The multitude of innovations that occur as the crypto space constantly evolves and includes new methods and solutions is one of the most significant advantages, allowing consumers to pick between multiple comparable yet distinctly different solutions based on their individual needs. The several blockchain networks accessible, each with its advantages and oddities, are among these highly significant advances. Because many projects that produce their own tokens choose to make them available on many networks, traders and investors can benefit significantly from having access to all of them – something that trading platform PrimeXBT recognizes and is why it has added support for the BNB Smart Chain.
What Is The BNB Smart Chain, And How Does It Work?
In a nutshell, BNB Smart Chain (previously known as Binance Smart Chain) is a public blockchain with smart contracts that runs alongside Binance Chain, the original blockchain of major crypto exchange Binance.
The chain gives developers access to a new method of decentralized finance (Defi). As a little speedier alternative to Ethereum (ETH) with much lower fees, it’s an excellent choice for developers looking for better blockchains. It also makes it easier for those who have previously worked with Ethereum to switch to the BNB Smart Chain because it is compatible with the Ethereum Virtual Machine (EVM). The same is true for projects now running on Ethereum; you can easily port them here without having to recreate all of your previous work.
BNB Smart Chain provides a simple function for end-users who aren’t interested in the developer side of things: an alternative to Ethereum and other Defi chains and protocols. It’s sometimes easier to buy tokens native to the BNB Smart Chain, or you receive a better bargain or prefer the lower costs. The keyword here, regardless of your rationale, is choice. The decision is entirely in your hands since you get to make it yourself rather than having it made for you by a trading platform that only supports one network.
Support For The BNB Chain Is Now Available On PrimeXBT
PrimeXBT is a company that specializes in Bitcoin trading.
BNB was another one of the 24 cryptocurrencies added to PrimeXBT earlier this year. We listen to client comments and market demand on a frequent basis, and we make choices with one ear to the trade tape. The addition of BNB Chain support for all supported cryptocurrencies is just another way we’re working to make the platform more user-friendly and stay ahead of the curve in the crypto market.
On PrimeXBT, you can start benefiting from decreased blockchain fees right now. Keep an eye on our official blog for more information and new features as they become available. Remember to follow us on Telegram, Twitter, and the new Discord.
In addition to Ethereum-based tokens and BTC, PrimeXBT users will now be able to deposit and withdraw crypto using BNB Chain. BEP-20 versions of USDT, USDC, and COV may also be deposited to a supporting, safe crypto wallet, in addition to BTC, ETH, and ERC-20 versions of USDT, USDC, and COV.