You must have heard of the crypto decentralized currency. That is the very exchange that has developed, created, and released the coin Binance BNB. When you trade, exchange, buy or sell it you will see the symbol “BNB” which will make you understand that you are dealing with Binance coins. And the most exciting part to note here is that the Binance Exchange is one of the largest and biggest exchanges in the world today. Its market value is fixed at $7.6 billion today.
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Overview of Binance- What You Need To Know About
To make sense of Binance you must understand the coin. It initially ran on the blockchain of Ethereum when it stamped its way into the market. But that has now become a native coin in the chain of Binance. Right in the beginning of July 2017, there were just 200 million tokens were launched.
Only 10% of these tokens were offered to angel investors. Angel investors are people who have high worth because of their wealth and they provide backing and support to new startups just like they offered to BNB. This is why they were given the 10% of the tokens from their total value.
Another 40% was given to the founding team and the remaining 50% to participants who got it through the ICO process. Half of the proceeds from this process were allocated for its marketing and developing goodwill purposes. Another one-third of it was used for upgrading the system. Today the coin is an entity of its own and the coin that ran on Ethereum’s blockchain has now become its native coin.
The Meteoric Rise Of Binance And Why It’s Taking The Crypto World By Storm
But it is said that Binance coins will give a fillip to the financial system because they support many uses such as trading fees, listing fees, exchange fees, and any similar sort of fees that exist. The cause of its immediate popularity and wide acceptance is now clear to everyone. It is helping them gather even more steam and momentum.
Burning Of Binance Coins
In a unique activity that Binance follows they regularly and systematically burn some of their tokens. In the ICO process where some tokens were offered to participants were burnt down to the tune of one-fifth of the total tokens. These coins were in their treasury and taken out to be burnt. This activity decreases their value yet they continue with it.
The Factors That You Must Analyze Before Investing In Binance
Before you could burn a hole in your pocket by investing in Binance you must consider a few factors so that your investment is a good one. These factors are:
- These coins can be utilized for investing in ICOs that are enlisted with the coins launch pad program.
- More new cryptocurrencies will be enlisted on the exchange of Binance which you can easily and conveniently deal with by using Binance coins.
- In a few years, it is estimated that Binance will become the main currency in the decentralized system of Binance exchange
- The Monaco VISA debit card supports Binance, its payment platform, and its mobile apps also.
All the same, if you want to make a safe trade then you can also use the Immediate Connect platform that will help you when you are a newcomer to this market.
Profit And Gain Reaped With BNB
Here are many benefits that are associated with BNB. They are as follows:
- You can save 25% on their spot trading facility
- You can also save 25% on their margin trading fees
- You can save 10% on Futures trading fees
- With their Binance Visa Card, you can use it on 60 million merchants across the globe
- With Binance Loan you can avail the benefit of taking various crypto loans
- Once you refer someone to their platform you get a commission of 405 which is huge
So, these were some benefits to be taken from Binance BNB. So if you are having some serious thoughts about making your mark in the crypto world you can try making it with Binance BNB. You might make it with things clicking well and you doing good.