2 Risk-Free Tokens for Bull Market 2023: Bitcoin (BTC) and Binance Coin (BNB)

Nishita Gupta
Nishita Gupta March 27, 2023
Updated 2023/03/27 at 5:20 AM

Investing in the crypto market is like riding an unpredictable rollercoaster. To maximize profits, investors are continually searching for the next big opportunity. In 2023, the market is predicted to be in a bull run. Many investors are looking for risk-free options that can offer stable returns. We’ll explore two tokens considered low-risk options for the 2023 bull market: Bitcoin (BTC), and Binance Coin (BNB).

Bitcoin (BTC): The King of Crypto

Bitcoin (BTC) is the most popular cryptocurrency. It has a limited supply of 21 million coins. The low supply makes it scarce and valuable. Bitcoin (BTC) is also frequently used as a form of payment and a store of value. It has a devoted following and a powerful network impact. Many investors agree that Bitcoin (BTC) is the market’s safest and most dependable cryptocurrency.

Bitcoin (BTC) is not governed by any middleman or central authority. Instead, it relies on a peer-to-peer network of nodes, which validates transactions and upholds consensus. Without authorization or trust, anybody may join the network and take part in the Bitcoin (BTC) protocol.

Cryptography is used by Bitcoin (BTC) to safeguard transactions and avoid duplicate spending. A Proof-of-work (PoW) consensus mechanism is used to generate new blocks and compensate miners for their labour. PoW requires a lot of computational power and energy, making it difficult for attackers to manipulate or reverse transactions.

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Binance Coin (BNB): The Utility Token of Binance

Binance Coin (BNB) is the native token of Binance, the world’s largest and most trusted cryptocurrency exchange. Binance Coin (BNB) can be used to pay trading fees on Binance and access various services and products offered by Binance and its partners. Binance Coin (BNB) also benefits from the growth and innovation of the Binance ecosystem, which includes Binance Smart Chain, Binance Launchpad, Binance NFT Marketplace, and more.

Binance Coin (BNB) was launched in 2017 as an ERC-20 token on Ethereum but later migrated to its blockchain called Binance Chain. Binance Coin (BNB) has a total supply of 200 million tokens. Every quarter, Binance uses 20% of its profits to buy back and burn Binance Coin (BNB) tokens until 50% of the total supply is destroyed. This reduces the inflation rate and increases the scarcity and value of Binance Coin (BNB).


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