CRO Vs. BNB – The Battle Of The Exchanges Heats Up

With many exchanges littering the crypto industry, it becomes an onerous task to choose the best. Beyond choosing the best exchange, you may also want to invest in exchange-listed tokens, and there is no better place to do that than directly from the exchange itself.

Before you choose an exchange be sure you have done the necessary research and are convinced that the exchange will benefit you in the long run. You should also be sure it’s not a scam exchange or a clone of a popular exchange.

We will be looking into two popular exchanges in the industry and their exchange-listed tokens, to help you in your decision-making process. But before we do let’s take you through what an exchange is, and why you need one.

The place of crypto exchanges

A Crypto exchange is a digital marketplace for buying and selling cryptocurrencies. Exchanges can be used for currency conversions, as well as crypto conversions. They are also sometimes used for yield farming, staking, and investing in crypto over a long-term period. Exchanges work by showing the real-time price value of any crypto in a given period, thus creating a marketplace where traders come together to exchange their assets.

Different exchanges charge relative fees for their services each time you execute a transaction. Fees can go as high as 5 percent or as low as a couple of cents.

The Exchange Tokens

Many projects in the crypto space have their crypto tokens listed by an exchange. Over time, most exchanges began the new tradition of creating their stable coins, and then an exchange token. One of the biggest success stories in exchange tokens is BNB which recorded an ATH above $500 between 2020 and 2021. There are many other exchange tokens in the industry, but we will be looking at Crypto.com’s CRO token and Binance BNB token.

CRO Coin- Crypto.com’s Native token

CRO is the native token of the Crypto.com blockchain. Like all blockchain, it is built for DeFi-related projects, and to fast-track crypto transactions and adoption. Although crypto.com was founded in 2016 and headquartered in Hong Kong, The native token went live in 2018. Crypto.com’s mission is to accelerate the world’s transition to cryptocurrency. According to CMC, as of press time, CRO is currently trading at $0.49. It has a 24hr trading volume of $195,635,513. CRO is in the top 20 categories of coins listed and sits at number 16, with a market cap above $12B.

CRO has grown in popularity over the last few months and is on the list of high-cap coins that are still very affordable. With a strong leadership team, it is gradually positioning itself as a trusted exchange fit to challenge other exchanges. With a vision to integrate gaming, Metaverse, and NFTs, etc., Crypto.com is positioning itself to also be a leader in web 3.0.

BNB Coin- The Binance Native Token.

BNB is the native token of Binance, which is the biggest crypto exchange in the industry by trading volume. The Binance exchange processes billions of dollars worth of crypto every day. It was founded in 2017, and since then has maintained its status as the leader in all crypto-related transactions. The Binance Token, BNB, is one of the most successful tokens in the industry after ETH. It rose from $20 to $500 in the space of 3 years and sits at number 3 according to CMC ranking. It is currently trading for $510 as of press time. Binance currently offers the lowest transaction fees in the entire industry.

The bottom-line

BNB and CRO are reputable exchange tokens. Both tokens and exchanges will always compete to beat each other. However, you can always decide which works best for you because decisions in finance are always in the hands of the end-user.

But you should know, competition among exchanges is common. But, what gets the attention of users is their ability to offer perks that their competitors are not offering. However, most of these exchanges are specific about their rates, commissions, provisions, offerings, and rewards. You should carry out extensive research to determine which suits you best.

Leave a Reply

Your email address will not be published.

Related Articles
Read More

Crypto & Chill: Asia’s First Crypto Hub In Bali

Forget ‘Netflix and Chill’, now it is the time to 'Crypto and Chill' in paradise. Indonesia’s leading crypto exchange, Tokocrypto (backed by Binance), has recently launched Asia’s First Crypto Hub and Education Epicenter, T-Hub, in Bali, Indonesia, which aims to take crypto education to the...
Read More

Crypto Exchanges In The UK Subject To A 2% Digital Services Tax

The US recently passed the Infrastructure bill that subjected crypto brokerage firms to tax reporting requirements. The United Kingdom seems to be following in these footsteps with the digital services tax. The digital services tax is an addition to Her Majesty’s Revenues and Customs (HMRC)...
Read More

Huobi Chooses Singapore As Its New Regional Headquarters

Huobi Chooses Singapore, Plans Further Expansion to Europe in 2023The news was revealed by Huobi's co-founder Du Jun, according to a report by Bloomberg on Tuesday (Nov. 30, 2021). Jun noted that Southeast Asia was an attractive market for cryptocurrency businesses due to the fact...
Read More

Small But Mighty : Andrea Shaw – bitFlyer USA – CEO

Cryptocurrency is constantly moving. Every second, coins are bought, swapped, and sold. Crypto price graphs look like jagged mountain ranges with giant peaks and valleys. There are no days off for cryptocurrency, unlike in traditional finance markets. Crypto never sleeps.  bitFlyer, one of the largest...
Total
0
Share