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 Burn History Table

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

BNB coin price prediction!!!

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

Is there a BNB Whitepaper?

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

BNB staking validators

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...