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
Hello everyone! I have had some good fortune and luck lately and would like to pay it forward! I am going to be giving away 2BNB on October 5, 2021 with the following breakdown: 1st - 1BNB 2nd - 0.5BNB 3rd - 0.25BNB 4th and 5th - 0.125BNB If you woul...
Cryptocoins Exchanges / Binance - 2 years ago
I know for the most part the days of faucets are long gone, but I have a coin stuck on the BEP20 chain and no way of getting my hands in any BNB, so Iβm wondering if there are faucets that give out very small amounts? Thanks submitted by ...
Cryptocoins Exchanges / Binance - 2 years ago
Ive read some of the comments that all of their savings are being invested in these crypto currencies... Is it feasible or what submitted by /u/jmgomez_rajfrse [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins have dropped to their critical support levels, which is likely to attract strong buying from the bulls. The crypto markets and the U.S....
Cryptocoins Exchanges / Binance - 2 years ago
https://preview.redd.it/omybsi5npoo71.png?width=859&format=png&auto=webp&s=8cc078d41ce3710a0d9f327bf59eec6709c2ba1a submitted by /u/MetallyRetarded [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
While the crypto worlds been on fire, my AI's been firing pings on BNB. I dont know if this is a sign from god (really the community, as the AI works off social data) but I'd love to know why is BNB talk of the town? https://preview.re...
Cryptocoins Exchanges / Binance - 2 years ago
Recently moved some USDC on MATIC to BSC, in plans of doing some staking with CAKE. Only problem is, I need BNB to onboard with, and at a loss on how to onboard some. Was wondering how people get some BNB to cover transactions (since from what I can...
Cryptocoins Exchanges / Binance - 2 years ago
People in Texas...how do you convert BNB to USD and send to your bank account ? Thanks in advance. submitted by /u/ostaad [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Was trying frantically to find the answer to the above question but couldn't find it anywhere! In a bid to help anyone else with the same question, the answer is that the app has changed name to "Tendermint Binance Chain". Would have sa...
Cryptocoins Exchanges / Binance - 2 years ago
Hello, I need to spend money from a BSC wallet (BEP20) but I have no gas fee, can someone give me BNB please a little just for the gas fee. I would really appreciate it. My wallet ID: 0xEd6e0C4398176B71988eE8e167C4C8F586897C99 submitted by ...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin is sustaining above its immediate support, but several altcoins are showing signs of profit-booking. Bitcoinβs (BTC) recovery is facing stiff resistance near...
Cryptocoins Exchanges / Binance - 2 years ago
Hey I just want to know that recently there was a presale of MONI token which I missed due to my wallet unlisted, So how to participate in any new project? If anyone can guide me step by step. 2400 MONI token was = 1 BNB and now it's listed on pa...
Cryptocoins Exchanges / Binance - 2 years ago
What is the next ATH of Binance Coin BNB...for 2021..? submitted by /u/Aggressive_Garlic793 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I converted some bitcoin to BNB cause the fees to change bitcoin to GBP were kind of high but now I realise I cant change BNB to GBP, whats the best course to convert so I can withdraw? are their cryptos with cheaper conversion rates? submitte...
Cryptocoins Exchanges / Binance - 2 years ago
Not sure where they gather, so just gonna post it on the main board. Background: People can stake their BNB on https://www.binance.org/en/staking or within the Trust Wallet app. They have 21 validators to choose from, their commissions varies from 0%...
Cryptocoins Exchanges / Binance - 2 years ago
I have looked at few exchanges but am not successful ???? can anyone help! Ty submitted by /u/blues_box [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Buyers continue to scoop up Bitcoin and altcoins on dips, a signal that there is strong demand at lower levels and that bullish momentum is building. Bitcoin (BTC) i...
Cryptocoins Exchanges / Binance - 2 years ago
Hello guys, i had some old dust in my binance wallet, and converted all into BNB (something equivlent to $0.30), the main part of the balance was already withdrew. I want to disable my accont, but with empty account, without any currency or crypto. I...