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
Is there a BSC faucet anywhere? I need .00053 more BSC to make a transaction and Iβm not really trying to load up on more BSC BnB. Anybody able to point me in the direction of a faucet? Thanks! submitted by /u/Mr-Mehhh [link] [c...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin continues to encounter resistance near $60,000, but this hasnβt stopped altcoins from advancing on their previous all-time highs. Bitcoin (BTC) finished the mo...
Cryptocoins Exchanges / Binance - 2 years ago
So trust wallet gives you 30% APR on your BNB but I know 30% APY means you make 30% annually of the amount staked so what does APR mean and how do you calculate it? I checked everywhere online but it seems vague and different websites give different...
Cryptocoins Exchanges / Binance - 2 years ago
I'm a bit confused about using BNB to pay for transactional fees, and have some technical questions: Does BNB need to be held in the spot wallet to do receive the BNB reduced transactional fee? Or, if it is staked, or stored in the binancw vault...
Cryptocoins Exchanges / Binance - 2 years ago
I'm new to crypto, and I just bought a good amount of BUSD. Now, I want to swap it to BNB in Metamask but I need BNB in the first place to do it, which I don't have. I don't have any more cash to buy BNB, so if someone could spare $1 wort...
Cryptocoins News / NewsBTC - 2 years ago
Today, we will talk about one of the most important things you should be thinking about and researching right now: crypto and the blockchain β and specifically, yield farming. Now, why do you think that this is so important? Cryptocurrency is going t...
Cryptocoins Exchanges / Binance - 2 years ago
The listing is tomorrow and still I didn't get any SANTOS. The Website of the BNB Vault says that you will get SANTOS. submitted by /u/JasonTheHasher [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins rebounded off their strong support levels, but the real challenge for the bulls is to sustain the momentum and clear the $60,000 resistance level....
Cryptocoins Exchanges / Binance - 2 years ago
This is a new BSC token, bought on a presale. What can I do? I can see the token on my bnb binance address on bscscan.com but how can I move it from there? submitted by /u/noviero [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Iβve been very lucky honestly..Iβm entered on bnb just for a try. So happy! submitted by /u/Gabcar30 [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin looks ready to rebound off a critical support level and if this happens select altcoins like BNB, LUNA, MANA and SAND may also attract buyers. Bitcoin (BTC) a...
by COINS NEWS - 2 years ago
There's been tons of love and promotion for CRO lately but I fail to see how it's any different from any other centralized exchange tokens like BNB, KCS etc. Just a few months ago several of the top posts were about what a travesty the crypto...
Cryptocoins Exchanges / Binance - 2 years ago
All my bnb is in my trust wallet. Whatβs the best coin to swap shib with then send to my trustwallet? submitted by /u/6dinonuggiesplease [link] [comments]