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
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...
Cryptocoins Exchanges / Binance - 2 years ago
As the title syas I have less than 0.05***** bnb β26$β and it bugs me to keep that money in there without knowing what to do with it, i tired to convert it to any other coin but itβs less than the Minimum amount 0.05. Any tips for this one guys? ????...
Cryptocoins Exchanges / Binance - 2 years ago
Trying to move some BNB from my binance account over to my binance wallet but keep getting the error that it is currently suspended. Am I doing something wrong? Is this normal? submitted by /u/Rich_Ice_2918 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Ive made a couple of thousand of euro from pure luck from 0.2BNB my friend gifted me a while back. Now i try to convert the BNB ive transfered to Binance to euro and it gives me the option of either fiat och p2p with p2p having a much better exchange...
Cryptocoins Exchanges / Binance - 2 years ago
A little under 3 hours ago I had sent BNB from my Binance account to my trust wallet, This transfer after almost 3 hours still says processing and confirmation 0/1. Is there something wrong on my end or binances end? EDIT: Issues resolved now, the tr...
Cryptocoins Exchanges / Binance - 2 years ago
If there anyway to do this? I really want the 20% APY but the 7 day lockup if you want to unstake is annoying. submitted by /u/Praid [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I lost over $100 in gas fees when swapping back to bnb on meta mask why is it so high?? submitted by /u/bsundae36 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
2 hours ago I tried to withdraw, still says processing 0/1? submitted by /u/RickyDactyl [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Ethereum is outperforming Bitcoin in the short-term and the strength of ETH in its USD and BTC pair could be a sign that the entire altcoin market is on the verge of a larger rally....
Cryptocoins Exchanges / Binance - 2 years ago
Hi. Can I send BNB (not BNB smart chain) from Binance to a BNB Smart chain receive address in trust wallet or must I send it as BNB to Trust wallet and convert it there? Also Binance says Binance Chain Suspended. Does that mean the network is too co...
Cryptocoins Exchanges / Binance - 2 years ago
what is wrong? how long will it take to be able to send them again? submitted by /u/FashionToy [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
EDIT: Amazing 5 seconds after posting this, I got 4 messages from Customer Service - Binance is the bestest! \"Should arrive within 30 minutes\" - \"Estimated time: a few seconds\" - Real Waiting Time: 2 hours+ and waiting...
Cryptocoins Exchanges / Binance - 2 years ago
I did send BUSD from Trustwallet to Gate.IO funny things is when I tried for real to send BUSD from TW to Gate.io It could not pass, and when earlier I did for BUSD to BNB It passed with flying color. Did asked them, not impressed with the answer, as...
Cryptocoins Exchanges / Binance - 2 years ago
just wondering. Seems strange that this would not be possible? I see BNB pairs available on main Binance dot com website but not Binance dot US. if someone could explain this to me that would be helpful. Couldn't find anything on it with search e...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and Ether may witness a deeper pullback over the coming days and this move could shake weaker hands out of altcoins and other high risk positions. Bitcoin (BTC...
Cryptocoins Exchanges / Binance - 2 years ago
βοΈ What is Sunshield Token? βοΈ Sunshield is a super deflationary token designed to become more scarce over time and ready to go parabolic with its carefully calculated tokenomics. Sunshield auto-generates rewards to its holders every 12 HRS. It's...
Cryptocoins Exchanges / Binance - 2 years ago
Suddenly it's showing bnb is suspended of withdrawal. Does anyone else facing the same problem are I am the only one ? submitted by /u/redstargems [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Could someone send me 0.005 for gas fees :/ would appreciate that! Wanna cash out on some assets but i forgot to save some gas fee???? submitted by /u/outcastnocap [link] [comments]