1 Level
16 Review
8 Karma
Review on Binance Coin by larueer kenbe
Hah im also in New Zealand, maybe i should of elaborated. The live chat…
Hah im also in New Zealand, maybe i should of elaborated. The live chat portion on their site is poor... or at least the two experiences i have had were. Their english was terrible and they kept replying over and over saying they did not know the answer and could not get anyone to find the answer
Pros
- Binance has issued its own token, BNB. This token can be used to pay any kind of fees incurred on the exchange. If you pay using BNB, you will receive a discount on the trading fee. Personally, I think that Binance has been the best exchange existing so far, as it is intuitive, reactive, and very good looking both on computers and mobile devices.
Cons
- The major problem we have with Binance is that the company is new and the project hasn’t been around long enough to actually prove itself.The two issues you raised at the end are tied to each other I believe. The BNB tokens received by the exchange for transaction cost can be seen as revenue similar to 0.1% transaction cost earned on coin transaction (assuming they do not use BNB). This revenue is then used to conduct their activities as stated in the white paper, marketing, expansion and repurchase of tokens. Whether they choose to buyback BNB on the market or burn the tokens they have on hand is obviously not transparent as you have stated. However the amount they are allowed to burn/buyback each quarter is supposedly fixed by their revenue.
