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 / Google News Bitcoin - 1 year ago
‘Year Of Opportunity’—Fed Chair Suddenly Sets Crypto Markets Alight After $250 Billion Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Surge& & Forbes
Bitcoin News / Bitcoinist - 1 year ago
The crypto industry has been trying to increase the safety of most crypto assets and protocols using modern technological approaches. However, issues of exploits in the industry are becoming more rampant than before. The bad actors explore diverse me...
Cryptocoins News / The Cointelegraph - 1 year ago
According to Binance CEO ‘CZ’, Binance is working on more efforts to help The devastating earthquake that hit Turkey on Feb 6 has left a trail of destruction in its...
Cryptocoins News / Blockchain - 1 year ago
Despite the bad market, Messari researchers found that BNB Chain fundamentals and on-chain activities improved in Q4 2022. (Read More)
Cryptocoins News / The Cointelegraph - 1 year ago
Security firm PeckShield reported that the hacker successfully drained roughly 551 BNB off CoW Swap into Tornado Cash, which was worth around $181,600 at the time of writing....
Cryptocoins Exchanges / Binance - 1 year ago
Hey, I've a bit previous BNB as a ERC token on Ethereum and needed to convert it to either BNB or or into ETH or simply something I can transfer or swap, anybody have an concept of how to try this? A swap service or inside metamask or something? Than...
Cryptocoins News / The Cointelegraph - 1 year ago
The U.S. dollar’s rise has put brakes on Bitcoin’s price recovery, but lower levels are likely to attract buyers for BTC and altcoins such as Dogecoin. The United Stat...
Bitcoin News / Google News Bitcoin - 1 year ago
Crypto Now Braced For ‘Incredible’ Shock Wake-Up Call After $250 Billion Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Surge& & Forbes
Cryptocoins News / The Cointelegraph - 1 year ago
Average daily addresses on the Binance blockchain network grew by 30% year-on-year in Q4. The Binance-native blockchain BNB Chain continued to show steady activity gr...
Cryptocoins News / The Cointelegraph - 1 year ago
The venture firm used its 15 million UNI holding to vote against the deployment using the Wormhole bridge. Venture capital firm Andreessen Horowitz (a16z) voted agains...
Cryptocoins News / The Cointelegraph - 1 year ago
Strong U.S. jobs data for January could not pull Bitcoin and select altcoins lower, indicating a strong bullish undercurrent. Bitcoin’s (BTC) rally in 2023 has been b...
Cryptocoins Exchanges / Binance - 1 year ago
The answer ought to help retailer consumer knowledge, blockchain knowledge from numerous networks and software knowledge. submitted by /u/magic_rank [link] [comments]
Cryptocoins News / The Cointelegraph - 1 year ago
Crypto traders are waiting for the result of today’s FOMC and it’s possible that the recent downside could reverse course if Jerome Powell’s statements hint at an improving U.S. economy....
Cryptocoins News / CoinJournal - 1 year ago
BNB Chain announced the release of the Greenfield whitepaper on Wednesday, 1 February 2023.
The new blockchain will provide the infrastructure for a decentralised data economy, powered by BNB.
Developers are working on a testnet expected over the ne...
Cryptocoins News / The Cointelegraph - 1 year ago
The testnet of the proposed Web3 infrastructure — built by the BNB Chain core team — is supported by community developer teams from Amazon Web Services, NodeReal and Blockdaemon....
Cryptocoins News / EthereumWorldNews - 1 year ago
Crypto bridge Wormhole has won the governance vote to become Uniswap’s designated bridge to BNB Chain. Wormhole beat fellow bridges Layerzero and deBridge to become the DEX’s bridge provider. Community members aim to use BNB Chain’s strong governanc...
Cryptocoins Exchanges / Binance - 1 year ago
A small amount of btc was convert to bnb however I didn’t make commerce and I can’t see evidence of a trade happening. Anybody know what occurred ? submitted by /u/FR3SH_ST4RT [link] [comments]
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin and altcoins started the week in the red, but if this week’s Federal Reserve meeting aligns with investors’ general expectations, the wider crypto market could quickly rebound....
Cryptocoins Exchanges / Binance - 1 year ago
Is becoming a member of the Metaverse the fitting transfer? What development do individuals predict 2023 would be the next? Is it the metaverse? I feel if Binance needs to get into the Metaverse then it may be the subsequent development. At present,...
Cryptocoins Exchanges / Binance - 1 year ago
In accordance with the announcement of BNB Chain, this blockchain has just completed the primary quarterly BNB burn of 2023. Particularly, more than 2 million BNB (about 575 million USD) have been burned this time. Accordingly, the burning cons...
Bitcoin News / Google News Bitcoin - 1 year ago
‘Grave Mistake’—Joe Biden Reveals Game-Changing Crypto ‘Roadmap’ After $2 Trillion Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Crash& & Forbes