- How can investing in BSC projects generate revenue?
- Which projects are best to invest in?
- How will you find out the best BSC projects to earn profit?
One of the most popular blockchains in the cryptocurrency space is Binance Smart Chain. Binance runs it, which is one of the largest crypto exchanges in the world. Creating an ecosystem with some of the biggest cryptocurrencies has proved remarkably successful due to its fees almost always being lower than the Ethereum (ETH) network.
After Ethereum failed to convince those who couldn’t afford these coins was a viable alternative, it gained popularity. If you are also interested in finding the best BSC coins to invest in 2022, this article will help you.
Best Binance Smart Chain projects to watch right now
BSC hosts Dogecoin (DOGE), the self-proclaimed king of meme coins and the leading introduction to crypto for millions. Below, five cryptocurrencies rank among the top five on BSC.
How much would you earn if you invested in such projects one year ago?
Although there have been some early setbacks this January, cryptocurrency experts believe 2022 will be as remarkable as 2021. Many experts are excited about some of the cryptocurrencies operating on the BSC: PancakeSwap, Gala, and the Seesaw Protocol.
With more than $12 billion in assets held in its most successful DeFi protocols, It has secured its place as the third most popular DeFi ecosystem in the market.
More than 1.5 million holders of blockchain tokens exist across the BSC and Ethereum ecosystems, and the ticket can be used to pay for transaction fees on Binance Smart Chain, to make in-store purchases, etc. Compared to other cryptocurrencies, Binance Coin saw record profits in 2021, earning holders a staggering 1,280% profit.
Binance Coin (BNB)
BNB token was introduced in 2017. As an initial release, BNB supported ERC-20 and ran on Ethereum. When the BNB token appeared, there were 200 million available, and 100 million tickets were offered as part of the ICO. The BNB token’s main advantage is that it allows users to participate in token pre-sales and trade on Binance’s major exchange.
BNB complements Binance’s decentralized exchange. A key element of BSC is to ensure compatibility across chains and enable users to get the most out of BNB Chain. Through Ethereum Virtual Machine, smart contracts are also compatible and capable of being formally executed.
Why does it have the potential to grow?
Binance uses 1/5th of its profits to buy back and burn BNB coins in the treasury. BNB has spread rapidly across various applications in a short period. For example, you can use a BNB token to pay for transaction fees, online services, financial services, entertainment, and travel bookings, among others.
PancakeSwap (CAKE)
There would not be a complete list of BSC projects without mentioning PancakeSwap.
Its whimsical name doesn’t disguise PancakeSwap’s popularity as the most popular App on BSC. In addition to the decentralized exchange, yield farms, prediction markets, the NFT marketplace, and numerous other DeFi applications are available.
PancakeSwap’s trading volume consistently exceeds half a billion dollars per day, making it one of the most successful DEXes on Binance Smart Chain in terms of volume.
Why does it have the potential to grow?
PancakeSwap has attracted over four million monthly users in less than a year and has become one of the most successful projects currently running on BSC.
Since it is one of the primary reward tokens for PancakeSwap’s yield farms, the native asset, called CAKE, has many uses but suffers from high inflation.
DYP Crypto (DYP)
In partnership with Ethereum and other blockchains, DeFi Yield Protocol (DYP) offers pools on Ethereum. DYP offers buybacks, farming, and stake pools. The platform provides investors with different yield farming options.
DYP has already demonstrated to be a promising model for decentralized finance, according to their recent report. With DYP, DeFi platforms and users will benefit from a DeFi network. Investors can take advantage of four different pools for staking. This crypto is an excellent option.
Why does it have the potential to grow?
DYP’s team decided to extend their ecosystem to BSC to increase the value of their token and the earning opportunities for their users. Additionally, the launch of the BSC-based version reduces the community’s costs due to the rapidly increasing gas fees on Ethereum.
Taking the project to BSC now opens up more possibilities for future developments planned for the project.
Cardano (ADA)
The Cardano blockchain project is way ahead of its time, with a stake of over 70 percent of its currency, ADA, staked for network validation. One of the reasons there is so much ADA stake is that the blockchain doesn’t offer decentralized applications (dApps). Approximately 5% of Ethereum’s supply is locked as validators, while more are locked in DeFi applications.
Cardano’s stake is already evident, and a strong development team is backing its future development. However, it is essential to get the project right the first time, whereas, with Ethereum, it is more important to develop the ecosystem through trial and error.
Why does it have the potential to grow?
Payments are much more affordable with Cardano due to its separation of settlement and computation layers.
Baby Doge (BABYDOGE)
It is the spin-off of Dogecoin, the meme currency. Baby Doge, a cryptocurrency that was not well-known two weeks ago, is now trending on Twitter because of Elon Musk. This trend has gained momentum, with the Shiba Inu dog symbol being used on Dogecoin tokens and Shiba Inu being its cryptocurrency and Baby Doge also employing the emblem.
Why does it have the potential to grow?
Baby Doge seems like a good candidate after all the hype. It’s one of the cryptocurrencies that charges a transaction fee to incentivize investments. You will be charged a 10% fee whenever you trade Baby DogeCoin. In total, 5% of the Baby Doge fund is redistributed proportionately to every Baby Doge investor, and 5% is split between Binance Coin and PancakeSwap for liquidity pooling purposes. So, in essence, if you sell Baby Doge, you lose 10%, but if you hold it, you get rewarded.
Final thoughts
Users who want a low-cost, speedy blockchain platform couldn’t ask for a better solution than the Binance Smart Chain. As a result, BSC set a new record for unique active wallet users in 2020.
Ethereum has become more congested despite being the most famous platform for intelligent contracts. However, if Ethereum maintains a similar fee structure and transaction speed, a chain-like BSC will become more popular.