What is Binance Coin (BNB)

Binance Coin (BNB) is the cryptocurrency of the Binance exchange and is used to pay trading fees on the exchange.

What is Binance coin BNB
Binance Coin (BNB) is the cryptocurrency of the Binance exchange and is used to pay trading fees on the exchange. It was one of the best performing cryptocurrencies in 2017, with an increase of about 2,200%. BNB currently has a market cap of $1 billion and was created by the Binance team when they launched their ICO back in July 2017. The main purpose of BNB on the exchange is to use it to pay your trading fees at a discounted rate..

What is Binance (BNB) Coin

Binance Coin (BNB) is a cryptocurrency that can be used to trade on the Binance platform. The Binance Coin is an Ethereum-based token that allows you to save on transaction fees and pay reduced withdrawal fees. For example, if you purchase 1 ETH (Ethereum) with 0.1 BTC (Bitcoin), the transaction fee is approximately $4 on other exchanges, whereas it only costs about $0.1 on Binance. The Binance system is designed to reduce these fees further over time as the demand for BNB rises (similar to the way gas prices increase during periods of high congestion). To learn more about how transaction fees work, please read our beginner’s guide on how to use Binance.

Who is the founder of Binance (BNB) Coin

Binance CEO Changpeng Zhao is the founder of Binance coin. He is also a computer programmer and software engineer who became involved in bitcoin in 2011. At first, Zhao was not impressed with blockchain technology, but he slowly came around. By 2013, Zhao was working on setting up Chinese bitcoin exchanges as well as launching Initial Coin Offerings (ICOs). Over time, Zhao would be involved in other major cryptocurrency projects including OKCoin and other cryptocurrency exchanges like Bter and BTCC.

How to buy Binance coin

Buying crypto via credit card or bank transfer on Binance was a challenge before September 2018. Although you can still buy cryptocurrency on Binance via bank transfer, a big plus for the exchange is that you can now buy crypto directly with your credit/debit card without the need to use another platform as an intermediary. Keep in mind, that if you use your debit card then there will be two charges: one from the bank and one from the exchange.

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Where do I store the Binance (BNB) Coin

Binance Coin Wallet is a cryptocurrency and a blockchain platform that allows traders to store Binance Coins securely. The best way to store the Binance Coin token is with the Ledger Nano S. It costs about USD 100, but it’s one of the most trusted hardware wallets available and will provide you with all the necessary features to keep your coins safe.

What is the price of a Binance (BNB) Coin

The Live Binance Coin price is