Binance Coin is one of the most successful altcoins that started as a utility token and is now the 4th biggest crypto. Bitcoin is an unbeaten digital currency that tops a global crypto rating for years. Investors have been converting Bitcoin to Binance Coin for various reasons, profiting from the high liquidity and favorable rates of these two crypto giants.
Should you convert Bitcoin to Binance Coin? Find out in our guide today.
Everything You Should Know About BTC and BNB Before Trading
Before you start trading your Bitcoin to Binance Coin, there are certain things you need to be aware of.
Bitcoin has a long history behind it as the first-mover. It is by far the most famous cryptocurrency with the largest market cap. It is decentralized and provides an extra level of privacy protection compared with centralized finance. It is also safe from inflationary pressure caused by fiat currencies. Bitcoin transactions are recorded in a distributed ledger so that all participants are informed about what’s happening.
Binance Coin made its debut in 2017 on the Ethereum network but soon moved to its own blockchain. It is issued by one of the major crypto exchanges — Binance — where it can be used as a utility token to pay for trading fees. Traders also utilize it to pay for online purchases, travels, transfers, and so on.
BTC to BNB History
There has been a steady flow of investors swapping between each respective coin. BTC has seen its fair share of highs and lows throughout its lifespan, so has BNB.
2021 was a fruitful year for Binance Coin. It started with a price of around $40 in February and ended with almost $520! BNB showed a bullish tendency throughout the year.
Bitcoin, on the other hand, has had better moments recorded in its history. 2021 was tough on this coin, as its price dropped by 50%. Now, it shows the signs of recovery but still hasn’t managed to fully recover.
How Much Is 1 Bitcoin in Binance Coin?
At the time of writing, 1 BTC costs approximately $42 thousand. Binance Coin is trading at ~$460 — almost 10 times less. As BNB has shown a more positive price tendency, many investors decide to exchange their BTC to BNB.
How to Invest in Binance Coin in 2022?
You can exchange BTC to BNB at a fixed rate on Godex. You will be able to convert Bitcoin to Binance Coin fast, easily, and anonymously. The exchange does not require any identity verification nor does it hold KYC policies.
Crypto investing or trading has never been more secure and convenient than on decentralized exchanges in 2022. Enter the amount of BTC and BNB in the calculator, and it will show you how much you will receive in the end. Keep in mind that all data is provided in real-time.
Crypto Trading Tips in 2022
Crypto trading has entered the mainstream at this point. A number of traders at an institutional and individual level are involved or intend to get involved in the world of cryptocurrency moving forward.
If you are planning on trading cryptocurrency, then consider the following:
- Do not withdraw funds for at least 2 years after allocating them to cryptocurrencies.
- Use the DCA strategy to buy small amounts from time to time despite the price.
- Do not listen to experienced influencers and managers, everyone has their own capacity to add positions and take risks.
- Approach the market with caution for starters and stick to one coin at first.
Bitcoin and Binance Coin have both been in the market for a long time. Investing in either one will yield potential gains and potential losses. Bitcoin is the dominant cryptocurrency that earned its title as the first-mover and is essentially the first of its kind.
On the other hand, Binance Coin has proven itself to be on par with the market leaders, specifically Bitcoin. So, which is a more profitable investment?
Each asset class has its own advantages and offers a plethora of use cases. Traders have been converting Bitcoin to BNB and vice versa depending on the price and performance of each of them.
Converting BTC to BNB has been made easy on https://godex.io/. Trade at a convenient pace and fixed rates while protecting your identity. Always remember certain tips before you dive into the crypto world.