How much is 1 BNB?
How can I buy BNB?
Is BNB a good investment?
These are all very good and valid questions about Binance Coin (BNB) and we will try to answer all in this article.
The coin was developed by the founder of global cryptocurrency exchange Binance, Changpen Zhao, as a decentralised digital asset to power the ecosystem of the exchange. BNB now has a market capitalisation of xxx.
This article will look at everything you should know about Binance Coin and its future in the cryptocurrency market. Once you have read the article, you should understand what BNB is and how you can start trading it.
BNB was first distributed through an initial coin offering (ICO) on the Ethereum network as a utility token for lower trading fees in July 2017. SInce then, its uses have expanded to numerous applications, including payments for transaction fees (on the Binance Chain), travel bookings, entertainment, online services, and financial services.
In April 2019, BNB migrated from Ethereum to the Binance's own network, Binance Chain. BNB's market cap as of May 1st was over $63 billion ranking behind only Bitcoin, Ethereum, and USD Tether.
BNB Quick facts
In the cryptocurrency circles, the Binance platform is considered the best exchange globally in terms of trading volume and provides a trading platform for over 150 cryptocurrencies. The exchange launched its cryptocurrency to work in tandem, and the BNB coin price for one token $0.1started at $0.1 and has since risen tremendously in price.
Besides paying fees, investors and traders can use the BNB digital currency to invest in specific ICO offerings recognised by the Binance exchange and participate in initial exchange offerings (IEO) on the Binance Launchpad.
The Shiba Inu first surfaced in August 2020, created by an anonymous entity known simply as “Ryoshi”. Just like the situation with Bitcoin’s Satoshi Nakamoto, we have no idea about the creator’s true identity.
Shiba was created as an Altcoin of Dogecoin and went on to become very popular and is already insanely popular among major crypto exchanges through its following crowds, memes, persistence — and a cute dog. It was named after the Shiba Inu, a Japanese dog breed, the same breed present in the symbol for Dogecoin.
Shiba Inu is a decentralized, community-building cryptocurrency that is “an experiment” developed within the Shiba Inu Ecosystem.
Here are a few frequently asked questions relating to Binance Coin.
1. How many BNBs are there?
The Binance Coin cryptocurrency is fully diluted at 163,276,974. As a deflationary cryptocurrency, BNB’s circulation is set to be reduced to 100 million.
2. Is Binance Coin secure?
Binance Coin is secured through a network of 11 validation nodes. Though secure, this is a highly centralised validation network.
3. What was the highest price for BNB?
BNB hit an all time high of $686.31 on May 10, 2021
4. Is BNB worth holding?
BNB can be a great investment in 2022 for all long-term investors. Remember, it's a highly volatile cryptocurrency that can help you to maximize your profits in a short time, but at the same time, you can also lose a lot of money.
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