![]() ![]() However, more importantly, it allows the Binance coin to benefit from the stability and safety of the Ethereum blockchain and network. This means that the coin also follows the rules set down by the community for the Ethereum blockchain. ![]() The Binance coin is what’s known as an altcoin, and when it was created it was based on the ERC-20 standard, using the Ethereum network and blockchain. dollar or Bitcoin.Įven so, the use case for the Binance coin is very valuable, and this is why we see the value of the token continue increasing. We have covered it extensively in our Binance Review.īinance coins are tokens used on the Binance platform, so even though they are traded on the open market and their value fluctuates, they are traditionally what you would think of as currency like the U.S. That means in less than a year they went from a brand new cryptocurrency exchange to overtake every other exchange and become the top global cryptocurrency exchange, with millions of registered users. What makes that particularly amazing is that the exchange has only just launched in mid-2017 – on Jto be exact. Before we can give you any insight into what the Binance coin is, we have to give you a quick overview of the exchange that it was issued by.īinance is currently the largest cryptocurrency exchange on the planet, with nearly $1bn in trading volume every single day. ![]()
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