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.
by COINS NEWS - 8 months ago
\Disclaimer: This post is for entertainment purposes only. The factors that determine crypto prices and market behaviour are too complex for any model to forecast accurately.* I know we've all probably wondered what would become of crypto if some...
Bitcoin News / Google News Bitcoin - 8 months ago
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Bitcoin News / Google News Bitcoin - 8 months ago
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Cryptocoins News / Blockchain - 8 months ago
Binance has completed a critical upgrade and hard fork for its BNB Smart Chain, allowing deposits and withdrawals to resume. The upgrade temporarily suspended transactions, signaling a return to normalcy for the platform. (Read More)
Bitcoin News / Bitcoin.com - 8 months ago
BNB surged this afternoon, as markets reacted to the news a court in the United States was siding with Grayscale in its case with the Securities and Exchange Commission (SEC). The court said the SEC was wrong to deny Grayscale permission to migrate i...
Cryptocoins News / The Cointelegraph - 8 months ago
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by COINS NEWS - 8 months ago
Good morning, I currently hold a large amount of BNB Pegged Tokens - Binance Peg BTC and Binance Peg Bitcoin Cash. I had these because I was exchanging through Pancake Swap and it was fast to move. I understand that it’s not as good as the actual c...
by COINS NEWS - 8 months ago
I am starting to notice and get a bit annoyed by all the posts lately, claiming market manipulation by binance. I would argue that most of the “evidence” is circumstantial at best and would not hold up. On top of that, there is plenty to suggest that...
Cryptocoins News / The Cointelegraph - 8 months ago
Bitcoin and altcoins lose more ground after comments from the Federal Reserve suggest that the regime of interest rate hikes could continue into 2024. Federal Reserve...
Bitcoin News / Bitcoin.com - 8 months ago
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Cryptocoins News / The Cointelegraph - 8 months ago
Bitcoin and altcoins perked up today, but is this rally nothing more than an oversold bounce? When the markets are trending, traders should be active if they want to...
Bitcoin News / Bitcoin.com - 8 months ago
BNB was one of Wednesday’s biggest movers, as the token rebounded from a recent one-year low. The price decline came as crypto exchange Binance came under scrutiny for allegedly assisting sanctioned Russian clients in moving funds abroad. Shib...
by COINS NEWS - 8 months ago
As you all likely remember back when FTX was crashing they were selling off crypto assets to try and hold the value of FTT. This was repeated endlessly until they could no longer afford to do so. This was especially hard on Alamedas cash Cow, S...
Bitcoin News / Bitcoinist - 8 months ago
Binance, one of the leading cryptocurrency exchanges, is once again in the spotlight for some intriguing reasons. Recent reports suggest that the platform might be engaged in selling Bitcoin to bolster the value of its native cryptocurrency, Binance...
Cryptocoins News / CoinJournal - 8 months ago
Binance Coin (BNB) price is traded to lows of $204 after breaking below $210 and $208.
Declines for BNB come amid strong headwinds around Binance.&
BNB could drop to lows of $180 nad lower if bulls give up $200 zone.
BNB price has broken below...
by COINS NEWS - 8 months ago
[Binance chief Changpen “CZ” Zhao] is in self-preservation mode selling BTC from the bc[…]77s3h wallet for TUSD and buying BNB to save his exchange chain from a fatal margin call. – US regulators are selling down the US Marshals holdings to for...
Bitcoin News / Google News Bitcoin - 8 months ago
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