Last Updated on November 10, 2020 by CryptoCreed
Binance is one of the top cryptocurrency exchanges according to CoinMarketCap. It is on top of the last many months and the BNB coin is following it.
Already have more than 3 million active members. It was founded by Changpeng Zhao in China but they have headquarters in Malta, Japan, and Taiwan.
In this article, you will get to know everything about Binance Coin aka BNB coin.
What Is Binance Coin?
Binance coin is the cryptocurrency launched by Binance exchange. It is the core part of the Binance ecosystem.
Binance Coin is also known as BNB Coin. BNB is the ticker or symbol of the Binance coin. It is the Ethereum based ERC20 token, so basically it is a BNB token.
There will be no more than 200 million total tokens and 50% of tokens will be burned.
It was launched through Initial Coin Offering (ICO) and within 20 days they raised around 1.5 million USD.
What Is Binance Coin Used For?
BNB coin is a vital part of the Binance ecosystem. BNB token is used on each service provided by the platform. Changpeng Zhao has a clear vision to put the BNB token on the list of top cryptocurrencies.
BNB currency currently used for transaction fees on the exchange, making store purchasing, staking, launchpad, and many more.
Also Read: List of Trusted Cryptocurrency Exchange
Also Read: How To start Ethereum Mining In 2020
Binance Coin Price
Now let’s have a look at the BNB coin price history and Binance coin price prediction. If we check the history then we will find that price of the token is growing very rapidly.
BNB coin starting price was 0.1 USD for 1 BNB. The current rate is 26$. Their all-time high (ATH) was 39.68$ in June 2019. And All-time low (ATL) was 0.03981$, which was just after ICO ended in Oct 2017.
For the live prices, you can visit coin-gecko’s website.
BNB Coin Price Prediction
According to some online reports says that the Binance coin price will be somewhere between 20$ to 22$. And some sites predicted that price in 2022-23 will be somewhere between 30$ to $35.
The forecast says the price of BNB will grow steadily, Binance coin prediction totally depends on the market and steps taken by the project.
Binance Fees Structure
The Binance fees structure is quite interesting. They have 10 levels of fee and at 0 Level you have to pay 0.1 makers/taker fee. And there is 25% Off on using BNB.
Binance Credit Card Fee
There is no fee on Binance’s credit card. You can also get 8% cashback on every purchase.
Where To Buy BNB Coin?
Should I Buy Binance Coin
Yes, definitely, who doesn’t want to invest in one of the leading exchanges and one of the most active CEO. But the question should be is this a good time to buy BNB coin? In crypto, there is no time. As a trader, you have to focus on the rates, not on time.
But if you are a Hodler then you might need to think twice before buying any cryptocurrency. While writing this article 1 BNB was worth 26$ and just after a few hours, 1 BNB went to the worth of 27.60$. So if someone has invested 2600$ a few hours back should get 2760$ just after a few hours. Here is a flat profit of 160$.
Is BNB coin a good investment? For now yes BNB is the best investment for the short term and as well for the long term too.
Binance Customer Care Number
According to some websites, the Binance phone number is 1-855-915-5087. But calling them on direct is might not possible.
Binance customer service number is getting change so I suggest using their website if you want to contact their customer service. There might be another Binance number which you can use.
How To Get Free BNB Coin
There are two ways to get a free Binance coin. They are free faucet and referral commission. You will earn a Binance coim from each referral trade.
BNB Coin Frequently Asked Question
Is it possible to start mining BNB coin?
No, this cryptocurrency is not mintable.
Which one is the best BNB coin explorer?
As it is ERC20 based token you can simply use Etherscan. There are other explorers like Bscscan and Mintscan.
Is Binance is a trusted exchange?
Till now there is no major issue faced by users so far they are trusted.