Binance Coin (BNB) Current Live Value
Real-Time Binance Coin Price Chart (BNB to GBP)
Binance Coin (BNB)
Binance Coin (BNB) is the cryptocurrency used to fuel operations on the Binance digital currency exchange. Binance is one of the largest cryptocurrency exchanges in the world based on trading volume. It does not use fiat currency at all, so instead it uses its own developed coin, BNB, to pay for transactions and transfer fees. This also allows the coin to act as a unit of account and medium of exchange on Binance, particularly for evaluating crypto-to-crypto trades according to some base value in BNB.
The value of Binance Coin has increased steadily since its launch in 2017 alongside the trading volume taking place on the exchange. The more that exchange users conduct transactions and, thereby, use the coin, the greater the demand for the coin and the greater its corresponding value. This digital currency has increased in value over 30 times since its ICO and maintained a steady pace of increase, making it a rarity among most boom and bust cryptocurrencies. It is now a top 10 digital currency by overall market cap.
Binance Coin can be exchanged for fiat currency on alternative exchanges that support fiat-to-crypto trades. In the future the owners of Binance hope to make it a completely decentralized exchange, making BNB the core unit of exchange and value on the platform.
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