Binance Coin – BNB

Reviewed by Komal | Updated on Aug 26, 2020

Introduction

Binance coin is the crypto-coin issued by the binance exchange and trades with a BNB symbol. This coin runs on the Ethereum blockchain with standard ERC 20 and is limited to a maximum of 200 million BNB tokens.

Understanding Binance Coin – BNB

The binance coin is expected to boost the operation of the binance exchange and its ecosystem. It supports multiple utilities such as trading fees, exchanges fees, listing fees and any other fees on the binance exchange. The binance coins have garnered support from various partnerships that have helped in its usage spread.

Factors to consider before you invest

  1. The binance coins can be used to invest in certain initial coin offerings that are listed through Binance's launchpad program.
  2. New cryptocurrencies will be listed on the Binance exchange, and use of binance coins will give a seamless marketplace for dealing in a variety of virtual tokens.
  3. Binance will ultimately become the primary currency of the decentralized binance exchange.
  4. Binance coin is also supported by the VISA debit card of Monaco, the pioneering payments and cryptocurrency platform and the platform, the mobile app.