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What is BNB

BNB

BINANCE COIN (BNB)

¿What is BNB?

Binance Coin, better known as BNB, is the reference currency of the Top 1 exchange house which is known as Binance. It is a token built within the Ethereum blockchain founded by its CEO Changpeng Zhao in July 2017 in the country of China.

¿What does it offer?

BNB offers fast transactions, security, discounts and payments.

They offer to execute operations within the Binance Chain, having a discount of fees in the maneuvers, fast transactions maintaining a support of 1.4 million transactions per second, security using a system of clusters and levels that protect the funds and in the same way the users can purchase BNB like any other cryptocurrency and make payments for services and goods.

¿How does BNB work?

Binance Coin works as a base to make payments and transfers on the Binance platform exchange.

BNB is based on the blockchain of the aforementioned platform and uses BEP2 tokens (standard token on Binance Chain) that can store and hold the value, as well as operate with a discount from the Binance exchange, the discount rate started from the first year with 50%, but it is planned to decrease by half each year.

¿How is BNB regulated?

BNB is not regulated by any financial institution or central. Binance coin uses its own Binance Chain blockchain, as it uses cryptographic encryption thus avoiding vulnerability and infiltration to safeguard your personal information and funds.

¿Why do people use BNB?

Binance coin has many methods of use either on its Binance platform or elsewhere. Users have used Binance Coin in quite common aspects such as paying for trips, buying virtual gifts, paying for goods and services, loans, creating smart contracts, among others.

¿How is BNB different from other stablecoins?

BNB highlights that this cryptocurrency can be worked by the exchange or exchange for other virtual currencies and pay fees within the Binance platform, it has a limit of two hundred million tokens, unlike Bitcoin, which can only be created twenty-one million of them, Although not all of them are in circulation, the new ones are produced through mining, which is not the case with BNB.

¿Where can i buy it?

One of the ways where you can buy BNB is through Binance, since it has a wide variety of stable coins that can be traded, you can exchange a cryptocurrency, fiat cryptocurrencies or simply use a debit or credit card to buy the currency, it is also Bank deposits are allowed.

https://www.binance.com/

¿Where to find more information?

For more information such as movements, prices, explorers, contracts and more you can visit the following link: https://coinmarketcap.com/es/currencies/binance-usd/

 

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