The crypto space teems with thousands of different coins and tokens (15,000 and counting). Thus, it can be quite challenging to find the asset for your investment portfolio or daily usage. This article will delve deep into two well-established cryptocurrencies —Binance Coin (BNB) and Monero (XMR).
Here, you will discover everything there is to know about these two coins, as well as a detailed price analysis of their history on the market. And, most importantly, we will provide you with a detailed guide on how to swap BNB to XMR anonymously.
Monero and Binance Coin Comparison
Before we go to BNB and XMR price analysis, let’s learn the basics of these assets.
What Is Binance Coin (BNB)?
Binance Coin (BNB) is the utility token of the Binance crypto exchange. Released in 2017 through an ICO, the public sale managed to raise $15 million — solid capital for a new crypto exchange.
Initially, BNB had one simple use case — to provide Binance traders with discounts for paying trading fees on the exchange. However, it has grown into full-fledged decentralized finance (DeFi) token, with staking capabilities on the BSC.
All BNB coins were pre-mined, with a maximum supply of 200 million tokens. However, according to the burning mechanism that is embedded in the protocol, every quarter, the Binance team destroys a certain number of BNB tokens to reduce the total supply.
This burning event will occur until 100 million BNB are burned (50% of the total supply).
What Is Monero (XMR)?
Monero is one of the most popular privacy-focused cryptocurrencies on the market. It focuses on providing its users with untraceable transactions and obfuscates their IPs and identities from the blockchain. To achieve this, Monero uses ring signatures, which mix transactions from multiple users, making the end result impossible to discern for the external observer.
Released way back in 2014, Monero has seen numerous updates to its privacy protocol, making it one of the most secure cryptos available today. Worth noting is that XMR is mineable, with an unlimited maximum supply, of which 18 million coins are already in circulation.
BNB to XMR Price Tendencies
BNB has been in constant growth throughout its history. It started its journey on the markets with a price as low as $0.1 and quickly rose to the $20 mark during the 2018 bull run. While the price retraced considerably during the subsequent crypto crash in 2018, it managed to hold its ground when other cryptos were suffering. During 2019, it was one of the best-performing cryptocurrencies, where it made 300% gains when almost everything else was trading in the red.
Fast forward to the current bull market, BNB saw some incredible growth, going from $40 to $650 in 2021 alone. This was mainly due to the release of the Binance Smart Chain, which opened an entire smart contract ecosystem where the BNB token can be used for transaction fees and staking.
XMR, on the other hand, had reached a peak of $470 in the 2018 bull market. That said, it lost most of its value when it crashed to $40 just a few months after reaching this all-time high. Over the following years, XMR traded between $50 and $100, never really managing to break out of this trend.
In 2021, however, XMR managed to beat its previous all-time high — $517 in May. Now it has followed the bullish trend, showing that investors were still quite interested in this privacy coin.
How to Swap BNB to XMR?
With all that in mind, you might be interested in how to proceed with a BNB to XMR exchange or the other way around. And since Monero is privacy-focused, choosing an anonymous crypto platform might be your best option.
Godex.io will provide you with a streamlined swap between these two tokens. You don’t need to provide any personal details or even create an account to proceed with your transaction. Simply visit the exchange, choose BNB and XMR as your trading pair in the converter, and provide your wallet address. It’s as simple as that!
Moreover, a BNB or XMR wallet can be a great way to earn some extra income. The best cryptocurrency faucets commonly use these two cryptos for rewards because of their low transaction fees (BNB) or privacy (XMR) capability.
Hopefully, this article has given you a good overview of BNB and XMR, which are two of the most used cryptocurrencies for transactions and payments today.
Their optimistic price action shows us that they have still more room to grow and potential as long-term investments.
And if you value your anonymity, there’s no better way to maintain it than swapping BNB to XMR on Godex.
- How to Exchange CAKE to CRO?
- Stock Tokens: What They Are & How They Work
- What’s The Truth About Bitcoin And Cryptocurrency?
- The 10 Most Expensive Coins In The World
- Will Bitcoin Remain The Dominant Cryptocurrency?
- Upsides of earning some free NFTs sitting at home
- The 10 Most Expensive Cryptopunk Nfts
- Is digital Yuan only confined to Chinese citizens?
- Is Cryptocurrency Mining A Waste Of Electricity?
- Front-running in crypto trading