Binance Coin (BNB) – Native Exchange Token
Binance is a fastest growing exchange with six million users and counting. It has the significant customer base form east and west parts of the globe.
The Cryptocurrency exchange has listed over 240 Cryptocurrencies and tokens, and currently tops the chart in terms of 24-hour trading volume. This is a massive growth for an exchange that started operations in July 2017.
An ICO went live in 2017. And the token name is Binance Coin, an ERC20 compliant token.
The supply cap is 200 million tokens out of which 40% are reserved for founding team, and the remaining tokens were sold to angel investors, and ICO participants.
If you use BNB token for paying various kinds of fees like trading, withdrawal fees, you will get discounts up to 50%.
There are a lot of currency pairs available with BNB token. So, it is also flexible for trading.
Binance has the plan to build a decentralized exchange, and BNB will be the base token for most of the transactions.
Buy Back Program
Every quarter the exchange platform will buy Binance coins with 20% of the profits. And the tokens will be burned till the total supply falls to 100 million tokens.
Because of this program, holding BNB tokens could benefit you in the long term.
And the exchange is planning to move out of China entirely to reduce heat with regulatory authorities.
Recently. Mr. Buffet said the frenzy going on with Cryptocurrencies would come to a bad end. Find more about that here.
Previously, the exchange has closed new user registrations due to massive demand. Now it again opened the registrations for a limited number of accounts.
Hurry up! And gain access to the ever-growing exchange.