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 Exchanges / Binance - 2 years ago
We're currently in the BETA stage of a chat bot that provides insights to over 5000 different coins including BNB. Its aim is to alert users when certain coins are on the rise. The system doesnβt utilize historical data or conventional data sour...
Cryptocoins Exchanges / Binance - 2 years ago
so when I try ...binance shows bep2 or bep20 (BSc) ...I assume I should use bep2 but celsius doesn't offer the memo field which binance says it's required ...or would bep20 work ? or do I need to transfer celsius to , say, trust wallet using...
Cryptocoins News / The Cointelegraph β - 2 years ago
Bitcoin and most major altcoins are near critical overhead resistance levels, suggesting that the downtrend is very close to ending. Bitcoin (BTC) has staged a smart r...
Cryptocoins Exchanges / Binance - 2 years ago
I was in a hurry and withdrew bnb to the contract address of a token that my friend has deployed. Is there any way of recovering the 1.5bnb? submitted by /u/instinctiveanxiety [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Hey, I'd like to have an unbiased opinion on whether or not its a good idea to convert small assets you hold (for example tokens given liquidity providers) into BNB. Outside of using BNB as a substitute for transaction fees on the platform, what...
Cryptocoins Exchanges / Binance - 2 years ago
Its quite annoying that there is no option to stake BNB on binance smart chain using a hardware wallet. The Binance.org staking page does not have a ledger /hw wallet connector, it only connects with Binance Chain wallet chrome plugin, but there is n...
Cryptocoins Exchanges / Binance - 2 years ago
Im running into a problem in that yesterday i bridged some ETH to BSC to swap it to BNB, which i then swapped into another token. im now trying to swap that token back into bnb but dont have enough to cover that transaction in BNB apparently. Im in t...
Cryptocoins Exchanges / Binance - 2 years ago
Is there anywhere that you can borrow BNB against your collateral? I saw a post from 2020 saying Binance offer this, but then I look the option isn't listed any more. submitted by /u/randomducker [link] [comments]
Cryptocoins News / The Cointelegraph β - 2 years ago
FTX wallets now actively support withdrawals for BUSD and BNB, both native to the Binance Chain, and will soon enable users to make deposits via BSC BEP-20 tokens. In...
Cryptocoins Exchanges / Binance - 2 years ago
Does the amount being staked on Binance count towards VIP? Does the amount on the linked Binance Chain wallet count? Or is it only counted if it's sitting on Binance on your dashboard wallet? submitted by /u/llCharisma [link] ...
Cryptocoins Exchanges / Binance - 2 years ago
does binance charge transaction fee to include the borrowed amount? or it does not because it already has interest? submitted by /u/YoghurtNo4390 [link] [comments]
Cryptocoins Exchanges / Binance - 2 years ago
Hi all,I'm sure this topic has been covered many times before, but revisiting this in the chance the community has found an easier or more efficient way of: Buying BNB, with end goal of swapping it for all the BSC shit coins that your heart desi...
Cryptocoins Exchanges / Binance - 2 years ago
https://www.cryptomaton.org/2021/07/31/an-algorithm-to-determine-what-the-highest-performing-cryptocurrency-assets-are/ submitted by /u/CyberPunkMetalHead [link] [comments]