Devin’s Daily Crypto Tips

The market keeps rising! While I’m taking a more cautious approach to this spike, it certainly is indicating that the bottom may be in. I personally think we will see a pull back over the next few days.

Anyway, the most common question I have been asked over the past few days is “What are your top cryptos for the next bull run?”.

As a few have now changed, I want to dedicate the next 5 Newsletters to the Top 5 Cryptos in 2019.

I was going to put all 5 in one Newsletter but it was just far too long. This first crypto will be shared with everyone, but the other 4 will only be for paying subscribers.

This is of course my own opinion based off of my research and experience. Always do your own research before investing.

Market Cap: $171,075,595,404 (Higher)

BTC Dominance: 50.7% (LOWER)

Bitcoin Price: $4,950 (Higher)

1) Binance Coin (BNB)

Binance Coin (BNB) has already had an incredible start to 2019, increasing from $6 to almost $20 in just a few months. This type of return hasn’t been seen for a very long time in the crypto space.

BNB currently sits within the top 10 cryptocurrencies by market cap, and has a very high volume due to Binance pushing the use of their native token.

So, what exactly is Binance coin?

BNB has a total supply of 200 Million and is actually an ERC-20 Token - meaning it runs on the Ethereum Blockchain - and is compatible with MyEtherWallet and all other ERC-20 Token wallets.

BNB is Binance’s native token, and performs many functions on the exchange and throughout the ecosystem.

What is it used for?

1) Trading

Binance promotes using their native token by offering substantially discounted trading fees when using BNB. This alone will shift a proportion of traders and investors to choose BNB as their currency pair instead of Bitcoin or Ethereum.

As Binance controls a significant amount of volume, they have a huge audience that can (and will) use BNB to trade.

2) ICOs

Binance have very cleverly (and recently) introduced their launchpad ICO platform where users can invest directly in vetted ICOs on Binance. Binance have changed the rules to a lottery based system where users will be randomly selected to participate in the ICO’s, but there’s a catch… they have to own BNB.

Users can gain up to 5 tickets by holding a certain amount of BNB.

WARNING: Due to the nature of this lottery based ICO, expect volatility in the price near the time of the ICOs.

Why is BNB my no.1 pick?

The “Secret” that many people overlook… “Binance plans to use 20% of [their] profits each quarter to buy back and burn BNB, until 50% of the total BNB supply (100 million BNB) is burned.”

In other words, the supply is constantly decreasing and will stop at 100M.

So, as supply decreases, take into account the following…

Binance is the most popular exchange, and has positioned itself to be so for the foreseeable future.

As the overall market cap increases, users on the platform will increase in parallel - meaning BNB will naturally have a higher demand (for the reduced fees).

As the market increases, demands for ICOs will increase in parallel - meaning the demand for Binances launch pad will increase.

As the market cap rises, Binances profits will increase (more users, more volume etc).

The profits used to Binance Coin will increase the price of BNB (given a rising / flat market)

As the supply dwindles down to 100M, the economics of supply vs demand will increase - meaning people will FOMO into BNB.

Rising tide… even without the above, BNB will increase with the overall market cap. But the above reasons are why I believe it will increase much more than average.

Where to buy BNB: Binance

…lol… this is really the only place to buy BNB and I’m sure you’re already on Binance so that should be ok.

If not, click HERE to sign up.

Where to Store BNB: MyEtherWallet or Binance

MyEtherWallet is a paper wallet that is compatible with all ERC-20 tokens, click HERE to visit.

You can also store your BNB on Binance, my rule of thumb is that as long as no more than 1/3 of your overall holding is on any one exchange then you should be ok. I normally store 1/3 in cold wallets, 1/3 on one reputable exchange and 1/3 on another.

Let me know what you think of Binance coin. Any questions, just let me know.

All the best,

Devin

This is a public episode. Get access to private episodes at devin.substack.com/subscribe