Trade BNB - BNB Markets, Exchanges, Broker
The Binance Platform is a trading platform exclusively for crypto currencies. The name "Binance" is a combination of "binary" and "finance". In English, "binary" and "finance".
The startup thus expresses that only crypto currencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform reached within shortest time an enormous success and concentrates mainly on the Chinese market. The crypto currency currently has a market capital of 218 million US dollars, with 18 million US dollars traded daily.
The Binance Coin
The crypto currency of Binance (NBB) represents the token coin of Binance. There will only be a total of 200 million NBBs. Binance uses the ERC 20 Token Standard from Ethereum for the crypto currency.
NBBs should be distributed as follows. 50 % of the coins are sold in an ICO, 40 % go to the team and 10 % to Angel investors. Angel investors are investors who buy a lot of coins at once. The coin can be used to pay fees. These include trading fees, transaction fees, listing fees and others.
Binance advertises with a discount when fees are paid in NBB. There is a 50% discount on all fees in the first year of use, 25% in the second year, 12.5% in the third, 6.75% in the fourth and no discount after the fifth year. Binance also announced in a buyback plan that it would buy back up to 100 million NBBs.
The coins will then be burned. In other words, they are devalued so that the value of the remaining coins increases. This benefits investors. In future, the crypto currency will remain an asset on the trading platform and will be used as gas. A transaction costs a fee of 0.1% of the trading amount.
The Binance platform
As already mentioned, only crypto currency pairs can be traded on the platform. In addition to Bitcoin, Ethereum and Bitcoin Cash, QTUM Coin, NEO Coin or Iconomi can be traded on the trading platform. It is striking that many crypto currencies from the Asian region are traded.
This is obvious because the platform mainly operates in China. On the platform itself ICOs can be started or Coins can be placed, if they are not yet available. The platform recently launched the "Community Coin per month" campaign. Users of the platform can vote on which coins can be traded monthly without transaction fees.
Conclusion
Technical data on the Binance platform are not known. The Binance Platform trades exclusively in crypto currency pairs, whereby users of the Platform can register and trade crypto currencies independently. The website also offers the possibility of holding ICOs.
Each transaction costs a small fee, which can be paid in NBB. Since the platform is active in China and the website can be translated into several languages, transactions from abroad can take a while. It is not so easy to get through China's firewall.