![]() ![]() What Is BNB?īNB is the ticker symbol of Binance Coin and you will often see the two used interchangeably. This policy is one of the biggest advantages of Binance Coin, designed to overcome the possible depreciation of value.Īnother important aspect of Binance Coin is the discount the platform offers for BNB traders. Binance regularly buys back and destroys BNB tokens till it cuts its supply in half, leaving only 100 million in circulation. How Does Binance Coin Work?īinance Coin can be used on the Binance platform and is also one of the best utility tokens.īinance Chain uses the Tendermint byzantine-fault-tolerant (BFT) consensus mechanism, which involves three types of nodes: validator nodes witness nodes and accelerator nodes.īNB also uses a unique burndown policy to ensure the steady growth of Binance Coin. Interestingly, it’s not only its properties that make Binance Coin highly appreciated the popularity of Binance is a factor that we can’t ignore.Īfter all, Binance is one of the leading crypto platforms globally, with deep pools of liquidity, so it’s no surprise that Binance has managed to push BNB adoption further.Ĭrypto asset investing is highly volatile and unregulated in some EU countries. It can be used to get virtual gifts (e.g., on Gifto), in-game rewards, and also to pay freelancers for their work (e.g., on CanWork).īinance Coin is also recognised by major tech companies that allow users to use BNB through built-in wallets (e.g., Samsung’s s10 ). Now Binance Coin is one of the best utility tokens that can be employed beyond the Binance ecosystem, across blockchain and non-blockchain companies.īinance Coin can be used to pay for goods, property, travel, and online services (e.g., via TravelbyBit ). The main purpose of Binance Coin was to offer an alternative way to pay for trading fees on the Binance platform. Note that, initially, Binance Coin was launched on the Ethereum blockchain as an ERC-20 token but later moved to its own blockchain, the Binance Chain. What Will Affect Binance Coin In 2022 And Beyond?īinance Coin (BNB) was created by the popular crypto exchange Binance and is the native token on both the Binance Chain and Binance Smart Chain.īNB had a successful Initial Coin Offering (ICO) of 100 million tokens in 2017 and raised over $15 million (used for further promotion and development of the coin).Binance Coin Price Predictions: How Much Could Binance Coin Be Worth?.If you want to buy Binance BNB quickly and easily, check out eToro!Ĭrypto asset investing is highly volatile and unregulated in some EU countries. You’ll then be able to come to your own conclusions on whether or not BNB is worth investing in. Well, let’s break all Binance-related myths circulating online before you consider investing in Binance Coin. Investing in any kind of asset requires that you fully understand what it does and its potential flaws that could result in a loss. It’s a good thing you checked online before just buying it. If you are new to the world of Binance Coin investing, you might be wondering if BNB is a good investment, or shall I invest in Binance Coin? ![]()
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