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 / Finance Magnates - 7 months ago
While Bitcoin struggles to push past the $100k mark, BNB,
a cryptocurrency associated with Binance, is among the top-performing altcoins in the past 24 hours. The cryptocurrency surged 23% to trade at a new all-time high of $793, at some point surpas...
Cryptocoins News / Blockchain - 7 months ago
Binance Square introduces a 'Write to Earn' campaign, allowing creators to earn daily BNB rewards and up to 30% commission. The campaign runs from December 3 to December 9, 2024. (Read More)
Cryptocoins News / Blockchain - 7 months ago
Binance has launched a new campaign on its Square Task Center, offering users a share of $30,000 in BNB rewards by completing daily tasks. (Read More)
Cryptocoins News / Blockchain - 7 months ago
Explore how BNB Chain is revolutionizing the gaming industry by integrating AI and Web3 technologies, enhancing player experiences and economic dynamics within virtual worlds. (Read More)
Cryptocoins News / Blockchain - 7 months ago
Binance introduces Thena (THE) as the latest project on its Airdrops Portal, offering rewards to BNB holders. THE will be listed with multiple trading pairs on November 27, 2024. (Read More)
Cryptocoins News / Blockchain - 7 months ago
Binance is set to launch BNBUSDT and SOLUSDT monthly options on November 26, 2024, expanding its European-style options offerings. (Read More)
Bitcoin News / Google News Bitcoin - 7 months ago
Analyst Says BNB Could Explode by Over 160%, Updates Outlook on Bitcoin, Shiba Inu and Polkadot& & The Daily Hodl
Cryptocoins News / Blockchain - 7 months ago
BNB Chain introduces BC Fusion, merging BNB Beacon Chain and BNB Smart Chain. Explore how bnbburn.info continues to track BNB burns and its impact on circulating supply. (Read More)
Cryptocoins News / Blockchain - 7 months ago
Binance announces a zero-fee trading promotion for ADA/JPY, DOGE/JPY, and XRP/JPY pairs, starting November 15, 2024. The initiative aims to enhance trading activity with Japanese yen pairs. (Read More)
Cryptocoins News / Blockchain - 7 months ago
BNB Chain invites participation in voting for the BIA winner at DevCon in Bangkok, offering a $1,000 BNB reward. Join the live session and cast your vote to influence blockchain innovation. (Read More)
Cryptocoins News / Blockchain - 7 months ago
The BNB Hackathon in Bangkok concluded with innovative blockchain solutions, awarding top projects like opMatch and BNB Defi Aggregator. A prize pool of $230,000 was shared among participants. (Read More)
Cryptocoins News / Blockchain - 7 months ago
BNB Chain is set to host a series of engaging events at DevCon 2024 in Bangkok, including hackathons, incubation programs, and community activities, fostering innovation in the Web3 space. (Read More)
Cryptocoins News / Blockchain - 7 months ago
BNB Chain's Most Valuable Builder (MVB) program partners with Google Cloud, enhancing support for Web3 projects with substantial cloud credits to boost decentralized application development. (Read More)
Bitcoin News / Bitcoinist - 7 months ago
Selecting the right crypto investment could be transformative, and coins like Shiba Inu (SHIB), Binance Coin (BNB), and Rollblock (RLBK) promise different upside potential. While BNB and Shiba Inu are the favorites of investors searching for explosiv...
Bitcoin News / Google News Bitcoin - 7 months ago
Bitcoin Continues Its Ascent To $100,000 Amid Ethereum, Solana, Dogecoin, Shiba Inu, BNB, XRP, Avalanche Rebound& & Forbes
Cryptocoins News / The Cointelegraph β - 7 months ago
Bitcoin picked up momentum and soared above $84,500, pulling several altcoins higher. Bitcoin (BTC) has been on a roll and sho...
Cryptocoins News / Blockchain - 7 months ago
BNB Chain's MVB Season 8 Demo Day highlights promising Web3 projects, featuring sessions from top innovators. The event offers networking opportunities and insights into future blockchain trends. (Read More)
Cryptocoins News / Blockchain - 7 months ago
Multipli, a ZK-based yield protocol, wins the BNB Incubation Alliance at Binance Blockchain Week Dubai, securing a spot in the MVB program and access to BNB Chain's LaaS package. (Read More)
Cryptocoins News / Blockchain - 7 months ago
BNB Chain's participation in Binance Blockchain Week Dubai 2024 highlights its strategic initiatives to empower Web3 innovation, including the BNB Incubation Alliance and Most Valuable Builder program. (Read More)
Bitcoin News / Bitcoin.com - 7 months ago
In October, Solana outperformed Ethereum in several key metrics. The token surpassed Ethereum in market share for decentralized exchanges, economic value, and liquidity inflows. Additionally, SOL demonstrated strong price performance, reaching over $...