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 - 1 day ago
Bitcoin cash rose by as much as 5% on Tuesday, as bulls extended recent gains following last week’s consolidation. The token rose for a second consecutive session, moving closer to a resistance level of $225 in the process. BNB also climbed, p...
Cryptocoins News / The Cointelegraph - 1 day ago
According to BNB Smart Chain, MetaMask was averaging recommended fees from multiple networks, causing opBNB recommended fees to be too high. A “glitch” in MetaMask tha...
Cryptocoins News / The Cointelegraph - 1 day ago
The strength in the U.S. Dollar Index could keep Bitcoin and select altcoins under pressure in the near term. Bitcoin’s (BTC) weakness on Sept. 24 shows that the bears...
Cryptocoins News / Blockchain - 2 days ago
BNB Chain and MetaMask have successfully addressed a glitch that led to the display of inflated gas fees for opBNB transactions. The issue was rooted in MetaMask's default algorithm, which set a minimum recommended gas price based on averages across...
Bitcoin News / Google News Bitcoin - 2 days ago
Shock Crypto Leak Reveals Microsoft Could Be About To Blow Up The Price Of Bitcoin, Ethereum, XRP And BNB& & Forbes
Cryptocoins News / The Cointelegraph - 4 days ago
Bitcoin and the major altcoins are down from their weekly highs, but the bulls are trying to form a higher bottom, indicating buying on dips. The Federal Reserve did n...
Cryptocoins News / The Cointelegraph - 6 days ago
Bitcoin and other cryptocurrencies are likely to witness a pick up in volatility following the Fed’s rate decision on Sept. 20. Bitcoin’s (BTC) recovery is facing sell...
Cryptocoins News / CoinJournal - 1 week ago
As investors seek the next big crypto breakthrough, three contenders have emerged: Domini.art, NEAR Protocol,& and& Binance’s $BNB. Each presents a unique value proposition, from bridging the gap between art and finance to revolutionizi...
Cryptocoins News / The Cointelegraph - 1 week ago
Bitcoin and select altcoins are attempting to make a comeback as traders expect the Fed to hold rates steady during its meeting this week. The failure of the bears to...
Bitcoin News / Google News Bitcoin - 1 week ago
‘Mind-Bogglingly Massive’—Crypto Suddenly Braced For A Fed Shock That Could Actually Pump The Price Of Bitcoin Ethereum, BNB And XRP& & Forbes
Cryptocoins News / Blockchain - 1 week ago
BNB Chain has launched a verification tool to help users identify genuine affiliations and potential threats in the Web3 space. The tool aims to prevent fake bridges, deceptive websites, and imposter social media profiles, ensuring user safety. (Read...
Bitcoin News / Bitcoin.com - 1 week ago
Cryptocurrency exchange Binance has been criticized for pledging to help victims of Morocco’s devastating earthquake by airdropping its native crypto token. According to Action on Armed Violence’s Iain Overton, people affected by the ea...
Cryptocoins News / The Cointelegraph - 1 week ago
The recovery in Bitcoin and altcoins is facing selling at higher levels, indicating that the overall sentiment remains negative. Bitcoin has been stuck inside a large...
Bitcoin News / Bitcoin.com - 1 week ago
BNB Chain, the Binance-backed decentralized blockchain network, has announced the launch of Opbnb, its expansion layer built using the Optimism OP stack. The new network allows users to enjoy low-fee transactions in a high-throughput, high-speed tran...
Cryptocoins News / Blockchain - 1 week ago
The opBNB Mainnet, an Ethereum Virtual Machine (EVM)-compatible Layer 2 chain, has gone live on September 13, 2023. Launched on June 19, it has seen over 35 million transactions and connections to 435,972 wallet addresses. The Mainnet offers reduced...
Cryptocoins News / The Cointelegraph - 2 weeks ago
Binance’s Ethereum layer-2 scaling platform, opBNB, is now publicly available, following extensive testing of the OP Stack-based platform. The BNB Chain blockchain eco...
Bitcoin News / Google News Bitcoin - 2 weeks ago
Coinbase CEO Reveals ‘Important’ Bitcoin Update As ‘Unprecedented’ Price Warning Hits Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron And Toncoin& & Forbes
Bitcoin News / Bitcoinist - 2 weeks ago
Following the devastating floods that have left Libya in a state of turmoil, Binance has unveiled a distinctive initiative to extend its assistance.
The crypto exchange has pledged to distribute Binance Coin (BNB) tokens, with a total value of up to...
Cryptocoins News / Finance Magnates - 2 weeks ago
In the wake of a devastating earthquake that rocked
Morocco on September 8, causing casualties in Marrakesh, Binance has pledged
USD $3 million in Binance Coin (BNB) to assist the victims of this disaster.Binance's initiative
involves issuing a serie...