About Binance Coin
Binance Coin is a cryptocurrency token launched in the third quarter of 2017 by the famous exchange platform with the same title – check it out at the official website of Binance Cryptocurrency Exchange. The symbol of their coin is BNB and they are based in Shanghai, China. There are over 200.000.000 Binance tokens that circulate all over the world.
Binance combines binary algorithms with finance. The exchange platform is one of the strongest in the world and promises to become the most powerful from the existing ones.
To develop the platform, the team behind it designed an ICO that will accelerate their tasks. You can use BNB tokens to pay the fees for your exchange transactions, withdrawals and other types of taxes.
How does the Binance Coin model work?
To encourage users to trade BNB tokens on the Binance exchange platform, the organizers created a motivational system. You will receive discounts on all fees for transactions made on binance.com as follows:
- 1st year= 50 % discount;
- 2nd year= 25 % discount;
- 3rd year= 12,5 % discount;
- 4th year= 6,75 % discount and
- 5th year= no discount.
You are charged for your transactions with 0,1% of the amount. There are two main advantages using the Binance platform and BNB tokens. First, you are paying the fees in Binance Coins and secondly, using the company’s platform for your transactions, you have reasonable discounts.
How to buy Binance tokens?
The process is simple. You can choose to buy the BNB tokens directly with fiat currencies using only the Binance exchange platform or you can exchange altcoins into BNB. Check if your country is listed on the Coinbase platform if you want to buy some Bitcoins or Ethereum; then, use the Binance platform to exchange the altcoins into BNB tokens and start trading.
The future of BNB tokens
To accelerate the growing process of BNB values, the Binance Company will buy in every quarter of year a specific percentage of BNB that are circulating globally. They will do this till the platform gets back 50% of the total amount of tokens. The BNB’s value will grow up so keep investing in it!
The Advantages of Binance Coin
- During the first four years, a user that trades BNB tokens on Binance platform has motivational discount rates per each year for transaction’s fees;
- The BNB price is going to grow up in 2018, because the company will buy back a number of existing tokens;
- Anyone can buy BNB tokens directly with fiat currencies (using the Binance platform).
The Disadvantages of Binance Coin
- You can’t trade Binance tokens in decimals;
- Unfortunately, the BNB Coin’s success is connected directly with Binance’s platform notoriety;
- The Binance Company will keep perhaps the BNB tokens limited. Today, you can trade tokens only on Binance exchange platform.
Binance exchange platform has for sure an established and promising plan for future. Binance Coin is a way to accelerate their performance. We recommend you to invest in BNB tokens now.This year, the company will buy an amount of Binance Coins and the price will raise up.