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 / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins are close to breaking below critical support levels and tradersβ reluctance to buy in the current range could exacerbate the sell-off....
Cryptocoins Exchanges / Binance - 2 years ago
I like BNB more than ETH, Because cheaper gas fees when buying other coins on Pancake. Do you think BNB is as safe of a long term hold as ETH or even better? How much BNB should you own? I see ETH as Apple, and BNB as Android. submitted by ...
Cryptocoins Exchanges / Binance - 2 years ago
Newbie here! Thank you so much in advance for any support replies. I just transferred polygon assets MATIC and WMATIC to my BNB. But instead of arriving in my Smart BNB it has added BNB as an asset on Polygon. Clearly I have done something wrong. Wha...
Cryptocoins News / The Cointelegraph β - 2 years ago
Sell pressure on BTC and altcoins is beginning to alleviate, but data suggests that itβs too early to call for a reversal. Bitcoin (BTC) and select altcoins are showi...
Cryptocoins Exchanges / Binance - 2 years ago
The largest crypto exchange by far is Binance. Despite some regulatory hiccups in the past, the cryptocurrency exchange platform was trending in the news following its developments. Here was the most significant trend. In December 2021, the developme...
Cryptocoins Exchanges / Binance - 2 years ago
Hey dear Crypto enthusiasts, I made a decent profit with one BSC token and got 10bnb to invest! I am looking either to put it into one or also maybe split it along more projects depending on the best shills and arguments. For those who know me, they...
Cryptocoins Exchanges / Binance - 2 years ago
Hey I was wondering if there any BNB faucet that works ? i have some CMC airdrops that requires gas fee of 20 cents or so and some other small cryptos that i would like to withdraw submitted by /u/AutomaticBasket8 [link] [commen...
Cryptocoins Exchanges / Binance - 2 years ago
I found it difficult to stake my BNB as a cryptocurrency beginner who uses Binance.us, which doesn't support BNB staking. After figuring it out, I created this straightforward tutorial on how to stake BNB from a hardware wallet (i.e. Ledger). Hop...
Cryptocoins Exchanges / Binance - 2 years ago
Long story short I accidently transferred all my ETH to a BSC Net wallet and I can't get it back without BNB for gas. I bought some on Binance but it wont be available for withdraw for the next 10 days. I need BNB before the 20th so I can free up...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins took a turn for the worse after BTC price dipped below $42,000. Bitcoinβs (BTC) volatility has been shrinking in the past few days. T...
Cryptocoins Exchanges / Binance - 2 years ago
source: https://www.binance.com/en/support/announcement/850e3e4a49094b798f4b96a9cc1884e8 submitted by /u/Amzn4tw [link] [comments]
by COINS NEWS - 2 years ago
Index Part 1: BTC Part 2: ETH Part 3: BNB - Binance Chain BNB: Binance Chain & Binance Smart Chain BNB "Binance Coin" is the native token of two separate blockchains, both the Binance Chain and the Binance Smart Chain. It can be nativ...
Cryptocoins Exchanges / Binance - 2 years ago
We have encountered a problem that when a bnb is sent to a address these bnb in a next transaction after 2 consecutive blocks it is sent to another address which is probably stealing from people in some unknown way.The wallet on which these str...
Cryptocoins Exchanges / Binance - 2 years ago
bnb1y5z69rys8uyxs2r3r8j749zrxsk6gcgc98g2dt this address stole my money what can i do? submitted by /u/AdmirableWeather9599 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Octafarm.io = The Easiest Gateway to Automated DeFi Yield Farming. https://preview.redd.it/fq2u7jxwj0c81.png?width=1976&format=png&auto=webp&s=73fc3ef0741cbe9953e2941133a67c71938252ad Octafarm is an auto-compounding yield a...