What is BNB (Binance) Coin?
Today, with the development of technology, the crypto money market has started to form. Cryptocurrencies have entered our lives thoroughly. In this case, an increase in investment in cryptocurrencies was observed. Among these cryptocurrencies, BNB was the most preferred coin by the investor. BNB coin is a cryptocurrency created by Binance. It is increasing in volume day by day. Investors What is BNB (Binance) coin? Since they are in research, we will cover this subject in this article.
What is Binance Coin?
As a cryptocurrency created by the Binance company, BNB has made its way into the cryptocurrency market. Although it is based on ERC-20, it is the coin with the highest volume. Binance coin has risen very quickly in the list of cryptocurrencies and has placed itself in the 3rd place. In general, investment in Binance coin is increasing day by day around the world. Currently, BEP offers its service with 2 bases. Binance coin is easily used in international money transfer transactions.
It was launched in 2017. It has been one of the cryptocurrencies that has developed very rapidly since this date. Binance coin, which has major projects, has become one of the most reliable cryptocurrencies. It is supported by Binance company. Many crypto currency exchanges are listed and traded. Its headquarters is in Malta. There are very strong projects behind Binance coin, which has made great debuts. This coin will continue to receive support thanks to the breakthroughs that Binance company will make in the future. While it was 11 cents when it first entered the market, it showed itself in a very short time. Binance coin, which is backed by successful Binance projects, will continue its rise in the coming years. BNB is the abbreviation of Binance coin as it is a cryptocurrency. BNB is abbreviated in crypto money markets.
BNB Price Statistics
• Market cap: 41,503,246. $295.59.
• BNB price is 256 Dollars.
• Market dominance: 4.07 %
• Trade Volume: $1,517,594,666
• Market cap / volume: 0.02694
• 24 hour Low: $254.78
• 24 hour high: $271.61
• By market value: 5
• All-time low: $0.03981770
• All-time high: $51,524,670,760.82
BNB coin is listed on all cryptocurrency exchanges, and purchases and sales are made comfortably from there.
BNB Coin Burning
The BNB coin is listed on the Binance exchange and offers its users discounts on fees for buying and selling. It sees buying and selling pairs between cryptocurrencies. It is used in Binance DEX. Fees paid on Binance are burned in periodic order. It is removed from circulation and the quantity of supply is reduced. So its value is increased. Coins will continue to be burned so that Binance's supply is reduced from 200 million to 100 million.
BNB Coin Usage
BNB coin, on the other hand, enables participation in launchpad events similar to ICOs, ie initial coin offerings. The BNB coin was developed by Binance on a code-based basis and is used to pay gas fees on the smart contract platform Binance Smart Chain. It plays a central role in many DeFi applications. In this way, the similarity to the role found on Ethereum is mentioned. To buy BNB coins, you must have a virtual wallet. You can exchange cryptocurrencies with the addresses in this wallet. On the other hand, you can do your shopping comfortably. Binance coin transfer is done by asymmetric encryption and signing, and sending works are done. Transactions are announced within the network.
You can easily make sales transactions on exchanges to convert cryptocurrencies into cash. Binance coins are sold on the stock market and the real money amount is sent to people by EFT or money order.
How to Buy BNB?
You can buy BNB from Binance digital currency exchange via wire transfer or EFT, credit, debit card. You must first register with a cryptocurrency exchange of your choice. In our country, there are exchanges such as Paribu, Bitexen and Bitlo that carry out these works. After registering with one of these, you will need to transfer TL from a bank account opened in your name. After transferring money, come to the markets section and click on the BNB coin here, and the buy and sell section will come. By selecting the Buy here section, write the amount of TL you will purchase and click on the buy section and you will have made your purchase.
What Makes BNB Coin Special?
BNB Coin is a very high usage token as it is the native token of the BSC network, launched by Binance. It is used to access many cryptocurrencies on the BSC network. BNB coin, on the other hand, stands out as the network's own native cryptocurrency. Within the Binance platform, BNB coin offers its users the advantages of commission discounts on purchases and sales and participation in special events.
Where Will BNB Coin Be in the Future?
With the rise of the Binance exchange, BNB coin continues to make a difference among other exchange coins. The fact that it quickly reached 3-digit values had a shock effect in the crypto money community. Generally, it is normal to see 2 digits in exchange coins. Thanks to the BNB coin, this situation has disappeared.
Can BNB coin come to the first place in the future? You may think that since Bitcoin created this universe and is the most known coin by everyone, it will not lose its throne to anyone. No one knows at what level Bitcoin will be in the future, but institutional investors and enthusiastic crypto investors say it is the gold of the future for bitcoin. It will have the same effect on bitcoin in the future, as gold occupies a very important place in the world economy. Like gold, which often makes a difference in financing products, it seems like it will never lose its foothold in bitcoin.
Could BNB be your future Ethereum?
Every created coin has a topic that is talked about. People are commenting that the Ethereum of the future will be this coin. It should not be forgotten that Ethereum is the largest altcoin of this universe and the future of the coin is just like bitcoin. There are dozens of coins that a known coin with Bitcoin cannot compete with even if it is advertised.
In line with this trend that has been coming since 2017, most altcoins, which are interpreted as the ethereum of the future, will not even be traded in the market in 2022. But what happens in the cryptocurrency market is never known.
BNB coin Makes a Difference
BNB coin does not only trade on the binance exchange. Usually people had this perception: why list an exchange coin on another exchange and execute the trade? Binance CEO made this thought history and took action to list BNB on other exchanges.
In this way, BNB has made it clear that it is different from other exchange coins. Exchanges now list their own coins on other exchanges and continue to destroy this perception.
Another difference of the BNB coin is that it does not carry out its transactions over the ethereum network, as seen in other altcoins. The name of the network used to create its own ecosystem is called Binance Smart Chain.
Advantage of Listing on Binance
Being listed on Binance triggers the rise of coins. We are now seeing more listings of coins using the Binance Smart Chain network. Not only are the values of the coins competing, but networks and technologies are competing as well. However, the throne of Ethereum, the largest altcoin, may be displaced in the future.
Considering Binance's support over NFTs and metaverse, Solana and Ethereum participated in the race, and the values seem to continue to compete.