Bella Protocol (BEL), launched in September 2020, is a blockchain project that aims to bring innovations to the DeFi space. “What is Bella Protocol, what service does it offer, how to buy BEL coin, what are its advantages and disadvantages?” You can find answers to such questions in this article. As Kriptokoin.com, we have compiled it for you.
What is Bella Protocol? What service does it offer?
Bella Protocol is a platform designed to make crypto banking simpler and more accessible. The blockchain project offers a suite of DeFi products to achieve this goal. The native cryptocurrency of the DeFi protocol is BEL.
The protocol aims to create a better user experience by eliminating the problems of blockchains that perform slow transactions with high transaction fees. It also strives to improve the user experience through the simplified DeFi smart portal. Bella’s smart pool feature allows users to transact with almost zero gas fees.
So users can have access to the best returns in the DeFi market. The protocol is the first project launched on Binance’s Launchpool platform. Launched in September 2020, the project was created by ARPA’s team, a layer 2 solution focused on privacy. The project has managed to receive investment from several leading firms, including Arrington XRP Capital and Ledger Capital.
What is BEL coin? What is it used for?
BEL works as Bella Protocol’s native cryptocurrency. Token is an important component of the ecosystem. BEL coin serves as a reward token that allows cryptocurrency holders to participate in the management of the platform. BEL can be used to collect fee rewards in the ecosystem. Besides, BEL can also be used to get special discounts on services of the Bella protocol and benefit from staking rewards.
What are the advantages?
BEL coin holders can vote on decisions that determine the future of the platform, using their tokens. Thus, the project is managed in a decentralized manner. BEL coin has a stakeable structure. This means that users can earn passive income by staking their tokens.
What are the disadvantages?
Bella Protocol has a small-medium market cap. Therefore, it is more likely to be affected by market manipulations. Similar to other cryptocurrencies, BEL coin has a very high volatility. High volatility means that the value of a coin fluctuates over a wider range, both in the bullish and bearish directions.
How to get Bella Protocol (BEL)?
Users wishing to purchase Bella Protocol’s governance token BEL must be a member of a crypto exchange where the token is listed. Currently, exchanges like Binance, Gate.io, Bithumb, Uniswap (V2), Sushiswap are listing BEL coin. BEL can be purchased by subscribing to these exchanges and uploading money.
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