Welcome to our comprehensive cryptocurrency information website, where we delve into the exciting world of digital currencies and highlight the standout features of Binance Coin (BNB). As the native cryptocurrency of the Binance platform, one of the world’s largest cryptocurrency exchanges, BNB is designed to offer a multitude of benefits to its users.

BNB serves as a versatile utility token that enhances the trading experience on Binance by significantly reducing transaction fees. Users can enjoy a staggering 50% discount in the first year, gradually transitioning to lower discounts in subsequent years—25% in the second year, 12.5% in the third year, and 6.75% in the fourth year. After that, the discounts will cease, promoting BNB's long-term value proposition.

A key feature of BNB is its deflationary mechanism: through a buyback and burn program, Binance plans to repurchase up to 100 million BNB, reducing the total supply to 200 million coins. This strategy not only boosts the value of existing coins but also reinforces BNB's position as a sought-after asset.  

Beyond trading fee discounts, BNB opens doors to numerous other use cases, including participation in token sales on Binance Launchpad and payment for various services in the Binance ecosystem. This makes BNB an essential asset for anyone engaged in the cryptocurrency space.

By investing in BNB, users not only leverage significant savings on trading fees but also gain access to the innovative developments propelled by Binance, with its Malta headquarters steering a massive global presence. Stay informed with us as we guide you through the evolving landscape of cryptocurrencies, and discover why BNB is a compelling choice for traders and investors alike!

Binance Coin is the cryptocurrency of the <a href="https://www.coingecko.com/en/exchanges/binance">Binance</a> platform. It is a trading platform exclusively for cryptocurrencies. The name "Binance" is a combination of binary and finance.

Thus, the startup name shows that only cryptocurrencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing.

In total, there will only be 200 million BNBs. Binance uses the <a href="https://www.coingecko.com/en/coins/all?asset_platform_id=279">ERC20 token standard</a> from <a href="https://www.coingecko.com/en/coins/ethereum">Ethereum</a> and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees and others. Binance gives you a huge discount when fees are paid in BNB. 

The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount. This structure is used to incentivize users to buy BNB and do trades within Binance.

Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018. The coins are then burned. This means that they are devaluated to increase the value of the remaining coins. This benefits investors. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas.

Other tokens that are issued by exchanges include <a href="https://www.coingecko.com/en/coins/bibox-token">Bibox Token</a>, <a href="https://www.coingecko.com/en/coins/okb">OKB</a>, <a href="https://www.coingecko.com/en/coins/huobi-token">Huobi Token</a>, and more.

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