CoinDCX Is Listing Binance Coin In The INR Market

Indians can now buy Binance Coin(BNB) with INR on CoinDCX. The detailed view on the price analysis and the reason for listing is here.

Binance Coin(BNB) is a native token of Binance and may fuel the operations of the Binance exchange and its ecosystem. In a short span of 28 months Binance is now the world’s premier destination for trading cryptocurrencies. Mostly, BNB is applicable to pay trading fees on Binance.

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BNB In The INR Market

BNB is one of the industry-leading utility token. It is one of the highly demanded utility token to newcomers because of its high ranking in the crypto space. Specifically the most beneficial to the Indian Subcontinent.

Binance plans to increase the cryptocurrency inclusion in India saying,

By introducing BNB as a tradable pair with INR, we further our vision of increasing cryptocurrency inclusion in India. Not only does a BNB/INR pair make it more accessible to those trading out of the Indian Subcontinent, it also brings liquidity from this emerging economy directly to the Binance Coin market.

With this listing, Binance plans to spread this world’s biggest exchange to all the Indian users. Also, with this listing the BNB holders and traders can directly convert their BNB to INR, or can even buy more directly with a stable fiat. Along with adding liquidity to CoinDCX’s INR marketplace, it will also bring  greater volumes to all those trading in BNB.

BNB Price Analysis

On 30th January 2018, 1 BNB would cost you around INR 894. Exactly, a year before on the 30th of January 2018, 1 BNB costs INR 436. But today, on 09 February 2019, 1 BNB costs INR 628.

As per BlockNovum, the Present Value (PV) of BNB is 88% based on current utility and 12% based on future utility. And, if this PV calculous holds true for even 10 years, it is clear that the usability of Binance will definitely increase. With the days approaching, people will trade more as well as use the binance ecosystem, the demand and value of BNB will ultimately inflate.

Along with some more variables found on BlockNovum, it gives BNB a 7.6/10 rating as well as a 5 year value of INR 1261. Eventually, investing in BNB will now bring a 190% increase in capital in 5 years.

What is your take on this BNB listing in INR market? For more such updates you can subscribe to our Newsletter.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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