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 - 3 years ago
I know for debit purchases there's a 5 day hold, but is it the same every time you swap your coins? submitted by /u/Deeman0 [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
I have been trying to deposit some in my wallet for the past couple of days but I cannot because finance and every other exchange has disabled withdraws on the BEP 20 net work. I just need some in my wallet for one transaction and I will pay it back...
Cryptocoins Exchanges / Binance - 3 years ago
Im kinda a newbie so i just wanna make sure what im doing is really for the best submitted by /u/FlyUzi [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
I want to buy BNB from the Binance.us site but they place 5 day holds. Any other site with low fees? submitted by /u/krypto75 [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
I want to withdraw my bnb, but if Iβm correct I need to switch it from smart chain to regular bnb. When I hit swap then swap to Binance chain it disappears for about an hour then gets put back in my account as smart chain. What am I doing wrong? ...
Cryptocoins Exchanges / Binance - 3 years ago
Swapped some smart chain to bnb on trust wallet and the transaction says completed but has not appeared in my bnb (yet?) Is it a waiting game? Thanks ???????? submitted by /u/EGGWIN_ [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
I don't know why i'm having issues with trust wallet... I sold of bunch of shit on pancake for BNB SC,then converted to BNB but it won't let me trade BNB to ETH. It doesn't give me any sort of warnings or anything, it just doesn't...
Cryptocoins News / The Cointelegraph β - 3 years ago
Bitcoin and Ether closed October on a strong note, increasing the possibility that the rally will pick up pace in November. Bitcoin (BTC) and Ether (ETH) had their hig...
Cryptocoins Exchanges / Binance - 3 years ago
Iβm using Binance.us if that makes any difference. Is there another way to withdraw my BNB and then convert it to BSC (BEP-20)? submitted by /u/TuaTurnsdaballova [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
Probably the wrong place to post this, but currently undergoing a review with another exchange and have no idea when they'll release it and won't give me a time frame. submitted by /u/Mannimal13 [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
In Binance you can (as of about 6 months ago) convert all your small leftover coins to BNB. BinanceUS does not have this feature. Any reason why, and if we can request it if not? I searched online and in this subreddit - no luck on the answer to thi...
Cryptocoins News / The Cointelegraph β - 3 years ago
Bitcoin is witnessing modest profit-booking, but the long-term trend remains intact and altcoins like ETH, BNB, MATIC and FTM may remain in focus in the short term. Th...
Cryptocoins Exchanges / Binance - 3 years ago
I've been trying for hours to get bnb through many different ways and I'm just too tired right now. I need it to trade my eth to bnb on pancakeswap. But in order to do that I need bnb gas first. If anyone is kind enough thank you. 0xE8B4EdFD...
Cryptocoins Exchanges / Binance - 3 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 - 3 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 - 3 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 - 3 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 - 3 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 - 3 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 - 3 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]