Hey! Binance coin [BNB] soars 15% hike

Binance is a multi lingual cryptocurrency exchange in international financial market.

Initially the company was founded by Changpeng Zhao in Shanghai, China by the name of fusion system.

Fusion system built a high frequency trading system for brokers and therefore later he joined as the third member of crypto currency wallet named blockchin.info.

After serving in china for years the company moved its headquarters to japan in avance of the Chinese government ban on trading of crypto currency.

Binance has seen growth at a rapid rate. With about $6 billion assets trading within 24 hours binance is currently serving as world’s largest crypto currency exchange.

Crypto coin [BNB] which is being traded and used in exchange is also called Binance customer service phone number.

BNB is an ERC20 token which is built on ethereum.

The total supply of BNB is limited to 200 million, after this no more coins will be created.

BNB can be used to pay fees in the binance exchange. Although you can continue using the crypto currency in which you are exchanging to pay your fees. The advantage of using BNB is that it offers rebate as an incentive when payment is made in BNB.

BNB users fee is discounted by 50% in first year of membership. The fee discount decreases with every subsequent year of membership. This means that there is no longer fee discount for paying in BNB by the fifth year.

Zhao Changpeng built binance and led it to being world’s largest digital asset exchange in just 8 months. And today binance is considered as number one exchange.

He led binance to gain a profit of $200 million in its second quarter of existence. The net value of binance amounts to $1.762 billions in the last 24 hours.

Founder Zhao Changpeng claims that “ no decentralised exchange in the world is capable of handling our volume and none of them is as secure as we are.” Since the issue of initial coin offering [ICO] back in july, BNB have witnessed a soar growth from $10 to $13. And with a market capital of $1.443 billion it is now priced at $12.42.

With this Zhao Chanpeng also owns the biggest stake in the coins.  Therefore BNB is currently trading at $12.47 with a hike of 15%.

Japan’s securities regulator gave an official notice asking firms to stop operating in the country without license. Therefore, Zhao has abandoned his plans of building Japan as its base.

Zhao said that they have received 5000 applications for coin listing and their team only welcomes projects which have strong credibility, user base and liquidity.

He’s also very much sure that crypto is the future. For any query  Call at 1800-509-3075

With great success comes great criticism as well. As Singapore based fintech society’s president David Shin says “binance is like a van selling coffee in front of the office buildingwhile the legitimate coffee shopswhich are on the street suffer, the point is it lacks regulation and transparency.”

Zhao very well says that he has kept the exchange away from traditional system and regulatory requirements that engages currency only with cryptocurrency and not with fiat money.