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
There might have been some posts or threads for this kind of situation but I wasnt able to find it ... I need about 20 cents (0.0003?BNB) to exchange my ETH to XRP ... would really appreciate it if someone helped me there and Id pay back 1$ in xrp or...
by COINS NEWS - 2 years ago
I believe EverRise is going to be huge by the end of the year. They already have real world utilities including EverOwn to unlock defi contracts using community votes. There are already large partnerships with contract auditors. V2 is also c...
Cryptocoins Exchanges / Binance - 2 years ago
A little help please I have a some old world (ERC20 BNB), can someone help instruct me in how to convert it into some thing useful please? submitted by /u/TruckerDave3 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I spent several hours trying to figure this out, and once I figured out I can send some coins to swap to resolve this,.. TURNS OUT I NEED BNB TO SWAP AS WELL. So now, I cant buy or swap because I don't have BNB, but I cant get BNB. ...
Cryptocoins Exchanges / Binance - 2 years ago
Title^ suddenly i need to spend over 100 euros on those coins. submitted by /u/Angel_Valoel [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I know for debit purchases there's a 5 day hold, but is it the same every time you swap your coins? submitted by /u/Deeman0 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I have been trying to deposit some in my wallet for the past couple of days but I cannot because finance and every other exchange has disabled withdraws on the BEP 20 net work. I just need some in my wallet for one transaction and I will pay it back...
Cryptocoins Exchanges / Binance - 2 years ago
Im kinda a newbie so i just wanna make sure what im doing is really for the best submitted by /u/FlyUzi [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I want to buy BNB from the Binance.us site but they place 5 day holds. Any other site with low fees? submitted by /u/krypto75 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I want to withdraw my bnb, but if Iβm correct I need to switch it from smart chain to regular bnb. When I hit swap then swap to Binance chain it disappears for about an hour then gets put back in my account as smart chain. What am I doing wrong? ...
Cryptocoins Exchanges / Binance - 2 years ago
Swapped some smart chain to bnb on trust wallet and the transaction says completed but has not appeared in my bnb (yet?) Is it a waiting game? Thanks ???????? submitted by /u/EGGWIN_ [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I don't know why i'm having issues with trust wallet... I sold of bunch of shit on pancake for BNB SC,then converted to BNB but it won't let me trade BNB to ETH. It doesn't give me any sort of warnings or anything, it just doesn't...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and Ether closed October on a strong note, increasing the possibility that the rally will pick up pace in November. Bitcoin (BTC) and Ether (ETH) had their hig...
Cryptocoins Exchanges / Binance - 2 years ago
Iβm using Binance.us if that makes any difference. Is there another way to withdraw my BNB and then convert it to BSC (BEP-20)? submitted by /u/TuaTurnsdaballova [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Probably the wrong place to post this, but currently undergoing a review with another exchange and have no idea when they'll release it and won't give me a time frame. submitted by /u/Mannimal13 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
In Binance you can (as of about 6 months ago) convert all your small leftover coins to BNB. BinanceUS does not have this feature. Any reason why, and if we can request it if not? I searched online and in this subreddit - no luck on the answer to thi...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin is witnessing modest profit-booking, but the long-term trend remains intact and altcoins like ETH, BNB, MATIC and FTM may remain in focus in the short term. Th...
Cryptocoins Exchanges / Binance - 2 years ago
I've been trying for hours to get bnb through many different ways and I'm just too tired right now. I need it to trade my eth to bnb on pancakeswap. But in order to do that I need bnb gas first. If anyone is kind enough thank you. 0xE8B4EdFD...
Cryptocoins Exchanges / Binance - 2 years ago
Looking to build a DFS platform for fans to win BNB instead of cash. We think that it can help reduce the transfer times from your winnings and to guarantee that no shady shit happens behind the scenes. Our idea is that fans would enter fantasy NBA/N...