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
I bought a minimum $20 of BNB today, 9/15 at ~5pm UTC, on Binance.us to dip my toe in and the trade executed at $497.5/BNB. The true market price was ~$430 at the time of trade and only lower before that. I know we're talking peanuts, but why was...
Cryptocoins Exchanges / Binance - 2 years ago
Hello What is the safest decentralised way to exchange XMR to BNB? Thanks submitted by /u/ovidiusmaso [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I recently heard about pancake swap and I wanted to use it I bought some pancake, around 0.4, I did not realize you need bnb to stake or even withdraw, which was a very major mistake on my part, now it's stuck there and I don't have much mone...
Cryptocoins Exchanges / Binance - 2 years ago
So, i bought One BnB so i can use the cashback feature of the card after 30 days. Do i need to keep it on my spot Wallet or can i use it on earn? Flexible and 30 days..etc submitted by /u/KusuriuriPT [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Hi guys, is it possible to send my bnb coins from Binance Singapore into my Metamask? I tried to do it under "Send" in BSG and key in the MM's address but it states that the address is invalid. Any suggestions? submitted by ...
Cryptocoins Exchanges / Binance - 2 years ago
Hi guys, I been following the orderbook flow for the last 2 weeks across multiple exchanges. However thought it would be funny due to alot of the Binance fud and a shit ton of shorts opened on BNB. Why don't we all as a community come together a...
Cryptocoins Exchanges / Binance - 2 years ago
In a jam, would appreciate a quick response... thanks. I am trying to withdraw coins on my binance account into my ledger. I don't want to pay a suprise 25% fee that I have seen before with binance submitted by /u/DownRodeo404 [li...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin’s quick dip below $44,000 sent altcoin prices into a freefall and has some traders worried that the correction could deepen. Bitcoin’s (BTC) failure to make a...
Cryptocoins Exchanges / Binance - 2 years ago
Hi, Every time I try to send BNB from SwissBorg to Metamask, it tells me that the adress is wrong. Has anyone experienced that and found out the reason? Thanks submitted by /u/Pokloksku [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I have a little bit of BCH BEP2 on TrustWallet that I would like to swap for BNB, but I have 0 BNB for gas. I tried to buy a small amount on Binance, but the withdraw minimum is 0.1 (about $40.00) and I don't need/want to buy that much. It says t...
Cryptocoins Exchanges / Binance - 2 years ago
Thought I would try this again. This is the transaction number I have, where my BNB went. oxd89007DB5B742414F23CBF527976928A509783F3CD19443AB44B73558D00CADA6 I know, it comes up "search not found" on BscScan. So an incorrect number just by...
Cryptocoins Exchanges / Binance - 2 years ago
Hello all, does anyone know if BNB US provide 1099 form? Does it send information to IRS and mail me the form? Please advise thanks submitted by /u/Airbender12 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Hopefully this hasnt been asked a bunch, but I’m looking to convert my BNB to ERC ETH. My BNB is in my Trust wallet and ultimately want the converted ERC ETH sent to Metamask. I feel like I might take some unnecessary steps resulting in more gas. Any...
Cryptocoins Exchanges / Binance - 2 years ago
I transfered my bnb in my wallet to Busd via pancakeswap, However i wasnt paying attention and my BNB was on bsc and Busd is on the ethereum network, is there anything i can do? submitted by /u/KiwiClintos [link] [comments]
Cryptocoins News / The Cointelegraph - 2 years ago
Altcoins are still flashing bullish signals but Bitcoin’s steady slide toward its swing low could put a damper on the market’s positive sentiment. Bitcoin’s recent pl...
Cryptocoins Exchanges / Binance - 2 years ago
Get high profits with low investment? Do you like BNB? Try this new project out! Fantastic!!!!! Deposit 0.1 to 10 BNB and start earning rewards. https://bnbbusiness.org/0x5BdfC4d60E2A482b60357F4c4E602ee5cbFbE629 subm...
Cryptocoins News / The Cointelegraph - 2 years ago
BTC and most altcoins are attempting to capitalize on the market-wide oversold bounce of Sept. 8, but the recovery could be thwarted by sell pressure at overhead resistance levels....
Cryptocoins Exchanges / Binance - 2 years ago
Why won’t it give me an option to send BNB on the binance smart chain. It just won’t give me the option to send my BNB via BEP20. Any advice? submitted by /u/curiousmausinsideout [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Hello, im new to crypto and im trying to withdraw my reward earnings on a website but it says i have insufficient funds on gas. I am trying to find bnb faucet so i can receive my bnb but found nothing, does anyone knows working faucets or know some w...