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 Disappeared from account

Hello, I'm being doing some "Convert Small Balance to BNB": https://i.imgur.com/S3WXZCx.png However, every time I did that conversion, BNB started to disappear, now I have 0.000012 BNB after the last convertion. I don't use BNB for...

Cryptocoins Exchanges / Binance - 2 years ago

Can't widthdraw BNB

With Binance US. I widthdraw BNB to Trust Wallet and it gives me an SMS code. I enter the code and then it loads for a few seconds and then does nothing. I can't withdraw. submitted by /u/wtf98989898 [link] [comments]

Cryptocoins Exchanges / Binance - 2 years ago

Staking BNB

I am new to staking and I don't think I fully understand it. I see APY of 13%+ on Stakingrewards and 8% on others. I have a big bag (and I'm in the US) and just not sure where the best place to stake is and how to do it. ​ Thanks for...

Cryptocoins Exchanges / Binance - 2 years ago

Shorts on BNB

I do t know about anyone else but since Binance.US is making it impossible to get my money back. I’m going short on their bitch ass coin. ???????? submitted by /u/Economicstimulation [link] [comments]

Cryptocoins Exchanges / Binance - 2 years ago

Is BNB slowly dying ?

Day after day, BNB / ETH and BNB / BTC keeps falling to dust, why is it not recovering as well as the two major coins like it used to do after the first crash ? submitted by /u/Teva_Macadamia [link] [comments]

Cryptocoins Exchanges / Binance - 2 years ago

Autostake BNB but leave small amounts?

When autostaking BNB, is it possible, to leave some BNB in the spot wallet to pay trade fees? Ideally, I'd want to have it autostake, but leave 0.05 BNB in the spot wallet, so that I don't need to withdraw in advance from staking just to get...

Cryptocoins Exchanges / Binance - 2 years ago

What are the risks of BNB stacking?

I read this article: https://academy.binance.com/en/articles/what-is-staking and it ends up with: It’s worth keeping in mind, though, that staking isn’t entirely without risk. Locking up funds in a smart contract is prone to bugs But never expands...