In this article, we discuss the 5 best cryptocurrencies Redditors are buying. If you want to read our detailed analysis of these cryptocurrencies, go directly to Forget Bitcoin and Ethereum: 10 Best Cryptocurrencies Redditors are Buying.
5. Binance Coin
Binance Coin is a cryptocurrency that is used by the Binance cryptocurrency exchange platform. It is placed fifth on our list of 10 best cryptocurrencies Redditors are buying. The coin used the Ethereum network when it was launched but has since shifted to a private network used by the exchange. The coin has a maximum limit of 200 million tokens. The coin is mostly used to pay fees on the Binance platform, with the company offering users incentives like rebates and up to five years of membership for dealing in the coin.
The Binance network offers support for traditional payment methods like the one used by PayPal Holdings, Inc. (NASDAQ: PYPL). The American payments firm recently allowed users to checkout with crypto holdings and has since integrated many digital currencies on its network. PayPal Holdings, Inc. (NASDAQ: PYPL) has seen share price fall in recent days as crypto-related stocks tumble.
Out of the hedge funds being tracked by Insider Monkey, London-based investment firm Fundsmith LLP is a leading shareholder in PayPal Holdings, Inc. (NASDAQ: PYPL) with 12 million shares worth more than $2.9 billion.