Additionally, some apps allow users to divide expenses and pay family and friends with Binance Coin. Users might use Binance Coin as collateral for loans on several platforms. Transfers and loans: Another excellent usage of the Binance Coin is for loan purposes. It enables them to create a consistent payment experience for their customers while also allowing for additional payment method flexibility. Payment processing: BNB has rapidly become one of the most popular payment options for merchants.

Trading on the exchange: Based on the limits set by the exchange, BNB can be traded for other cryptocurrencies on different exchanges. Let's have a glance at how the Binance Coin is used. The Binance Coin has various uses beyond the Binance exchange, proving its worth in the crypto world. Binance utilises 20% of its earnings every quarter to purchase and permanently destroy Binance coins stored in its treasury.Binance Coin, which follows the ERC 20 standard and runs on the Ethereum network, is limited to 200 million BNB tokens.Binance Coin refers to a cryptocurrency introduced in July 2017 and trades under the symbol BNB.Binance Coin may also be traded for other cryptocurrencies like Litecoin, Ethereum, and Bitcoin. Most BNB purchases are made on the secondary market.įurthermore, BNB offers various valuable benefits to its users, like a discount on transaction fees as an incentive on the Binance Exchange. The native Binance Coin (BNB) price has also skyrocketed above $600 earlier this week followed by a massive DeFi activity on the Binance Smart Chain (BSC).In addition, the BNB market is where BNB is sold and purchased. Earlier on Monday, Binance announced its Q1 2021 results with 260% growth in traded volume and a 346% surge in users. To bring this feature to the market, Binance has collaborated with regulated German firm CM-Equity AG and Switzerland-based asset tokenization platform Digital Assets AG. The Binance Stock tokens trading feature is available for investors worldwide except for some restricted jurisdictions like Turkey, China, and the U.S. Courtesy: BinanceĬommenting on the new Binance Stock Tokes feature, Binance CEO ChangPeng Zhao said that it will further broader retail investors’ access to the liquidity market while creating a more “inclusive financial future”. As per the official Binance data, the TSLA/BUSD trading pair has clocked 6.6 million in volume. The TSLA/BUSD trading pair represents 1/100th of the TSLA stock’s market price. TSLA/BUSD trading pair went live on Monday. There’s been a strong market response after the Tesla/BUSD i.e. Good Market Response for the TSLA/BUSD Trading Pair On a large front, it bridges the gap between the crypto world and the traditional stock market. This allows small retail players to invest in companies that could be potentially very expensive to own and out of their reach. The Binance Stock tokens feature allows investors to own fractional stocks instead of buying the who quantity. Holders of stock tokens qualify for economic returns on the underlying shares, including potential dividends.” “Binance Stock Tokens are zero-commission digital tokens fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. Just two days back on Monday, Binance announced its zero-commission tradable stock tokens in the market.

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