The world famous cryptocurrency exchange Binance is China-based. However, as a result of the restrictions made against the crypto money sector in the People’s Republic of China, Binance has moved its headquarters to Malta by transitioning to the European continent. By launching BNB Coin and KAVA as its own cryptocurrency, Binance gives these tokens a great privilege in its stock exchange.
What is BNB Coin (Binance Coin)?
BNB Coin (BNB) is a cryptocurrency created by Binance. BNB has various usages mentioned below.
It is available for trading commission payments on Binance.
BNB can also be used in token sales made through Binance Launchpad.
In addition, suppliers now accept BNB as a method of payment, with an increasing number in the future.
The price of BNB was set as 1 BTC = 20,000 BNB. BNB, which has experienced a great rise since then, is currently trading as 0.00202085 BTC. BNB, priced at $19.85, ranks 9th in the crypto rankings according to CoinMarketCap data.
BNB, an ERC20 token traded on the Ethereum network, has an initial supply of 200 million in total. Half of this number was sold in the ICO. Half of the circulating BNB Coins will be destroyed with coin burning. You pay the commission fee for each BNB transaction you make on Binance. If you wish, you can pay this commission fee with the cryptocurrency you trade or you can take advantage of discounts using BNB Coin.
This discount in Binance’s commission rates will last for five years, decreasing every year. The discount rates are as shown below:
First Year: 50% discount
Second Year: 25% discount
Third Year: 12.5% discount
Fourth Year: 6.75% discount
Fifth Year: No discount
How to Buy BNB Coin
If you want to buy BNB Coin with Cointral, you can visit our Cointral branches and purchase BNB with the help of our expert staff, or you can buy BNB Coin online with your credit card at online.cointral.com. See this visual guide “BNB Coin” to learn step by step how to complete a purchase transaction using your credit card. In addition, you can order grams of gold with your BNB Coins on cointral.store, the new product of Cointral.