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
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]
Cryptocoins Exchanges / Binance - 2 years ago
Hello, so I was planning on moving my BNB to my ledger this past weekend, but Binance DEX will geoblocks the US. I don't need to use the DEX, but I want to be able to move my BNB in and out of my ledger and the only way to do this is through the...
Cryptocoins Exchanges / Binance - 2 years ago
Iβm in the UK and canβt deposit with bank transfer or even buy directly with debit card on Binance. I need some BNB for pcs fees, whatβs the best option could someone please help? submitted by /u/swiss1972 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
βοΈ What is Sunshield Token? βοΈ People are saying this token is "Tiki Meets EverRise". Sunshield is a super deflationary token designed to become more scarce over time and ready to go parabolic with its carefully calculated tokenomics. Sunsh...
Cryptocoins Exchanges / Binance - 2 years ago
Hello, My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different? should i be worried of this?, people are frea...
Cryptocoins Exchanges / Binance - 2 years ago
About to sell out on a trash coin to BNB to find out I'm. 13 short. And Binance is locked. He'll yeah! submitted by /u/Snoo68183 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
????WOWswap is a decentralized leveraged trading protocol that runs on Binance Smart Chain and Polygon Network. Traders can buy and sell their favorite tokens with up to 5X leverage. WOWswap is a fully community-owned protocol based on a simple idea:...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and several altcoins are attempting to resume their uptrend, but higher levels are likely to witness strong resistance from the bears. Bitcoin (BTC) has recove...
Cryptocoins Exchanges / Binance - 2 years ago
Hi there, I'm still pretty new to this. I bought BUSD about 10 days ago on Binance US because I wanted to use Pancake Swap. Being a n00b I sent it all to my Wallet once it unlocked. Well, I didn't think about sending a couple dollars of BNB...
Cryptocoins Exchanges / Binance - 2 years ago
Starting from some Coinbase funds I managed to convert ERC-20 ETH to BEP-20 ETH on my Metamask wallet. However it is useless if I donβt have BNB on my wallet to trade on Pancakeswap. Is opening a Binance account the only way to get BNB? submit...
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'...
Cryptocoins Exchanges / Binance - 2 years ago
Hi, yesterday I bought Upcake ($UPC) and left it in my Binance Wallet Direct, today I saw that its price rose 500% but also my tokens amount decreased to 1/5 of what I had... Wth? Is it somehow pegged to the BNB priceor something like that? And which...
Cryptocoins Exchanges / Binance - 2 years ago
https://preview.redd.it/246roy9kukv71.png?width=895&format=png&auto=webp&s=4d21dc144fbc6e0e9050758b0cffd79c49f8533f submitted by /u/MostAloneNibba [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I live in New York and canβt have a BNB account. I have BNB but not BNB smart chain to pay for the swap fee. submitted by /u/Clear-Protection339 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Is it a taxable event to convert profits from ETH to stablecoins such as BUSD/USDC, which are being used on the Binance visa card? Residing in EU/Norway submitted by /u/CJTuri [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Check out the ceos tweet: https://mobile.twitter.com/MarshallHayner/status/1451695529327431680 $5 million in that account! One of the coolest things is you can actually see the team members accounts on protonscan.io! Total transparency. submit...