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Binance Coin is the cryptocurrency of the platform Binance . It is an exclusive trading platform for cryptocurrencies. The name “Binance” is a combination of binary and finance.
Therefore, the startup name shows that you can only exchange cryptographic money with each other. It is not possible to exchange cryptocurrencies for Fiat. The platform has been very successful in a very short time and is focusing on the Malta-based world market. The cryptocurrency currently has a daily trading volume of $ 1.5 billion to $ 2 billion and continues to rise.
In total, there will only be 200 million BNB. Binance uses ERC20 token standard of Ethereum and distributed it as follows: 50% sold in ICO, 40% to equipment and 0. The piece can be used to pay fees at the crossing. These include business costs, transaction fees, quote rates, and others. Binance offers you a great discount when rates are paid on BNB
The scale of discounts on BNB costs is as follows: during the first year, 50% reduction in all costs, second year 25% reduction, third year 12.5% reduction, fourth year 6.75% reduction, and from the fifth year there is no discount. This structure is used to encourage users to buy BNB and transact within Binance.
Binance announced in a purchase plan that it would buy up to 100 million BNB at T1 2018. The parts burn. This means that they are devalued to increase the value of the remaining parts. This benefits investors. In the future, the cryptocurrency will continue to be an asset on the trading platform and will be used as gas.
Other tokens issued by exchanges include Bibox Token , OKB .
Binance Coin PRICE (bnb) (dollars)