Are you checking out binance vs coinbase at Bitcoin Tester to figure out which one is the better cryptocurrency to choose? In the former, it is actually trades with BNB symbol. It’s supported by Ethereum blockchain coupled with ERC 20 standard and has a stricter limit of 200 million Binance token as its ceiling.
Understanding Binance Coin
Believe it or not, there’s a high expectation to Binance coin in fueling the operations of Binance exchange as well as its ecosystem. This is supporting several utilities on Binance environment that includes:
- Trading fees
- Listing fees
- Listing fees
In essence, all other fees that are under Binance exchange.
The first year of its launch provides 50 percent discount on trades via Binance coin and the percentage of discount is reduced by half every year. Meaning to say, on the following year of its opening, the discount is at 25 percent, on the year after that, it’s 12.5 percent, on fourth, its 6.25 percent – you get the idea.
Interested investors can take advantage of Binance coin as well to make investments in some ICOs that are listed under the Binance Launchpad program. New crypto will list on Binance exchange and the utilization of Binance will be offering a seamless marketplace for trading in wide variety of both new and established virtual tokens.
Why Binance is a Good Pick?
Apart from that, Binance platform offers a repurchase plan, under which it will be using 20 percent of its profits in buying back BNB tokens and also, destroy/burn them until a max of 50 percent or 100 million, Binance tokens are purchased back. This procedure will only leave 100 million tokens in circulation which helps in maintaining big value.
Giving Back to its Founders
Being consistent with the burning of coins along with increasing the buy percentage as per its scheduled plans is an indication that there’s great profitability at Binance’s exchange. The coin was introduced during the ICO or Initial Coin Offering back in July of 2017. It has offered 10 percent or an equivalent of 20 million Binance tokens to its angel investors, 40 percent or 80 million coins to founding team while the remaining 50 percent or 100 million is spread across the participants via the ICO process.
Nearly half of the funds raised throughout the ICO process were thought to be used for branding as well as marketing of Binance while approximately 1/3 were intended to build the platform and to perform upgrades to its ecosystem.