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Binance & BNB Token Explained: Low Fees & More!

CoinGuyCoinGuy Administrator
edited February 21 in Altcoins
I know some of you are new to Binance, or some of you may have not yet signed up and are still using Bittrex or Poloneix for your altcoin trades. I have become a really big fan of Binance and it's my go to for most altcoin they list. And it's not only because they have an exchange fee of 0.1%. It's because of BNB.

What's BNB? It's a token created by Binance. Only 200MM BNB was created and it runs natively on the Ethereum blockchain with ERC 20.

Why should this matter to you? You can use BNB to reduce your trading fees up to 50%. Also if you hold BNB, Binance will use 20% of their profits to buy back and burn BNB, until 100MM BNB are burned. This means the value of your BNB tokens will also go up.

Also, in the future, Binance will build a decentralized exchange, where BNB will be used as one of the key base assets as well as gas to be spent.

Read the details here: https://support.binance.com/hc/en-us/articles/115000497111-Binance-Coin-BNB-
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