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 - 3 years ago
Hopes of a BTC ETF approval sent Bitcoin charging toward a new all-time high and several altcoins are also breaking out of bullish setups. Bitcoin (BTC) rose within...
Cryptocoins Exchanges / Binance - 3 years ago
I did some trading on Binance about 5 years ago and then forgot about it. I guess the laws have changed since then, and I was told after logging in I need to move my coins to Binance US but it isn’t available in Texas. How can I withdraw my coins wit...
Cryptocoins Exchanges / Binance - 3 years ago
Been delegating BNB for a while, but suddenly wanted to ask the question. Does BNB staking reward come from inflation or the transaction fee or both? submitted by /u/AntiGravitySystem [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
I was wondering I wanted to use pancake swap what’s easiest way to get bnb in Ontario , could I convert for Eth submitted by /u/mikph [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
I just sent XLM to my BSC wallet. I can see the transaction history but I can't do anything else. I've tried adding custom asset to see if XLM pegged shows up but its at 0. Anyone else done this and can help me out? Or if not, anyone else do...
Cryptocoins Exchanges / Binance - 3 years ago
I am trying to deposit some BNB token from Binance exchange app to Trust wallet for the purpose of Smart Contract fees which needs to be paid in Smart Chain (BNB) only. But I am getting confused between these two tokens with similar name and logo. If...
by COINS NEWS - 3 years ago
Binance is the biggest exchange and it holds most of the crypto in the world - that's bad, mmmkay? But not only theyre biggest exchange but they also launched their own blockchain - and that blockchain is SUPER CENTRALIZED There are only 21 nodes...
Cryptocoins News / The Cointelegraph - 3 years ago
Bitcoin remains strong above its recent breakout level, but several major altcoins will be under pressure until BTC reveals its next move. Bitcoin (BTC) has been susta...
Cryptocoins News / The Cointelegraph - 3 years ago
BNB price gets a boost as Binance launches a $1 billion blockchain fund. The ongoing price boom in the Binance Coin (BNB) market is painting a classic bullish chart pa...
Cryptocoins News / CoinJournal - 3 years ago
The Binance token is currently trading at $444 and the coin is up by 7% in the past 24 hours. The BNB token could rise by another 5-10% if the bulls decide to start another rally. The token could rally further if the whales can push prices further on...
Cryptocoins Exchanges / Binance - 3 years ago
https://preview.redd.it/vb0r38agi6t71.png?width=819&format=png&auto=webp&s=474684a356e52819ff89cc1d966b0dede2e81944 submitted by /u/Anndylian [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
As stated, not sure. Trust wallet charge me £10 for a £360 payment. submitted by /u/jordanlndn [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
Im fully new game of crypto and have few questions. I been buying some crypto weekly (auto pay) like I do with ETFs/mutual funds. I haven't really look at the prices till last week since Im long term investor. Found some irregular quote pri...
Cryptocoins News / The Cointelegraph - 3 years ago
Analysts say Bitcoin has started its journey toward a new all-time high and the sideways action from altcoins suggests traders are shifting funds into BTC. Bitcoin (BT...
Cryptocoins Exchanges / Binance - 3 years ago
I moved my BNB to my margin account by accident, but for the life of me can’t move it out. What am I missing here? submitted by /u/Wifikiller2 [link] [comments]
Cryptocoins Exchanges / Binance - 3 years ago
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