$BNB $BNB About BNB

Binance Coin is the cryptocurrency of the Binance platform. It is an exclusive trading platform for cryptocurrencies. The name "Binance" is a combination of binary and finance. Therefore, the name of the startup indicates that only cryptocurrencies can be exchanged with each other. It is not possible to exchange cryptocurrencies for Fiat. The platform achieved enormous success in a very short time and focuses on the global market based in Malta. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and continues to rise. In total, there will only be 200 million BNB. Binance uses the ERC20 token standard of Ethereum and has distributed it as follows: 50% sold in 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 significant discount when fees are paid in BNB. The BNB fee discount schedule is as follows: 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 conduct transactions within Binance. Binance announced in a buyback plan that it would repurchase up to 100 million BNB in the first quarter of 2018. The coins are burned. This means they are devalued to increase the value of the remaining coins. This benefits investors.