BNB
Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name "Binance" is a combination of binary and finance.
Thus, the startup name shows that only cryptocurrencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing.
In total, there will only be 200 million BNBs. Binance uses the ERC20 token standard from Ethereum and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees and others. Binance gives you a huge discount when fees are paid in BNB.
The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount. This structure is used to incentivize users to buy BNB and do trades within Binance.
Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018. The coins are then burned. This means that they are devaluated to increase the value of the remaining coins. This benefits investors. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas.
Other tokens that are issued by exchanges include Bibox Token, OKB, Huobi Token, and more.
Cryptocoins News / The Cointelegraph β - 1 day ago
Bitcoin and select altcoins are close to breaking out of their overhead resistance levels, indicating that bulls remain in control of the crypto market. Bitcoin (BTC)...
by COINS NEWS - 1 day ago
Hi there! So I have around 100 moons just sitting around, and was wondering what the best way to convert them into a major crypto coin is? I read some posts from awhile ago that I found while googling, but I am unsure if those are still the best meth...
Cryptocoins News / The Cointelegraph β - 2 days ago
Recent BNB price trends show that the token declines in the short term after regulatory crackdowns. However, this time the correction may last longer. BNB (BNB) looks...
Cryptocoins News / The Cointelegraph β - 2 days ago
Recent BNB price trends show that the token is declining in the short term after regulatory crackdowns. However, this time, the correction may last longer. BNB (BNB) l...
Cryptocoins News / CoinJournal - 2 days ago
Key Takeaways
Alex Kim is the Business Development Manager for BNB Chain, and he joins the CoinJournal podcast
He chats about the bear market, an interoperable future, the ease of building on BNB Chain, gas fees, decentralisation and more
The dark s...
Cryptocoins News / CoinJournal - 2 days ago
CFTC sues Binance for trading violations&
BNBUSD bearish bias persists
$200 is a major support area
The cryptocurrency market is hit with another scandal as news that CFTC (Commodity Futures Trading Commission) is suing Binance for trading vio...
Cryptocoins News / The Cointelegraph β - 3 days ago
The crypto market corrected on news of the CFTC suing Binance and its CEO, Changpeng Zhao, but technical charts reveal a silver lining. The news and events related to...
Bitcoin News / Google News Bitcoin - 4 days ago
$1 Million Or $100,000? Inflation Risk Spurs Wild 2023 Crypto Price Predictions As Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Surge& & Forbes
Cryptocoins News / The Cointelegraph β - 6 days ago
Bitcoin and altcoins could see profit-taking and risk-off positioning as the weekend approaches and investor concerns about Deutsche Bank arise. European stock markets...
Cryptocoins News / CoinJournal - 1 week ago
BNB Chain is the world’s largest smart contract blockchain in terms of daily active users.
It is conducting an online Bootcamp-Hackathon-Incubator program running for six months.
The blockchain has launched the second phase of the program
BNB...
Cryptocoins News / The Cointelegraph β - 1 week ago
Technical charts are beginning to suggest that BTC is at the end of its bear market cycle, and traders believe this could yield positive results for most altcoins. Bit...
Cryptocoins News / The Cointelegraph β - 1 week ago
Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system struggles with unprecedented volatility. The takeo...
Bitcoin News / Google News Bitcoin - 1 week ago
Goldman Sachs Bets Bitcoin And Crypto Are Braced For An Epic Fed U-Turn After $200 Billion Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Boom& & Forbes
Bitcoin News / Google News Bitcoin - 1 week ago
Bank Apocalypse: Bitcoin And Crypto Now Braced For An Epic Fed U-Turn After $200 Billion Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Boom& & Forbes
Cryptocoins News / The Cointelegraph β - 1 week ago
Bitcoin has risen above $25,000, and if bulls flip this level into support during the next pullback, it will signal the start of a new up-move to $32,000. After a reco...
Bitcoin News / Bitcoinist - 2 weeks ago
Following the issuance of a Wells Notice from the Securities and Exchange Commission (SEC) to Binance USD (BUSD) issuer Paxos, the stablecoin has taken a hit in the market. Its market cap plunged rapidly as the firm was ordered to stop issuing new to...
Cryptocoins News / Blockchain - 2 weeks ago
Uniswap goes live on BNB Chain following a governance proposal, aiming for user growth, lower fees, and new market access. (Read More)
Cryptocoins News / The Cointelegraph β - 2 weeks ago
Credit Suisse has pulled the U.S. equities markets lower, but a positive sign is that Bitcoin and select altcoins are holding near their local highs. The United States...
Cryptocoins News / The Cointelegraph β - 2 weeks ago
After receiving the support of a significant majority of voters in February, Uniswap v3 is now operational on BNB Chain. Decentralized exchange Uniswap is officially l...