What is Binance Coin (BNB)?
Binance Coin (BNB) is a cryptocurrency issued by the Binance cryptocurrency exchange. Binance Coin (BNB) was issued as an ERC-20-based cryptocurrency, but later Binance established its own chain and switched to a bep2-based infrastructure. Existing ERC20 tokens are burned and turned into BEP2 tokens.
Binance, one of the largest exchanges in the world by volume, also showed a significant increase in the volume of the Binance Coin (BnB) cryptocurrency and its value against Real Money in proportion to the volume of the stock market.
What is Binance Coin (BNB) price?
June 26 July – July 3, 2017 Binance Coin (BnB) was first launched with an ICO (Initial Coin Offering). A total of 100,000,000 BNB was released on debut. 1 BNB was worth about US $ 0.11 when it was first offered, and now its value in real money is much higher. If you want to follow the price instantly, you can look at our BnB Price page.
It reached its highest value since its release in 2019 at $ 38.87. Currently, the market volume is 2,154,530,527 US dollars. 9 with a market capitalization of the highest. cryptocurrency.
How does Binance Coin (BNB) work?
The market has a total of 155,536,713 BNB. Binance exchange buys Binance Coin (BNB) with 20% of its annual profit and burns the BNB coins it receives. This transaction will continue the remaining 100,000,000 BNB in the market. The aim of this transaction is to prevent inflation in the Binance Coin (BnB) market. Binance has changed its BNB receivables clause with 20% of its profit in the form of receivables with a portion of its profit with the latest whitepaper update.
It is possible to buy/sell cryptocurrencies between Binance Coin (BNB) and Binance exchange.
With Binance Coin (BNB), commission received on the Binance exchange can be paid. For payments made with Binance Coin (BNB), Binance provides a discount on commission rates of 50% in the first year, 25% in the second year, 12.5% in the third year and 6.75% in the fourth year. Levels are given according to the amount of BNB held by the user and the total volume made.
How is Binance Coin (BNB) mining done?
Binance Coin (BNB) is a type of non-mining cryptocurrency. All Binance coins (BNB) were produced by the Binance exchange on the first day, half of which were sold to the public.