And the circulating supply was approximately 154,532,825 tokens. The Binance Launchpad is a platform for launching new blockchain projects and tokens. Many of the projects launched on the Launchpad are built on the Binance Smart Chain, which has helped to increase the network’s popularity and adoption. Very useful Coin Swapping exchange, Swap any coin to other coin, I normally used it for swapping my high value coins against small value coins… If you decide to make the BTC/BNB exchange, our price calculator will show you the estimated amount of Bitcoin you’ll receive. Specify how much Ethereum you want to swap and let our BTC to BNB converter do its job providing you with an approximate rate.
We also gather additional information from different sources to ensure we cover all necessary data or events. BSC aims to provide a high-performance blockchain that enables fast and low-cost transactions, making it suitable for decentralized finance (DeFi) applications and other use cases. BSC uses a Proof-of-Staked Authority (PoSA) consensus mechanism, which is a hybrid of Proof-of-Stake (PoS) and Proof-of-Authority (PoA) consensus mechanisms.
Exchanging Binance Coin: SwapSpace’s Video Tutorial
Despite how BNB is treated in certain parts of the world, there remains a risk that the regulators such as the SEC will deem the asset a security. The simple fact that the token was sold via ICO, and that Binance directly controls and profits from BNB, puts it at risk. Regulations governing cryptocurrencies vary by jurisdiction and may change over time, which could impact the legality and use of cryptocurrencies. If you are planning to trade crypto, please consult a financial adviser.
- The BNB will be funded into your account once you click the Proceed button.
- Thanks to the convenient mobile app, CEX.IO makes it easy for you to buy virtual currency from almost anywhere at any time.
- The network fee for every pair differs depending on the blockchain of the coin you are sending.
- Currently structured atop the Ethereum network, Binance Coin will soon be revamped.
- Binance coin initially ran on the Ethereum blockchain with ERC 20 standard but has since become the native coin of the Binance chain.
- It also makes sense to buy and trade the token here as you will receive the benefits of the BNB token such as discounts on trading fees.
The analysis of historical data allows a graphical representation of price changes. Instantly exchange Binance Coin at the best Smart Chain BNB exchange rate on ChangeNOW. Spend your time and energy on what matters — we’ll handle the rest. Think, for example, to the possibility of borrowing cryptos on YouHodler. By choosing this approach to the market, you will be able to take full advantage of the typical volatility in the sector. BNB was designed as an investment and as a payment method for fees on Binance.
List of all Binance Coin exchanges where you can buy, sell, trade BNB coin, sorted by trading volume
Funds raised in this proceeding were allotted for Binance branding, marketing, and platform development. Binance Coin is a native cryptocurrency issued by the Binance exchange, one of the largest crypto exchanges globally that facilitates over 1.4 million transactions per second. The crypto token has garnered support from other partnerships which has helped its usage spread.
- Established in 2013, Huobi Global has since become one of the world’s largest digital asset exchanges, with an accumulated trading volume of US $1 trillion.
- Select the crypto pair you’d like to exchange from 400+ available currencies.
- Binance Smart Chain (BSC) was founded by Changpeng Zhao (also known as CZ) and the team at Binance, one of the world’s largest cryptocurrency exchanges.
- Securities.io is committed to rigorous editorial standards.
- As of June 2023, Binance Exchange is the largest cryptocurrency exchange in the world, with a volume of $8.3 billion.
It now offers a varied range of services including a P2P exchange capability, and purchasing with credit or debit cards. In addition to its utility within the Binance platform, BNB crypto has also become an important part of the Binance Smart Chain ecosystem. For example, BNB is used as gas fees to pay for transactions and smart contract executions on the BSC network. BNB can also be used to participate in decentralized finance (DeFi) protocols on the BSC network, such as liquidity pools, yield farming, and other yield-generating strategies. To purchase BNB via mobile app, you just select the Buy option from the Buy/Sell menu.
New cryptocurrencies list on the Binance exchange, and the use of Binance provides a seamless marketplace for trading in a variety of established and new virtual tokens. Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing BNB (BNB) at Binance is lower fees than competing exchanges, and increased liquidity which will enable you to buy and sell quickly to take advantage of market moving news.
You can always check for the network fee and provider fee before initiating an exchange. Therefore, you will have complete information about the trade. EU requires that all transactions above 10BTC be subject to a KYC check.
Select the best rate
Every quarter, Binance uses one-fifth of its profits to repurchase and permanently destroy, or « burn, » Binance coins held in its treasury. Due to the popularity of Binance exchange, Binance Coin has grown along with it. This adoption has resulted in a need for custodial options, with a bevy of wallet services now supporting the asset. Bitget Located in Singapore and initially founded in 2018, they have regulatory licenses in USA and Canada, meaning citizens from both countries can access the platform. If trading with crypto, it’s not required for funds up to $50K. As of April 17, 2023, the total supply of Binance Coin (BNB) was 155,865,639 tokens.
I forgot to paste the message # for a swap, they immediately responded to my email and got the information needed to complete my transaction. Thank you very much David for fixing my mistake so promptly. This is the best service I’ve seen so far from any crypto related company.
Binance Coin (BNB) Uses, Support, and Market Cap
Currently, 21 Smart contracts validators are pre-approved and chosen by Binance itself that deal with the safety of the circulating supply. Binance Coin is the cryptocurrency issued by Binance exchange and trades with the BNB symbol. As of June 2023, Binance Exchange is the largest cryptocurrency ucash online exchange in the world, with a volume of $8.3 billion. KuCoin is a well-known name in the industry, and one of the most competitive when it comes to fees and trading costs. The exchange has grown exponentially from its early days of offering only crypto to crypto trading.
First of all, the consensus algorithm was changed from Delegated Proof of Stake (DPoS) to Proof of Staked Authority (PoSA), with BFT transformed into Tower BFT. One of the most important features of the BSC is its full compatibility with Ethereum’s EVM. Although 100 million Binance tokens were initially offered in the ICO, the current total supply is lower.