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
I have been enjoying Binance Smart Chain lately and all of the coins being launched. Wouldn't it be easier to just convert all BNB tokens to BSC tokens permanently? Is there any benefit to keeping the two versions of the token? submitted b...
Cryptocoins Exchanges / Binance - 2 years ago
Hi, I sent an NFT to my BNB Address and not my Smart Chain Address. Is there any way to recover the NFT. I realize it’s a stupid mistake but any help would be appreciated so much. Thanks again. submitted by /u/JohnMcafee4coffee [li...
Cryptocoins Exchanges / Binance - 2 years ago
Anyone found some juicy APY I can sink my wallet into? I'm still getting a hang of Impermanent Loss. I suppose some expert knowledge could guide me in the right direction. Thanks! submitted by /u/antibodywantstorule [link] [...
Cryptocoins Exchanges / Binance - 2 years ago
The Basics:Locked Liquidity For 1 Year ✅Created by a UK company, for accountability and investor protection ✅Evolving mentality, which utilises community feedback for improvements across all of our use cases, products and services ✅Holding Tally will...
Cryptocoins Exchanges / Binance - 2 years ago
Hello team, Have doubt on bnb coin price for india. I can check in coingecko and other site where 1 bnb is equal to roughly 42k But When I try to buy it in #binance app 1bnb is costing around 46k Can someone clarify why this much price difference By...
Cryptocoins Exchanges / Binance - 2 years ago
ETH rose to prominence as Bitcoin’s second due to its smart contract applications and transaction capabilities among other things. The need for an ecosystem like Ethereum became more apparent as more people started using crypto on a daily basis and r...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and most major altcoins are attempting to hold above their immediate resistance levels, a sign that bulls could be buying on each dip. Bitcoin (BTC) and Ether...
Cryptocoins Exchanges / Binance - 2 years ago
Hey guys, I was wondering why the minimum withdrawal moved from 0.1bnb to 0.01bnb back to 0.15 bnb is the past 2 weeks? Is it tied to the price? Thanks submitted by /u/Ubermike90 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Can't seem to find it anywhere and I'd really like to swap my BNB ASAP :D. submitted by /u/blazexddd [link] [comments]
Cryptocoins News / NewsBTC - 2 years ago
With Binance Smart Chain offering numerous possibilities to earn profits, Smart Contract happens to be the rising star. One of these opportunities happens to be Decentralized Applications (or Dapps) that seek to take advantage of the PoS (Proof of St...
Cryptocoins Exchanges / Binance - 2 years ago
I dont have alot of knowledge in crypto but I wanted to creating some tokens for internal usage here, but somehow I send all my BNB to another wallet Here is the scan page : https://bscscan.com/tx/0x4a78ccd87552e42355b0f53f184d0d24664be1e271577712029...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and large-cap altcoins are meeting strong overhead resistance, which could be a signal that bears are attempting to stall the next upward move. Bitcoin (BTC) c...
Cryptocoins News / NewsBTC - 2 years ago
With the countless financial opportunities offered in the cryptocurrency space, DeFi (Decentralized finance) has provided an escape from low-interest rates (from traditional investments) to many users. DeFi based applications (Dapps) have made it pos...
Cryptocoins Exchanges / Binance - 2 years ago
Hi, I've seen in a few different guides that you can swap for some BNB when your are bridging onto the BSC network. I'm trying to bridge 0.17 BTC onto BSC but I don't see an option for including BNB, does anyone have any suggestions as to...
Cryptocoins Exchanges / Binance - 2 years ago
BNB is the most reliable token as it's integrated into the binance ecosystem. So far it's the most profitable asset on my portfolio submitted by /u/Outrageous_Toe_6725 [link] [comments]