Hello there,

Thank you very much, sir @yohan2on, for a fantastic lesson on altcoins in the second season of the Steemit Crypto Academy.

I'm concentrating on Binance coin for my homework today (BNB).

I believe that many of us have heard of, used, and possibly even own this coin.

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Binance Coin is a cryptocurrency that was launched in 2017. (BNB).

Binance coin, abbreviated as BNB, is a cryptocurrency created by the Binance exchange and traders. Binance Coin is based on the ETHEREUM blockchain and follows the ERC 20 standard, with a capacity of 200 million BNB tokens available.

Binance Coin is an ethereum-based cryptocurrency that has been explained in detail (BNB).

The banners coin is expected to power the Binance exchange's and ecosystem's operations.

It supports a variety of functions on the Binance ecosystem, including the payment of trading fees, exchange fees, listing fees, and any other Binance exchange fees.

The first year of the deal offers a 50% discount on trades using Binance Coin, with the discount amount halving per year after that.

That is, the second-year discount is 25%, the third-year discount is 12.5%, and the fourth-year discount is 6.25 percent, with the discount ending in the fifth year.

Binance coins may also be used to invest in certain ICOs that are listed on the Binance Launchpad programme.

Binance can list new cryptocurrencies, and its usage will provide a seamless platform for trading in a variety of existing and new virtual tokens.

The crypto token also received funding from the alliance, which aided in its adoption. It includes collaborations with Asia's leading high-end live video streaming site, UPlive, which offers virtual gifts for BNB tokrns to the platform's 20 million users. The website, mobile application, and the VISA debit card of Monaco, the pioneering payments and cryptocurrency platform, are also supported by Binance coin.

Binance also has a repurchase scheme, in which it will use 20% of profits to buy back BNB tokens and burn/destroy them until a maximum of 50%, or 100 million, BNB tokens are brought back.

Just 100 million BNB tokens will be left in circulation as a result of this operation, ensuring that the currency's value remains stable.

The Binance team revealed in mid-April 2018 that it had completed the burn of 2220314 BNB tokens (roughly $30 million).

The Binance exchange profitability is indicated by constant coin burns with a rise in percentage as per the scheduled plans.

In July 2017, the Binance coin was released as part of an initial coin offering (ICO).

Through the ICO operation, it provided 10% or 20 million BNB tokens to angle founders, 40% or 80 million tokens to the founding team, and the remaining 50% or 100 million tokens to the various participants.

Almost half of the funds raised during the ICO process were set aside for Binance branding and marketing, with the remaining one-third going toward the development of the Binance platform and other required improvements to the Binance ecosystem.

Binance coin had a market cap of around $1.4 billion in early April 2018. It does not currently offer exchange against currencies, and exchange in Binance coin is only possible through cryptocoins such as Bitcoin and the ETHER token.

Binance will become the native currency of the decentralised Binance exchange in the future.

What is the best way to purchase Binance coin? (BNB).

While vinash coin is not available on any exchange, there is a growing demand for it. You can buy Binance coin (BNB) by creating a Binance account at https://www.binance.com. Other exchanges, such as Poloiex, Kucoin, and others, can be used to purchase it.

Binance Coin is being burned (BNB).

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By purchasing and burning coins, the number of coins in circulation is reduced, enabling users to access only a small number of coins.

Binance intends to repurchase BNB and burn it on a quarterly basis. With 20% of its earnings, it will repurchase BNB. The BNB buyback and burning will continue until the total number of BNB in circulation reaches 100 million.

At the end of the day,

While none of these coins are influenced by Bitcoin, many of them have experienced a rise as a result of their utilities and uses cases, and BNB is one of these coins. BNB will be worth $3000 in the future, according to my projections, due to its growing and improving use cases as well as its burning. Altcoins would be able to do more than Bitcoin. BNB, in my view, has a promising future.

Regards:
Mazhar chishti

Cc:
@yohan2on
@kouba01
@steemcurator01
@steemcurator02
@steemitblog