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 chain doubts

When for instance, Binance decides to pause or put it's network 'BNB Chain' underneath maintenance (Like on this case), it exhibits that despite the fact that it's decentralized, it still depends upon a government. I mean, It ought to...

Cryptocoins Exchanges / Binance - 2 years ago

$BNB To Moon Soon

We might be right here to remind all of the idiots posting Binance FUD with 0 proof. Also to remind all those who bought $BNB immediately on account of nonsense. When @Binance continues to develop and unfold adoption and $BNB breaks $1,000+ & the...

Cryptocoins Exchanges / Binance - 2 years ago

BNB Average Balance question

I don't know what's occurring, but my BNB average is decreasing without doing something in any respect. The final month I had 1.6 and now 1.58... Is this occurring in any of you? submitted by /u/LuisMJ [link] [comments]