BNB (BNB)

Binance Coin is the cryptocurrency used by the Binance platform. It is a platform for trading cryptocurrency. The term "Binance'' is derived from the words binary and finance. As a result, the startup's name implies that only cryptocurrencies can be exchanged against one another. It is not feasible to trade cryptocurrencies over fiat. The platform has achieved significant success in a short period of time and is concentrated on the global market, with its headquarters in Malta.

The cryptocurrency presently has a daily trading volume of 1.5 billion to 2 billion US dollars and is continually growing. There will be a maximum of 200 million BNB coins. Binance employs the Ethereum ERC20 token standard and has allocated it as follows: 50% sold on ICO, 40% to the team, and 10% to angel investors. The currency may be used to pay Binance fees. These comprise trading costs, transaction fees, listing fees, and others.

Binance offers a significant discount when fees are paid in BNB. The following is the discount plan for BNB fees: The first year offers a 50% reduction on all costs, the second year a 25% discount, the third year a 12.5% discount, the fourth year a 6.75% discount, and the fifth year offers no discount. This structure is meant to encourage users to purchase BNB and execute transactions on Binance.

To know more about the BNB coin price prediction, install the top cryptocurrency app CoinGabbar today!