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.

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Cryptocoins Exchanges / Binance - 2 years ago

BNB Mainnet Faucet?

I have a little bit of ETH @ a secondary address that I want to transfer but have no BNB and dont wanna pay fiat + fees to buy BNB. Is there a faucet somewhere that actually works for just tx fee amounts? submitted by /u/bltsandwich13...

Cryptocoins Exchanges / Binance - 2 years ago

Staking BNB w/ TrustWallet

With the most recent hack it got me thinking... are staked funds prone to hacks like what happened with PolyNetwork? Not sure the exact hack method but are funds that staked on validator at risk? I have a good portion of my future retirement account...

Cryptocoins Exchanges / Binance - 2 years ago

How to get free bnb

Hello guys I need ur help I want to withdraw some bnb But the minimum amount to Withdraw is 0.01 bnb And I only have 0.009 bnb Is there any way to get free bnb Or if there any way to withdraw the bnb without buy bnb submitted by /u/Sign...

Cryptocoins Exchanges / Binance - 2 years ago

Transferring BNB out in the US?

I got a notification about Binance banned in the US, trying to get my coins out, but stuck with BNB. It won’t let me convert to BTC and, apparently due to the ban, banking info was wiped? I cannot complete a verification step to add it back as the US...

Cryptocoins Exchanges / Binance - 2 years ago

Staking BNB WITHOUT trust wallet

I know staking/delegating BNB can be done with Trust Wallet. Theoretically it should be possible to be done without any intermediaries. How would it be done? Is there any official documentation about it? submitted by /u/cryptoizotx [l...