An ultimate guide to Binance coin

Today, there are more than 500 crypto exchange sites where users can buy, invest, and trade their crypto coins. Among these, Binance is the most popular crypto exchange platform in 2021 and one of the few that has its own native cryptocurrency.

Binance coin or BNB was initially run on the Ethereum blockchain before it became the trademark cryptocurrency of the Binance exchange platform through its own blockchain. From there, it rose in value and became one of the most popular exchange tokens today.

Whether you’re a beginner or a seasoned trader, all are welcome to try their hand at investing in the Binance coin. Find out everything about the top crypto exchange site’s own cryptocurrency here at BTC Post so you can start trading it today!

The history of Binance coin

The BNB coin began as an initial coin offering (ICO) with a capped supply of 200 million tokens that was divided among the founding team, angel investors, and public sale. It was also originally an ERC-20 token that ran on the Ethereum blockchain. However, in April 2019, this was replaced with BEP2 BNB on a 1:1 ratio after the Binance coin was removed from the Ethereum network and into the Binance Chain mainnet.

How does Binance coin work?

After moving from the Ethereum network, Binance coin now runs on its own blockchain called the Binance Chain. Its network design and security model of BNB uses the Tendermint Byzantine-fault-tolerant consensus mechanism (BFT) which features three different nodes to function:

1. Validator nodes – These choose which members of the community will validate transactions.
2. Witness nodes – Bear witness to the consensus and broadcasts the transactions across other nodes in the network.
3. Accelerator nodes – Work to make the transaction-verifying process faster and more efficient, thus making trading with BNB seamless.

Over time, Binance plans to burn 100 million tokens, half of its capped supply, to increase and stabilize the coin’s price and prevent the depreciation of its value.

Why should you invest in Binance coin?

Today, Binance coin holds a steady position as one of the top cryptocurrencies in the market. Its value rapidly grew towards the end of 2020 and is now at USD$234.32 with a market cap of $38 billion. Learn more about Binance coin and why you should invest in it below:

Binance coin has a good reputation

One of the reasons why people choose to invest in BNB is simply because it is the native cryptocurrency of Binance, which is currently the top crypto exchange site in the world.

Moreover, over the years, BNB has sustained constant growth since its launch in 2017. With a market capitalization of $38 billion, Binance coin is considered one of the safest cryptocurrencies out there.

Binance coin features low-cost transactions and discounts

Investing in Binance coin also features low-cost transactions. Aside from that, using BNB in the Binance exchange platform when trading qualifies you for special discounts you can use in your transactions on the website.

Moreover, you can also use BNB for entertainment purposes! This includes buying lottery tickets and even booking flights or hotels for a vacation.

Binance coin is seamless and easy to use

Binance coin is perfect for those looking for the optimal experience in trading digital assets on the Binance exchange site. Whether you are a beginner or a seasoned trader, BNB has many features specifically to make trading easier and more rewarding in the exchange platform.

The Binance exchange site itself is simple and easy to navigate. You can keep track of your digital assets and buy or sell with ease. Along with the low transaction costs, you can enjoy fast transactions completed within seconds anytime, anywhere.

What is Binance exchange and how can you trade with it?

Binance exchange is one of the largest and most popular cryptocurrency exchanges to date. It supports popular cryptocurrencies like Bitcoin, Ethereum, and its own trademark cryptocurrency, Binance coin.

It was established in 2017 by Changpeng Zhao and Yi He, who both worked in OKCoin before they collaborated to create their own platform. Today, the Binance exchange site has more than 13 million regular users.

Its trademark cryptocurrency BNB is also considered one of the top cryptocurrencies in the market. Find out how you can start trading BNB in its host crypto exchange site here:

Create an account

Before trading, you’ll need to make an account at the official Binance website first. Once you arrive at the page, click the ‘register’ button on the upper right side of the screen. From there, you can input the necessary information such as your email address and phone number.

The next step is to enable 2-factor authentication to ensure the security of your account. Afterwards, simply verify your account and you can already begin trading!

Deposit your digital assets

Once everything has been set up, you can now start depositing funds into your account. Start off by visiting the deposit page and clicking the ‘funds’ button on the upper right side of the screen. There you can choose the cryptocurrency you want to buy. For example, you can choose BNB and start transferring your funds.

Exchange, withdraw and deposit cryptocurrencies as needed

Explore the Binance website and check out the other features and services provided by the platform. If you’re new to Binance, you can try investing in Binance coin and experience first hand all the features it has to offer such as lower costs and reliability in making transactions. Invest in BNB today to get the best the crypto exchange site has to offer!

Invest in Binance coin today!

When it comes to growing their digital assets, crypto investors are always looking for the next best thing. Offering low-cost transactions, exclusive perks and an effective interface, Binance exchange and its native exchange token BNB delivers a seamless trading experience investors like you wouldn’t want to miss. Invest in Binance coin cryptocurrency today!