Name Binance Coin
Market Capitalization$54.37 billion
Coin or TokenCoin
Official Website (Alt)N/A
Message Board (Alt)N/A
Binance Coin (BNB) Frequently Asked Questions
What is Binance Coin?
BNB powers the Binance ecosystem and is the native asset of the Binance Chain. BNB is a cryptocurrency created in June 2017, launched during an ICO in July, and initially issued as an ERC-20 token. Designed to be used for a fee reduction on the Binance exchange, its scope was extended over the years. BNB powers the Binance Chain as its native chain token. For instance, it is used to pay fees on the Binance DEX, issue new tokens, sencancel orders, and transfer assets. BNB is also powering the Binance Smart Chain, which is an EVM-compatible network, forked from “go-ethereum”. It supports smart contracts and relies on a new consensus mechanism: Proof-of-Staked Authority (PoSA) consensus (“Parlia”), which incorporates elements from both Proof of Stake and Proof of Authority. BNB is used for delegated staking on the authority validator, leading to staking rewards for users and validators. Besides its on-chain functions, BNB has multiple additional use-cases such as fee discounts on multiple exchanges (e.g., Binance.com), payment asset on third-party services, and participation rights & transacting currency on Binance Launchpad. At the core of the economics of BNB, there is a burn mechanism leading to period reductions in its total supply (~ every three months). From its initial maximum supply of 200 million, burns are expected to continue until the supply reaches 100 million. Whitepaper (Description provided by CryptoCompare)
How do I buy Binance Coin?
It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Binance Coin.
What do investment analysts think about Binance Coin?
Weiss Research, an investment research firm that rates cryptocurrencies, has given Binance Coin an overall rating of "C", a technology and adoption rating of "C-", and a market performance rating of "B+".
Where can I get Binance Coin wallet?
Binance Coin produces its own wallet software that is available for download on its website, which allows you to store Binance Coin on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.
What is the value of Binance Coin?
One Binance Coin (BNB) is currently worth $354.36 on major cryptocurrency exchanges. You can also exchange one Binance Coin for 0.00938761 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Binance Coin in U.S. dollars is $54.37 billion.
What hashing algorithm does Binance Coin use?
Binance Coin is a PoSA coin that uses the BEP-2 algorithm.
What is the Reddit page for Binance Coin?
The official Reddit community (subreddit) for Binance Coin is r/binance.
MarketBeat Community Rating for Binance Coin (BNB)MarketBeat's community ratings are surveys of what our community members think about Binance Coin and other cryptocurrencies. Vote "Outperform" if you believe the stock will outperform other cryptocurrencies over the long term. Vote "Underperform" if you believe the stock will underperform other cryptocurrencies over the long term. You may vote once every thirty days.
Binance Coin (BNB) Price Chart for Friday, June, 18, 2021
Binance Coin (BNB) Search Trends
There is a correlation between price appreciation and public interest in cryptocurrencies, such as Binance Coin. Many cryptocurrency investors use Google Trends, which measures the volume of web searches for a particular topic over time, as a tool to gauge whether public interest is increasing or decreasing for a particular cryptocurrency. The chart below shows how search volume has changed for the phrase "Binance Coin Coin" over the last 90 days.
Binance Coin (BNB) Website Traffic
Binance Coin (BNB) Social Media Trends
Binance Coin (BNB) News Headlines