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 / Blockchain - 1 month ago
BNB Chain announces the Airdrop Alliance Program to incentivize and engage its user base, with details of upcoming partnerships to follow. (Read More)
Cryptocoins News / Blockchain - 1 month ago
Binance announces the upcoming launch of Ether.fi (ETHFI) on its Launchpool platform, allowing users to farm ETHFI tokens by staking BNB and FDUSD. The decentralized staking protocol will be the 49th project featured on Binance Launchpool. (Read More...
by COINS NEWS - 1 month ago
Caption. Just had a huge moment of nostalgia thinking back to 4 years ago and how fast the time has gone. Just realized that pancake swap is not cool anymore and new projects are not launching on the binance chain. Finally exited my worst investment...
by COINS NEWS - 1 month ago
I had 0.1 ETH on the BNB Smart Chain network in a Metamask Wallet. Do not ask me how I got it there, I don't remember. I've been searching everywhere for some sort of bridge to get this bullshit back onto the Ethereum network to no avail as I...
Cryptocoins News / Blockchain - 1 month ago
Binance introduces BNB/JPY, BTC/JPY, and ETH/JPY trading pairs and launches a zero-fee promotion for all JPY spot trading pairs from March 12 to April 11, 2024, to enhance user experience and expand its offerings. (Read More)
Cryptocoins News / Blockchain - 1 month ago
BNB Chain unveils Phase 2 of its TVL Incentive Program, offering a prize pool of up to $160K for BSC projects to boost ecosystem growth. (Read More)
Cryptocoins News / Blockchain - 1 month ago
The BNB Greenfield network is preparing for the Ural hardfork, which aims to enhance user experience and Storage Provider performance within the BNB Chain ecosystem. (Read More)
by COINS NEWS - 1 month ago
So I hold Superverse on bnb and went to sell it but for every coin Iβm only getting $0.25 usd each even tho every chart says itβs worth way more. Iβve researched and I cannot find any way to swap it back to the actual price. I keep finding routes th...
Cryptocoins News / Blockchain - 1 month ago
Binance to discontinue five spot trading pairs, including ALPINE/EUR, as part of its market quality management. (Read More)
by COINS NEWS - 1 month ago
Offering a BNB token if anyone can please help me recover my BNB that is (or supposedly being staked). Are these gone forever? I used the nano ledger X and BNB chain site (i think it was a .org site - that is no longer working). To find it, I would...
Bitcoin News / Bitcoin.com - 2 months ago
GAIMIN, the world’s leading provider of DePIN (Decentralised Physical Infrastructure Networks) today announces the world’s first L2 blockchain focused on delivering Web3 technology and services to the gaming industry. The incorporation...
Cryptocoins News / Blockchain - 2 months ago
Binance Launchpool's 47th project, Portal (PORTAL), has reportedly attracted over $400 million in BNB transfers in the past 24 hours, with the largest whale sending over $40 million. (Read More)
Bitcoin News / Bitcoin.com - 2 months ago
On Feb. 22, 2024, the primary development group of the BNB Chain revealed that the decentralized finance (defi) money market protocol, Aave, has been successfully launched on the BNB network. Boasting a total value locked (TVL) of $8.571 billion, Aav...
Cryptocoins News / CoinJournal - 2 months ago
BNB price surges 2% in 24 hours days, driven by Binance’s burn announcement.
AltSignals empowers traders with ASI token staking, offering up to 25% rewards.
Over 96% of ASI token supply staked, highlighting widespread adoption and confidence....
Cryptocoins News / Blockchain - 2 months ago
Binance Launchpool has added cross-chain gaming startup Portal for a new farming event. Users can earn PORTAL tokens by staking BNB and FDUSD over 7 days starting February 22nd. PORTAL will then list on Binance against major trading pairs. (Read More...
Cryptocoins News / CoinJournal - 2 months ago
As February unfolds, it has been an exciting ride with an endless stream of surprises, from GoDaddy’s integration with ENS to Manta Network’s (MANTA) integration with BNB Chain. On February 15, the blockchain project Manta Network announc...
Bitcoin News / Google News Bitcoin - 2 months ago
Vanguard Left Bitcoin ETF Inflows in the Dust, Nearly $1 Billion in BTC Vanishes After Transfer From Coinbase, Binance to Delist Six BTC, ETH and BNB Trading Pairs: Crypto News Digest by U.Today& & U.Today
Cryptocoins News / CoinJournal - 2 months ago
Solana has become the 4th largest cryptocurrency, surpassing Binance’s market cap, driven by bullish momentum and on-chain activity.
NuggetRush has seen remarkable presale success, offering a gaming experience with NFT integration and passive...
by COINS NEWS - 2 months ago
I have 125 USDC (BNB Chain) and want to sell it, how do I deposit it to binance? I tried coinbase but they only offer ERC-20 network which isnt compatible. When I use binance to deposit USDC, which network is the correct one? BSC? The goal is to just...