The Binance Coin (BNB) was created as an additional tool by the developers of the Binance exchange resource. In this review, we will acquaint you with this coin, consider its prospects in the sphere of trade, and also as a potential means for long-term investments.
The volume of BNB coins is limited – the total number of BNB-tokens is about 200 million units. At the same time, the availability of additional emission is not provided by the Binance developers. If you look at the BNB coin in this perspective, then it is a good option for long-term investments, and a fixed emission is an additional plus.
Development of the Binance system
According to the developers of the Binance platform, about 35 percent of the total volume of all issued BNB tokens on the company’s balance sheet will be focused on further development and promotion of the project, as well as its optimization. Half of these assets are allocated to the marketing campaign, the process of branding and the formation of an educational infrastructure that allows the Binance system to attract a greater number of potential investors.
Where to buy BNB tokens and how to use them
It is logical to assume that the main source for the purchase of BNB tokens is the Binance exchange resource. In addition, Binance Coin can be purchased when calculating Ethereum tokens within the decentralized EtherDelta platform.
And now the most important thing: BNB is not just a cryptocurrency, which you store in your wallet in the hope of increasing its value in the future. When trading a cryptocurrency within the Binance exchange, this token will provide you with such advantages:
- By calculating the BNB tokens, you have the opportunity to purchase both the leading altcoins of the cryptocurrency market, including BTC, ETH, LTC and many others, as well as other emerging cryptocurrency products. Binance Exchange provides its users the opportunity to acquire and exchange in pairs more than 2 hundred different tokens;
- Use of BNB tokens allows you to reduce the size of the exchange commission for transactions. The size of the standard fee is 0.1 percent of the transaction amount, although this is one of the lowest commissions for such a level of exchange resources. Along with this, users are offered a commission two times lower – at a rate of 0.05 percent. To be able to use this offer, you simply need to have a certain amount of money in the equivalent of BNB tokens in your wallet – the commission is charged in the equivalent of the local currency of the Binance system.
In the first year of the activity of the Binance exchange platform, the commission reduction indicators are 50 percent. In the course of further work, they will smoothly enter the initial level, which is:
- For the 2nd year – when working with BNB-tokens, a reduction in the commission by 25 percent;
- For the 3rd year – when working with BNB-tokens, the reduction of the commission by 12.5 percent;
- For the 4th year – when working with BNB-tokens, the reduction of the commission by 6.77 percent;
- For the 5th year – when working with BNB-tokens, the commission is a standard 0.1 percent.
So you can see that Binance Coin is not only a means for investing assets, but also for carrying out activities within the stock exchange. The developers of Binance exchange resource set themselves the goal of improving the quality of security for working with monetary assets, and the ideal solution will be a full transition to a decentralized system for trading. For this reason, one cannot exclude the possibility of new BNB-token application in the near future, which almost completely guarantees the tendency of the coin’s value growth.
According to the forecasts of the development of Binance, users are waiting for the following:
- Cooperation of Binance with leading experts in the development of cryptocurrency projects;
- Optimization and decentralization of the Binance trade resource;
- The launch of many actions to attract potential investors to the project.
Binance Exchange Team
The development of the Binance project is conducted by a group of highly qualified professionals who have extensive experience and have built a reputation for themselves by working on the Bijie Tech product, a company that focuses on providing cloud resources for data exchange. At the moment, the Binance platform already takes a leading position in the field of trading activities related to the implementation of Litecoin and Ethereum, which indicates a great future for the company and the opportunity to take the first position in the rating within the cryptocurrency world.
The process of «burning» the BNB tokens
Since the Binance developers do not expect an additional issue of Binance Coin, unused BNBs will be burned according to the schedule previously planned. On this subject in the news section of the Binance stock exchange site, there is the following information, which says that about 20 percent of the quarterly profit will be spent on redemption and burning of BNB tokens until 100 million Binance Coin is destroyed. As a result of the first quarter, 986 thousand BNB tokens were burned – this is confirmed by a public entry posted in the detachment.
This indicates a regular decrease in the number of BNB coins and an increase in their value, respectively. With the growing demand for BNB tokens, it can be said that investors will have access to far more than one positive aspect of earning a profit from owning BNB-tokens.
You can read the record about burning the Binance Coin tokens in the Blockchain at the link below: 0x5c2c458b4af0ed8d3ce822fbae71878de10b8a2405101344456c358e19045463.
Prospects for the development of Binance Coin in 2018
The leading indicator of the future development of the Binance project is the utility level of the BNB-token. It can be used not only as a means for investing monetary assets but also as a method for obtaining more comfortable conditions for trading activities when dealing with cryptocurrencies within the Binance exchange resource. The Binance project does not stand still and is constantly improving – in the future it is very likely that we will see a new version of the Binance platform, which will be characterized by a decentralized management for instant transactions on the cryptocurrency exchange. Also worth noting is the rapid increase in the user audience of the Binance system – the total auditory already exceeds 3 million users.