[Bybit: Cryptocurrency, NFT] What is BNB? Features and purchase method


Do you know the virtual currency called BNB? This coin is a crypto asset developed by Binance, one of the top cryptocurrency exchanges in the world, and is a coin that has gained considerable recognition in the world. BNB circulates as the key currency of Binance and has considerable value.

What is BNB?

BNB is a currency issued by the virtual currency exchange Binance. BNB functions as the base currency on Binance. Binance amortizes BNB every quarter, reducing the amount of coins in circulation. Against this background, the reality is that the value of BNB itself has not fallen easily. This BNB can also be purchased at Bybit. BNB’s current market capitalization price in 2023 is $252.67. The charts are currently trending upward both overseas and domestically. It is a coin that is comparable to USDT, so it is a recommended coin to start investing in.

Binance Home Page

Issue limit200,000,000

Features of BNB

BNB has the following characteristics: BNB has a large physical supply today, and the price is expected to rise to the highest level in the future. A big reason for this is that it is the base currency on Binance.

maintain scarcity

BNB is a token whose currency is being depreciated quarterly by Binance. Due to the process of incineration, the price of BNB is soaring each time. Since BNB has already reached the maximum number of coins issued, no new tokens will be supplied in the future. Therefore, it is said that the scarcity of the currency is high.

Increased sales on Binance

Binance also says that BNB will increase in value as sales increase. Binance failed to develop business in Japan and decided to withdraw, but it is expanding to Africa. In recent years, it has also expanded into Uganda and the Bermuda Islands, and is making progress in its development.

base currency

BNB is the base currency of Binance. Therefore, especially Binance users will definitely know the existence of this coin. As the value of Binance increases, so does the value of BNB.

low operating costs

BNB has the characteristics of low gas fee and excellent compatibility with Ethereum. Furthermore, in terms of running costs, BNB is cheaper than Ethereum. As the value of Ethereum has increased in recent years, the price of gas has also risen. More and more users are switching to BNB.

Half off transaction fees

One of the benefits of BNB is that trading fees are halved when trading on Binance. If you own coins, you can receive discounts on transaction fees, deposit/withdrawal fees, and more. This is pretty sweet news for Binance users. In addition to Bitcoin and Ethereum, BNB can also be used as a base currency on Binance.

How to buy BNB

BNB can also be purchased on Bybit. To purchase, you must first open a Bybit account. Please refer to the article below.

After logging in to Bybit, type “BNB” in the search window at the top. The BNB currency pair will be displayed, so let’s click on it.

Source : https://www.bybit.com/

The actual trading screen will be displayed. You can buy or sell by pressing the trade order button on the right side of the screen.

Source : https://www.bybit.com/