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Binance Coin

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Binance Coin

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Binance coin

Binance Coin cryptocurrency is consistently among the various categories of users. This is a very interesting way to find out how to complete the framework.

So there is no need for it. There are no rules for the exchange of money and so on. It wasn’t surprising the phenomenon of the issuance of their own currency.

The emission of BNB tokens is limited to 200 million coins. This means that the total number of existing tokens can not exceed this indicator, however, at the same time, an interesting point is the fact that the creators intend to eliminate unused coins, and this will be carried out according to a certain schedule. This process has already been launched and in the first quarter, about one million BNBs did not become on the market. Reducing the number of available coins rightly attracts the attention of investors and ordinary traders.

Since BNB is the brainchild of the exchange of the same name, many users believe that the only place to store coins is the Binance marketplace itself. However, since BNB tokens are designed on the popular ERC20 standard, any wallet that supports this technology will be suitable for storing this currency. In addition, as practice shows, very often well-protected wallets are a safer storage than stock exchanges, which are prone to hacker attacks.

One of the unique features of BNB is the impossibility of mining, which is a disadvantage for a number of users. Thus, the only way to get tokens is to buy them. Obviously, the currency is in greatest demand among the clients of the Binance platform, on whose capacities most of the coins are concentrated, due to a very limited list of exchanges on which this currency is available. First of all, the concept of BNB is aimed at attracting new traders to the stock exchange, which is achieved by pleasant offers on reduced commissions, as well as the possibility of obtaining certain bonuses for those investors who buy tokens on Binance.

Having got acquainted in more detail with the coin Binance Coin, let's summarize and determine the main advantages and disadvantages of the BNB.

Benefits:

  1. Restricted issue
  2. Additional privileges for BNB holders at Binance

Disadvantages:

  1. The possibility of buying only a limited list of exchanges
  2. Impossibility of mining

Conclusion

If you’re a little bit bored of it, you can count on it. Tokens of limited interest to investors. For those players who are used to extract coins. Moreover, despite the ability to store BNB on multiple wallets that support the ERC20 standard, the currency can only be purchased in a few places. However, it’s possible to make sure that you can’t make it a bit more comfortable.

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