About Binance Coin
Overview of Binance Coin
Binance Coin (BNB) is the most popular and successful exchange token in the entire industry now. BNB is its own token of the largest cryptocurrency exchange Binance, with its help the trading commissions of the site can be paid.
Token Format
Originally, BNB was an ERC-20 format token and worked on the Ethereum decentralized blockchain, but the developers moved to their own network - Binance Chain in April 2019.
Emission and the fight against inflation
The total issue of Binance Coin is 200 million units and this amount will never increase. Besides, the decentralized coin`s creators allocate 20% of the profit for the purchase and destruction of BNB at the end of each quarter. The developers plan to “burn” 100 million BNB, which is 50% of the total emissions of Binance Coin over time. Less than 10 million coins were burned over nine quarters, so the company still has a lot of work to do.
Binance Coin Functions
- Binance Coin coins are investment assets;
- bnb can be used to reduce trading fees on the Binance exchange;
- the coin can be used to pay for various goods and services at the sites that accept Binance Coin.
The discount on the payment of trade fees on the Binance exchange will work only for four years, and its size will decrease every year:
- 1st year - 50%;
- 2nd year - 25%;
- 3rd year - 12.5%;
- 4th year - 6.75%;
- discounts on trade fees will no longer be valid in 2022, accordingly.
Rate Dynamics of Binance Coin
The price of this decentralized asset shows a very positive trend, the Binance Coin rate has grown significantly since the ICO. You can always see the current price of BNB tokens on the Neironix site. All information is presented in a convenient form, the Neironix.io website displays the coin price statistics for the entire history, that is, starting with the ICO. You can see the price change of the Binance Coin cryptocurrency per day, week, month, etc in just one click.