Detail Explanation of Binance coin(BNB) with its features and price chart

BNB stands for Binance coin which is the native token of the Binance exchange. Binance coin is issued by Binance with the symbol ‘BNB’. BNB or Binance coin is a coin which will help you to provide a discount on the fees such as Withdrawal fees, trade fees, and on many other fees if it is paid by BNB. In simple words, Binance coin is a digital currency which is mainly used to pay expenses on the Binance trade. Binance coin or BNB was founded in 2017 by the two people named Changpeng Zhao and Yi He.  The Chief executive officer of this Crypto exchange is Changpeng Zhao. As Binance coin is used to provide a discount on the fees but it goes on decreasing every year:
First Year: There will be a 50% fee discount
Second Year: There will be a 25% fee discount
Third Year: There will be 12.5% fee discount
Fourth Year: There will be 6.75% fee discount
Fifth Year: There will be a 0% fee discount
The discount rate keeps on decreasing, BNB will not be more useful for a longer time. It is said that BNB is planning to build a decentralized exchange and BNB may be used as a key base assets on the site.

It is necessary to buy BNB OR BINANCE COIN?

Many people are curious to know that it is necessary to buy Binance coin or not. Every people wants to know what benefit Binance coin provide. In today’s context we can find numerous coins present in the Crypto world but now let’s discuss the following two topics:

  1. Why you should buy Binance coin:

Binance coin helps you to provide a discount on various fees such as Withdrawal fees, trade fees, and so on. If you are a regular Binance user and you have to do a large trades or withdrawals then Binance coin will help you a lot. It will play a vital role in decreasing the fees by providing a satisfactory discount.

  1. Why you should not buy it?

As I told that Binance coin will help you to deduct fees by providing discount but it will not be useful for a long time. Let me explain you, the discount rate will keep on decreasing over time and it will not be effective before it’s all bought back.

How to trade BNB?

Most of the people don’t know to sell or trade Binance coin or BNB. It is simple, and very easy process, you should follow the below-mentioned points to trade Binance coin.

  1. At first, go to the exchange platform where you have your Binance coin. You can select a compatible exchange platform if you have BNB or Binance coin in a digital wallet.
  2. After that, you must follow the instruction to finish your sale or trade.

What is the future Planning or Partnership of BNB or Binance Coin?

As we know BNB or Binance coin is one of the largest Crypto exchange not in China but also in the whole world. This Crypto exchange is planning a lot for future partnership with other giant industry.  But now one of the most valuable partnerships done by this Crypto exchange is with the Neo smart economy which is an exciting blockchain project from China.

Features of BNB or Binance Coin:

  1. Offers Discount:

    One of the most interesting and eye-catching features of this Crypto exchange is that it allows a good discount to the users if the trade is done by the BNB or Binance coin.

  2. Low transaction fees:

    BNB or Binance coin has very low transaction fees compare to other Crypto exchange. The fees rate of other Crypto exchange mainly starts from 0.25% but BNB allows you to trade in just 0.10% trade fees.

  3. User-friendly interface:

    As we all users want a very easy, and simple interface to do a trade of cryptocurrencies. Hence, BNB or Binance coin has a simple, easy, and user-friendly interface which appears or looks good in all electronic devices.

  4. Security:

    When it comes to the security, Binance Crypto exchange is one of the most secured Crypto exchange in the world. It has a very clean record’s related to hacking and other malicious cyber activities. You do not need to be a worry while doing trading from this Crypto exchange.

  5. Huge Withdrawal Limits:

    In most of the Crypto exchange you are only allowed to withdraw somewhere around $2000. But in the case of Binance, it has a huge withdrawal limit. It will allow you to withdraw somewhere around $30000. This proves that why Binance or BNB is regarded as one of the top Crypto exchange in the world.

Therefore, above are some features of Binance coin. From the above features, we can conclude that Binance is not only good for long-term investment but also good for short-term investment. But one must have to do a detail investigation before purchasing or investing in Binance coin.

Price Chart of Binance Coin:

Now let’s discuss the Price chart of Binance Coin or BNB:

Exchange Today’s open 24 hour volume 24 hour high 24 hour low Market Cap: Supply:
Binance $9.69 $23.40 Million $9.76 $9.52 $1.12 Billion $117.44 Million

Therefore, the data presented above was of October 15, 2018, and the time was 3:43 AM GMT. From the above data, you can know the actual price chart of Binance coin but the data keeps on changing every minute, to gain the complete information about BNB price chart you must be updated.

Do you like to see the Market List of other Crypto exchange as well? Then here it is:

Exchanges Market Share Number of Trades 24 hour Volume USD  Last Updated
Bithumb 20% >109,101 $635,940,043 October-15
Bitfinex 5% >168,520 $162,583,274 October-15
LBank 5% >123,401 $159,759,231 October-15

In a conclusion, Binance coin is a coin which is issued by Binance and runs on the Ethereum Blockchain. BNB is one of the most secured Crypto exchange in the world which offers you a heavy discount. There are total 200 million BNBs tokens but let me tell you this is the deflationary currency and will automatically go down to a cap of 100 million over the course of 5 years.

【References】

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