Binance Coin (BNB) is a cryptocurrency that has its own blockchain and used mostly inside of Binance platform. Binance cryptocurrency exchange has been using BNB token‘s since the inception of ICO’s and offers lots of advantages such as discounts for their customers.
Binance has reached billion dollars of trade volume and became one of the biggest cryptocurrency exchanges. As Binance gets more and more popular every day, BNB Coin is among the things that made Binance that successful.
Created by Binance, Binance Coin offers %50 fee discount in the first, %25 in the second, %12,5 in the third and %6,75 in the fourth year. In this way, Binance users are incentivized to use BNB. In Binance, you can buy dozens of cryptocurrencies with BNB trading pairs. Nowadays, you can also buy fiat currencies with BNB, too. Moreover, you can use nearly all of the functions that Binance offers and join IEO offerings with BNB.
How Does BNB Coin Work?
According to Binance Coin white paper, the cryptocurrency exchange buys back BNB tokens with its quarterly revenue’s %20 share. These tokens then sent unknown addresses for the token burn process. Binance will continue token burns until there are only 100 million tokens left. Besides, Binance’s decentralized exchange Binance DEX also uses BNB for its transactions.
At first total supply of BNB fixed at 200 million. Half of the tokens sold at Binance ICO, %40 of them are in the hands of Binance and %10 of them are in the hands of angel investors. Bitcoin.com CEO Roger Ver was among the famous investors that have bought BNB.
How can I purchase Binance Coin (BNB)?
You can easily buy BNB tokens from Binance or any other big cryptocurrency exchanges.
