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 News / Finance Magnates - 7 months ago
In the wake of a devastating earthquake that rocked
Morocco on September 8, causing casualties in Marrakesh, Binance has pledged
USD $3 million in Binance Coin (BNB) to assist the victims of this disaster.Binance's initiative
involves issuing a serie...
Cryptocoins News / The Cointelegraph - 7 months ago
Binance said it will issue a series of airdrops worth up to $100 in BNB to users located in Morocco’s highly impacted Marrakech region. Cryptocurrency exchange Binance...
Cryptocoins News / Blockchain - 7 months ago
Binance Charity has pledged to airdrop up to $3 million in BNB to affected users in the Marrakesh-Safi Province of Morocco. The airdrop will be based on Proof of Address (POA) submissions, with users who completed their POA by 9 September 2023 eligib...
Bitcoin News / Bitcoin.com - 7 months ago
Rich Dad Poor Dad author Robert Kiyosaki has warned that Airbnb will lead the incoming real estate market crash. Noting that many people are worried that the “Airbnbust” is finally here, an economist cautioned that “it could get a lot worse between a...
Bitcoin News / Google News Bitcoin - 7 months ago
Joe Biden, China And G20 Leaders Back ‘Swift’ Game-Changing Radical, Global Crypto Price Rules For $1 Trillion Bitcoin, Ethereum, BNB, XRP And Crypto Market& & Forbes
Bitcoin News / Google News Bitcoin - 7 months ago
Joe Biden, China And G20 Leaders Back ‘Swift’ Game-Changing Crypto Price Rules For $1 Trillion Bitcoin, Ethereum, BNB And XRP Market& & Forbes
Cryptocoins News / The Cointelegraph - 7 months ago
Bitcoin remains stuck in a range, but certain altcoins are showing signs of breaking down in the near term. The bulls tried to shake Bitcoin from its slumber on Sept....
Cryptocoins News / The Cointelegraph - 7 months ago
As it turns out, Binance does, in fact, have the power to freeze private wallet addresses on BNB Chain — albeit only with the consensus of all its validators. A BNB Ch...
Bitcoin News / Google News Bitcoin - 7 months ago
‘A Huge Deal’—Visa Reveals Crypto Payments Bombshell That Could Cause Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron And Toncoin Price Chaos& & Forbes
Cryptocoins News / Blockchain - 7 months ago
BNB Chain has announced the winners of its Ecosystem Catalyst Awards, recognizing key blockchain contributors in four categories: PancakeSwap, MAV Protocol, Izumi Finance, Helio Money, and Alpaca Finance, with the aim of driving innovation and collab...
Cryptocoins News / The Cointelegraph - 7 months ago
Bitcoin and several major altcoins continue to show weakness, but a few data points do favor bulls in the short term. Bitcoin (BTC) has been trading between $25,333 a...
Bitcoin News / Bitcoin.com - 7 months ago
Introduction: Should one venture into the expansive realm of decentralized finance, they may undoubtedly discern a conspicuous and dynamic force creating substantial ripples: SmarDex ($SDEX). This entity does not merely constitute an additional entra...
Cryptocoins News / Blockchain - 7 months ago
Binance has introduced Dual Investment products, allowing users to "Sell High" or "Buy Low" on various cryptocurrencies, with a fixed Annual Percentage Rate (APR) despite market fluctuations, designed for reward accumulation or higher deposit currenc...
Cryptocoins News / The Cointelegraph - 7 months ago
Bitcoin price is range-bound, but several major altcoins, such as XRP, are showing signs of a potential breakdown. The United States’ equities markets are on a recover...
Cryptocoins News / Blockchain - 7 months ago
Binance has integrated Maverick Protocol (MAV) into its BNB Smart Chain, enabling MAV token deposits and withdrawals on the BEP20 standard. This decentralized finance infrastructure optimizes liquidity for traders, providers, and developers. Users ca...
by COINS NEWS - 7 months ago
\Disclaimer: This post is for entertainment purposes only. The factors that determine crypto prices and market behaviour are too complex for any model to forecast accurately.* I know we've all probably wondered what would become of crypto if some...
Bitcoin News / Google News Bitcoin - 7 months ago
Crypto Suddenly Braced For A Game-Changing China Earthquake That Could Hit The Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Solana, Tron And Toncoin Price& & Forbes
Cryptocoins News / The Cointelegraph - 7 months ago
Bitcoin and most altcoins gave back the entirety of their gains shortly after the SEC decided to delay issuing a decision on all of the recently filed spot Bitcoin ETF applications....
Bitcoin News / Google News Bitcoin - 7 months ago
‘September Is Going To Be Crazy’—A New Secret Binance Filing Could Be About To Rock The Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin And Solana Price& & Forbes