binancecoin

What is Binance Coin and how does it work?

Binance Coin (BNB) is the cryptocurrency founded by the Binance platform. The name ” Binance” is a combination of the words binary and finance. Binance coin was created in 2017 during the initial coin offering (ICO). BNB can be used to pay for the goods in many online stores. The main idea of Binance Coin is to reduce the trading fees on the Binance platform.

How Binance Coin works

You can use Binance Coin to lower the fees during the trading on the Binance platform. You can save up to 12.5% of the fees. Binance Coin works like for example Bitcoin, you will create an account in the online exchange (we recommend in this case Binance) and you will get your wallet number. After that, you can send or receive coins in the same way as, for example, Bitcoin.

Is Binance Coin worth to invest in 2020?

Of course, Binance Coin is a very interesting coin for crypto investors. We expect that the price of the Binance Coin will go up in the year 2020. For more information, you can read our article.

Where to buy the Binance Coin

We recommend you to purchase the Binance Coin directly through Binance platform. You can buy, sell or trade very much cryptocurrencies on Binance, including, BNB.

Binance Coin and trading

You can trade the Binance Coin on the Binance platform. Of course, we recommend you to learn the basic trading techniques in the trading because it could help you to prevent the big losses at the beginning if you are an inexperienced trader.

Binance Coin actual price

Actual price and the 24h price change of the Binance Coin you can find in the table below.

Name Price24H (%)
Binance Coin (BNB)
$16.47
4.80%

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1 thought on “What is Binance Coin and how does it work?”

  1. Pingback: Binance fees, payment methods and limits - 2020 review - We Hold Crypto

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