Binance Coin is now available on eToro

eToro is now offering Binance Coin, BNB, to its users. Binance Coin holds a market cap of $1.1 billion and is currently ranked as the 16th-largest cryptocurrency. eToro allows its investors and traders to buy or sell using fiat currency.

There is a daily investment limit for BNB and that it might be periodically unavailable for new investment throughout the day. The closing of open trades will be available at any time.

For those who do not know about BNB token, it is an ethereum token that was created by the world’s largest cryptocurrency exchange, Binance, in mid-2017. Binance offer BNB pairing, along with BTC and ETH, for most of the cryptocurrencies. Right now, BNB enjoys marketcap of more than 1.2B dollars.

If you have BNB token stored on Binance, you can use it to receive nominal discounts on commissions at their trading platform. This, of course, drove demand for the token among traders, giving it a value at beginning of its life. The value increases over time for an entirely different reason though.

Binance has committed to buying back the tokens and burning them over time, making them more and more rare and thus, more valuable. Binance is transparent about this and publishes quarterly report on its profit and token burns.