How Binance became one of the most valuable Cryptocurrencies in the world

just yesterday the by Nance B&B coin became the first ERC 20 theorem utility token to make it to the top 10 most valuable coins by market cap in the world this is a huge achievement and proof proof of what smart token economics can achieve then we covered by Nan's coin in detail back in August 2018 and showed how it had outperformed and appreciated during bear market conditions for a good part of 2018 so today we're gonna have a fresh look at Finance by examining how its strategically planned Network effects have catapulted this crypto into the upper echelon so stick around and let's get into the video [Applause] as we can see here over on the bond inside this is a press release that they published yesterday ten for ten how the bonds ecosystem drives B&B to top ten and them said either by Nance coin B&B recently reached top ten on the crypto currency list according to coin market cap as of february 7 2019 at barnes we are honored to receive your continued trust and support and we dedicate this achievement to all our bond anciens for believing in our shared growth path as I said we covered the Barnes coin in detail we completed a case study on its token utility back in August two thousand eighteen and showed how it had appreciated it and outperformed the entire cryptocurrency market in bear market conditions he was a snapshot of it from the all-time high index that showed other than tether which is a stable coin so I can be disregarded the by Nance coin had only had only came down a 51% from its all-time high with the next coin being 0x at 66% as we can see in this other snapshot here this was the this was the total cryptocurrency market cap from its peak in January all the way down to August when we did this article and he was the buy Nance coin that appreciated from the low that was hit in February all the way up till late July truly incredible stuff and we go into even how the the ICO rating was quite low as three point six there was even a low one at two point three and this goes to show you that sometimes these ICO ratings don't always tell the full picture or give enough credibility to what a project can actually do given the right leadership and strategy so when we look at the all-time high index now and we disregard these top four coins at all stable coins we can see that by Nance has still outperformed every coin other than this hollow coins abundance is the second highest performer even one on from the start of this bear market truly incredible stuff so how has this exchange now has by Nance placed itself in a position where it has been able to perform so well in such awful bare market conditions what we're gonna do in this video is explain something called network effects and how by Nance has leveraged these these network effects in order to grow its platform and gain wide exposure and as a result get high performance out of their token during the past 12 months so what exactly is a network effect well the official definition or the more formal definition is that it is the fact the effect described in economics and business that an additional user of a good or service has on the value of that product to others when a network effect is present the value of a product or service increases according to the number of others using it so the way we apply that to crypto currencies when they have a utility token is that the more users using the platform from which that utility token is attached to we can say that a positive Network effect will take place as users grow and thus will lead onto a potential for appreciation of the token because we have to remember there's also speculative forces at play but when we look at fundamentals the network effect explains how the growth of an ecosystem the growth of an application will lead to potential appreciation down the track so what we've done today is we've broken down three major categories of the finance network effects and we're gonna explain each of those in this video now I should mention these are not exclusive there are going to be other network effects I didn't mention or didn't cover but these are the most significant that I recognized when doing the research did this video so let's get started oh and by the way this little infographic on the side here this represents the by Nance Queen and each of these numbers represent the three categories that we're going to cover so the first major category is user acquisition now the first Network effect that took place is by Nance built a very fast platform now I'm not sure if you guys have actually used by Nance or not but it is incredibly quick when completing trades buying coins or really doing anything on the website the speed leads to an improve user experience and when people are conducting trades based on very quick data that's coming in from news or other indicators speed for a day trader or a swing trader is absolutely critical so buy Nance have built a platform that is incredibly fast and thus has had a positive Network effect on user acquisition as a result next up they had a very generous referral program now when bondings first first launched their referral program was paying up to 50 percent of anyone that clicked through or referred someone through their referral link not only that but these fees were paid instantly in real time now you have to remember finance was launched in the later part of the bull market so there was lots of money being made there was lots of new people coming in to crypto and those that jumped on this referral link very very early sort tremendous gains in fact if you actually log into the bindings platform you will see the top three referrers and each of them has earned over a hundred Bitcoin even one has earned over a hundred and sixty Bitcoin merely from this referral program so you really can't understate the network effect this referral program would have had on Finance for user acquisition absolutely huge because it was such a generous referral and I think that bonnet is still paying around 40 percent referrals 20 to 40 percent next up they have a large coin listing so with so many different trading pairs on buy enhance markets for the token on Bitcoin markets on etherium markets and on tether markets for a user experience by Nance has really become a one-stop shop because no one really wants to use multiple exchanges it's clunky there's a greater risk of something going wrong because you've got multiple passwords to manage multiple addresses to same coins to sober bindings having a large coin listing that's going to help acquire users who only want one exchange and again they had that fast snappy exchange as well and next up we had trust built from communication and Saifu now what I mean by communication is by nerds as an organization is very transparent and their communication on their Twitter which we'll go through in just a bit is really second to none they understand the crypto community they understand their users and they are fantastic with their communication and things that might be going wrong on the platform at any time they communicate that to their user base the next one here is called safer or the secure asset fund for users so last year there was an issue with a couple of coins and a compromise of the Finance API as a result Finance set up the security fund for users whether we're going to allocate 10 percent of all trading fees received into Saifu to offer protection to the users and their funds in extreme cases this fund will be stored in a separate cold wallet so this is a huge trust-building event that by Nantz did to build trust with the community to retain users and to grow their user base so that's user acquisition that's one of the first major network effects and this is one of the ones that by Nantz attacked first because it knew that it needed users on the platform and needed a new that it needed a very fast very snappy platform to retain those users and they execute it masterfully so next up number two business onboarding so this is the consumer and then they moved on to businesses first one coins get liquidity and user base so when a coin lists on by Nance they have access to the millions and millions of users that have an account with finance finance has hundreds of thousands of daily active users so any coin that gets lists here listed here gets access to that massive user base and the huge amounts of trading volume and liquidity that happens on by Nance finance is really any number one exchange I would say only second to coinbase that various utility or other types of tokens wanted to get listed on so from a business perspective for these projects launching I SEOs and then having a token buy an answer be the number one place they're looking to get listed as soon as the Osseo gets finished easier said than done second of all Launchpad cross promotion now this is a huge one except they don't actually have the launch pad in front of me Launchpad cross promotion so the by Nance Launchpad is where it lists other projects that they support they promote and then people who are users of Finance can invest into those projects so by Nantz will promote that project but that project itself will also be promoting the fact that it's on the by Nance Launchpad a good example is the recent BitTorrent ICO that apparently sold out in just a matter of seconds raising seven million dollars and that was listed on the finance Launchpad so that really can't be understated as a huge network effect that is occurring between the businesses that get listed on the launch pad next up we have BnB merchant adoption now with B&B what would the finance team have done despite this being Tildy token they have worked relentlessly to have the by Nantz token be used in as many ways as possible adding additional utility and actually giving it credence as a currency and store a value to be used at different merchants so here it is some of the places that you can use B&B so that said here you can use it to pay twenty five percent discount on your fees you can use it at travel by bit with merchants in Australia you can pay credit card bills with BMB buy virtual gifts on gift oh and so on so the team have worked hard for to get the token listed on merchant adoption and that also contributes to cross promotion between these businesses then we have acquisitions so boy Nance has started acquiring other companies six months ago by Nets acquired trust wallet which was a secure mobile crypto wallet so as finance continues to make more revenue as they grow and the network defect grows they can start to afford to acquire other companies that are in line with their business model with their vision and then and that will help to further increase their network effect don't be surprised if you see a number of of more acquisitions that'll happen in the following months and years I believe that the capital that by Nance has behind it they will go on an acquisition spree in the months and the years to come picking up all the good and aspiring startups that will help to build its ecosystem and grow its network effects so the third one we have is exposure exposure being the attention that people give to buy Nance the media coverage and so on so firstly we have an active and influential CEO so seesee alone has two hundred and seventy eight thousand followers on his twitter account i follow'd CZ for a long time and i can tell you he is a modern active engaging and friendly CEO look at him here retweeting Andres Antonopoulos Antonopoulos plug freeze book he responds to people he retweets things he pages with people he answers questions it has live AMAs this is this is the the real epitome of a modern 21st century CEO using social media platforms to his benefit cross promoting his platform and engaging with his community next up we have engaging community management so by Nance's own Twitter account nine hundred and twelve thousand followers I mean we just have to remember still at how new crypto is how young crypto is so to have known that and travel twelve thousand followers on an on an exchanging a crypto exchange account is a really big deal now the by Nantz community they have excellent customer service they engage with people they sponsor events and so on and so forth so that's the second component to the exposure network effect thirdly media covers by Nantz success so here over on Google of just topped in Forbes by Nance and look at all the times Forbes has actually written about finance or change things out the CEO here we have here we have champagne cz on the cover of Forbes so Forbes absolutely love this guy they love this success story crypto seeker billionaire Club zero to billionaire in six months they love writing about cz they love writing about finance and that's due to the monumental success that the platform has had in such a short amount of time and then lastly we have projects cross-promote for listing merchants and launchpad so when we come back to the launch pad when we come back to the projects wanting to get listen on baniyas finances become such a significant figure in the industry that all the projects that have anything to do with by Nantz will cross promote the fact that they with finance that that further bolsters the network effect by getting more eyeballs on the platform play increasing the brand awareness and by increasing exposure it self-fulfilling prophecy so these three major Bioneers Network effects I believe what has significantly contributed to its success I think the bond hands team have executed them masterfully and a continuing to do so today and provided these three network effects keep on going which I think they will the by Nance token remember is intrinsically linked to these three network effects so guys that's it for the video I hope you enjoyed that breakdown of these network effects I hope you've gained some some knowledge and some insight from it if you want me to look into any other projects or coins and do a similar analysis please let me know if you liked the video be sure to give us a like and if you haven't subscribed be sure to come on board and subscribe or leave a comment and tell me what you thought of the video so that's it from me thanks again for watching and I'll catch you the next one Cheers

18 thoughts on “How Binance became one of the most valuable Cryptocurrencies in the world”

  1. №№№№№№Paramayning is the key advantage of P.R.I.Z.M before the rest of cryptocurrency. In the basic mechanism of Forzhinga, developers was added a unique, linear-retrograde mechanism of determination of the award for storage of funds, aimed at economic attractiveness and gradual substitution of mass of all existing Financial instruments of the world№№№№№№№№№

  2. Binance is a complete scam, CZ has scammed and extorted many people, CZ is a scammer and criminal, he is releasing new project every month like BitTorrent is the best example, watch chico crypto video on cz

  3. It definitely is the top exchange!
    you should check out Uptrennd man!
    would be great to see your videos on there!

  4. Binance became the big because they offered referral bonus’s. Anyone in the arena knows that. Poloniex, bittrex, cryptopia, bitfinex, never mass marketed anything like that:

    And then you have the Boom which sent a lot of attention to buy Nance because they would limit user registration. Which created more of a buzz and everybody wanted to be a part of it.

    And then the reason financially they became so big is because they take advantage of their users. As seen by their multi billion dollar income. Take any coin that’s mass traded on other exchanges and with drawl. Binance takes a huge portion versus the other competitors. In other words they rape people.

  5. Hi Beau ,
    I'd love to see you deep dive into Elastos. Staggeringly huge vision that uses blockchain as the crucial component to a secure internet infrastructure. Neo and Eth compatability, Merg mined with Btc. Also a fresh look at Cardano as they head towards the Shelley release. Implementation of the first provably secure POS and ultimately deventralization.

  6. Great review Beau. A lot of negative hype about Binance, particularly with an exchange hack but I agree it's an amazing company and I recommended the coin on my channel last year. I think the referral program was their biggest accelerator. Do you think CoinSpot could replicate some of these business moves, particularly launching their own coin for trading pairs on their exchange?

  7. Binance coin is worthless, another S*HIT COIN on its way to 1$

    Zero use case, binance is the biggest pump and dump exchange for S*HIT COINS

  8. Binance is the biggest SCAM dude. Just take a look at "Chico Crypto" channel and you will get an idea. He exposed the s**t out of them.

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