Binance Coin Live Price Data in South African Rands | (Binance Coin in ZAR)
Binance Coin current price is R 6,916.68 with a marketcap of R 1,157,288,452,802.29. Its price is 1.45% up in last 24 hours. If you would like to know where to buy Binance Coin, the leading cryptocurrencies exchange in South Africa for trading in Cryptocurrencies are VARL, Luno and Binance
Should I buy Binance Coin at R 6,916.68?
Considering the 1.45% up change over the last 24 hours, you may be wondering whether or not to buy Binance Coin. If you want to buy Binance Coin, it is important to first check the Fear and Greed Index below. If the index is on red that’s signaling a buying opportunity. When its on green that is signal to take profit or stay away.
Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name "Binance" is a combination of binary and finance.Thus, the startup name shows that only cryptocurrencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing.In total, there will only be 200 million BNBs. Binance uses the ERC20 token standard from Ethereum and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees and others. Binance gives you a huge discount when fees are paid in BNB.The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount. This structure is used to incentivize users to buy BNB and do trades within Binance.Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018. The coins are then burned. This means that they are devaluated to increase the value of the remaining coins. This benefits investors. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas.Other tokens that are issued by exchanges include Bibox Token, OKB, Huobi Token, and more.
The crypto market behavior is emotional. People tend to get greedy when the market is rising which results in FOMO (Fear of missing out). Also, people often sell their coins in irrational reaction of seeing red numbers. The Fear and Greed Index, tries to save you from your own emotional overreactions. Using two simple assumptions:
Extreme fear can be a sign that investors are too worried. That could be a buying opportunity.
When Investors are getting too greedy, that means the market is due for a correction.
Therefore, alternative.me analyzes the current sentiment of the Bitcoin market and crunch the numbers into a simple meter from 0 to 100. Zero means “Extreme Fear”, while 100 means “Extreme Greed”. See below for further information on our data sources.