Why is Binance so popular?

Binance is an extremely popular cryptocurrency exchange and token. Its success is fueled by speed, low fees, and sheer number of transactions. If a lot of people are using a platform, that means it’s easy to find buyers and sellers for the currency you’re after - known as liquidity. ByMatt Hussey Jan 22, 2019Jul 10, 2019 4 min read

What is Binance (BNB)?

Key Takeaways 1 Binance is an online exchange where users can trade cryptocurrencies. ... 2 Binance provides a crypto wallet for traders to store their electronic funds. 3 The exchange also has supporting services for users to earn interest or transact using cryptocurrencies. ... 4 Binance has its own blockchain-based token, Binance Coin (BNB).

What is Binance exchange?

The Binance Exchange is a leading cryptocurrency exchange founded in 2017 in Hong Kong. It features a strong focus on altcoin trading. Binance offers crypto-to-crypto trading in more than 600 cryptocurrencies and virtual tokens, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Dogecoin (DOGE), and its own token Binance Coin (BNB).

How does Binance coin work?

Binance Coin can be used to pay trading fees on the Binance exchange. For example, if you trade another cryptocurrency for bitcoin on the exchange, Binance will charge you a 0.1% trading fee. That’s how the company makes money. However, if you use Binance Coin to pay the fee, they will reward you by charging a lower fee.