you must enter your desired price in the ‘Buy BNB’ section and click ‘Buy.’

Your order will then be placed in the order book and filled when someone sells BTC at your chosen price. You can also sell BNB for BTC by entering your desired price in the ‘Sell BNB’ section.

 

Future Plans

Looking to the future, both Binance and Bitcoin have ambitious plans. Binance is looking to expand its empire even further, with plans to launch its decentralized exchange, launch a fiat-to-crypto exchange in Singapore, and continue to invest in promising blockchain projects.

As for Bitcoin, its roadmap includes plans for scaling improvements such as the Lightning Network and Schnorr signatures and continued development of its protocol and ecosystem.

With Binance and Bitcoin working towards their respective goals, their close relationship will likely continue for many years.

 

Conclusion

There is no clear winner in Bitcoin vs. Binance coin, as both are great for forward-thinking investors.

Both have their pros and cons, and it depends on what your needs are as an investor. If you’re looking for a long-term investment, then Bitcoin might be the better option.

However, if you’re looking for something that you can use to buy things online or trade quickly, then BNB might be the better choice. Ultimately, it’s up to you to decide which one is right for you.

References:

https://www.binance.com/en/bnb

https://en.wikipedia.org/wiki/History_of_bitcoin

https://en.wikipedia.org/wiki/Bitcoin