Review on Binance Coin by Olugbenga Ajayi
Binance: Growing fast
Binance is a crypto exchange domiciled at Malta that provides a system for users to spot trade. Binance was ccoined from two word binary and finance. In June 2017, The company raised $15million in an initial coin offering (ICO) for it's native token, Binance coin (BNB). Since then the company has grown the platform to become the world's largest volume crypto exchange. The coin is based on ethereum block chain and similar to ether, the BNB token also fuels all operations on binance.com. Binance coin is used by users to pay the fees when trading other cryptocurrencies or digital assets on binance itself. Binance can not be mined as it was all premined during binance 's initial offering.
Pros
- High speed transaction
- Binance users get discounts with BNB coins
- BNB can be used to pay for binance exchange services
Cons
- Limited to binance exchange
- Binances buyback policy can reduce prices
New products
Comments (1)
May 02, 2020
Truely Binance is growing fast because more and more vendors are accepting BNB as a payment method also use in the payment of travelling expenses buy virtual gifts and much more. Binance (BNB) can also be used to participate in token sales hosted on the Binance Launch pad all these contributed to the growing fast of Binance. Binance really has a lot more for the future.
