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.
Bitcoin News / Bitcoin.com - 16 hours ago
BNB Chain, one of the largest smart contracts-enabled ecosystems in the crypto environment, has announced the inclusion of native liquid staking in its BSC blockchain. The new feature aims to allow validators to secure the network and maintain the li...
Cryptocoins News / Blockchain - 1 day ago
Binance has launched the BounceBit (BB) Megadrop, inviting cryptocurrency enthusiasts to participate by subscribing to BNB Locked Products or completing Web3 Quests. The BB token will be listed on Binance on May 13, 2024, offering various trading pai...
Cryptocoins News / Blockchain - 2 days ago
Binance, one of the leading cryptocurrency exchanges, has announced its plan to gradually cease support for deposits on the BNB Beacon Chain (BEP2). The sunset of the BNB Beacon Chain is expected to be completed by June 2024. Binance will no longer p...
Bitcoin News / Google News Bitcoin - 1 week ago
Israel-Iran War Fears Suddenly Spark $500 Billion Bitcoin And Crypto Price CrashβHitting Ethereum, BNB, XRP ...& & Forbes
Cryptocoins News / CoinJournal - 2 weeks ago
Growing demand for Solana meme coins could boost its performance.
BNB could return to $600 amid an expected network activity increase.
NuggetRush (NUGX) will let users stake gaming NFTs in its artisanal mining landscape.
Solana’s (SOL) networ...
by COINS NEWS - 2 weeks ago
This is driving me up the wall. Trustwallet support seems useless and it appears to be the only way to manage staking on BNB these days since the binance staking site only supports trust wallet now. Originally I staked using the BNB Chain Walle...
Cryptocoins News / Blockchain - 3 weeks ago
Binance supports network upgrades and hard forks of BNB Beacon Chain and BNB Smart Chain, with maintenance scheduled for April 15, 18, and temporarily suspending deposits and withdrawals. (Read More)
Cryptocoins News / Blockchain - 3 weeks ago
BNB Chain's new "Meme Innovation Campaign" aims to invigorate the meme token sector by offering $1 million in rewards for developer projects until May 9. (Read More)
Cryptocoins News / CoinJournal - 1 month ago
TLDR:
Polygon’s Libre, a tokenization protocol backed by several big institutional players, has gone live.
Kaleo has predicted that the price of Binance Coin could surge to a new all-time high in the coming weeks.&
NuggetRush is a ne...
by COINS NEWS - 1 month ago
I have a BNB token in my MetaMask I plan on selling on pancake swap DEX. I believe I will receive BNB UDST. I want to off ramp to my bank using my coinbase account but coinbase doesn't support BNB. What is the safest and cheapest way for a USA u...
Cryptocoins News / Blockchain - 1 month ago
Binance has announced the sunset of the BNB Beacon Chain (BEP2) network, advising a move to the BEP20 network by June 2024. (Read More)
Cryptocoins News / CoinJournal - 1 month ago
Following a new update from Binance, experts forecast that Binance Coin (BNB) will rise to $750.58.
As talks about the Ethereum Exchange-Traded Funds (ETFs) continue, experts foresee Ethereum (ETH) will rise to $4,884.99 by the end of April.
More of...
Cryptocoins News / Blockchain - 1 month ago
Binance, one of the leading cryptocurrency exchanges, has announced a new promotion that allows users to earn rewards by subscribing to SOL or BNB Locked Products, or staking ETH. Participants have the chance to share a portion of 140,000 PIXEL in ai...
Bitcoin News / Bitcoin.com - 1 month ago
Based on the latest metrics, the cryptocurrency landscape has experienced a widespread but modest downturn. Yet, the digital asset solana has risen by 12.2% in the last 24 hours and 43% against the U.S. dollar over the past week. Currently, solana su...
Bitcoin News / Google News Bitcoin - 1 month ago
Despite Broad Crypto Downturn, Solana Hits $200 Range and Overtakes BNB β Markets and Prices Bitcoin News& & Bitcoin Nachrichten
Bitcoin News / Google News Bitcoin - 1 month ago
Despite Broad Crypto Downturn, Solana Hits $200 Range and Overtakes BNB β Markets and Prices Bitcoin News& & Bitcoin.com News
Bitcoin News / Google News Bitcoin - 1 month ago
Why Isn't Ethereum Going to $5000? Bitcoin's (BTC) $80000 Attempt, Binance Coin's (BNB) Silent 40% Pump& & TradingView
Bitcoin News / Bitcoin.com - 1 month ago
On Thursday, the team behind BNB Chain introduced a novel Rollup-as-a-Service (RaaS) offering for the development of layer two blockchains (L2s) atop the BNB Chain. The team detailed that the service equips sizable decentralized applications (dapps),...
Cryptocoins News / Blockchain - 1 month ago
BNB Smart Chain introduces BEP 336 upgrade, inspired by Ethereum's EIP 4844, to optimize data storage and reduce transaction costs, preparing for a network performance boost. (Read More)
Cryptocoins News / Blockchain - 1 month ago
Binance is set to remove a select number of trading pairs from its platform on March 15, 2024, citing low liquidity and volume as the primary reasons. (Read More)