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Binance Coin: What is it and how does it work?

Nothing to do with the rest of the cryptocurrency sector, which despite the most recent recovery has struggled to get closer to the historical highs of that lucky period.

The impressive run of the listing of Binance Coin, the cryptocurrency that took its name from the famous and eponymous exchange, has already led many experts to remember with nostalgia the rally scored by the Bitcoin price. On the similarity between the two virtual currencies also Weiss Ratings, who assigned Binance the same judgment as illustrious rivals such as BTC, Ripple and EOS.

Binance Coin's success has grown dramatically in the last few months of 2019. Over time, the cryptocurrency used to pay trading fees has become the preferred medium of exchange for ICO issuers.

Binance Coin listing from the beginning of the year to today

(November 2019)

What makes BNB particularly attractive is the company's practice of tying the exchange's performance to the amount of tokens in circulation. After the July 2017 ICO (with which 200 million coins were issued), the company said it was ready to spend 20% of its profits every quarter to buy back and destroy Binance Coin, a company that could continue for the next 10 years according to Zhao Changpeng, co-founder