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Binance Coin (BNB)
Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name “Binance” is a combination of binary and finance.
Binance is known for its fast transaction processing as well as its low trading fees (0.1%). The Binance technology is capable of processing 1.4 million orders each second.
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.
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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.
The exchange was created by experienced professionals in the cryptocurrency space, and the most recognizable name behind this project is that of Changpeng Zhao, former CTO at OKCoin.
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after the 5 years of trade discounts and the 50% buyback, the token will have no value unless the third use (decentralized exchange) adds enough value to stand on its own.
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.
Based in China, so it’s unclear how recent regulatory actions by the Chinese government may impact the exchange
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