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-6.83% Litecoin (LTC) 78.97 EUR
-4.63% B-Cash (BCH) 228.01 EUR
+3.91% Ethereum (ETH) 0.0769418 BTC
-2.40% Litecoin (LTC) 0.00262701 BTC
-0.26% B-Cash (BCH) 0.0075851 BTC
-4.55% Bitcoin (BTC) 32060.0361 USDC
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+0.49% Chainlink (LINK) 0.00028771 BTC
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+1.10% Dogecoin (DOGE) 0.00000366 BTC
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+6.25% Tron (TRX) 0.00000255 BTC
+2.06% Shiba Inu (SHIB) 0.00001662 EUR
-3.12% Binance Coin (BNB) 312.19 EUR
+1.35% Binance Coin (BNB) 0.01036866 BTC
0.00% Binance USD (BUSD) 0.95 EUR
-4.35% Bitcoin (BTC) 32051.2289 BUSD
-6.39% Zcash (ZEC) 95.89 EUR
-2.17% Zcash (ZEC) 0.0032017 BTC
+2.07% Basic Attention Token (BAT) 0.00001577 BTC

Binance Coin (BNB)

What is Binance Coin?

 

There is hardly anyone interested in the world of cryptocurrency who hasn’t heard of Binance – the world’s largest crypto exchange as of 2018.

The exchange keeps on servicing its customers providing buying, selling, trading, and storing options. Since improvement is always a must in the crypto world, now we are witnessing the next step in Binance’s development – the creation of a new cryptocurrency called Binance Coin.

Binance Coin (BNB) is a crypto token that took off as the representative currency of the exchange, but, as of today, serves as any other crypto in the market. It can be easily used to buy Bitcoin, Ethereum, Litecoin, or any other altcoins. Of course, since it’s been initially connected closely with Binance, the Binance customers benefit from big discounts using the token. BNB has been created in 2017 – at first, it used the Ethereum Blockchain, but shortly after has successfully transferred to the Binance native one – the Binance Chain.

 

How does Binance Coin work?

 

The creators of the Binance Coin launched their crypto using the Initial Coin Offering (ICO) by distributing millions of coins to various groups of participants. Half of the overall circulation has been distributed to the public. Binance has since used the collected amount of money for exchange improvement purposes, as well as stashing a reserve for emergencies and various circumstances.

It’s a well-known fact that one of crypto’s most cherished characteristics is its scarcity which ensures its ever-growing value. The Binance Coin is no different – its infamous burning serves its purpose by Binance buying back a certain amount of coins quarterly thus ensuring that the cryptocurrency shall remain finite and its value – high.

 

Benefits of Binance Coin

 

It’s safe to say that customers in possession of BNB face plenty of pros:

  • You can use BNB for trading in various exchanges, as well as for buying different types of cryptocurrency;
  • Binance’s customers use big discounts;
  • Where stated, customers can use BNB for buying and paying for various goods and services in tourism, entertainment, etc.;
  • Customers can use BNB for investment purposes on several investing platforms;

 

How to buy BNB?

 

  1. Create an account.
  2. Verify your identity.
  3. Fund your account and start trading Binance’s BNB on X1.

 

What to do after buying BNB?

 

  • Store/Hold BNB

You can safely store your BNB in your account or your crypto wallet. If you seek to make a major investment in BNB a hardware wallet is the best option for storing.

  • Trade BNB

You can trade BNB for other cryptocurrencies.

  • Send BNB

You can send it to anyone and anywhere.

 

 

Risk Warning: Cryptocurrency trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Coinsbay, otherwise seek independent advice if necessary. Crypto, CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing the entirety of your initial investment). You must assess and consider them carefully before making any decision about using our products or services.

The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. It is not targeted at the general public of any specific country and is not intended for distribution to residents in any jurisdiction where that distribution would be unlawful or contravene regulatory requirements.