Binance Coin Price
Our Binance price chart displays the current price of Binance. Using our real-time market price chart, you can get the most accurate value of Binance today. Gold Buyers USA is here to provide live Binance current price along with the charts to show Binance historical prices. Beginners in the crypto realm are eager to learn more about the different cryptocurrencies as there is so much going on. This guide is for you if you have no prior knowledge of Binance.
Price Of Binance Coin
What is Binance Coin?
The Binance Coin, abbreviated as BNB, is a digital asset that may be traded mostly on the Binance crypto exchange as well as used to pay fees associated with trading. Over 1.4 million transactions are processed per second on the Binance Exchange, making it the most popular cryptocurrency exchange there in the world as of January 2018.
Binance Coin users are rewarded with reduced costs when making trades on the Binance Exchange. In addition to Bitcoin, Ethereum, Litecoin, etc., BNB can be bought and sold for other cryptocurrencies.
Since its inception in July 2017, Binance Coin has evolved from an ERC-20 token operating mostly on the Ethereum blockchain to native currency of Binance’s own blockchain, Binance Chain.
History of Binance
Without first discussing the background of the Binance exchange, it would be difficult to relate the tale of how the Binance Coin first came into being. The initial coin offering (ICO) for Binance Coin took place in July of 2017. As part of the initial coin offering (ICO), BNB tokens were distributed to a variety of individuals, including angel investors as well as the founding team of Binance.
The 100 million BNB units that were made accessible for public sale during the ICO were purchased for a price of 15 cents apiece. During this initial coin offering (ICO), Binance was able to raise a combined total of approximately $15 million in BTC plus Ethereum.
From the $15 million that was raised, 35% was used to enhance the Binance platform as well as an exchange system, 50% was utilized for Binance branding, marketing, and education of new innovators, and the residual 15% was set aside as a reserve for any emergencies and unusual circumstances arose in the future. During its initial coin offering (ICO) and the early days of its operation, BNB functioned as an ERC-20 token issued over the Ethereum blockchain. A few short days after the completion of its initial coin offering (ICO) in the middle of 2017, Binance launched its cryptocurrency exchange platform.
In 2019, Binance announced the launch of its own native blockchain, which it dubbed Binance Chain (BC). Along with BC, the blockchain also got its very own native coin: BNB. In 2019, users participated in a token swap that resulted in them receiving the brand-new BNB coin in return for their existing BNB ERC-20 tokens.
How does Binance Coin work?
Like other digital assets, BNB’s value increases and decreases as it is used and traded by the public. Binance Coin (BNB) can be stored and sent directly to other users of compatible wallets outside of cryptocurrency exchanges for the purposes of making payments or other transactions.
In addition to Binance’s own cryptocurrency exchange, there are a number of other places where people can purchase BNB. However, as always, it is your responsibility to learn about and follow the rules of the places where you live and work.
If we get into the nitty-gritty, BNB Chain is the result of a fusion between Binance’s layer-1 blockchain and the Ethereum blockchain.
Binance’s decentralized exchange (DEX), Binance DEX, is based on the BNB chain, which was created by optimizing the blockchain for on-chain trade. Furthermore, a blockchain gas token called BNB (short for “Build and Build”) powers BNB chain transactions.
Two separate chains, BNB beacon and BNB smart make up the BNB chain. The former prioritizes BNB Chain governance, which grants BNB holders the right to stake and vote. The second contains consensus layers, supports Ethereum Virtual Machine and can connect to other chains through its nodes.
Who should use the Binance coin?
For good reason, Binance is among the most popular cryptocurrency exchanges out there. Its low costs and wide selection of cryptocurrencies make it a popular choice for traders of all colors.
Binance.US, situated in San Francisco, caters to many, though not all, customers in the United States. It’s vital to remember that citizens of Hawaii, Idaho, New York, Texas, and Vermont are barred from using this cryptocurrency exchange. Despite these restrictions, Binance.US remains among the world’s top 10 cryptocurrency exchanges.
Less than half as many coins are available on the U.S. version of Binance as on the parent crypto exchange in other regions. The educational materials aren’t nearly as thorough. However, Binance.US still holds its own as a competitive platform due to its low spot trading fees and affordable instant-buy prices for newcomers.
Remember that cryptocurrencies are pure speculation and vulnerable to fluctuation on the least bit of news, so you should exercise extreme caution while purchasing them on any platform. Consequently, it is not advised by most experts that you put all of your money into them.
However, Binance is the place to go for cryptocurrency investors.
What is Highest Binance price till now?
On May 10, 2021, BNB reached a new all-time high price of $686.31.