BNB And HODL

This is an entry for the #bitcoinbooming contest that is on-going right now on steemit. In order to enter the contest you will need to write about a coin that you are holding that you want to see boom or write about a coin you would want to buy and hold. Here are the rules:

https://steemit.com/steem/@steemitblog/steem-crypto-challenge-bitcoin-is-booming-what-about-your-favorite-coin

BNB is one of those coons I wish that I owned more of and I always have it on my mind a coin to hold long term. The only reason did not buy it back in the day or thought about getting it to add to my portfolio is that the coin did not, at the time, buy out dividends. There were other market coins that paid out their fees to coin holders and this lead to you getting a return for holding the coins.

But now Binance has the launchpool and savings account which lets you not only earn more BNB for staking your BNB but get other coins as they get launched on the site.

The Launchpool

This is a great idea when it comes to doing defi. A lot of sites offering you one coin for staking coins or getting into an LP but this is system that rewards you will multiple coins just for staking in one pool. When a coin is added to the launchpool you will get some of that coin everyday depending on your percentage of BNB that you are holding. You also keep getting the other coins that are active in the launchpool and you will get a return on your BNB as you would if you put your money in a savings account. It is a smart way to bring value to the BNB coin and leads to a set it and forget it system for passiv e investors.

Why BNB Is A Solid Coin

BNB is the coin for the BInance site. Binance has become a strong force in crypto with it's exchange and they have expanded over the years. There is no denying the revenue that Binance brings in on a daily basis and with a strong business model it helps the longevity of the coin. On top of the exchange they have also launched BSC which is a smart contract for binance where you can sue your binance coin for dapps. It is still in the early stages but it could lead to some really popular dapps that will bring a lot of utility to the coin.

Price

Right now the coin is sitting at $27 and is one of the top ten coins on the market.

I do not know if I will be buying any soon as my finances are not in the best spot but if the market turns and I can start to sell some of my coins then BNB is on my list of coins that I would hold for the long term. If there is another bear market after a bullrun this could be a buy on my list.