Review on Binance Coin by wilfredo faria

Name: Binance Coin
Item: Binance Coin
Rating: 4

October 24, 2020

Binancecoin

with his great triumph in the world.  binance gave rise to its own exchance by creating its own digital currency, created for binance users, pay expenses within the trading platform binance rewards those who manipulate their cryptocurrency in significant discounts on the purchase and sale.  The virtual currency binancecoin is based on a token.  ERC20 being this the standard token of ethereum.  binance bases binancecoin on this ERC20 token using blockchain technology and has open source software, where the binance platform decides to issue 197,192,382 (BNB) of which 114,041,290 (BNB) is currently being used and circulating as  one of its goals of this cryptocurrency is that it be used for the payment of binance trading fees also used for transaction fee payments and listing fees.  Therefore, the digital currency binancecoin allows users to exchange or buy and sell (trading) like the rest of the cryptocurrencies on the platform.  taking into account that the digital currency of binancecoin cannot be mined like other cryptocurrencies in order to obtain this cryptocurrency or acquire it has to be through the exchange of other virtual currencies or purchases on its binance platform, users who have a large movement of  exchange virtual currencies in binance obtain.  (AIRDROPS) a reward in the form of free binancecoin.  This virtual currency can only be purchased in the binance exchance, so paying users through the binancecoin fees gives good discounts on the platform.  It is currently, with a scale of discount for commission payments for BNB cryptocurrencies which are.  In the first year the discount is 50% in all transactions and in the other years it decreases.  binancecoin was developed in 2017 by its CEO changpeng zhao in conjunction with co-founder and CTO Roger Wang.
﻿

Pros

It is good because you can only get this currency by trading or selling on the binance platform on your own platform.

Cons

but it is bad because since it is not mined it is a bit difficult to find it since you have to have another cryptocurrency to be able to get binancecoin