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
Hi everyone, I am new to crypto. I don't have the binance coin in my wallet, recently I changed my usdt to binance peg usdt but now I require BNB coin for buying cakeswap or BNB coin. Please do guide me submitted by /u/matif290 [l...
Cryptocoins News / NewsBTC - 2 years ago
Blockchain has been taking over the world. Currently, one of the hottest and most rewarding platforms happens to be DeFi tools. With so many different projects getting launched every day, it’s difficult to find something with promising quality and ea...
Cryptocoins Exchanges / Binance - 2 years ago
Not that fiat is good or anything but I’m curious to how you guys would go upon getting BNB to fiat so I can pay rent or bills. It’s easy to get fiat to crypto but how does it work the other way? I’ve never done it submitted by /u/Fuckt...
Cryptocoins News / The Cointelegraph - 2 years ago
Bearish pressures mount against Bitcoin price and this could lead to sharp short-term pullbacks in the prices of many altcoins. Bitcoin (BTC) price continues to weaken...
Cryptocoins Exchanges / Binance - 2 years ago
I recently transferred by BNB from Binance to my MetaMask wallet(which had a BNB balance before the transfer). However the transfer was automatically sent to an address called as BSC: TOKEN HUB and along with the initial BNB token as well as the exis...
Cryptocoins Exchanges / Binance - 2 years ago
I accidentally sent BNB to my ERC20 deposit address using the Fantom network, I know, stupid mistake... I see they accept FTM deposits over the network but not BNB, is it likely that they'll accept BNB deposits through the network or can I say g...
Cryptocoins News / NewsBTC - 2 years ago
BNBMatrix.io is a yield farming Dapp on BSC. The goal is to make the most of the Binance Smart Chain without having to spend too much time and/or resources.
The Binance Smart Chain (BSC) has seen an increase in the activity on its blockchain from tok...
Cryptocoins Exchanges / Binance - 2 years ago
I’m just curious if anyone has used this and if it’s safe? It was audited by Haze Crypto and they didn’t find any problems. It offers from 7.8 to 17 % daily ROI and a five level reward program.Just wanted to hear some feed back on this if any. Thank...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin’s new all-time high at $69,000 and Ether’s slow climb toward $5,000 are clear signals that bulls are in control and a hint that altcoins intend to follow. Bi...
Cryptocoins Exchanges / Binance - 2 years ago
Can I send bsc to bnb wallet on Binance app without first converting bsc to bnb on trust wallet? submitted by /u/hypecode2030 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I have $0.71 in BNB but keeping get this json RPC error due to too low fee. At the same time, binance charges me to withdraw from exchange r due to high minimum withdrawal limit. Need to liquidate my MM tokens but can't right now till next payout...
Cryptocoins Exchanges / Binance - 2 years ago
so i sent about 200euros worth of bep2 bnb from binance to bitmart and i didnt get my token i entered the memo right and i also triple checked the address and i havent recieved my bnb why is this so confusing and annoying. binance is saying that tran...
Cryptocoins Exchanges / Binance - 2 years ago
Currently have 5 BNB and will prob get a lot more than that soon, what’s everyone’s thoughts on future price? I personally believe it will go up so it’s a good investment but I may be wrong, interested to see what u guys think submitted by ...
Cryptocoins Exchanges / Binance - 2 years ago
Hi I’m wondering if their is a faucet to get a small amount of BNB to pay gas fee submitted by /u/Adventurous-Ebb2272 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
The way binance evolves reminds me of China, slow but steady, and methodically growing bigger. They have to bend their arses to some governments now, but their time will come. Slow and steady. #ForeverBnB, because I believe in a different future, and...
Cryptocoins News / NewsBTC - 2 years ago
Since its launch in September 2020 as a parallel platform by Binance, Binance Smart Chain (BSC) has been making its presence felt in multiple financial technology markets. With its low transaction fees, fast processing speeds, and compatibility with...