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 β - 1 year ago
Bitcoin has risen above $38,000, clearing the path for a rally higher. Will altcoins follow? Bitcoin (BTC) broke above the overhead resistance of $38,000 on Nov. 24, i...
Cryptocoins News / CoinJournal - 1 year ago
DUBAI, UAE, November 24th, 2023, Chainwire
Binance Labs, in partnership with BNB Chain and CMC Labs, has introduced a new Founder Track to the Most Valuable Builder (MVB) Accelerator Program. MVB, now in its 7th season, is an accelerator program join...
Cryptocoins News / The Cointelegraph β - 1 year ago
The sharp rebound in Bitcoin and select altcoins suggests that bulls remain in charge and continue to buy at lower levels. Traders hate uncertainty; hence, the settlem...
Bitcoin News / Google News Bitcoin - 1 year ago
Serious Crypto Warning Issued As Binance Collapse βCountdownβ Suddenly BeginsβBNB Leads Bitcoin, Ethereum And XRP Price Lower& & Forbes
Bitcoin News / Bitcoinist - 1 year ago
On Tuesday, November 21, the BNB price faced adverse headwinds following the announcement that Changpeng Zhao, the founder Binance crypto exchange, was stepping down from his role as CEO. This move triggered a crash in the price of BNB, the native to...
Cryptocoins News / The Cointelegraph β - 1 year ago
The BNB token defied Nov. 21βs wider market downturn with a high-volume rally, which saw its price hit a five-month high at $271.90. BNBβs (BNB) price broke out to a f...
Cryptocoins News / The Cointelegraph β - 1 year ago
BNB hit its highest price since June after Bloomberg reported the U.S. Justice Department wanted $4 billion from Binance to end its probe into the exchange. BNB (BNB)...
Cryptocoins News / The Cointelegraph β - 1 year ago
The weakness in the U.S. Dollar Index suggests that risky assets such as Bitcoin and the S&P 500 Index may remain in favor of the buyers. The S&P 500 Index (SP...
by COINS NEWS - 1 year ago
How safe is BNB Smart chain? So I'm going to buy a Ledger and I'm wondering, it is a safe bet to transfer all my crypto over (that are supported) via the BNB Smart Chain? Or am I defeating the purpose of a hardware wallet by using the chain t...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and select altcoins are showing strength, a possible sign that the bull trend has resumed. Bitcoin (BTC) succumbed to profit-booking on Nov. 13 and 14, which p...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin opened the week with a shallow correction, but altcoin traders seem unaffected by the slight BTC price pullback. Bitcoin (BTC) has risen more than 120% year-to...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin and Ether are leading the cryptocurrency markets from the front, but the risk of a short-term pullback remains. News of BlackRock registering the iShares Ether...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin traders want to convert the $36,000 level to support, but will failure to do this kick off a market-wide correction? Bitcoinβs (BTC) rally stalled near $36,000...
Bitcoin News / Bitcoin.com - 1 year ago
The financial losses stemming from security incidents on the BNB Smart Chain in Q3 2023 were 27% lower than in Q3 2022. When compared to security incidents on other chains, rug pulls, price and reserve manipulation events on BSC accounted for &#x...
Cryptocoins News / The Cointelegraph β - 1 year ago
Security firm HashDit says the lower amount lost to scams on BSC could be due to an uptrend in security products addressing the threat. Scams facilitated on BNB Smart...
Cryptocoins News / The Cointelegraph β - 1 year ago
Bitcoin price is consolidating near $35,000. Will altcoins capitalize on the sideways price action and move higher? Bitcoinβs (BTC) marginal rise of about 1.5% last w...
Cryptocoins News / CoinJournal - 1 year ago
Hey, crypto enthusiasts! We all know the festive season brings surprises, but this one is off the charts. The crypto world is buzzing about& Borroe Finance ($ROE), and word on the street is, it might just overshadow giants like XRP and BNB.
Let&r...
Cryptocoins News / CoinJournal - 1 year ago
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