Binance Coin is a cryptocurrency that was released in 2017 by the world ’s leading crypto exchange of the same name. The coin is officially registered in Shanghai, China. The overall amount of produced coins is about 200.000.000. The coin’s name on the market is BNB.
Binance claims to bring together binary algorithms and finance. The cryptocurrency exchange is one of the most successful and profitable in the world today. In order to further evolve the project, the developers conducted an ICO. The BNB tokens can be used to pay all kind of fees and taxes.
The developers devised a special system to encourage people to use BN tokens. Binance.com offers the following discounts on their fees:
1st year= 50 % discount;
2nd year= 25 % discount;
3rd year= 12,5 % discount;
4th year= 6,75 % discount and
5th year= no discount.
The charge for each transaction is just 0,1% of the amount. So, by using Binance Coins significant reductions in fees can be achieved.
To facilitate the increase of BNB value, the Binance Company is going to purchase a certain amount of BNB tokens every quarter. The process will continue until the Binance returns back 50% of the total amount of tokens. It seems Binance Coins is going to surge this year.