Binance is a crypto-exchange, founded in 2017 and located in Hong Kong. Binance became the most popular exchange in less than 7 months. According to the December report of Tech In Asia, the daily trading volume on the site is $ 500 million. However, representatives of Binance speak about a record $ 10 billion of daily turnover and about 40,000 transactions per second. The Exchange even closed the registration, unable to cope with the influx of new users.
The other day because of technical problems Binance went offline for a day, but many users noted that this is the only crypto-exchange, which every two hours reported on the state of affairs.
Separately it is worth mentioning the CEO of the exchange Zhao Changpeng. He is on the third place on the Forbes list of the richest people in the crypto industry.
Binance Coin (BNB)
Binance Coin (BNB) is a token based on Ethereum, which allows you to receive discounts when paying exchange fees and buy other Crypto-currencies on the Binance platform.
A total of 200 million BNBs were issued, with no additional emission. To maintain the value of the token, about 20% of the quarterly profit will be spent on buying out and burning Binance Coin until their number is reduced to 100 million. For two quarters, 2.8 million BNB tokens have already been burned.
With the growing popularity of the exchange, the cost of Binance Coin is also growing. Last September, BNB could be bought for $ 1. Now the price of the token fluctuates around $ 8. Buy Binance Coin can be on the Binance exchange and stored on purses that are compatible with ERC20 tokens.
It is obvious that at the current rate of growth in the number of users and with the developed procedure for burning tokens, in the coming year the price of BNB should grow. I hope that the exchange will no longer have serious technical problems, and the trust of users will not be undermined.