What Is Binance Coin? | Best Steps On How To Register For A Binance Account
Binance is a leading cryptocurrency exchange with over 10 million users worldwide. As one of the top exchanges by trading volume, Binance has become known for its high-quality services, user-friendly interface, and low fees. To achieve this, it uses its own in-house cryptocurrency: (BNB). Called the “ native token of the blockchain network”, this coin offers users several benefits when using the Binance platform. The coin can be used to pay lower fees on trades between users, receive discounts on trading fees, or pay for services that support BNB such as new token launches on the exchange. Users can buy, sell, and store their Binance Coins in a digital wallet like any other cryptocurrency.
Binance is one of the fastest-growing crypto exchanges in the world. In just a few months, Binance has grown to have more daily visitors than competitors like Kraken and Coinbase. Binance offers its users access to a variety of digital tokens, including its own native coin, known as “BNB”, or “Binance Coin.” So what is Binance Coin? And how can you get your hands on one? Keep reading to find out everything you need to know about BNB so that you can make an informed decision on whether or not you want to buy some for yourself!
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Binance is the world’s leading digital asset exchange. Founded in 2017 by Changpeng Zhao, Binance has grown explosively to become the go-to platform for savvy crypto traders. As a cryptocurrency exchange, Binance offers its users with a range of digital tokens to invest in. In this article, you will learn what is Binance Coin, its uses, and how you can get started with it on the Binance platform.
What Is Binance Coin?
Binance Coin is the native utility token of the Binance cryptocurrency exchange platform. It is a utility token that allows users to profit from the success of the Binance exchange platform by earning discounts on transaction fees on the Binance exchange platform. BNB can be traded against other leading digital assets on the Binance exchange platform. It is an ERC-20 token which means that it can be stored in any ERC-20 compatible digital wallet such as MyEtherWallet. The BNB token also has a fixed supply of 200 million tokens.
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Binance Coin is a profitable investment because of its high demand and low supply which makes it go up in value over time. Binance Coin (BNB) is a utility token used on the Binance exchange platform to avail discounted trading fees and to increase the value of the Binance Coin by driving growth. It is an ERC-20 token that can be stored in any ERC-20 compatible digital wallet. The Binance Coin has a fixed supply of 200 million coins. The Binance Coin also has a unique feature of burning BNB tokens if there is an increase in BNB token value.
Binance Coin (BNB)
Binance has grown from being just a cryptocurrency exchange platform to an ecosystem with its own utility token, (BNB). It’s one of the most popular and leading cryptocurrency exchanges in the world. With a user base of over 10 million users, it is also one of the fastest-growing digital asset trading platforms.
The Binance platform supports many leading digital assets such as Bitcoin, Ethereum, and their own native token known as Binance Coin. The company has been educating its users on what BNB is and how you can use it to your advantage by registering for an account and getting some BNB tokens. Let’s explore what is Binance Coin, its uses, and how you can get some BNB tokens today…
The Uses Of BNB
The Binance Coin is used as a trading fee on the Binance exchange platform. Traders who use BNB tokens to pay their trading fee will get a 50% discount on their trading fee. This is what makes the Binance Coin very profitable because of its low supply and high demand which makes it go up in value over time. Using Binance Coin to invest in Initial Coin offerings (ICO) on the Binance exchange platform is another use of Binance Coin.
Traders can buy ICO coins by paying with Binance Coin to get a discount on the ICO coins. Using Binance Coin to vote for new assets to be listed on the Binance exchange platform is another use of BNB tokens. Traders can vote for assets listed on the Binance exchange platform by paying with Binance Coin to get a discount from the voting fee.
Steps To Register For A Binance Account
There are two major ways that you can get yourself on the Binance platform; Sign up for an account by filling out the required details on the Binance website. This will require you to link your verified email account and phone number. The registration process takes less than a minute and you will get a confirmation email with your account details.
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Once you have your account, you can log in and buy Binance Coin tokens using your desired method of payment. The second way is by signing up using your Binance account and linking it to your phone number. This method is faster and more secure and you get a confirmation email with your account details within minutes. This will allow you to log into your account using your phone number.
How To Buy And Store BNB
Buying the Coin is easy and you can do it from any ERC-20 compatible digital wallet such as MyEtherWallet. Therefore, you can also buy the Coin on the Binance exchange platform. You can store your Coin in any ERC-20 compatible digital wallet such as MyEtherWallet. You can also store your Coin in your Binance exchange account.
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However, we recommend that you store your Binance Coin in a hardware wallet, as this is the safest way to store your digital assets. You can also buy Binance Coin using your credit card or debit card. You can simply sign up to Binance and link your credit card or debit card to your Binance account. Meanwhile, you can also use your Binance account to buy it using your credit card or debit card by clicking on the buy Binance Coin option on the Binance exchange platform.
Binance Coin (BNB) Benefit
Having BNB tokens in your Binance account will allow you to get a discount on trading fees. The discount percentage will depend on the amount of BNB tokens that you hold in your Binance account. And as the value of BNB tokens go up, so will your trading fee discount.
Binance Exchange Fee Discount
As the value of BNB tokens goes up in the market, the Binance exchange will burn some BNB tokens to keep their value consistent. This will lead to a decrease in the supply of BNB tokens. This will automatically make the Binance token more valuable. The more valuable Binance tokens are, the higher the discount percentage you will get on trading fees.
Binance Coin is a profitable investment because of its low supply and high demand which makes it go up in value over time. Having BNB tokens in your Binance account will allow you to get a discount on trading fees. The more valuable BNB tokens are, the higher the discount percentage you will get on trading fees. Binance exchange will burn BNB tokens from time to time to keep their value consistent.
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This will automatically make the Binance token more valuable. The Binance exchange is one of the most trusted digital assets trading platforms in the world. It has also grown from being just a cryptocurrency exchange platform to an ecosystem with its own utility token. Binance is a profitable investment because of its low supply and high demand which makes it go up in value over time.