Bnb coin burn date 2020

Cryptocurrency exchange Binance today burned $68 million worth of its cryptocurrency, Binance Coin (BNB). The Malta-based exchange said. The coin burn destroyed 3,, BNB—an Ethereum-based ERC token used as a medium of exchange on Binance. The 12th quarterly.

The coin runs natively on the Ethereum blockchain and follows the ERC20 technical token bnb coin burn date 2020.

It is classified as a utility token and can be used on the Binance bnb coin burn date 2020. Holders of the BNB coin are referred to as Binancians.

Burning coins means taking them out of circulation and permanently destroying them. The bnb coin burn date 2020 is that it increases the value of the remaining coins left in circulation.

Every buy-back transaction bnb coin burn date 2020 by Binance is announced via the blockchain for transparency. The BNB token itself has multiple uses, essentially being the underlying gas that powers the Binance ecosystem.

In its whitepaper, Binance has outlined plans to offer annually decreasing discounts on fees for BNB users until its fifth year of operation. There have been several other real-world use cases for BNB since its launch.

In Monaco, which bnb coin burn date 2020 a Visa-branded credit card that converts cryptocurrencies into fiat payments, announced its plans to support BNB. BNB has become more usable for goods and services continue reading a growing number of brick and mortar establishments around the world.

Australian startup TravelbyBit, for example, has equipped more than establishments, including Brisbane Airport, with the ability to pay for goods and services using cryptocurrencies including BNB. The token is also being used as a payment method on platforms made by blockchain startups such as crypto point-of-sale solutions provider Pundi X, blockchain payments company Crypto.

Bnb coin burn date 2020 also states that about 9 in 10 of its employees receive a portion of their salaries in the BNB token.

• 6 Comments