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 Exchanges / Binance - 2 years ago
How much is the tax when i trade 1000BUSD in BNB or BNB is BUSD on PANCAKE and is it always the same when i trade 1000BUSD or 10000BUSD and where can i see tax of tokens Thanks submitted by /u/deklov [link] [comments]
Cryptocoins News / The Cointelegraph โ - 2 years ago
Bitcoin and most major altcoins are attempting a recovery, but they are likely to face strong resistance at higher levels. Bitcoin (BTC) is attempting to extend its re...
Cryptocoins Exchanges / Binance - 2 years ago
I tried unwrapping my wbnb in pancakeswap and it has been stuck in pending for the last 10 days. It says I cant cancel because I have insufficient funds (I have $24 in BNB for transactions). Won't even let me trade other coins on pancake or other...
Cryptocoins Exchanges / Binance - 2 years ago
I want to send $5 in XLM to somebody and have them send $4 in BNB smart chain to my trust wallet. Just want to make sure if sending small amounts of BNB is possible (or if the transfer fees will eat it up) before trying to find somebody that can assi...
Cryptocoins Exchanges / Binance - 2 years ago
Binance Coin 1-day AltRankโข is down -24.24% to 50 with price down -0.4163% to $567.10 https://lnr.app/s/Wqky7a submitted by /u/dalight02 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I wanna be a validator with 4 bnb s but i dont have enough information where can I learn this sysyem submitted by /u/bbora69 [link] [comments]
by COINS NEWS - 2 years ago
Binance is absolutely lacking right now. The app sucks. Withdraws for cash are an absolute nightmare. Thereโs no plus in utilizing their system and security wise nothing pops out. I wonโt even go about Coinbase lmao. Meanwhile Crypto.com is becoming...
Cryptocoins Exchanges / Binance - 2 years ago
I found the recent hard fork upgrade really interesting and there doesn't seem a lot of chat about this on here. The hard fork has brought in a change that will see 10% of the BNB gas fee being destroyed. This is quite big news long-term for dec...
Cryptocoins Exchanges / Binance - 2 years ago
Is it cheaper to buy BNB with BUSD on spot trading? Or can I use BUSD to BNB swap on binance.com? Heard the swap is expensive but I seem to be getting the BUSD value in BNB out of it. submitted by /u/MadDogBTTF [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Hey everyone, I've exhausted all avenues in trying to figure out how to move my CAKE from KuCoin back to my wallet without figuring out HOW to pay the $1 gas fee with BNB. I can't buy BNB without BNB apparently. I've watched videos in att...
Cryptocoins News / The Cointelegraph โ - 2 years ago
Itโs clear that bears have nearly extinguished all signs of bullish momentum after BTC price falls below $52,000 and altcoins take a severe belting. Bitcoin (BTC) and...
Cryptocoins Exchanges / Binance - 2 years ago
Anyone know if rpc is having issues? Sent BNB on BEP20 chain to my MM, MM showing nothing in the account, but looking at the wallet in explorer shows the wallet has the bnb i sent. Never had an issue like this. Is this network problems? submit...
Cryptocoins Exchanges / Binance - 2 years ago
Tried sending BNB to my metamask using BSC network and i keep getting failed withdrawal from my binance.us account. submitted by /u/brandobot89 [link] [comments]
Cryptocoins News / CoinJournal - 2 years ago
BNB is inches closer to its previous ATH.&
BNB/USDT chart shows an upward climb.&
Based on daily trading volume, Binance is the largest cryptocurrency exchange at the moment. It was established by Changpeng Zhao, the chief executive o...
Cryptocoins News / NewsBTC - 2 years ago
While cryptocurrency has attracted a significant following in the subsequent years, it continues to grow after hitting a record-breaking all-time high. Bitcoin, the most popular cryptocurrency, is valued at nearly $67,000. (Source:ย Forbes)
Thus, more...
Cryptocoins Exchanges / Binance - 2 years ago
I need reviews from verified usa or canada or uk or other tier one countries like Australia etc amazon prime accounts. Product is a free kids movie. All I need is you to let the movie play and then take a screenshot of your 5 star review and the revi...
Cryptocoins Exchanges / Binance - 2 years ago
do you know any site to buy bnb with card without kyc? submitted by /u/EpicMario71 [link] [comments]