BNB — the core engine of the Binance ecosystem
Ladies and gentlemen, boys and girls, please give us your attention as we roll out the runway for the star of the show, Binance!
While we know Binance needs very little introduction, we couldn’t resist taking a moment to highlight this major player. Afterall, the world’s largest crypto exchange certainly deserves a moment of red carpet royalty.
This cryptocurrency exchange was founded in 2017 in Hong Kong. It has quickly grown to become the world’s largest crypto exchange by trading volume. Actually, the platform’s popularity grew so quickly and to such a great magnitude that they actually had to suspend registrations in January 2018. It’s no wonder Binance is where it is today, it was fated for success.
With years of success under its belt already, Binance is incredibly well established. In fact, it offers over 40+ fiat currencies as well as 300+ cryptocurrencies to customers all over the world. What’s even better? It has no deposit fees paired with extremely competitive trading fees (maximum 0.1%).
On top of low fees as well as a multitude of trading options, Binance offers multi-platform support. It is accessible through its web platform, mobile apps for Android and iOS, and desktop clients for macOS and Windows. Beyond that, you can make use of Binance API. Focused on building accessibility for its community, Binance has a dedicated help center that allows users to reach out to the support team. They also provide beginner guides and explanations of all sorts of exchange functions as well as crypto related matters. The platform’s ability to provide access for a wide range of crypto users is impressive and makes the platform stand out even more.
Binance keeps buying and selling easy! There are four main options to do this: Buy Cryptocurrency, Basic, Advanced and OTC.
To make things clear and concise, the “Buy Cryptocurrency” section is bright and simple. Users can swiftly select the desired digital coin for purchase and method of payment. It’s no different than a normal online transaction. This easily appeals to newbies in the investing space. No need to fear making a mistake on Binance, the platform will allow you to feel comfortable making a trade. For more sophisticated traders interested in charting functions, real-time price changes and different trade options, the “Basic” and “Advanced ‘’ options will be more your speed.
The fourth option, the OTC feature, waives fees for trades of at least $10,000. Users will, however, fork over the spread between the buy and sell price. Given its high minimum, this option is one to use with caution.
Another key feature of Binance is its partnership with Visa to offer a card where you can spend your crypto at 60 million merchants worldwide. Don’t worry, the card is free, void of administrative or processing fees. In fact, you can even receive up to 8% cashback on eligible purchases! This progressive feature and partnership has only pushed crypto closer to being a mainstream method of purchase!
Binance also offers a peer-to-peer exchange that allows users to trade crypto directly with each other on their own terms, in virtually any country. DeFi magic! Plus, the platform offers margin trading with up to 10x leverage, the ability to trade futures and derivatives, and to take loans. Let’s not forget the cherry on top, an NFT Marketplace!
Binance Coin — BNB
BNB was designed to be used to pay discounted fees on the Binance platform and also functions as the native token powering Binance Smart Chain. BNB can also be spent as a means of payment in various ways, such as paying for travels, credit card fees, gifts and more. The full list is available here
BNB has a max supply of 168,137,036 tokens with all currently in circulation. The token is currently listed at $487 and has a market cap of $81.673.349.359. The token hit its all time high on May 6, 2021 at $686.31.
Binance was founded by top crypto experts, Changpeng Zhao and Yi He. Both had worked previously at OKCoin exchange. Additionally, Changpeng had been a member of the Blockchain.com wallet team since 2013. They were certainly no strangers to the crypto sphere, it’s no wonder their platform has garnered such success!
You all know how we feel about Binance. It is a star within the industry and we know this is just the beginning as cryptocurrency progresses into the mainstream. BNB in fact plays a key role at BiShares funds, since most of our BSC funds can be minted with or redeemed to it!