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The Surge of Binance Coin

After Bitcoin and Ethereum, Binance Coin (BNB) is the world’s third most valuable digital currency. BNB has added a lot of value since the beginning of the year, with more than 1000 percent increase in the last 16 weeks from $40 to $600. Binance Coin has become the world’s third digital currency to cross a market capitalization of $93 billion, after rising approximately 25% in the last seven days. BNB is currently trading around $600. 

Binance is by far the largest cryptocurrency exchange in the world. It’s so high that a “native” cryptocurrency named Binance Coin was created specifically to make paying for the site’s services smoother. Binance is one of the most common cryptocurrency exchanges since its transaction fees are among the lowest in the world. Any of those billions of trades costs only 0.1 percent to perform. 

Binance Coin in Binance Exchange

The main benefit is that if you pay for Binance Coin, the exchange’s native cryptocurrency, you get a full 50% discount on already low trading rates (BNB). That ensures that instead of costing 10 cents for a $100 purchase, you’ll only have to pay 5 cents if you use BNB.

If you’re unfamiliar with cryptocurrency markets, according to Yahoofinance, Binance processes 1.4 million trades per second and has a daily turnover of $2 billion. Around 60% of global crypto consumers tend to store their digital assets on exchanges, according to a recent survey released by Binance Research. Furthermore, 55% of consumers own digital properties as part of a long-term investment plan, according to the exchange.

About Binance Coin

Binance launched BNB in 2017 as a service token with reduced trading costs. BNB was first released as an ERC20 coin, however it has now evolved into the native token of the Binance Chain blockchain and an internationally important cryptocurrency through market capitalization. 

BNB may be used as a payment form, a service token for paying Binance exchange rates, and for participating in Binance token sales. BNB can be used as a payment form, a service token for paying Binance exchange rates, and a token for participating in Binance launchpad token sales. The Binance DEX is also powered by BNB (decentralized exchange).

 

 

Image: mohamed Hassan 

*Disclaimer: Fyggex, does not give any guidance, advice or recommendations to neither invest or not in any available normal currency or digital currency directly or indirectly via any trading platform, exchange or provider. Our sole purpose is to make you aware of the related real or potential risks and opportunities so that you can make your own research prior to any financial decisions you may want to take. Past performance and position are not a guarantee of risk-free future returns.