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.
by COINS NEWS - 1 year ago
Before we start: Don't take my word for it. Look at the charts yourself. Assumptions For a moment. Let's pretend Binance is a healthy CEX engaging solely in best practices when it comes to the handling of customer funds, fair conditions for...
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin is consolidating at the top of its range and this is inspiring traders' confidence in a variety of altcoins. United States 10-year Treasury yields soared above...
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin and select altcoins are looking strong at the start of October, but will the flashpan bullish momentum last? The United States legislators in the House and Sen...
Cryptocoins News / The Cointelegraph - 1 year ago
Crypto bulls are attempting a comeback. Here are the altcoins that traders are keeping an eye on. Bitcoin (BTC) is attempting to trade above $27,000 in a positive sign...
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin, and even some altcoins are holding steady even as the US dollar index steamrolls to a near 1-year high. Bitcoin (BTC) managed to stay above the $26,000 level...
Bitcoin News / Bitcoin.com - 1 year ago
Bitcoin cash rose by as much as 5% on Tuesday, as bulls extended recent gains following last week’s consolidation. The token rose for a second consecutive session, moving closer to a resistance level of $225 in the process. BNB also climbed, p...
Cryptocoins News / The Cointelegraph - 1 year ago
According to BNB Smart Chain, MetaMask was averaging recommended fees from multiple networks, causing opBNB recommended fees to be too high. A “glitch” in MetaMask tha...
Cryptocoins News / The Cointelegraph - 1 year ago
The strength in the U.S. Dollar Index could keep Bitcoin and select altcoins under pressure in the near term. Bitcoin’s (BTC) weakness on Sept. 24 shows that the bears...
Cryptocoins News / Blockchain - 1 year ago
BNB Chain and MetaMask have successfully addressed a glitch that led to the display of inflated gas fees for opBNB transactions. The issue was rooted in MetaMask's default algorithm, which set a minimum recommended gas price based on averages across...
Bitcoin News / Google News Bitcoin - 1 year ago
Shock Crypto Leak Reveals Microsoft Could Be About To Blow Up The Price Of Bitcoin, Ethereum, XRP And BNB& & Forbes
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin and the major altcoins are down from their weekly highs, but the bulls are trying to form a higher bottom, indicating buying on dips. The Federal Reserve did n...
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin and other cryptocurrencies are likely to witness a pick up in volatility following the Fed’s rate decision on Sept. 20. Bitcoin’s (BTC) recovery is facing sell...
Cryptocoins News / CoinJournal - 1 year ago
As investors seek the next big crypto breakthrough, three contenders have emerged: Domini.art, NEAR Protocol,& and& Binance’s $BNB. Each presents a unique value proposition, from bridging the gap between art and finance to revolutionizi...
Cryptocoins News / The Cointelegraph - 1 year ago
Bitcoin and select altcoins are attempting to make a comeback as traders expect the Fed to hold rates steady during its meeting this week. The failure of the bears to...
Bitcoin News / Google News Bitcoin - 1 year ago
‘Mind-Bogglingly Massive’—Crypto Suddenly Braced For A Fed Shock That Could Actually Pump The Price Of Bitcoin Ethereum, BNB And XRP& & Forbes