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Binance Coin
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Cryptocurrency Binance Coin(BNB) Course | Price | Charts | Market capitalization

The Binance Coin rate today is 373.62 USD, and the trading volume for 24 hours is 1,659,239,522 USD. The crypto asset has risen by 2.84% in the last 24 hours. At the moment, the market capitalization of the coin is 62,819,839,422 USD, and has 168,137,036 coins in circulation with max. delivery of 71,335,677,475 coins BNB

What is Binance Coin (BNB) cryptocurrency?

Binance Coin or BNB is a cryptocurrency developed and issued by the world's leading cryptocurrency exchange Binance. Although Binance is a very popular exchange, the company is looking to expand its operations to include many different services. Binance Coin was created to serve this entire ecosystem.

Binance Coin users receive a transactional discount when paying commissions on the Binance Exchange as an incentive. BNB can also be exchanged for other cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc.

Binance Coin was created in July 2017 and originally ran on the Ethereum blockchain with an ERC-20 token before becoming the currency of its own blockchain, Binance Chain.

Using Binance Coin

Like other emerging cryptocurrencies, the project offers several use cases that go beyond the Binance exchange, for example:

Trading: Binance Coin is exchanged for other cryptocurrencies on various exchanges, depending on the restrictions set by the exchange.

Commission: BNB can be used to pay for transactions on the Binance Exchange, and users get a discount for that as well.

Credit Card Payment: BNB can be a form of payment for crypto credit card bills on Crypto.com.

Payment Processing: Merchants can offer BNB as a means of payment to customers, providing more flexibility in payment methods.

Travel Arrangements: BNB can be used to book hotels and flights on certain websites.

Entertainment: From paying for virtual gifts to buying lottery tickets, BNB serves multiple purposes in the entertainment industry.

Investment: Multiple platforms allow investors to invest in stocks, ETFs, and other assets using Binance Coin.

Loans and transfers: BNB can be used as collateral for lending on certain platforms. In addition, there are apps that allow users to split bills and pay friends and family through Binance Coin.

Binance Coin Cryptocurrency: Initial Coin Offering.

Binance Coin was launched with an Initial Coin Offering (ICO) in July 2017. As part of the ICO, BNB tokens were distributed among various participants, including business angels and the founding team of Binance.

Here's a quick rundown of how the BNB tokens were originally distributed:

Founding team: 40% (80 million BNB)

Business angels: 10% (BNB 20 million)

Public sale: 50% (100 million BNB)

All 100 million BNB tokens available for public sale were sold during the ICO at 15 cents per token. Thus, the crypto exchange has raised a total of USD 15 million in Bitcoin and Ethereum.

Of the $ 15 million raised, 35% went to modernize the Binance platform and exchange system. 50% was allocated to Binance branding, marketing, and innovator training, with the remaining 15% used as a reserve in case of emergencies or unprecedented circumstances.

As mentioned in the Binance whitepaper, every quarter, the crypto exchange uses 20% of its profits to buy back and burn BNB coins, completely destroying them. Binance regularly conducts quarterly burns, the most recent being the 13th quarter, October 17, 2020.

Binance will continue to perform quarterly burns until it buys back and destroys 100 million BNB coins - 50% of the total supply. This practice ensures that the Binance Coin supply remains limited, making it scarce and more valuable.

How many Binance Coin coins are in circulation? What is their price and course?

At the moment, the maximum supply price of Binance Coin is 71,335,677,475 coins BNB, 168,137,036 BNB is in circulation.

Today the price of the Binance Coin coin is 373.62 USD, with a daily trading volume - 1,659,239,522 USD, market capitalization - 62,819,839,422 USD.

Summary

  • To own your crypto assets, you need to manage your own private keys.
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  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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