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.
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Cryptocoins News / CryptoNinjas - 1 week ago
Key Takeaways:
BNB Chain boosts transaction speed with validator upgrades to handle memecoin surge.
A $4.4 million initiative supports memecoin liquidity and ecosystem stability.
Enhanced safeguards protect users from malicious attacks on BNB Chain....
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Cryptocoins News / Blockchain - 2 weeks ago
BNB Chain announces the BNB Incubation Alliance event at ETH Denver 2025, fostering collaboration and innovation in blockchain development. The event includes panel discussions, startup pitches, and networking opportunities. (Read More)
Cryptocoins News / Blockchain - 2 weeks ago
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Bitcoin News / Bitcoin.com - 3 weeks ago
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Cryptocoins News / CryptoNinjas - 3 weeks ago
Key Takeaways:
Pascal hard fork is here to implement native smart contract wallets on the BNB Chain, and allows for batch transactions.
This upgrade enhances the user experience via lower fees and greater efficiency.
This hard fork coincides with Et...
Cryptocoins News / Blockchain - 3 weeks ago
BNB Chain introduces a dedicated plugin for the Eliza AI Framework, enabling advanced AI-driven on-chain operations with features like DeFi integration and cross-platform engagement. (Read More)
Cryptocoins News / Blockchain - 3 weeks ago
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Cryptocoins News / Blockchain - 3 weeks ago
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Cryptocoins News / Blockchain - 3 weeks ago
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Cryptocoins News / Blockchain - 3 weeks ago
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Cryptocoins News / Blockchain - 3 weeks ago
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Bitcoin News / Google News Bitcoin - 3 weeks ago
BNB price prediction: Binance Coin crosses $650 as Changpeng Zhao urges traders to buy Bitcoin before Trump& & FXStreet
Cryptocoins News / Blockchain - 3 weeks ago
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Bitcoin News / Google News Bitcoin - 1 month ago
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