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 / The Cointelegraph β - 2 years ago
Bitcoin price continues to press higher within its range and altcoins broke out after ETH rose above a key resistance level. Bitcoin (BTC) is struggling to break above...
Cryptocoins Exchanges / Binance - 2 years ago
Hi. Whenever i try to buy BNB. The transaction using my creditcard(visa and mastercard) doesnt push through. Please help me. submitted by /u/kbkenneth [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Would buying the BNB coin be the equivalent of buying shares of Coinbase on the NYSE? I come from the traditional finance world and Iβm trying to conceptualize investing in the crypto space. How do yβall research the fundamentals similar to how you w...
Cryptocoins Exchanges / Binance - 2 years ago
Looking for help. I sent my BNB from my Metamask back to my Binance exchange spot wallet, but accidentally sent it to BUSD. I can see the transaction ID and amount, but I have no clue if it can be recovered and placed in the right spot wallet address...
Cryptocoins Exchanges / Binance - 2 years ago
Ledger wallet only supplies an app for Binance Smart Chain and the BNB on my Exodus wallet is Binance Chain. I am now under the impression that I have to convert it from BEP2 to BEP20 before I can send it to my Ledger (although I have no idea what th...
Cryptocoins Exchanges / Binance - 2 years ago
Hey guys, does anyone knows if there is a date for BNB to be BEP-20 compliant and therefore WBNB stop existing? submitted by /u/Stunning-Map8530 [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and select major altcoins are still facing selling at overhead resistance levels, indicating that the next leg of the uptrend may have to wait. There is an old...
Cryptocoins Exchanges / Binance - 2 years ago
Hi all, new to Binance.us and purchased some BNB. Now I want to transfer some BNB to my MetaMask wallet so I can use Pancake Swap. However, when I try to withdraw, the only network available is BEP2. There is no option to select BEP20, which is the n...
Cryptocoins Exchanges / Binance - 2 years ago
Somebody any idea why the BNB staking APY on Binance is diving? On Trust Wallet itβs almost double. When I started my 90 day locked staking the APY on Binance was 12.49% then we came down to 9,x%, now itβs 8,69%. In under 10 days 33% less APY. I donβ...
Cryptocoins Exchanges / Binance - 2 years ago
so i have 1BNB on my metamask on the BSC Testnet Network (don't remember how i got it there) i tried to send some to binance (ERC20) but I didn't receive anything. anyone that can help me out here? thanks submitted by /u/Top_Obj...
Cryptocoins Exchanges / Binance - 2 years ago
Is there anyway to trade BNB for something stable enough to transfer to Coinbase? submitted by /u/Covid-ColdOnes [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Hello guys, I set up an account on Binance in 2018; at that time, I set it up to see what the chart and the crypto market were like and had no intention of anything else. Back then, I was a young - dumb - broke high school student. It seems that I ha...
Cryptocoins Exchanges / Binance - 2 years ago
I had around 50 BUSD remaining in my spot wallet. Woke up today to find that now I have $50 worth of BNB instead. I don't remember buying BNB or don't see any transactions in my trade history either. Converting small balance to BNB does not a...
Cryptocoins Exchanges / Binance - 2 years ago
Hi I sent BNB from an exchange to my binance smart chain wallet. I only see the amount display but not the token value. Can someone help? submitted by /u/Sea_Nature6900 [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and altcoins saw a strong bounce off their respective support levels, a sign that traders are still buying on dips. Asset managers and companies currently hold...
Cryptocoins Exchanges / Binance - 2 years ago
I behaved like a noob and sent the BNB that i had on my Chain Wallet back to the address that it came from, (on the activity history) i then realized that i should have sent it to my BNB adress thats on the deposit section on binance.com. Is there so...
Cryptocoins Exchanges / Binance - 2 years ago
Hello, i withdraw a BNB from draken exchange to sent on Metamask this day and I did not received them. Could you help me please? I have my hash transactions. submitted by /u/EnvironmentalBeat671 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I have some coins below 0.001 BTC in value (left over after the step and tick size update) and all of them can be turned into BNB, except for ONT - is this an oversight on the exchange's part, or am I doing something wrong? I haven't used the...
by COINS NEWS - 2 years ago
Greetings all, this is my third attempt at this now, so fingers crossed! Foremost, I have finally accumulated enough comment karma to post, so super happy to share my love for the sub. I have learnt a great deal in my short journey with plenty more...
Cryptocoins Exchanges / Binance - 2 years ago
Recently Iβve noticed that for some reason Iβm getting 0.1% cash back instead of the regular 2% that I was getting prior months. Iβve found out that thereβs some Card levels for cash back that depend on the staked BNB. My level has dropped from 2nd t...