Binance is a Chinese-based blockchain asset exchange.
Their exchange deals exclusively in coin-to-coin transactions, thus avoiding the scrutiny of Chinese regulators.
You can also launch ICOs through the platform. Binance recently completed the first ICO for a project called TRON (TRX).
As of right now Binance offers 13 cryptos you can buy in bitcoin and 12 you can buy with ether.
Fees range from 0.1% to 0.2%, depending on if you use the BNB coin to pay your commissions. If you do, it’s only 0.1%.
In addition to generating revenue from trading fees, Binance also earns from withdrawals, listings, ICOs, margin services, and potentially other services in the future.
Right now BNB trades around $2.30 with a market capitalization of $230 million.
There’s a total of 200 million BNB coins. Right now half are circulation. The other half is held by the team and angel advisers. Binance will use a portion of profits to buy back BNB tokens and has a goal of having the ultimate supply being 100 million coins.
One of the things I like about Binance is that Da Hongfei of NEO is an adviser.
Binance is one of the only places you can purchase GAS, which runs the NEO ecosystem.
I also like that Binance eventually wants to become a decentralized exchange. Decentralized exchanges are the future in my opinion.
Binance is a buy.
For more articles on cryptocurrencies follow me @g-dubs.
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Hey @g-dubs. Nice post.
I agree that Binance is a great project. Unfortunately, that does not necessarely mean that its coin (BNB) will thrive. BNB is not a share in Binance.
BTW, I have recently posted a theory about BNB's price, if you are interested.
Always open to new opinions. I checked out your piece and left a comment. And you have a new follower.
you forgot to say CME group they're valued at $52.6 B and they handle only $15.6 million a day. They have less accounts registered and they are only in the 12,000's most popular sites on Alexa rankings. Binance is #267. And 50% disount on fees is nice too.
I heard about it from my friend by really don't get what its purpose. Now, I conclude that this is a must buy coins.
Pure play on crypto exchanges!
so many coins out there...can you let us know in a month? pretty plz!!!
Sure I'll talk about BNB again.
I'm going to pick up some of those coins, heard about it for weeks!
Me too, the name Binance doesn't really describe what it is and it's based out of China. I'm glad I finally checked it out. I think it's a good long-term buy.
Someone mentioned them recently. Unfortunately, I could not understand everything. Something about 20% of binance is ethereum and a related trading strategy. I thought it was a lending type coin.
That's definitely not what I've been reading. This one worth another look.
Oh no! I am so sorry. I was thinking of bancor. :(
No worries... I know how it is... so many cryptos, so little time!
its definitely a buy
Agree 100%!
Worth the gamble
Yes!
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