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 - 2 years ago
After days of consolidation near the local high, Bitcoin is trying to breakout and challenge the $30,000 level. Bitcoin’s (BTC) tight consolidation near its local top...
Bitcoin News / Bitcoin.com - 2 years ago
PRESS RELEASE. The Build N Build (BNB) Chain is a decentralized blockchain network that allows developers and innovators to build decentralized applications (DApps) as part of the transition to Web3.
The BNB Chain is capable of high-speed...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin’s failure to clear the overhead resistance at $30,000 is attracting profit-booking in select altcoins. Bitcoin (BTC) has been trading below $29,000 for the pas...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin continues to face resistance near $29,000 and Ether has decided to take charge of the wider crypto markets' bullish momentum. Bitcoin (BTC) remains pinned belo...
Bitcoin News / Bitcoinist - 2 years ago
The BNB Smart Chain mainnet, which is a blockchain network that supports decentralized applications (dApps) and smart contracts, has announced a scheduled hard fork upgrade named “Planck”.
According to the announcement, this hard fork upgrade is to...
Cryptocoins News / Blockchain - 2 years ago
According to a report by blockchain security firm Immunefi, BNB Chain saw 73.3% of all rug pull scams in the crypto ecosystem during Q1 2023. The report also revealed that BNB Chain and Ethereum were the two largest targets for hackers and scammers,...
More / Etherum Reddit - 2 years ago
I've been attempting to do a direct swap between BNB on the BSC and ETH on mainnet and I cannot find a way to do it without an intermediate token swap. Can someone please enlighten me how to do this? submitted by /u/Sporesword [li...
Cryptocoins News / CoinJournal - 2 years ago
California, USA, April 4th, 2023, Chainwire
Network, the only multichain layer-2 blockchain scaling solution and the only smart contract platform that enables Web3-Web2 interoperability, announces that ROVI Network, a Web3 powerhouse building infrast...
Cryptocoins News / The Cointelegraph - 2 years ago
Rug pulls and other frauds made up a small percentage of losses compared to hacks and exploits, the report stated. BNB Chain was the king of rug pulls in the first qua...
Cryptocoins News / EthereumWorldNews - 2 years ago
Summary:
Aave-Chan creator Marc Zeller proposed launching the Aave V3 lending protocol on BNB Chain.Zeller suggested deploying on Binance’s DeFi chain with a basket of digital assets as supported collateral including BNB, WBTC, BETH, WETH, USDC,...
Cryptocoins News / The Cointelegraph - 2 years ago
Macroeconomic headwinds continue to pressure the crypto market, but bulls appear steadfast on holding $28,000 for support, and this could provide tailwinds for altcoins....
Bitcoin News / Bitcoin.com - 2 years ago
On Monday, April 3, the decentralized exchange (dex) platform Pancakeswap launched version 3 of its protocol (v3) on the Binance Coin (bnb) and Ethereum blockchains. The new application aims to improve the performance of the dex protocol and reduce f...
Bitcoin News / Google News Bitcoin - 2 years ago
Bitcoin And Crypto Are Suddenly Braced For A $1 Billion U.S. Earthquake After Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon And Solana Price Surge& & Forbes
Cryptocoins News / The Cointelegraph - 2 years ago
Signs of easing inflation could push Bitcoin and select altcoins above their respective overhead resistance levels in the short term. Data from the Personal Consumpti...
Cryptocoins News / The Cointelegraph - 2 years ago
Bitcoin and select altcoins are close to breaking out of their overhead resistance levels, indicating that bulls remain in control of the crypto market. Bitcoin (BTC)...
by COINS NEWS - 2 years ago
Hi there! So I have around 100 moons just sitting around, and was wondering what the best way to convert them into a major crypto coin is? I read some posts from awhile ago that I found while googling, but I am unsure if those are still the best meth...