As the native coin of the BNB Beacon Chain and BNB Smart Chain, BNB fuels the Binance Chain ecosystem.
One of the most widely used utility tokens in the world, BNB can be used in a variety of applications and use cases in addition to being traded like any other cryptocurrency.
Benefits of BNB
BNB can be used to buy products and services, pay for transactions on the Binance Smart Chain, take part in special token sales, and many other things.
Inside the Binance Exchange ecosystem, BNB is mostly employed as a utility token that enables users to get discounts when paying for their trading fees.
When it comes to other use cases, BNBs can be used for a variety of things, including shopping with a credit card, paying for travel expenditures (including booking hotels and flights), and much more.
What Your Portfolio Would Look Like Today If You Purchased $1000 in BNB in 2020
As of now, BNB is trading at $265.33. The coin has seen its price slump in recent weeks. BNB’s prices have declined by 6.87% in the last 7 days and 3.96% in the last 30 days.
However, if you compare today’s BNB prices to those of 2020’s, there’s an astronomical difference between the two. In 2020, BNB’s price was hovering between $14 and $38.
Let’s assume that you bought $1000 worth of BNB in 2020 at an average rate of $25 per BNB coin. That would have gotten you 40 BNB coins. At the current price of $265.33, you would be able to sell them for $10,613. This is approximately a 10x or 1000% return on investment in just 2 years.
Similarly, if you had invested $10,000, you would have gotten 400 BNB coins. And you could have made $106,132.
However, it is never too late to invest. Assess your risk profile and invest sensibly.
Disclaimer: This is not investment advice.
Also Read: Here’s How Much Your $100 Investment in Tron Will Be Worth If TRX Reaches $1
The post Here’s What Your Portfolio Would Look Like Today If You had Bought BNB Worth $1000 in 2020 appeared first on CoinGape.
