Binance Coin – what is it? : TON Tips

Binance Coin – what is it?


Posted by Dissector on 01 May 2021

Binance Coin (BNB) is a coin originally created on the basis of Ethereum. Using it, you can take advantage of discounts when paying for the services of the Binance cryptocurrency exchange. In the future, Binance will turn into a decentralized exchange of blockchain assets.

In addition, users with BNB accounts can take advantage of the innovative features that are planned to be implemented when launching a decentralized crypto exchange.

According to the decision of the creators of BNB, in the future, the coins should be partially destroyed. For example, in mid-spring 2018, 2 million coins were withdrawn from circulation. Developers take such measures to control the value of the asset.

The BNB Coin issued as part of the project was created on the Ethereum blockchain. A total of 200 million tokens were issued. Initially, 100 million coins were available for sale from them. ICO investors purchased coins with a total value of 15 million US dollars in equivalent.

Early investors became owners of 20 million Binance Coin. The crypto exchange kept the remaining 100 million tokens for itself. The initial value of the coin was: 2,700 BNB for 1 ETH, or 20,000 BNB for 1 BTC. Thus, we can say that the price of the coin has increased significantly since its appearance.