Author: changehero
April 29, 2019

BNB Mainnet and how it differs from BNB ERC-20 Binance Coin or BNB coin — is a native Binance coin. It used to be ERC20 token based on Ethereum blockchain and since 23rd April 2019 BNB migrated to Binance Chain and become the new blockchain’s native asset. The improved version of Binance Coin ‎‎(BNB) is expected […]

BNB Mainnet and how it differs from BNB ERC-20

Binance Coin or BNB coin — is a native Binance coin. It used to be ERC20 token based on Ethereum blockchain and since 23rd April 2019 BNB migrated to Binance Chain and become the new blockchain’s native asset.

The improved version of Binance Coin ‎‎(BNB) is expected to represent the motherboard that serves the entire Binance blockchain and serve as the foundation for Binance’s DEX (first of all, for decentralized BNB change to other tokens based on Binance Chain).

Binance Chain is supposed to do a much better job (speed, transaction fees, etc) than Ethereum. Binance team expects all of the regulated token offerings and ICOs moving forward to take place on Binance Chain as it simply provides a much better platform for these use cases.

How to Exchange BNB?

For users, who store BNB on Binance — BNB swap is an automatical process. Binance handled everything and coins are already swapped automatically;

BNB holders, who keep BNB ERC-20 in a cryptocurrency wallet, have to deposit it to Binance or another swap service to perform the token conversion within 90 days;

Another option is to swap BNB on instant exchanges like Changehero.io. It provides convenient SWAP service 1:1 and with 0% fee.

BNB Swap with ChangeHero is super easy, unlimited and fast! We don’t take any fees, and the rate it 1:1. That means you will receive exactly the same amount of BNB Mainnet coins as the amount of BNB ERC-20 you send us.

Exchange your BNB with ChangeHero

Here you can find step-by-step instruction, how to swap your BNB with ChangeHero:

First, put the amount of BNB ERC-20 tokens you want to swap to BNB Mainnet. You need to provide your BNB BEP2 Wallet address (where you want us to send your BNB Mainnet) and MEMO if you have it.

(Usually, MEMO is required, if you want to receive your BNB Mainnet to the exchange (like Binance) account. In this case, it is really important to provide it, otherwise, your coins could be lost):

changehero exchange interface

Then, make sure that all the data is correct, check the BNB Mainnet address and MEMO once again. Then, confirm the transaction:

Confirm transaction screen on changehero

After it, copy BNB ERC-20 address and send your BNB tokens there:

Deposit address for crypto exchange

Wait for 5–7 min for your BNB Mainnet arrival to your Wallet address:

exchange processing on changehero

Done! Find your BNB Mainnet coins at your wallet!

Go to ChangeHero now and exchange your BNB ERC-20 to BNB Mainnet BEP2 1:1 fast, with no fees and limits. Now you know how to exchange BNB the best way!

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Author: changehero
April 28, 2019

A few years ago, in the critical currency market, a new coin was able to combine the advantages of fiat money and the stability inherent in cryptocurrency projects. This digital coin has become Tether currency. At one time, analysts have proposed that this coin will be able to demonstrate a significant increase in popularity and […]

что такое usdt tether баннер

A few years ago, in the critical currency market, a new coin was able to combine the advantages of fiat money and the stability inherent in cryptocurrency projects. This digital coin has become Tether currency. At one time, analysts have proposed that this coin will be able to demonstrate a significant increase in popularity and market value, but now most of the news associated with this asset is of scandalous colour.

Therefore, it is necessary to get acquainted with this cryptocurrency in detail, and also to find out if the price goes up or down.

Tether (USDT) Price History

USDT cryptocurrency was created as a digital tool for linking fiat currency to cryptocurrency. It can be used as an alternative to the method of confirming the solvency. The crypto community has long discussed the need for such a tool, but it appeared only in 2015.

The head of the Tether company is at the same time the head of the largest cryptocurrency exchange Bitfinex — Jan Louis Van Der Velde. The software protocol developed by Jay Wylett, who previously created the ICO concept, was taken as the basis of the technology used by Tether. In early 2013, Jay developed an advanced protocol Mastercoin, later renamed as Omni. This protocol allowed to create new layers on chains of bitcoin blocks without making changes to the original program code. Such a solution enables the formation of new crypto-assets based on Bitcoin.

Tether and US Dollar
USDT links fiat currency to cryptocurrency

The beta version of the Tether platform was released in 2014. The project has managed to collect $200 million. This fact confirmed once again the interest of users to the new system. A stable version of the site was released in 2015. Looking into the past, we can fairly marvel at the success of Tether project. Indeed, as early as the beginning of 2017, the volume of funds providing the cryptoactive USDT was about $ 7 million. But already on September 15, the company’s account was $442.9 million.

Teter also caught one of the peaks of its value at the time of cryptocurrency recovery and as of January 2018 was equal to $1.04.

Tether price chart
USDT reached $1.4 in January 2018

Tether is supposed to be the digital equivalent of the US dollar. In fact, this cryptocurrency should always be equal to the US dollar, that is, 1 USDT = 1 USD. But is it truly so? The market capitalization of USDT had steadily decreased and recently rose up again during the last time, but due to the latest news, the Tether prices crashed down again.

The stable coin is not that stable yet. For most of the month, the USDT traded below the estimated cost of $1.00 per token, dropping to $0.97 on April 29, 2018. What could precede it?

Tether price graph
USDT dropped down to $0.97 on April 24, 2019

On April 24, 2019, Tether issued 300 million new USDT tokens. Attention to this information was drawn by Whale Alert, a popular service for tracking the movements of large amounts of cryptocurrencies on Twitter.

This data is confirmed by the transaction browser of the Omni protocol, which works on the basis of the bitcoin blockchain. Tether actually credited 300 million new USDTs to its vault. At the moment, it is not known exactly how the company will dispose of new tokens.

According to CoinMarketCap, the issue of USDT today is 2.827 billion tokens. Obviously, the new 300 million tokens is a substantial amount.

The release of a new portion of tokens on Omni looks somewhat strange against the background of plans for a partial transfer of USDT to the Tron blockchain and the addition of support for cryptocurrency by some exchanges. Some users suggested that adding a new blockchain to the USDT system would reduce the emission of a bitcoin-based token.

Tether (USDT) Popularity Trend

Nearly half a billion USDT stablecoins hit the market after the fall in the value of Bitcoin and other coins last November. According to CoinMarketCap, at the moment the number of stable tokens Tether is 2.2 billion, while in the period of market decline, their turnover was 1.7 billion — Bitcoinexchangeguide reports.

According to TrustNodes, the greatest demand for USDT is in China, where one Tether-dollar costs 7.08 yuan, while the Fiat rate is 6.7 yuan to 1 dollar. Large trading volumes are observed in Brazil and South Africa (mainly for international payments). Tether, on the other hand, said that to meet growing demand, the company prepared, but has not yet released another 2.5 billion crypto dollars to the market.

Google trends chart for "Tether"
Tether popularity map

It should be said that USDT is one of the most popular cryptocurrencies in trading pairs, especially with those coins, which can not be bought directly for Fiat.

What may affect Tether (USDT) potential price?

Cryptocurrency researcher Alex Kruger analyzed the situation around the Bitfinex exchange and its related companies and came to the conclusion that the stablecoin Tether (USDT) is provided with currency reserves only 75%.

Based on the information from official documents, Kruger in a series of tweets briefly describes the sequence of events around a well-known trading platform. The first thing he notes is that Bitfinex really had a “hole” of $850 million, formed at the end of last year.

Means “stuck” in third-party processing Crypto Capital. Representatives of the latter claim that they were confiscated by the authorities of several countries. After this statement, Bitfinex management suspected payment processing of fraud.

Alex Kruger on Bitfinex
Text excerpt about tether controversy
Alex Kruger concluded that Tether is provided with currency reserves only 75%

Kruger stresses that until November 2018, the USDT coins were fully backed by a fiat dollar. However, between November 2018 and March 2019, the Bitfinex Issuer of Stablecoins, Tether, transferred to the Stock Exchange $625 million.

According to CoinDesk, this was done “to solve problems with Bitfinex liquidity, not related to Tether”. Since then, the USDT has ceased to be fully backed by the fiat dollar.

Alex Kruger about Tether controversy

As a result, the analyst concluded that Tether stablecoins are currently backed up by 75% with cash and their equivalents, and by 25% with a loan secured by iFinex shares.

USDT Price Predictions

After the latest news, it is rarely easy to forecast the future of Tether. Nevertheless, some analysts keep guessing the USDT potential future. For instance, analyst JP (@jpthor__) agrees with Kruger’s conclusion that initially Tether was fully secured, but after problems with Bitfinex, it was backed up by only 75%.

User JP about Bitfinex and Tether

According to his note, if the prosecutor’s office in New York is busy with companies, then Bitfinex may cease to exist, but Tether will “survive”.

As for other independent crypto-researchers, Hasu has come to the conclusion that if Tether is provided with 75% of reserves, then Bitfinex can hardly boast such a margin of financial strength.

User Hasu about tether controversy

Earlier, ForkLog reported that investors panicked more than $300 million in Bitcoins and Ethereum.

Despite recent news, USDT is traded on almost all crypto exchanges and has already become a trading pair almost everywhere (like Bitcoin). It is always equal to the Dollar and therefore should not have big pumps, like other cryptocurrencies. The maximum drop on USDT/USD is not large. The growth of the coin could be only if your national currency falls strongly against the dollar. Simply put, waiting for the growth of the USDT is the same as waiting for the growth of the rates of the usual US dollar.

Whether to keep your money in USDT or not is up to you! With ChangeHero you can always buy and exchange your USDT without any limits in 5–7 minutes!

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Author: changehero
April 26, 2019

Binance exchange and Binance Coin (BNB) Binance is the first cryptocurrency exchange on the world by daily trading volume and Binance BNB is one of the most popular tokens in the crypto space. Binance remains one of the most trustworthy crypto exchanges, with over 150 coins listed and nearly $1.5 billion in crypto traded daily. Binance opens branches in […]

Binance exchange and Binance Coin (BNB)

Binance is the first cryptocurrency exchange on the world by daily trading volume and Binance BNB is one of the most popular tokens in the crypto space. Binance remains one of the most trustworthy crypto exchanges, with over 150 coins listed and nearly $1.5 billion in crypto traded daily.

Binance opens branches in different jurisdictions and has more users than the population of its headquarters country – Honk Kong, approximately 10 million. Changpeng “CZ” Zhao, its CEO, was recently featured on the cover of Forbes as one of the richest people in crypto, with an estimated net worth over $1 billion.

Just getting listed on Binance can provide a cryptocurrency with a temporary boost of 80% in market value. And being delisted from Binance is a black mark felt throughout the industry.

Top exchanges on CoinMarketCap
Binance is the leading exchange by daily trading volume

Binance ecosystem is based on BNB token that is also used within its exchange. In addition, it developed own blockchain (Binance Chain), incubator (Binance Labs), ICO platform (Binance Launchpad), charity arm (Binance Blockchain Charity Foundation), and crypto tracker (Binance Info). Binance recently invested in a decentralized banking concept and is actively seeking to disrupt multiple spaces within the financial sector.

Binance Coin (BNB) role on the crypto market

BNB used to be an ERC-20 token of the Binance exchange with a total supply of 192,443,301.

The Binance ICO was running out from 14 till 27 of July 2017, at which time 100 million BNB was sold, raising approximately $15 million. Nearly 5 million have been repurchased and burned by Binance. It plans to destroy the initial 100 million ICO tokens using 20% of quarterly profits four times a year to do so. You can find BNB burn plan here.

On Binance, the volume of BNB to BTC and USD is truly impressive. Back in November 2018, BNB was the 14th ranked altcoin, today in April 2019 it is ranked 7th. Binance Сoin raised up 5 times from November and 2,5 times from March.

Binance coin price chart for 2019
Binance Coin price chart

Obviously, the biggest use case for the BNB coin is a paying trading fee within the Binance exchange. The discount for using the BNB tokens to pay transaction fees started at 50% for the first year, and it’s currently at 25%. Next year it will drop to 12.5%, then 6.75% in year four. Then the discount for using BNB coin to pay transaction fees disappears.

BNB benefits and use cases

Binance always forming new partnerships and arrangements that will further enhance the use of BNB. Here is the sup up of all the currently available BNB use cases, in addition to the trading fee payment with discounts:

  • Using on blockchains integrated with Binance Coins: at the moment, BNB has ecosystem integrations with the blockchains of Qlink and Skycoin.
  • Spending on goods and services across many establishments: Binance have enabled various ways to use BNB to purchase goods and services over an increasing network of merchants and establishments;
  • Securing money in times of need: over the past year, Binance Coins were used for withdrawing cash on crypto ATMs via Zelaacoin, as well as securing loans through Nexo and selling crypto for cash through Dether;
  • Having fun with Binance Coins on social media services: social media has become a major part of the lives for a lot of people in the world, so Binance welcomed the use of BNB for various functions on innovative platforms;
  • Earning a salary: about 9 in 10 Binance employees receive a portion of their salaries in BNB;
  • Storing on various wallets: a lot of major crypto wallet makers have made it sure to integrate BNB in their wallets. Binance Coin can also be stored in wallets such as Trezor, Eidoo, Enjin, Jaxx, Ledger, Metal Vault, Blox, and Request Wallet;
  • Trading as an altcoin: right now, Binance Coin is trading in around 12 traditional exchanges and several instant exchanges, like ChangeHero, where BNB is available for purchase with the credit card via partners and crypto-to-crypto exchange:
ChangeHero exchange widget old version
You can trade BNB with 0% fee at ChangeHer

You can check all the services to use BNB here.

BNB Mainnet and how it differs from BNB ERC-20

Binance Coin or BNB coin used to be ERC20 token based on Ethereum blockchain and since 23rd April 2019 BNB migrated to Binance Chain and become the new blockchain’s native asset. The improved version of Binance Coin ‎‎(BNB) is expected to represent the motherboard that serves the entire Binance blockchain and serve as the foundation for Binance’s DEX (first of all, for decentralized BNB change to other tokens based on Binance Chain).

Binance Chain is supposed to do a much better job (speed, transaction fees, etc) than Ethereum. Binance team expects all of the regulated token offerings and ICOs moving forward to take place on Binance Chain as it simply provides a much better platform for these use cases.

BNB mainnet swap
BNB Mainnet swap

How to SWAP BNB?

BNB could be swapped three different ways:

  • Users, who store BNB on Binance, don’t need to do anything — Binance handled everything for them and coins are already swapped automatically;
  • BNB holders, who keep BNB ERC-20 in a cryptocurrency wallet, will eventually have to deposit it to Binance to perform the token conversion within 90 days;
  • Another option is to swap BNB on instant exchanges like ChangeHero. It provides convenient SWAP service 1:1 and with 0% fee. Will be launched soon.

Binance and BNB: from exchange to the community

Binance has gone a long way in the past few months. The exchange has been good at observing the crypto space and planning its own evolution accordingly. Binance has cemented itself in the crypto world like no other exchange so far.

The exchange plans to have at least two fiat-to-crypto exchanges on each continent. In the meantime, Binance continued working on its blockchain, Binance Chain, as well as on its decentralized version, Binance DEX, making the next step on towards crypto market decentralization.

All of these moves are only small parts of the bigger picture, however. The final goal is the transformation of Binance from a simple exchange to an entire community, where all of its subsidiaries and projects would be connected into a single, massive, Binance network. Of course, at the heart of it all sits the newly-launched Binance Chain, as well as its native token, Binance Coin.

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