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Binance Coin

0.00%

Market Cap (USD)

$91B

24H VOLUME (USD)

$14K

Daily change

$36

This is a BNB price chart. A price chart is a series of prices plotted over a given period.The graph's x-axis (horizontal axis) indicates the time scale, and the y-axis (vertical axis) represents the price scale. The most recent price index is on the far right.

Binance Coin (BNB) Price Chart

The price of a currency pair over a given period is displayed on a market chart. Using a live cryptocurrency market chart, you can monitor BNB (prior Binance Coin) prices over time, do price analysis and spot price trends, and see patterns to help you with your trading strategy.

One of the most popular chart types is the candlestick chart.

On a candlestick, the high-to-low range is displayed by a vertical line. The greater block or "body" indicates the price difference between the opening and closing prices.

Candlesticks make it simpler to see whether a market is bullish or bearish by displaying "bodies" in different colors. Red indicates a price drop, whereas green indicates an increase. These are calculated between the first and last trade of the selected period.

What is a BNB coin?

Previously, BNB was the cryptocurrency known as Binance Coin. Nowadays, it’s a BNB coin which trades under the same ticker, BNB, running on the BNB Chain or Build’N Build Chain, and is a product of the Binance ecosystem.

Understanding BNB

Initially using the ERC-20 standard on the Ethereum blockchain, Binance Token has since evolved into the native coin of the Binance chain. It was released in July 2017 as part of an initial coin offering (ICO) and had a strict cap of 200 million BNB tokens.

Ten percent, or 20 million BNB tokens, were made available to angel investors, 40%, or 80 million tokens, were made available to the founding team, and the remaining 50%, or 100 million tokens, were distributed to all other participants through the ICO process.

One-third of the cash raised during the ICO process went toward building the Binance platform and making necessary improvements to the Binance ecosystem. At the same time, the remaining two-thirds were allocated to branding and marketing for Binance.

BNB was initially based on the Ethereum network but is now the native currency of Binance's blockchain, the Binance chain.

One of the biggest cryptocurrencies

BNB ranked fifth in market capitalization as of May 28, 2022, behind only Bitcoin, Ethereum, USD Tether, and USD Coin.

BNB coin burning

Although 100 million BNB tokens were initially made available during the ICO, the current supply is less. To permanently destroy the BNB coins it has in its treasury or ”burn”,  BNB Chain uses one-fifth of quarterly revenues to repurchase them.

BNB Chain has periodically carried out these burning incidents. On April 15, 2021, they burned 1,099,888 BNB in total, amounting to $595,314,380 in USD value of tokens. It was the highest quarterly BNB burn the BNB Chain has ever experienced in terms of dollar amount. In 2022, BNB was had a total supply of 169,432,937 as opposed to 170,532,825 before.

BNB Chain uses and support

In 2017, Binance was developed as a utility token for lower trading commissions. But since then, various applications on different platforms have been added to its list of uses. Binance.com, Binance DEX, and Binance Chain use it to pay transaction fees. In 2022 the Binance chain was renamed to the BNB Chain. 

Additionally, BNB coin can be used to make payments (at locations like Crypto.com, Monetha, and HTC), reserve lodging for travel (at destinations like TravelbyBit, Trip.io, and Travala.com), participate in games of chance (virtual gifts, card packs, lotteries), pay for online services (BitTorrent, Canva, Storm), and even conduct financial transactions (take out a loan at ETHLend or make investments at Moeda).

Some ICOs listed through Binance's Launchpad program can be purchased using BNB coins. 

Other partnerships' backing for the cryptocurrency has aided the cryptocurrency's adoption. This includes a relationship with Uplive, the top live video streaming service in Asia, offering virtual gifts to Uplive's 20 million users in exchange for BNB tokens.

The platform, mobile app, and VISA debit card of Monaco, the industry-leading payments and cryptocurrency platform, all support BNB.

Binance smart chain

The Binance Smart Chain was processing up to 3.7 million daily transactions as of June 24, 2021; this was down from a record high of over 12 million daily transactions attained on May 14, 2021, but still, quadruple that of Ethereum. In 2022 the company decided to rename the network and it’s now the BNB Chain. 

What is BNB coin used for?

Beyond the Binance exchange, BNB has several uses, including the ability to:

  • Make credit card payments
  • Pay for travel arrangements (on select websites)
  • Buy virtual gifts
  • Process payments
  • Make investments
  • Make loans and transfers
  • Donate to charity

BNB coin history

Initially using the ERC-20 standard on the Ethereum blockchain, BNB coin has since evolved into the native coin of the BNB chain. It was released in July 2017 as part of an initial coin offering (ICO) and had a cap of 200 million BNB tokens. 

One-third of the cash raised during the ICO process went toward building the Binance platform and making improvements to the Binance ecosystem, while the remaining two-thirds were allocated to branding and marketing for Binance.

Who are the founders of BNB coin?

The founder and CEO of Binance is Changpeng Zhao, also known as CZ. Binance was founded in July 2017 and is a cryptocurrency exchange. Eleven days after the exchange's opening, it acquired $15 million through an ICO.

Additionally, Zhao established the blockchain network BNB Chain (formely known as the Binance Smart Chain), which aided in the growth of the decentralized finance.

Buy Binance-coin

How does BNB coin work?

The value of BNB fluctuates as it is used and traded, just like other digital assets available on the market. BNB can be held by users in suitable wallets off cryptocurrency exchanges and sent directly to others for payments or other purposes.

Additionally, how does one purchase a BNB? The coin can be purchased through various channels, such as the CEX.IO cryptocurrency exchange. But as usual, carefully look into and follow any relevant territorial laws.

Technically speaking, the Binance layer-1 blockchain is combined to create the BNB Chain (previously the Binance Smart Chain and the Binance Chain).

Binance's decentralized exchange (DEX) was built on the newly formed BNB chain, designed by Binance for the blockchain's best performance in terms of trading on-chain. BNB chain transactions are powered by the "Build and Build"-themed blockchain gas token (previously known as Binance Coin).

The BNB beacon chain and BNB Smart Chain make up the BNB chain. The former concentrates on the BNB Chain's governance, which enables BNB holders to participate in staking and voting. The latter is a consensus layer compatible with the Ethereum Virtual Machine and contains hubs for many chains.

Current BNB price index over time

The price action of BNB coin at the time of writing this (July 2022) has left the token's market capitalization at $38,461,672,571.18. So far, BNB has a change of -54.95%. BNB coin is classified under CoinDesk's Digital Asset Classification Standard (DACS).

BNB's all-time highest price as of May 2022 was $686.31, which was tallied on May 10, 2021. The surge in popularity of decentralized applications (dapps), such as decentralized finance (DeFi), on the Binance Smart Chain, probably caused the spike.

It is possible to build additional applications on the layer one network known as Binance Smart Chain (later rebranded as BNB Chain). It potentially poses a threat to the Ethereum network. Compared to Ethereum, it offers faster and less expensive transaction speeds, but it is more centralized.

Because the coin is required to pay transaction fees on the chain, the BNB Chain's success contributes to price increases of BNB. BNB coins are necessary for any user that wants to transact on the network. Binance has created a decentralized exchange on the BNB Chain in addition to its primary centralized business.

By market capitalization, BNB spent the majority of 2021–2022 as the third or fourth-largest cryptocurrency in the world. It is the fourth largest as of May 2022, behind Tether, Ethereum, and Bitcoin.

Binance produced tokens to raise money through an ICO (ICO). At the cost of 2,700 BNB for 1 ETH, the coins were sold during the first week of the ICO in July 2017. Since the sale included 100 million BNB, the maximum amount that could have been raised was 37,000 ETH or about $10 million at the time.

An additional 100 million BNB were held by the original group and angel investors collectively. In its original whitepaper, Binance suggested using 20% of its revenues to buy and remove BNB from circulation quarterly until the volume was reduced to 100 million. There are approximately 168 million BNB in circulation as of May 2022.

How to buy BNB coin with minimal effort

You have several options today when it comes to purchasing cryptocurrencies. You must first and foremost find a trustworthy crypto trading platform such as CEX.IO.

CEX.IO is:

  • Regulated and licensed in many locations
  • Supports a large number of cryptocurrencies
  • Provides an opportunity to earn crypto

After that, you can follow the steps below: 

  • Make an account

You need a valid email address and a solid password to create an account.

  • Verify your account

To transact, you'll need a valid ID and proof of address, so make sure you have these on hand. Depending on where you live, verifying your ID may take longer than a few minutes.

  • Navigate to the Instant Buy service

Hover over the Spot Trading tab from the upper left menu. Select "Instant Buy" from the list of dropdown options.

  • Select BNB coin from the list of assets

Click on the BTC ticker to open the assets menu. Select BNB from the dropdown list, and select the currency you wish to buy.

  • Enter the amount you want to buy

Enter the USD amount you want to spend using the number pad. The app will automatically convert that into money you can receive in BNB. Instead of entering your custom value, you can choose one pre-made value.

  • Finalize your purchase

Tap "Buy" when ready. You'll be shown the details of your purchase. Make sure to double-check the details and then confirm your purchase. That's it. You've bought BNB.

Where to buy BNB coin using debit/credit card

If you need a place where you can instantly buy bitcoin with a credit card, you can go to a crypto trading platform called CEX.IO. Here you can also buy BNBbuy BUSD coin, trade bitcoin to USD, and sell bitcoin. Of course, you always have access to live crypto prices 24 hours a day. 

CEX.IO regularly extends the list of available assets with new digital coins and tokens. The BNB coin is available for instant purchase and trading on the CEX.IO website and mobile app. That offers one more cryptocurrency option for users to better engage with the crypto space.

BNB coin price history

The value of the BNB is affected by numerous things. Like many cryptocurrencies, it had a fixed supply when it was first launched.

Sometimes, changes in the larger economy cause or result in fluctuations in the BNB exchange rate. For instance, despite the COVID-19 pandemic hurting economies worldwide, numerous cryptocurrencies achieved tremendous increases in 2020. This might the result of people using cryptocurrencies in response to poor national economies.

Government policies significantly influence the value of currencies like BNB. The crypto market can move upward or lower depending on tax laws, investment rules, mining limits, government intentions for legalized digital currencies, and other factors.

Newsmakers have a growing impact on cryptocurrency pricing. An item's price frequently increases when a billionaire businessman tweets praise for it. Celebrities are spreading the word about cryptocurrencies and NFTs to millions of social media followers. It is impossible to exaggerate the impact of these endorsements on cryptocurrency values.

Technical analysis is still valuable in cryptocurrency trading even if you don't have access to years' worth of historical price data on the BNB chart. For instance, there have been periods of extreme volatility and rapid price drops for various cryptocurrencies, followed by a steady march to new highs. Even though there is no guarantee that the pattern will persist, if it has been successful in the past, it could assist you with BNB price prediction.

FAQ

Can I buy BNB with a credit or debit card on CEX.IO?

At CEX.IO, you can use any Visa or Mastercard credit or debit card issued in any currency. The platform will automatically convert the cash you enter into the platform's supported options.

To buy crypto with your card, go to the Products or Spot Trading tab and select Instant Buy. Choose your card as your payment method, and you are all set.

What are the CEX.IO payment options?

At CEX.IO, you can deposit and withdraw funds using Visa and Mastercard credit and debit cards. You can also use wire transfer, Paypal, Google Pay, and Apple Pay. You need at least an Identity Verification level to deposit and withdraw funds.

Can I trade BNB to USD on CEX.IO?

Yes. CEX.IO has officially listed the BNB token in its list of assets.

  • Select Instant Buy or the Spot Trading tab.
  • Choose BNB from the list of assets. 
  • Select the amount you want to buy and proceed to purchase your BNB.

How to deposit and withdraw BNB at CEX.IO?

To withdraw BNB to your external wallet:

  • Open the Withdrawal page. Choose BNB as your withdrawal currency.
  • Enter the amount you want to send. 
  • Add your destination wallet address. 
  • Accept the Terms of Use, Refund Policy, and Payment Conditions.
  • Finally, confirm the operation with your confirmation code.

To deposit BNB:

  • Go to the Deposit page
  • Choose BNB as your deposit currency.
  • You'll see your BNB wallet address on CEX.IO. Next, use this wallet to send BNB from your external wallet to CEX.IO.

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