Binance Coin – Price, Historical Data & How to Buy

BNB
BNB
$ 611.29
0.00954440 BTC
Marketcap
$ 94,074,126,027
Volume (24h)
$ 1,708,247,418
Circulating Supply
153,856,150 BNB
Total Supply
153,856,150 BNB

Table of contents

What is BNB?

Binance Coin - Price, Historical Data & How to Buy

BNB is the native token of the Binance Chain blockchain and is used to pay fees on the Binance DEX exchange. BNB was originally issued as an ERC-20 token on the Ethereum blockchain and later migrated to its own Binance Chain blockchain. There are a total of 200 million BNB tokens, with 100 million being sold during the ICO and 100 million being retained by Binance. New BNB tokens are created through a process called “burning” in which Binance destroys a portion of its own BNB holdings.

BNB can be used to pay fees on the Binance DEX exchange, including trading fees, listing fees, and withdrawal fees. BNB can also be used to purchase goods and services on the Binance ecosystem, such as the Binance Academy educational platform.

Future of BNB

The future of BNB is looking bright as the Binance Chain blockchain continues to gain adoption and more dapps are built on top of it. Critics say that BNB is too centralized and that its long-term success is dependent on the success of Binance. However, BNB has shown itself to be a resilient and popular token, with a large and growing community behind it.

How to buy BNB

When you make a transaction with BNB, it is first sent to the blockchain where it is verified by miners. Once it is verified, the transaction is then stored in a block. Blocks are chained together to form the blockchain.

Now that you know how BNB transactions work, you’re ready to start buying! There are a few different exchanges where you can buy BNB, such as Binance, Kucoin, and Coinbase. Each exchange has its own process for buying BNB, so be sure to read the instructions carefully.

Once you’ve bought BNB, you can hold it in a wallet or trade it on an exchange. If you’re holding BNB for investment purposes, be sure to keep an eye on the market and watch for changes in the price of BNB.

BNB historical price – Line chart & candlestick

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Why use BNB?

BNB was originally created to be used as a native currency on the Binance exchange. However, it has since been adopted by a number of other exchanges and platforms as well.

BNB has a number of advantages over other cryptocurrencies. First, it is very fast and efficient to use for payments. BNB transactions are confirmed in just a few seconds, and there are no fees for international payments. Second, BNB is very safe to use. It is decentralized, meaning that no single entity controls it. Additionally, BNB is inflation-resistant, meaning that its value will not be degraded over time. Finally, BNB offers users the ability to remain anonymous if they so choose.

Overall, BNB is a very strong cryptocurrency that offers users a number of advantages. If you are looking for a fast, efficient, and safe crypto to use for payments, BNB is a great option.

Safety of BNB

Yes, it is safe to own BNB. However, there are potential problems and limitations in owning BNB. Your BNBs can be stolen or hacked. Additionally, BNB transactions are not anonymous and transparent. How is BNB protected? Does BNB have any dependencies on banks and other financial institutions?

These are all important questions to consider when determining whether or not BNB is right for you. Ultimately, it is up to you to decide if the risks are worth the potential rewards.

BNB calculator

Here you can calculate the value of BNB in all major fiat currencies.

BNB
USD

BNB – FAQ

Here we present the answers to some of the most frequently asked questions about BNB.

Can BNB be converted to cash?

Yes, Binance Coin (BNB) can be converted to cash. There are a few different ways to do this, depending on how you want to convert your BNB and what type of currency you want to receive.

One option is to use a cryptocurrency exchange that supports BNB. You can then sell your BNB for another cryptocurrency, like Bitcoin (BTC) or Ethereum (ETH), and then convert that cryptocurrency to cash.

Another option is to use a peer-to-peer (P2P) platform that allows you to sell BNB directly for fiat currency, like US dollars (USD). Once you’ve found a buyer and completed the sale, you can then withdraw the cash to your bank account.

Finally, if you’re looking for the quickest way to convert BNB to cash, you can use a service like Binance Coin Exchange (BCE). BCE allows you to instantly convert your BNB to USD, EUR, or GBP, and then withdraw the funds to your bank account.

No matter which method you choose, converting BNB to cash is a relatively simple process. Just be sure to do your research and choose a reputable platform or service to avoid any scams or fraud.

When was BNB created?

Binance Coin (BNB) was created in 2017. It is a cryptocurrency that is used to pay for fees on the Binance exchange. It can also be used to buy goods and services.