- Binance Coin
In 2017 Binance exchange introduced its particular coin to the market. It is the Binance coin cryptocurrency, and the symbol is BNB. Binance mined this currency only in a limited number and is supposed to continue mining until a certain time. After that, all coins will be traded among people. The main reason that Binance produced such a currency was to develop itself and introduce itself to the users more.
Best Wallets for Binance CoinsKeeping Binance Coin in the following wallets, ensures your security.
Best Exchanges to Trade Binance CoinBuy & sell Binance Coin in the best online exchanges to stay safe and up to date.
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cryptocurrrencies similar to Binance Coin
Know more about Binance Coin
Binance coin is the cryptocurrency of Binance exchange, introduced to the market in 2016 to develop their business. Binance plans to provide users with at least 200 million of this digital currency. The symbol is BNB.
In 2016, Binance introduced Binance-coin through an ICO (initial currency offering). In that year, each Ethereum was equivalent to 2,700 Binance-coin, and the value was 20,000 for Bitcoin. It's better to know that all BNBs were made before. Initially, this digital currency was based on the Ethereum blockchain system. But gradually, Binance launched its blockchain and based Binance-coin on it.
Since they require to produce a total of 200 million BNB, presented it through ICO, and Binance control it itself, nobody can extract Binance coin.
Digital currency companies usually buy and burn several currencies within a certain period to control their volume. So Binance does Binance coin burn too sometimes.
Binance coin features
Due to the popularity of Binance exchange and BNB, you can buy or sell BNB in all available exchanges. Any transaction at Binance exchange has a fee, just like any other exchange, but if you pay this fee in BNB, you will receive a 25% discount in Binance.
Does BNB worth investing?
Since BNB depends on Binance exchange, the more the cryptocurrency market develops, the more vital Binance exchange becomes, the more expensive Binance coin will be.
But be careful because foreign and domestic news will affect BNB value. For example, if the report goes under the heading of hacking the Binance exchange, the price of Binance Coin will drop sharply.
Suitable wallets for Binance coin
Due to the popularity of the Binance coin cryptocurrency, most wallets support this currency: hardware, software, and web wallets.