Binance Coin (BNBUSD)
Binance Coin is a cryptocurrency launched by the Binance crypto exchange. The exchange's users can use BNB coins to pay commission for transactions. What makes BNB more attractive than other cryptocurrencies is that it can reduce the commission for trades inside Binance's ecosystem. However, the discount will come to an end in 2022, the fifth year of the exchange's existence.
Binance Coin's issuance is 200 million tokens. There are plans to use 20% of Binance's quarterly profit to buy back and burn up to 50% (100 million coins) of the current issuance. As of the beginning of April 2021, over nine million tokens have already been burned.
BNB's capitalisation at the beginning of April 2021 was over $60 billion, putting it in 3rd place by market cap among the most liquid cryptocurrencies, behind only Bitcoin and Ethereum.
BNB tokens started trading on 27 June 2017. In just Q1 2021, BNBUSD increased more than eight times in value!
BNBUSD's average intraday volatility in 2020 was 6.8%.
Given the growth in Binance's turnover and the buyback to destroy tokens, we can predict a serious increase in the value of BNB in the near future.
How to buy and sell BNBUSD
You can buy and sell BNBUSD on specialised cryptocurrency exchanges, but the best way to trade it is through a broker or trading platforms, such as MetaTrader 4 or Libertex, where you can open and close positions much more easily, trade with leverage and even earn if the coin's value goes down.