Binance: $BNB The Future of Exchanges.

[Kwnagi]

What is BNB useful for? i know you get 50% off transaction fees for 1st year, 25% for second year
But
is it also like owning a share in the company??
If it is just transaction fee discount then i dont see how it is useful after 5 years when there is no discount in the transaction fee


If it is like owning a share, I would like to invest a small amount in it. Small amount because I dont have more money.

Can you guys give me a quick run down of what this BNB coin actually is used for? Is it for paying trading fees on their exchange? Seems like it could be a great idea, assuming total exchange volume continues to increase and people trade more.

Edit: Nevermind, just found this very helpful post. Thanks badpeanut

White Paper: https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf

Wallet: Its a ERC20 token

etherscan.io:

Token Address: 0xB8c77482e45F1F44dE1745F52C74426C631bDD52
Decimal Points: 18
Symbol: BNB



Repurchasing plan

Every quarter, we will use 20% of our profits to buy back BNB and destroy them, until
we buy 50% of all the BNB (100MM) back. All buy-back transactions will be
announced on the blockchain. We eventually will destroy 100MM BNB, leaving
100MM BNB remaining.

Decentralized Exchange

In the future, Binance will build a decentralized exchange, where BNB will be used as
one of the key base assets as well as gas to be spent.

[elektibi75]

At todays sale when everything is down I am going to put my money in BNB. Great potential returens right here!

Good move, we're up 15% in one day already. I'm excited for Sept 10 to see what they say at the conference.

What kind of conference will be on September 10th? I think I missed the news!

[epancis]

is it too late to get into this?

[Savik]

At todays sale when everything is down I am going to put my money in BNB. Great potential returens right here!

Good move, we're up 15% in one day already. I'm excited for Sept 10 to see what they say at the conference.

What kind of conference will be on September 10th? I think I missed the news!

Here:

http://www.bitkan.com/event?from=coindesk

Ceo of Binance will be speaking at 15:15. I know it isn't a long talk, but he is sharing the stage with some serious heavy hitters that day.

[Riuzan]

is it too late to get into this?

no, a lot of projects will be listed

[kronos123]

is it too late to get into this?

Point of view!
It's never too late if you think it can be worth $ 10 in the future, or $ 50 or $ 100 .... who can know it?

I believe that Binance exchange by the end of the year will be the third exchange, so BNB currency can only grow that much!

[Eiji.S]

Free trading fees have been extended to 27th August.

[Bonanzacoin]

is it too late to get into this?

I bought in higher couple days ago. It was close to $3 today, so there might be a bottom price right now. But look for urself.  

[TobyTheCat]

I'm going to try for the ETH -> TRON tomorrow. Hope it goes better. Otherwise, likely just going to sell and move on.

[V1saya]

$BNB the ONLY coin where you can invest in the exchange. This will be a top coin for chinese/international traders. Eventually it will only be 100M supply.

This is going to be bigger someday. The chinese are really playing a big role here considering that the market in china is very large. Binance exchange is already listing some coins that have prospects themselves. I have noticed Monaco as well as Dent are already listed in Binance Exchange.

[aziernest]

Looks like I caught the top at 67k satoshies....

that's because of their tron / bnb ico session.

it could go up even further, but they need to take steps, to make users happy. limit for icos should be applied.

[The Enoeht]

Will this be released on bittrex or polo? And any idea when?

[jono_t2000]

Will this be released on bittrex or polo? And any idea when?

I highly doubt it, why would an exchange create there very own coin and then let it be traded on other exchanges.

Binance would would want people to come to their own exchange to purchase BNB..

[rowenta01]

No BINANCE must be a decentralized exchange in a few months.

Today the BNBs are used to pay less fees (-50%) than if you do not use BNB to pay your fees.

So there is more volume and more people will use BNB to pay the minimum fees, and therefore buy a lot of BNB ..

[strohhirn]

Do I understand it right. I have 50$ fees, use one BNB and now have just to pay 25$.
Does it work like a 50% off coupon?

And is it really useful? I mean Kraken has also a fee token and I am not sure who use it.

[cryptogaga]

Free trading fees have been extended to 27th August.

The miscommunication about Free trading fees end date has been resolved now,
Binance will charge trading fees from 0:00 August 25 (Friday, Beijing Time).
The rate of trading fee is 0.1%. If you chose “using BNB to pay for fees”, you will get a 50% discount.

Sourc: https://binance.zendesk.com/hc/en-us/articles/115001258291

[rowenta01]

Do you have an account on Binance.com?

If you have one you will see how easy the use of the BNB token is.

With each purchase you can choose the method you want to use to pay your fees.

Very simple and incentive.

But for me it's just an asset among others.

[cryptogaga]

Do I understand it right. I have 50$ fees, use one BNB and now have just to pay 25$.
Does it work like a 50% off coupon?

And is it really useful? I mean Kraken has also a fee token and I am not sure who use it.

Yes you get 50% off fees, but according to your example using One BNB for 25$ discount would only be when 1 BNB is equal to 50$ which i dont think is going to happen soon or ever at all, so to get that 25$ worth of discount at the current price of 2.55$ per BNB you will be needing about 19.6 BNB!

You can turn on/off the button for “using BNB to pay for fees” in the user center.

[dineshary]

is this a good news or bad news for BNB

[vilns]

BNB is starting to drop down pretty quick. Hopefully sold half of them at good price, no just need to find bottom, to buy more