What is BNB coin?

BNB coin is the token issued by Binance from its ICO, with BNB as the symbol. BNB runs natively on the Ethereum blockchain and follows the ERC20 token standard.

What is BNB coin?

Binance Coin has steadily positioned itself within the top 50 cryptocurrencies by market capitalization even reaching the top 20 at the highest point. Currently, the value of Binance Coin is $13.65.

What is BNB coin?

The token was established with a total supply of 200 million with the current circulating supply of 120 million. The remaining 80 Million has been stored safely by the company.
The BNB token itself has multiple forms of utility, essentially being the underlying gas that powers the binance Ecosystem. The current most prominent use case include using BNB are mentioned below
  1. Offers 50% discount when you pay Binance trading fees or any type of fees using BNB token.
    • The discount decreases year on year in line with the 20% bought back each year
    • Year 1 – 50% fee discount
    • Year 2 – 25% fee discount
    • Year 3 – 12.5% fee discount
    • Year 4 – 6.75% fee discount
    • Year 5 – 0% fee discount
  2. You can Invest in ICO projects on the Binance Launchpad and pay for service and advertising fees on the Binance info platform, with many more to come
  3. BNB can be traded on Binance for other coins
  4. BNB coin will soon become an essential coin of the decentralized Binance system.
As per thier Whitepaper, Binance plans to use 20% of their profits each quarter to buyback and burn BNB until 50% of the total BNB supply(100 million) is burned. They expect this initiative to provide steady value accretion for their investments overtime.

In the future, Binance aims to build a decentralised exchange, and BNB will be used as one of the key base assets on the site as well as the gas that’s spent while executing contracts of the decentralised BNB exchange.

If you are eager to buy BNB coin and start trading, then Register now on Binance. If you are a beginner, learn How to use Binance to buy/sell or trade altcoins?

Have you bought BNB Coins? How much? Do let us know in the comments!
What is BNB coin? What is BNB coin? Reviewed by StalkOwl on January 22, 2018 Rating: 5

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