What is Binance Coin (BNB)? The coin inside its own stock market

binance coin

Binance is an exchange that is based on China, and that enables users to trade on various cryptocurrencies. The answer to what Binance Coin, is that Binance Coin (BNB) is the currency of Binance Platform.

Among coin stock markets, Binance stock market showed a very high rise in updates that it brought and new altcoins that it added. With this rise, the price of Binance Coin is increasing, and its investors have not regretted so far. This rise of BNB coin naturally attracted the attention of people.

 

 

 

How does Binance Coin work?

Binance Coin review
Binance Coin review

 

It runs on the Ethereum network (ERC-20). BNB is only traded on the Binance exchange. BNB will not be traded on any stock exchange outside of Binance. It is probably because of its nature and use. Therefore, the entire success of Binance will lead to continuous growth.

Where is Binance Coin coming from?

The first thing that we need to know is that Binance is presently the world’s most significant cryptocurrency exchange. Binance started everything with ICO, which is the first project of Binance. It had tried to create, with the community, a crypto exchange system that supports many languages and can be user-friendly. It started online trading in July 2017 in order to be the best on the stock exchange. The Binance platform has already been distributed to more than 30 stock exchanges. In 2018, it is planned to operate on a completely decentralized blockchain. The total supply is limited, and it is 200 million BNB. After 200 million BNB is reached, there will not be any coin to sell.

What are the features of Binance?

You can trade with all major trading partners (such as BTC, ETH, LTC, NEO) = eg BNB / BTC). It is a safe platform that offers multi-language, multi-device option, clean and advanced user interface. It includes all the features you need to use on a stock exchange. Only the stop-loss option was missing. They also released it in December. You can get what you expect from a support team. Especially the Telegram live support team is excellent. Your operation will be completed in a brief time. The stock exchange has a significant volume in the dual trade, especially NEO / BTC, GAS / BTC, ETH / BTC and BNB / BTC. According to the transaction volume of Binance.com, it firstly succeeded to be in the first 20, and then to be in the first 5. By offering both Basic and Advanced trading interfaces, it facilitates simple operations for beginners and allows professionals to access more complex options and tasks such as margin trading.

Who supports Binance?

What is Binance Coin
What is Binance Coin

Changpeng Zhao, who is CEO of Binance, which is managed by Beiji Technology, has extremely deep knowledge of finance, trade and block technologies.

The Binance Platform announced in August 2017 that Yi He, which is the founding partner of OKCoin, which is one of the world’s best stock exchanges, will participate in the platform. We can introduce Yi He as a popular crypto money mission. It is one of the most respected and most respected people in China’s online economy. After leaving OKCoin at the end of 2015, Yi was the Vice President of Yixia Technology. Later, in 2016, he founded YiZhiBo, a China-based publishing platform. When the news of Yi He’s participation in the Binance stock market came up, it was an exciting development for all investors. BinanceCoin’s value increased by 40% at the moment when participation was finalized.

What else do we need to know about Binance Exchange?

It uses a layered security system. It supports Web browsers, HTLM5, WeChat, and Android. The mobile platform for iOS is not available in the App Store. It has normally multi-language support; You can use Chinese, English, Japanese, Korean in Binance. Not only bitcoin, but you can also process the first entry by loading Ethereum, Litecoin to the platform. Of course, their currency Binance Coin (BNB) is a must. You can also buy coins from BNB. Binance has a very large subcategory. It has a few altcoins that are not elsewhere. One of the biggest advantages of Binance is that you can shoot up to 2 BTC a day without permission. The Binance Platform does not trade in real currency. All transactions are made in cryptocurrency. They just focus on the crypto trade. In addition to the information above, it emphasizes security, speed and customer service. Fiat is available on the stock exchange market accepting currency. You need to buy your bitcoins (or ETH, LTC) on those stock exchanges on the Binance Exchange. This is free.

What are the good and bad sides of Binance Coin for an investment?

BNB Coin page of Binance
BNB Coin page of Binance

THE POSITIVE SIDES

Speed

If you’ve used other exchanges before, you will see the difference in speed in a process. The engine underlying Binance, in fact, is as powerful as it can not be explained.

The founders

As we tried to mention above, the founders of the project are really talented in managing projects about finance. No one thinks that their power will extinct and they will go bankrupt. That’s why Binance feels in safe.

THE NEGATIVE SIDES

Limited Coins

As compared to other platforms willing to be the bests, Binance has a really limited selection of coins to trade. When you would like to have anything else outside of the list which they offer, Unfortunately, you will have to go somewhere else.

Slowly-Translated Documents

Binance is based in China and it means that its main language is automatically Chinese. When a new document including important information is released by the platform, its users, investments, programmers have to wait, perhaps, for a long time for documents to be translated from Chinese to other languages such as English, German and other languages used in the area of this trade.

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About the author

I am graduated from the faculty of communication. I have worked for major companies in the communication field, and acquire more than 12+ years of experience. I like to read empowering books, traveling and researching useful stuff on the internet. For a few years now, I have cultivated and developed a passion in the cryptocurrency world. I have decided to dedicate my time to create some posts on my blog about cryptocurrencies in general. Cryptocurrency World is growing fastly and will have longevity future however it has just born. I intend to improve myself on blockchain technology and share my knowledge.
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