Where To Buy Binance Coin
The live BNB price today is $314.98 USD with a 24-hour trading volume of $456,227,587 USD. We update our BNB to USD price in real-time. BNB is down 0.67% in the last 24 hours. The current CoinMarketCap ranking is #4, with a live market cap of $49,731,977,422 USD. It has a circulating supply of 157,888,274 BNB coins and the max. supply is not available.
where to buy binance coin
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If you would like to know where to buy BNB at the current rate, the top cryptocurrency exchanges for trading in BNB stock are currently Binance, CoinW, OKX, Deepcoin, and Bybit. You can find others listed on our crypto exchanges page.
Since launching the BNB, the exchange has also benefited from increased investor interest in the coin. BNB went through a significant price increase at the beginning of 2021, which has put it on the map of enterprise investors.
This has helped Binance overcome several exploits of protocols on BSC, such as a $200M exploit of Pancake Bunny and several hacks of Cream Finance. Despite these hacks, users return to Binance for its low fees and the abundance of lucrative meme coins in its ecosystem.
Within the crypto industry, a coin burn is a deflationary mechanism that is used to permanently remove coins from circulation. Most cryptocurrency projects, including Binance, periodically burn coins to sustain the value of their digital asset and create a deflationary effect.
BNB utilizes two coin-burning mechanisms. The first mechanism consists of burning a portion of the tokens spent on transaction fees on the BNB Chain, and the second is its quarterly BNB burning events.
According to the Binance whitepaper, exactly half of the maximum supply of BNB coins was allocated towards the initial coin offering (ICO) and public sale of the coin. The ICO was held in July 2017 shortly after the exchange launched, and saw Binance raise $15 million in funding, with BNB price at $0.10 during the ICO. Taking BNB price today, that represents an almost 4200X return on investment (ROI). Another 40% of the total supply, or around 80,000,000 BNB coins, was distributed among the founding members and team. Finally, the remaining 10% of the maximum supply was split among angel investors.
While ERC-20 tokens rely on the proof-of-stake (PoS) consensus, which allows them to be extremely scalable, and allows for the creation of smart contracts. Unlike PoS, the Binance blockchain does not support smart contract functionalities. In contrast, the Bitcoin blockchain is secured by the proof-of-work (PoW) consensus, which is far more limited and consumes large amounts of electrical and computing power.
As the dedicated utility token of the Binance exchange, the most straightforward way to acquire BNB coins would be to purchase them through Binance. The original exchange supports the largest variety of trading pairs with BNB, and it also has the best trading rates for the coin. Since the launch of Play2Earn games, interest in the BNB to PHP price has increased substantially.
If you are looking for alternative exchanges where you can purchase BNB, FTX is a good choice. Keep in mind that investing in cryptocurrency can be risky, just like investing in any other type of asset.
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Binance Coin holders can use the tokens to receive discounts on Binance crypto exchange transaction fees. It can also be used to trade for other cryptocurrencies, such as Bitcoin, Dogecoin or Litecoin.
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Binance Coin (BNB), the platform coin of the crypto exchange Binance, has secured its place among the top cryptocurrencies by market capitalization. Thanks to the strong growth of Binance and its products and blockchains, the coin has surged in price in recent years.
BNB was first sold in the summer of 2017 in an ICO event for about $0.11 per coin. Like most successful cryptoassets, the coin has experienced high volatility and a strong price increase. In the summer of 2020, just 3 years after its launch, BNB was already worth 200 times more (200x). A year later, the coin has jumped another 1,500% (15x), reaching a market capitalization north of $50 billion.
The Binance exchange not only grants discounts for paying trading fees with BNB, it also burns a share of the generated fees each quarter, which leads to a reduction of the overall coin supply. The decentralized exchange (DEX) requires BNB to pay for transaction fees. The same applies to DeFi applications running on the Binance Smart Chain. The higher the transaction volume on the two blockchains, the higher the demand for the BNB coin.
The best place to buy Binance Coin (BNB) is its native platform, Binance, but other exchanges like Bithump, KuCoin, and FTX do the job as well. Please note that several competitors such as Coinbase, Huobi, Bitfinex, Bitstamp, and Kraken have not listed the coin on their platforms.
Holders of BNB have the possibility to stake their coins to earn interest. The easiest way is to stake the coins directly through the Binance platform. Alternatively, PancakeSwap and other protocols allow for BNB staking as well.
Binance Coin (BNB) is the native coin of the Binance exchange and host to the BNB Chain, which became a DeFi powerhouse in late 2020. This helped cement BNB as one of the leading cryptocurrencies in the world, reaching an all-time high of $686.31 in May 2021.
With over 600 cryptocurrencies listed, Binance is the largest crypto exchange in the world. BNB is the cryptocurrency coin that powers the BNB Chain ecosystem, which has several use cases for the Binance exchange. Including reduced trading fees if you own BNB.
The exchange offers a range of derivatives and earning opportunities such as staking, savings accounts, and liquidity farming, so after you've purchased BNB, it's on a platform where you can potentially earn more from it. Read our full Binance review here.
Successful traders usually find it easier to keep their coins in web wallets because regularly transferring coins from software or hardware wallets to exchanges for trading can be an arduous and time-consuming task. Both fiat currency and crypto can be traded for Binance Coin, those looking to start trading should closely follow the BNB price.
Besides the usual BNB trading there are also other ways that traders can utilize the coin to help save them money, and buying BNB can help with that. The Binance exchange currently allows traders to pay for transaction fees with Binance coins when trading crypto. This can potentially save a trader depending on what price they purchased BNB at, but they will save regardless as there is a discounted rate when choosing to pay the fees in this way.
Rather than just simply purchasing Binance coin and holding onto it owners can also choose to stake BNB tokens. Staking helps approve transactions on the network. Those looking to stake will need to be sure that they are willing to set aside some of their Binance coin tokens that they won't be able to use. In the case of BNB, it's within a seven-day period, and a minimum of 1 BNB is required to stake. Stakers don't go empty-handed and will earn rewards for the BNB tokens they have staked.
Centralised exchanges are trading platforms that take custody of your coins on your behalf in the same way a bank may with your money. These often take the form of a regular business and can increase the risk of crypto loss if anything were to happen to the company.
Several factors impact the price of a Binance asset. Binance has ensured that BNB has a finite coin supply. BNB is also a utility token, which has various uses on the BSC. You can use it to pay for transaction fees on the Binance Chain, Binance DEX, and the Binance site. These are only a few factors that determine the BNB coin price.
Yes, you can buy Binance coin on Changelly without the Know Your Customer (KYC) process. However, remember that not all providers allow this. You may add Binance coins into your crypto wallet, depending on the chosen FIAT provider.
Today, most people use Binance coins to pay for travel arrangements, pay for their credit cards, buy virtual gifts, invest, loan, donate, and more. As of February 2022, the market cap of BNB exceeds $68 bln, making it the fourth-biggest cryptocurrency worldwide.
Beyond custodial support, Binance coin has seem modest adoption from various companies affiliated with Binance exchange. These affiliations open up the opportunity for BNB to be used for travel expenses, bill payments, investments, and more.
In August 2018, Binance along with three other big exchanges raised $32 million for a stablecoin project. The idea of stable coins is to provide a cryptocurrency without the notorious volatility of Bitcoin and other popular digital assets.[24]
In January 2019, Binance announced that it had partnered with Israel-based payment processor Simplex to enable cryptocurrency purchases with debit and credit cards, including Visa and Mastercard. The purchases are subject to Simplex's local bank policies and are limited to Bitcoin, Ethereum, Litecoin and Ripple's XRP.[25] 041b061a72