What Is Binance Coin (BNB)?

Fans and regular users who read the world news and know what cryptocurrencies are probably heard a lot about the popular trading platform Binance. But few people know the fact that Binance is the first cryptocurrency exchange that released its own coin called Binance Coin (BNB). Many people are wondering whether it is worth trusting a cryptocurrency that was created not so long ago. Today, we will talk about Binance Coin, its history, and its price. We will also try to answer the question of what Binance coin wallet is better to use to store cryptocurrencies.

Development of BNB

First, it is worth saying that this coin is based on Ethereum. The main purpose of its creation was to pay for services on the cryptocurrency exchange Binance. As stated by the developers, in the future, Binance should turn into a decentralized exchange of blockchain assets. Of the promises, it was also announced that all holders of such coins will have access to innovative features, which are planned to be implemented at the launch of a decentralized crypto exchange.

Binance Coin is an altcoin that does not have a unique blockchain. Unlike other similar coins, Binance Coin did not have any important goals and objectives to improve the world. Over 500 tokens were created on the Etherium platform, and owners can prioritize other cryptocurrencies on the Binance platform with these tokens. If you have BNB on your balance, you can pay a reduced commission of up to 0.05% with these coins (instead of the fixed commission of 0.1%) when making operations of buying and selling cryptocurrencies on the Binance cryptocurrency exchange.

Are There Any Other Platforms to Store and Trade Binance Coin? 

This crypto coin has gained frantic popularity, and it is one of the stable coins today. Its price to the dollar is $475.58. Tou can buy and store it on many crypto exchanges today, but we recommend you to choose Guarda because this platform has more than 1,000 assets available, and its wallets are reliable and trustworthy.

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