Binance (BNB) is one of the world’s leading cryptocurrency exchanges. BNB coin is a cryptocurrency which can also be used as an intermediary exchange for money. Binance is a combination of two words ‘Binary’ and ‘Finance’, which was founded by Chang Peng Zhao in 2017. Beijie Technology is the holding technology which runs on Binance exchanges is headquartered in Hong Kong. There are many people who have helped in working on the growth of the platform in one of the most successful exchanges in the world.
The Binance ICO
ICO or initial coin offering was created to fund the creations of exchange platforms which can be developed by a token and help raise funds. The ICO lasts for a month which allowed them to raise $15 million. This money when into paying for the expenses which include things like hiring new developers, marketers and bolstering. The BNB token can be used to pay transaction fees which includes things like digital coins which will allow you to convert your Litecoins into Bitcoins without having to pay the transaction fee. BNB token was a very innovative creative which made the transaction fee rewarding with 50% discount. This is one of the reasons users used BNB to help but Bitcoin and other Altcoins to get some returns.
The BNB platform became one of the most brilliant exchange platforms, allowing to bring together millions of users. While the coin exchange space was being competitive, Binance rose to the top, making it one of the largest exchange with the help of volume traded.
How To Buy BNB Coins
Generally, people opt for BNB token in case, one owns another cryptocurrency or have to follow a process which you do not own a certain crypto coin. The procedure is quite simple and can allow you to exchange your coins for the value of BNB.
- Start by creating an account by getting registered and setting up your email address.
- Log in and click on the checkbox to help you understand the ways you can understand the exchange.
- Enable the 2-factor authentication, which will allow you to access the account anytime. This is one of the best ways to keep hackers away.
- Next step is to verify your account which will make it easier for you to withdraw your coins later.
- Now that you have everything started, you need to deposit your coins to the Binance.
- With depositing your coins into the exchange, you need to successfully deposit the funds which will allow you to exchange the coins into BNB.
- After, the proceeds you need to sell your ADA, XRP and BNB. This will allow you to use your percentages and calculate the money you will receive with the exchange.
The future of Binance (BNB) is quite well as it is an exchange with speed. The technology which powers Binance easily allows for more than 30 exchanges. When it comes to coins, it adds value to your wallet. These coins can be compelling and can easily provide you with good returns. It is important that you try to invest with something that you are comfortable to help with your overall investments.