Binance stable coin

[royalfestus]

I think binance is exploiting every downside of cryptocurrency to build his empire for trade, they should have enough fund in the bank to support the coin. The focus will be from Europe to the largest crypto market in Asia and its blockchain platform will grow to match Ethereum in a shorter time. The stable coin is in its right time towards the bull market to encourage store of value

[pixie85]

I'll say it again. We don't need stablecoins. As USDt proved stablecoins can be easily manipulated and they have no real value like known altcoins because they have no trusted issuer and no limited supply.

Buying stablecoins is like investing in a shitcoin without doing any research. You trust that this company that is promising you value will deliver.

[CryptoLogo]

Binance wants to control most of the crypto sphere. You have to decide how to treat this. In my opinion there should be no crypto monopoly.

[pushups44]

Guys what do you all think about the most stable coin vs Binance stable coin.

The more competition there is to Tether, which operates untransparently, the better. So I fully support Binance stablecoins. However, it seems the Facebook stablecoin will be a force to reckon with.

[michellee]

Guys what do you all think about the most stable coin vs Binance stable coin.

The more competition there is to Tether, which operates untransparently, the better. So I fully support Binance stablecoins. However, it seems the Facebook stablecoin will be a force to reckon with.

I see the chance for binance to grow will be wide open than Facebook stable coin because they never try cryptocurrency before, and that will their first time to involve in the cryptocurrency. So Facebook stable coin needs time before they can compete with the other stable coins. But for Binance, I think it doesn't need a long time to compete with the other coins because Binance already has the experience in the cryptocurrency.

[Kucink]

yeah this is agood information, if Binance (BNB) be a stable coin that mean it will never get affect by market condition.
i hope with this stable BNB will grow up and up so on and be the bigger coin in cryptocurrency.
so i think like that, because the progress of BNB is really good.

[dimonarka]

Yes, I heard about this news about the launch of its own stable coin and I believe that Binance had to do this for a long time as this is a very promising exchange that will be in the top with time and having a stable coin should help this exchange to secure its assets. As far as I know that many projects are now thinking of this.

[Yalovtsev]

Yes, stable,especially over the last year it showed its result that while there was a correction of 1.5 years,it did not lose a drop in price at all,but only increased its value,so that investors who invested in BINANS did not lose during the correction not a penny,who holds tokens

[Lagonda]

Binance stable coin is a piece to fill up Binance ecosystem, including exchange, decentralized exchange and Binance chain. With Binance's fame and reliability, the stable coin will have huge advantages to compete again Tether, Pax or any other stable coins. I'd love to see how Binance will launche their GBP backed stable coin.

[passwordnow]

Ohh, I thought that you are joking about Binance's stable coin but I just looked at the news and it's recent.
https://www.coindesk.com/binance-confirms-stablecoin-offerings-coming-soon-report
https://www.ccn.com/binance-stablecoin-first-hurt-tethers-dominance
Their coin will be backed by British pound, so it won't rely to dollars I think they're up into something just to change the game of the market.

Yes, I have read this article, nowadays more and more stable coins and according to the article above Zhou has no plans to make stable coins supported by the US dollar.
At present, Binance looks fast to develop their projects, there are many new tokens exchanging in the Binance chain and I think this situation will increase BNB prices in the future

Yes it won't be backed up by dollar because it will be British pounds. Binance just never stops of innovating, they have many ideas that gives excitement to the market. First, it was their exchange backed up coin, next the IEOs and then there's DEX. And now, they have this idea of having their own stable coin that will be backed up by another currency and it's first of its kind again. Most of the stable coins has been backed up by US dollar, I won't say this is huge but most of their ideas are unique.

[hohuan101]

Ohh, I thought that you are joking about Binance's stable coin but I just looked at the news and it's recent.
https://www.coindesk.com/binance-confirms-stablecoin-offerings-coming-soon-report
https://www.ccn.com/binance-stablecoin-first-hurt-tethers-dominance
Their coin will be backed by British pound, so it won't rely to dollars I think they're up into something just to change the game of the market.

Yes, I have read this article, nowadays more and more stable coins and according to the article above Zhou has no plans to make stable coins supported by the US dollar.
At present, Binance looks fast to develop their projects, there are many new tokens exchanging in the Binance chain and I think this situation will increase BNB prices in the future

I still do not understand why they do not use the dollar to protect, right? Will using GBP be more profitable than USD? And what is the real benefit?

[shimlbit]

I keep more than half of my deposit in bnb and do not worry. This exchange has a very good business model, which is aimed at the years ahead.

[Ibizugbe1]

We already have many stable coins, and if they want to launch theirs, good! it's another way of making more money, since they may not trust the ones already in the market, and they are planning to expand more.

[passwordnow]

Ohh, I thought that you are joking about Binance's stable coin but I just looked at the news and it's recent.
https://www.coindesk.com/binance-confirms-stablecoin-offerings-coming-soon-report
https://www.ccn.com/binance-stablecoin-first-hurt-tethers-dominance
Their coin will be backed by British pound, so it won't rely to dollars I think they're up into something just to change the game of the market.

Yes, I have read this article, nowadays more and more stable coins and according to the article above Zhou has no plans to make stable coins supported by the US dollar.
At present, Binance looks fast to develop their projects, there are many new tokens exchanging in the Binance chain and I think this situation will increase BNB prices in the future

I still do not understand why they do not use the dollar to protect, right? Will using GBP be more profitable than USD? And what is the real benefit?

Just to be new? I don't know the reason behind why CZ chose to pegged with GBP rather than dollar. I think it's okay to do it since most of the stable coins were pegged by US dollars. I don't see any issue regarding that but this might be the reason.

Zhou also said that Binance will make money off of interest on fiat deposits, similar to Tether.

[omonuyak]

I keep more than half of my deposit in bnb and do not worry. This exchange has a very good business model, which is aimed at the years ahead.

Binance do really mean business and it is currently one of the best exchanges. I am hearing about this binance stable coin for the first time and I think binance is about to have another impact on the cryptocurrencies market and since many whales are trading through binance I think binance really need that type of coin.

[naruto7676]

We can say binance is good exchanger because it is the top one or the number one exchanges but not all coins that are listed here is stable and dont dump as i know this cryptocurrency market has the volitility so no stable here and if we talk about investments i will go to this project because this is a good potential project the Dencoin tokens and this project will be sooner be successful.

[asbak66]

Looking forward to this. Curious why cz have an idea to create his own stable coin since there are lot stable coin out there is already using by so many exchange and community. Let's wait for the usability and the advantages compared to other stable coin.

[digitalblock]

In my opinion, Binance does not have a priority opinion on this matter. They use new tools that they develop themselves. This gives hope that the price of BNB will rise.

[10c]

In my opinion, Binance does not have a priority opinion on this matter. They use new tools that they develop themselves. This gives hope that the price of BNB will rise.

You can’t be so sure about the price of this coin. it may be as unstable as any other coin in this market. Poloniex, too, was the best exchange and all people were using it.

[kindbtc]

I somehow do not like the fact that binance is conquering everything related to crypto they are getting stronger and bigger in monopoly and there is high need that we soon see some good competitors for binance otherwise binance will easily become the biggest crypto manipulator and will be able to control the market as and when it wants.