Binance Coin is a cryptocurrency of the Binance platform in the sense that it is the trading system for cryptocurrencies. Binance issues its token coin which is called as BNB coin. A strict limit of 200MM BNB will be credited and it will never to be increased. In general, BNB will run natively on the Ethereum blockchain with ERC20. Through Binance official website, Binance ICO coin has been distributed.
BNB Value & Repurchasing Plan
You can pay any kind of fees through this BNB platform but not restricted to exchange fees, listing fees, withdraw fees, and any other fees. When you use a BNB in order to pay for fees, you can get discount rate with a significant amount including different discounts rates including 50%, 25%, 12.5%, 6.75%, and no discount for 1st year, 2nd year, 3rd year, 4th year, and 5th year respectively.
It will use 20% of profits when you buy back BNB and destory them until you purchase 50% of all purchases. However, all buy-back transactions will be processed on the blockchain technology. Eventually, it will destroy 100MM and leaving 100MM BNB remaining. It has established a decentralized exchange in which BNB will be used as one of the key base assets.
BNB must be distributed as follows including 50% of the coins are sold in an ICO, 40% will be go to team, and 10% to angel investors. The angel investors are purchasing a large number of coins at a time. BNB coin can be used to pay the fees on Binance Exchanges.
If you’re purchasing or selling coins on Binance exchange, you can easily purchase coins through BNB. When you doing this, you can find two benefits such as the trading fees are paid in BNB instead of the coin that you’re trading. The second benefit is you can only pay half the trading fee. Under repurchasing plan, the coins will be burned out after it would buy back up to 100M BNB. This is really beneficial for investors.
As already discussed above, it can be included the trading process of cryptocurrency pairs only. This trading platform not only exchanging Bitcoin, Bitcoin cash, and Ethereum but also it is used to trade QTUM coin, Iconomi, NEO coin, and other related 50 currencies. Most of the cryptocurrencies are traded in Asia. It recently launched the community coin per month campaign. Users of the platform can register and trade cryptocurrencies independently. It also provides a possibility to hold ICOs. At Binance, each transaction can cost a small fee that can be paid in BNB. The website can be translated in different languages and transactions from abroad while.
You can easily purchase coins directly for fiat on Binance exchange. You can select the best bitcoin exchange for your region and purchase BTC there. You can also trade it for BNB for Binance exchange. You can always check if coinbase is available for your country and purchase there. If your country is not available on coinbase, you can check for exchanges with coinbase alternatives and purchase BTC based on exchanges.