Invest in Binance Coin



An Investment in Binance Coin

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Binance is relatively new to the cryptocurrency world, having launched July 11th of 2017. Despite that, it’s already become the largest crypto exchange, period. The Binance (Binary + Finance) coin, BNB, is based on Ethereum and is ranked as the 25th best cryptocurrency, which is no easy feat.

The cryptocoins are used to pay expenses and receive rebates on the Binance trading platform. This has raised some eyebrows. Exchanges do not usually offer their own cryptocurrencies that can’t be used elsewhere. The incentive is that BNBs can be used to reduce fees. However, Binance does support approximately 100 other virtual currencies for currency pair trading, so fees could be paid without BNB if desired. Note that fiat trades are not accepted.

Binance was founded by Changpeng Zhao, former CTO of OKCoin (another Chinese cryptocurrency). He’s more commonly known as CZ. A little after Binance launched, OKCoin cofounder Yi He joined the team.

Binance Coin Vs. Bitcoin

Total Amount of Coins:

Cryptocurrencies are limited as to how many tokens they can produce. Bitcoin offers a total supply of 21 million coins. BNB’s total supply is 197,192,382, though only 99,014,000 are currently in circulation.

Transaction Processing Speed:

The Bitcoin exchange can process 1.4 million transactions per second, compared to Bitcoin’s meager 3.1 transactions per second. This incredible speed is likely a huge part of why Binance has grown in popularity so rapidly.


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Binance Coin Price Chart