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 has hit a few barriers but many altcoins appear positioned for continuation. Bitcoin (BTC) dropped back below $39,000 on Aug. 2, suggesting that short-te...
Cryptocoins Exchanges / Binance - 2 years ago
Hello fellow Binancians, I am a web developer building crypto related tools on my site and lately, as I am getting more involved with BNB and Binance Smart Chain, I wanted to also add BNB related tools and data to my site. The first one is BNB Burn H...
Cryptocoins Exchanges / Binance - 2 years ago
I heard there is one exchange where you can buy bnb but it doesnβt actually allow you to withdraw it. I need the bnb so i can trade in pancakeswap. Thanks submitted by /u/ako_si_panday [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Hi everyone i was thinking of surge safemoonmark creation : IT IS TOKENECONOMICS OF REFLECTION Made for BnB !!!! If anyone plan to invest on bnb for 1 year or ++++ he really had to buy surge !! He will sort of compound bnb investment with no fear of...
Cryptocoins Exchanges / Binance - 2 years ago
I did accept to transfer some MATIC into a vault at acryptos. But then they required BNB to send the MATIC in the second step. I have not enough BNB to send and I clicked on reject. Now, in my wallet is an entry: "Contract completed". What...
Cryptocoins Exchanges / Binance - 2 years ago
So, on my extension wallet I have both options. Wondering if there's any difference on sending my bnb to BCN ou BSC Network and then delegate to one of the validators. Thanks in advance! submitted by /u/SqyWalk3r [link] [co...
Cryptocoins Exchanges / Binance - 2 years ago
So I was playing around with some code and I realised that I actually don't know what the best performing crypto asset is in terms of sheer % gain. I could guess, but I would probably guess wrong anyway. So I spent a bit of time coding a sc...
Cryptocoins Exchanges / Binance - 2 years ago
I have purchased some BNB on Binance Singapore. Now I want to transfer those BNB to Meta Mask (Binance Smart Chain). Problem is Binance Singapore only allows BNB transfer to native chain. Is there any workaround? submitted by /u/psthede...
Cryptocoins Exchanges / Binance - 2 years ago
Do you guys think BNB will hit $3000 before 2024? I strongly believe in this coin gonna go conservative and start accumulating BNB but before that I needed to hear some of your thoughts. Constructive criticism is highly appreciated. View Poll ...
Cryptocoins Exchanges / Binance - 2 years ago
Hi, I checked the Binance site, following pages too, but couldn't locate a whitepaper. Google didn't help much either. Can you please tell if there is a BNB (or Binance) whitepaper, and where it is on Binance site? Thanks. submitted b...
Cryptocoins Exchanges / Binance - 2 years ago
Trying to trade on pcs but ran out of bnb gas fees is it possible for someone to send a dollar or less worth of bnb so I can trade. I will pay it back. Thanks. 0x7B98c3a34fA466dAC81C4899FdE56a19564434f9 submitted by /u/mikhailTalFan [...
Cryptocoins News / The Cointelegraph β - 2 years ago
Traders expect altcoins to move higher now that Bitcoin price finally pierced the $41,000 resistance. Bitcoin (BTC) and most major altcoins seem to be faltering near...
Cryptocoins Exchanges / Binance - 2 years ago
I have $750+ in Trust wallet that I successfully moved from Binance. I signed up for Binance.US but my verification is still pending. Is there anyway to get that $$$ to coinbase? I ask because I want to cash out for an emergency. I'm not fluent b...
Cryptocoins Exchanges / Binance - 2 years ago
I have some money and wish to invest into BNB, i understand the comments will not be financial advise, but should I invest into BNB still? submitted by /u/SKZ191 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
So I've decided to move completely away from defi and stake all my bnb on the main Binance chain. Which validator would you recommend. Can I just simply stake and forget about it or do I need to be checking often? submitted by /u/ki...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin's defense of the $38,000 level and renewed interest from institutional investors could be a sign that the bull trend is resuming. Bitcoin (BTC) and most major...
Cryptocoins Exchanges / Binance - 2 years ago
Do you guys having problem sending bnb to another address? BSC too busy atm? Or it is only me? submitted by /u/emtskw2m [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
I personally forgot about it and kept using BSC network instead, stacking BNB on DeFi, for up to 8%. If you're into DeFi, you might have been blinded too :) In your Binance wallet on Chrome (or Brave) you can pick the network at the top.. then:...