Find out if Coinbase, one of the most popular cryptocurrency exchanges, accepts BEP-20 tokens. Learn about the benefits of BEP-20 and how to trade it on Coinbase.
As the world of cryptocurrencies continues to expand, more and more tokens are being created. One such token is the BEP-20 token, which is based on the Binance Smart Chain (BSC). Coinbase, one of the largest and most popular cryptocurrency exchanges, is known for supporting a wide range of tokens. But does Coinbase accept BEP-20 tokens? In this article, we will explore this question and provide you with all the information you need to know.
Acquisition and Trading
Trading the financial market is one that has brought so many to achieving their dreams of becoming successful in life.However, it is not as simple as it may seem to be. The financial market is one that is very tricky and can as well lead so many to becoming poorer than they were without the proper knowledge of how its functions. It is a largely broad and volatile market that needs to be studied before making an entry or executing a trading.
The financial market encompasses trading of just currency pairs and news… It is way beyond your nation’s economic system, hence deals with other foreign national economies, currency, financial policies, and banking ministries as well.
Over the years we have seen organizations that go into bankruptcy and have no other option than to be sold or either merged with another organization that is financially capable of buying it off. This is a system that is often seen in the world of finance and trading.
Acquisition of commodities, companies, etc. is a vital aspect of trading. Shares, bonds, and stocks are the common trades that have been traded.We can see the revolution of technology coming into play by the introduction of the blockchain tech and cryptocurrency, NFts, and metaverse lands are now sold and bought as digital assets on crypto exchanges.
Not completely ignoring the era of gold, silver, diamonds, crude oil, etc. that are now tradeable through foreign exchanges (Forex).
Comparison of different options for cashing out BEP-20 tokens
Bep20 tokens can be cashed out through selling directly off to the bank or using the p2p methods. Here we shall compare the different options.
Bank cashing out option. It is an easy and simple method of selling your BEP20 token directly to your bank, as it requires no middleman for this system of transaction, It is safe by 95% percent. Unlike the p2p method where you rely on a third party to send you the value of your Bep20 token in fiat depending on the market exchange rate.
P2P cashing out option. It is a widely used system by many traders. This is because they are avoiding banking charges and as such want the complete value of their Bep20 token in fiat rather than selling directly to their banks and getting charged for the transactions. What these sets of traders do not understand is the risk on this method is x5 higher than the bank option. Imagine not receiving cash from the p2p vendor after you must have sent your crypto to him/her, Imagine being charged x2 of what your bank charges are. It is a highly risky 50/50% rating,the bank system is the best.
Benefits of BEP-20
The benefits of transacting or trading the Bep20 tokens are as listed below.
- You will have a cheap gas fee rate for all of your transactions on the BSC blockchain.
- For developers you can develop decentralized applications such as, Dexs, borrowing and lending protocols, Defi aggregators, wallets etc.
- As one who uses the BSC chain you will enjoy fast speed block-time transactions.
- Bep20 tokens are very much secured.
- Great transparency of the blockchain.
How to trade BEP-20 on Coinbase
The Bep20 token (BSC) chain is not supported on the coinbase exchange, nevertheless there are ways to move your Bep20 token to Coinbase. You can trade Bep20 tokens on coinbase by either buying directly on the coinbase exchange then trade or you trade through a decentralized exchange as there is no sure direct means of trading Bep20 tokens on coinbase. You might as well find this link helpful: How To Transfer Cryptocurrency From Binance To Coinbase.
About RoboFi
Robofi is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
About VICS
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
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I'm Carina, a passionate crypto trader, analyst, and enthusiast. With years of experience in the thrilling world of cryptocurrency, I have dedicated my time to understanding the complexities and trends of this ever-evolving industry.
Through my expertise, I strive to empower individuals with the knowledge and tools they need to navigate the exciting realm of digital assets. Whether you're a seasoned investor or a curious beginner, I'm here to share valuable insights, practical tips, and comprehensive analyses to help you make informed decisions in the crypto space.
