Author: changehero
March 10, 2021

Even with all the regulatory attention Binance caught recently, they are still the most popular crypto ecosystem. The ChangeHero team collected the news, analytical insights and Binance Coin price prediction 2021 and beyond in this updated article. Binance Coin price prediction 2021–2030 Year Price forecast, $ 2021 431.58–1,300 2022 334–525 2023 765.10–1,025.42 2024 1,269.40–1,653.24 2025 […]

binance coin price prediction

Even with all the regulatory attention Binance caught recently, they are still the most popular crypto ecosystem. The ChangeHero team collected the news, analytical insights and Binance Coin price prediction 2021 and beyond in this updated article.

Binance Coin price prediction 2021–2030

Year Price forecast, $
2021 431.58–1,300
2022 334–525
2023 765.10–1,025.42
2024 1,269.40–1,653.24
2025 1,058.67–43,960
2030 6,989.16–8,736.45
  • Bullish Binance Coin price prediction 2021 claim the currency can hit $1,000 as soon as this year;
  • Binance Coin price prediction 2022 looks more realistic and promises ranges in the hundreds, between $334 and 525;
  • By 2025, the $1,000 mark is considered to be the price floor, and the highest BNB can go from there on is at an impressive mark of 100x at $43,690.
  • If Binance Coin is still around in 2030, it can be worth around $7–8 thousand or even more.

What is Binance Coin?

Binance coin logo
Source: Unhashed

Binance Coin (BNB) is a cryptocurrency developed for use within the ecosystem of the Binance cryptocurrency exchange. 
It was launched in 2017 in an ICO (Initial Coin Offering) on Ethereum to fund the launch of the exchange. Later, it migrated to its own blockchain called Binance Chain.
The primary use case for Binance Coin is to pay for the trading fees on the exchange. As the Binance platform grew, new use cases emerged. 
Now users can use their Binance Coins by funding IEOs on Binance Launchpad or paying for travel expenses on TravelByBit
In our Binance Coin Beginner’s Guide, you can find more info on the tech and history of BNB.

Binance Coin Price History

Binance Coin price in 2017–2019

bnb price 2018 2019
Source: CoinMarketCap

As an ICO, the tokens were sold for about $0.1. Just a month later, when the token was being traded on exchanges, the BNB price was already over $2.5. 
The Binance Coin launch coincided with the Bitcoin rally, and by 2018, BNB’s price skyrocketed to $22.63. Since then, Binance Coin’s price movements have somewhat diverged from the rest of the market. 
It experienced the bull market longer, from February up until June of 2018. Then the bears regained the initiative, and Binance Coin’s price went down to $6 by the end of the year.
By the time of the mainnet migration on April 23, 2019, Binance Coin’s price was $24.20. Then the price reached $39.57 on June 22, 2019.
While this is an example of how BNB defied the market-wide trend, crypto winter caught up to it, too. In the second half of 2019, it finished the year 180% down from the then-ATH at $13.57 per coin.

BNB Price in 2020–2021

bnb price 2020 2021
Source: CoinMarketCap

Binance Coin’s price in 2020 caught the post-crypto winter uptrend and went back up to $26.38 in February. Yet another crisis changed the course and took the price down to $6.96 when the market crashed in March.
The opening price of BNB in 2021 was about $37.67, which is 441.23% up from the March crash. This was only the beginning: Binance started to nurture the DeFi ecosystem on Binance Smart Chain. 
It exploded, and the BNB price followed it, pumping as high as $690.93 (May 10, 2021) — the current ATH. This rapid growth took Binance Coin to the third place in the crypto market capitalization ranks. 
At the time of writing, BNB is worth $439.60.

What influences the BNB price?

Binance Smart Chain

The main catalyst for the parabolic growth has been the DeFi boom on the Binance Smart Chain. Venus and PancakeSwap, decentralized exchanges on BSC, have a total value locked comparable with Uniswap and Aave. 
The BSC DEXs accumulated a $7.84B TVL in Q2 alone, while Uniswap and Aave had years.
Like Ethereum uses ETH, BSC uses BNB to pay for gas fees. Lower fees allowed Binance Coin to take the third place among all cryptocurrencies right now.

Quarterly burns

From the very beginning, 200 million BNB tokens were put into circulation but every three months a calculated amount of BNB is burned. This is set to continue until 100 million are burned and the total supply remaining is 100 million. 
On the one hand, reducing the supply increases the value of the remaining coins. Doing so in predictable time intervals won’t cause supply shock. 
On the other hand, the amounts burned so far constitute a small share of the total supply. In the sixteen burning events, only 32 million BNB out of 100 got burned.
In the latest BNB burn, the rate of burning has been ramped up. A total of 1,296,728 BNB, equivalent to $165,791,000 were erased from the supply.

Binance’s Regulatory Status

In 2021, Binance received multiple warnings about lack of authorization in several jurisdictions: Spain, United Kingdom, Malta and others. The “decentralized team” and lack of concrete registration did not help Binance to keep working worldwide, so they changed the strategy.
Binance will now employ stricter anti-money laundering measures and double-down on KYC. They have also hired KYC Compliance and Investigation specialists from the ranks of most experienced professionals.

Binance Coin on Twitter


The BNB-USD chart broke out above all moving averages, but user NFTeddy insists this is not the limit.


The Binance ecosystem now hosts hundreds of dApps. One of those, Spartan Protocol focuses on the cryptocurrencies native to this ecosystem, including BNB.


Binance and BNB have got new Twitter emojis to go with their hashtags. Only a few cryptocurrency hashtags, including Bitcoin, have them.

Binance Coin price prediction 2021

LongForecast Binance Coin price prediction 2021: $630

Using historic and technical analysis, LongForecast agency points at a $495 target at the year’s close. As far as this forecast is concerned, the rally peak will be seen in November at $630.

BraveNewCoin Binance Coin price prediction 2021: $1,200-1,300

Renowned technical analyst Josh Olszewicz gave a couple of insights into the price trends of Binance Coin. According to him, BNB is one of the coins with the real utility, and the BSC fees make it more attractive in comparison to Ethereum.
In a bullish scenario, which is in line with the sentiment prevailing on the market, BNB can go up to $1,200–1,300. Bearish scenario will see BNB at $50.

WalletInvestor Binance Coin price prediction 2021: $497.813

Slightly less bullish evaluation for Binance Coin is given by another service, WalletInvestor. BNB can close 2021 at anywhere between $431.58 and $576.06.

Binance Coin Price prediction 2022–2024

TradingBeasts Binance Coin price prediction 2022: $334–525

Some Binance Coin price predictions state that in the next few years the price will be growing. Others like the TradingBeasts’ forecast suggest a bit more grounded scenario. 
Their data shows a slow decrease with some fluctuations in a year, with the minimum of $334 and maximum at $525. 2022 will close with BNB costing $420.73 on average.

DigitalCoinPrice BNB price prediction 2023: $884.74

Let’s refer to a more forward-looking assessment than Binance Coin price prediction 2022. According to this prediction for 2023, the average price of BNB that year will total to $884.74.
Even the averages will be volatile, flooring at $765.10 and reaching $1,025.42.

WalletInvestor Binance Coin prediction 2024: $1,269–1,653

Throughout the year 2024, WalletInvestor claims, BNB will see an uptrend. Opening the year at $1,269.40 on average, by the end of the year BNB can change hands closer to $1,653.24.

Binance Coin Price Prediction 2025

DigitalCoinPrice Binance Coin price prediction: $1,298.60

binance coin price prediction 2025
Source: DigitalCoinPrice

In 2025, the price of Binance Coin will be fluctuating wildly, prediction-generating platform DigitalCoinPrice forecasts. 
The lowest price averages will be seen in March ($1,058.67) and October ($1,123.64). Meanwhile, in January the price of BNB is predicted to grow up to $1,453.30. 

Gov.capital Binance Coin price prediction: $1,123–1,429

Another price prediction web-platform gives a slightly less bold but bullish figure.  Gov.capital claims that in exactly five years from now, the price for a single BNB may be anywhere from $1,132.573 to $1,429.879.

Cryptogeek Binance Coin price prediction: $4,396–43,960

Cryptogeek writers speculate that in five years, Binance Coin can be worth ten or hundred times more than currently. This makes their estimate stand between $4,396 and $43,960.

Binance Coin Price Prediction 2030

The Cryptocurrency Price Prediction website theorizes that by the end of the decade, BNB will fluctuate between $6,989.16 and $8,736.45. This prediction is extremely bullish, but given how hard it is to give an accurate forecast, it might as well happen.

ChangeHero Prediction for Binance Coin

Most of the forecasts show a very bright future for BNB. Traders in their short and long-term predictions agree that Binance Coin’s fundamentals are strong. 
The forays into DeFi provide that investors can be sure in the future of the currency. We also find Binance Coin to be one of the most interesting coins out there which are guaranteed to succeed.

How to exchange BNB on ChangeHero?

By the way, did you know that you can exchange Binance Coin on ChangeHero? Swap it with other coins and tokens from our list, now is the time if you ask us!

Please note: Mainnet (Binance Chain) Binance Coin and Binance Smart Chain BNB have different tickers on our website: BNB and BNBBSC respectively. We will not be able to retrieve a transaction if you send assets on the wrong chain!

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives. The Best Rate transactions will use the rate current to the time when your funds arrive. The Fixed Rate will use the rate at the time of step 1;
  5. As soon as the exchange has been processed, your BNB is on the way to your wallet. 

ChangeHero’s customer support is available 24/7 in the chat on our website or through the email: [email protected].

Conclusion

Binance ecosystem development shows no signs of slowing down. The growth catalyst which made BNB’s way into the top three is DeFi. Who knows what else the Binance ecosystem can incorporate to keep BNB even more relevant?
We would love to hear your thoughts on the future of Binance Coin. Other articles in our blog can spark an equally interesting discussion, too! Feel free to follow our pages on social media: Twitter, Facebook, Reddit and in Telegram.


Disclaimer

This article does not constitute financial or investing advice. No price prediction or forecast is guaranteed to provide exact information on the future price. Past performance is not indicative of future results.

When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investitions in cryptocurrencies only after careful consideration and analysis and at your own risk.

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Frequently Asked Questions

[sc_fs_multi_faq headline-0=”h4″ question-0=”Is Binance coin a good investment 2021?” answer-0=”Most expert opinions agree that BNB is a good investment in 2021.” image-0=”” headline-1=”h4″ question-1=”What will Binance coin be worth in 2022?” answer-1=”In a year, BNB can be worth anywhere between $334 and $525.” image-1=”” headline-2=”h4″ question-2=”What will Binance coin be worth in 2025?” answer-2=”Estimates given for BNB in 2025 aim for $1,058.67 to $43,960.” image-2=”” headline-3=”h4″ question-3=”What will Binance coin be worth in 2030?” answer-3=”Estimates given for BNB in 2030 aim for the range of $6,989.16 to $8,736.45.” image-3=”” headline-4=”h4″ question-4=”What is the future of BNB coin?” answer-4=”Most analysts agree that BNB has strong value, a solid use case, and shows no signs of slowing down.” image-4=”” count=”5″ html=”true” css_class=””]

Author: changehero
May 1, 2020

Binance is, without doubt, one of the largest names in the industry these days. It is not only an exchange, but an ever-growing ecosystem of products and applications that utilize cryptocurrencies. One of the key components of this system is Binance Coin or BNB, and in this guide, we are going to tell you about […]

What is Binance Coin (BNB)? A beginner's guide by ChangeHero

Binance is, without doubt, one of the largest names in the industry these days. It is not only an exchange, but an ever-growing ecosystem of products and applications that utilize cryptocurrencies. One of the key components of this system is Binance Coin or BNB, and in this guide, we are going to tell you about its significance not only within its system but for the whole market as well.

What is Binance Coin (BNB)?

By definition, Binance Coin (BNB) is a coin native to the Binance Chain. As a native currency, it powers the ecosystem: BNB has its uses on Binance Exchange, DEX, Launchpad and other applications. 

How BNB started

ICO for Binance Coin ran through July 2 to July 21, 2017, simultaneously to the opening of Binance Exchange, and raised $15 million USD. Initially, it was an ERC-20 token, and the mainnet migration happened in April, 2019.
The success of the whole Binance Ecosystem could not be imagined without the team behind it and their intense marketing and expansion efforts. Of all the funds raised through ICO, only 35% were allocated to building the platform in contrast to the whole 50% that would be directed to brand development.
The most well-known person from Binance team is its CEO, Changpeng Zhao, also known as CZ. Before launching Binance, he has been a CEO at BijieTech, cloud-based exchange provider, CTO at OKCoin and Head of Technology at Blockchain.info. Other equally experienced members of the team include Roger Wang, CTO, who has worked in Nomura Securities and Morgan Stanley, and James Hofbauer, Chief Architect.

Binance Angels community
Binance ambassadors, Angels; Source: Twitter

The team has a significant online presence, most notably, on Twitter, as well as a community of ambassadors. And as we know, any news can be an external influence to the market movements. With the ever-growing list of integrations and new products by Binance, the general sentiment around the coin is bullish, as people expect more use cases to emerge for BNB and more utility.

What is Binance Chain?

Binance Chain is a blockchain mainly dedicated to supporting Binance DEX (Decentralized Exchange). It was developed to overcome the hurdles that hindered DEX adoption: slow transaction times (Binance Chain block time is only one second), and liquidity issues (by the time of migration to BEP2, BNB has already been in the top 10 coins by market capitalization).
The network uses Tendermint consensus, running on an application layer. Nodes in the network are categorized into validators that vote on block production, and witnesses that participate in the witness consensus process. Though the block size is limited at 1 MB, scalability is not a problem thanks to swift propagation rate.
Binance Chain itself doesn’t have programmable extendibility, or simply speaking, does not support smart contracts and virtual machines. This was a design choice, since these features can slow the network down. However, a solution in the form of Binance Smart Chain, a parallel to the main blockchain, is under development, which is a proof of community coming up with ways to improve the network.

BNB Burn

A noteworthy feature of BNB is quarterly burning. Instead of reducing emission, a certain amount of existing BNB is burned every three months to increase scarcity and add to the value of remaining coins. The amount burned is determined by the volume of trades made on Binance, and the events will continue until 50% of total supply of issued BNB – 100 million – is burned.
However, experts claim that right now there is hardly any correlation between the price dynamics and the burn events. Perhaps, it has to do with the fact that while the burns involve really impressive sums, it amounts to little in the big picture. For example, the most recent April 2020 burn has eliminated 3,373,988 BNB from the circulation, $52.5 million USD, and was the largest one in the history of Binance Coin, but ultimately it was just 1.69% of total supply.

Use Cases for Binance Coin

  • The main use case for Binance Coin is to pay various fees on Binance Exchange with a discount;
  • It powers Binance DEX by being a means of payment for smart contract executions and validator rewards;
  • On Binance Launchpad, you can gain early access to Initial Exchange Offering (IEOs) held on the platform.

With the recent announcement of Binance Card, BNB has checked a massively important use case off its list — purchases with crypto in any store that accepts Visa payments. Bundle is another recent addition to the roster of products in the ecosystem that marks the same checkbox of real-world use for Binance Coin.

Future Plans for BNB

Binance is going to bring on board even more fiat currencies and markets: the already mentioned Bundle is targeted at African crypto-community. The improvement proposals for Binance Smart Chain, or “Binance Chain 2.0” as CZ dubbed it, will increase the network capacities. The platform development is not stopping, which means good news for Binance Coin, for sure.

BNB Price Performance

Binance Price Chart 2017 to 2020
Source: CoinMarketCap

Historically, BNB has been moving in sync with the market as a whole and BTC in particular: on the graph we can see how it was affected by the so-called Crypto Winter of 2018, continuing into early 2019. The first half of the year was a period of impressive growth, as BNB was expanding its presence on different exchanges and finally migrated to its own chain. The subsequent corrections happened under the influence of Bitcoin price and market movement.

Where to Keep

Binance coin on Exodus wallet
Source: Exodus

BNB is supported in most popular wallets, like Atomic Wallet, Guarda and Enjin Wallet. In some, like Exodus and Magnum, you can not only store Binance Coin, but also exchange it thanks to ChangeHero integration. And, of course, the best option to keep your funds secure would be a hardware wallet: Binance Chain is supported by CoolWallet and Ledger.

Where to Spend Binance Coin

A variety of online stores and gateways accept BNB. Any merchant that uses Coinify, CoinGate or CoinPayments, for example, has the option to accept it. You can book accommodation in Travala, Trip.io or TravelbyBit, get a cloud server on CenterServ, use it as collateral for loans on Nexo and ETHLend, and get in-game valuables in Decentraland, Axie Infinity and Steemmonster.
Did we mention that ChangeHero supports exchanges to and from BNB? Try it now for swift, secure and hassle-free exchange experience.

Summary

Binance Coin is definitely the currency to keep an eye on, since it has been in Top 10 for the most of its history, consistently shown positive growth and is backed by one of the largest and rapidly developing crypto enterprises. Besides, it is technologically sound and is constantly improving thanks to the community.
Let us know if you find the article useful! You can do it on our Twitter, Medium, in Telegram and Facebook groups or on our subreddit. To not miss out on more guides, news and articles, subscribe to our blog. Take care!


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Author: changehero
July 12, 2019

Today we can definitely say that Binance Exchange has become the flagship of the industry. They became the biggest crypto exchange in the world quite quickly and confidently. Along with that their inner coin called Binance Coin (BNB) is growing and gaining strength. The most interesting part about it all is the forecast of the Binance Coin […]

Today we can definitely say that Binance Exchange has become the flagship of the industry. They became the biggest crypto exchange in the world quite quickly and confidently. Along with that their inner coin called Binance Coin (BNB) is growing and gaining strength.

Binance Coin logo

The most interesting part about it all is the forecast of the Binance Coin for the near future. What are the expectations for the coin in the next few months? What factors will determine the pricing? How to make an investment strategy?

ChangeHero got answers and ready to share them!

Origins

BNB is not only remarkable with it’s today’s position but with its whole path. Let’s dive into the background a bit.

The Binance token was based on Ethereum at first. It was created shortly after the launch of the Binance trading platform. Goals were set at the very beginning: to make users’ work as convenient as possible, with fast transactions, and high rewards in the affiliate program.

It’s a fairly common and widespread practice for exchanges to make their own crypto. For example, there were also Okex and Huobi, but none of these coins managed to repeat the Binance coin’s success. BNB was released 6 months later and overtook most of the leaders and entered the TOP-10 cryptocurrency rating. The great merit of this belongs to the founder of the project — Changpeng Zhao.

Changpeng Zhao

Today, Binance is a whole empire, which includes a venture capital fund, a charity company, research and education centres, and an ICO platform.

History

Binance pre-sale took the start in July 2017. 200 million coins were released. After the actual release, they started developing the plan of moving the coin from the Etherium base to their own blockchain platform. The process finalized in March 2019 — and that was the exact moment when BNB turned form Ethereum-dependable token into a coin of full value.

At the point of the start half of the amount was allocated to the community. Since then the project’s founders buy back some amount of the tokens from time to time. They take this step to take coins out of the circulation. This will last until half of the total number of coins remains on the market. The developers have come up with such a tricky move to maintain the liquidity of their coin — as supply decreases, demand increases.

There were also negative moments. In May 2019 BNB experienced a huge hack which resulted in a $40 million dollar loss among holders. But the company reacted quick enough and noble enough. They fixed the security issues and covered the lost funds with their own fund named SAFU (Secure Asset Fund for Users). As a result, the slipping stopped and the rate recovered and even grew within a month.

Binance coin price chart for May 2019
Coinmarketcap graph for May 2019

Since February 2019 BNB has been listed with IEO on different platforms. As an addition, Binance has just claimed to start off their futures market testing.

Binance Coin Team
Binance coin team

Current Positions

BNB cryptocurrency has proven that it does not have a tight binding to Bitcoin and can grow even when the main cryptocurrency is dropping. Unlike most coins, this one held up well during the entire crisis of 2018 and the first months of 2019.

At the moment of publishing this article, the BNB price is $32,02, the capitalization is $4.520.155.723. The daily trading volume is $227.123.882 USD. It’s the seventh position in the Coinmarketcap rating.

Binance Coin price for 2017-2019

According to the CoinMarketCap graph, we can also clearly see the BNB price followed an uptrend for the last 2 years. The rate raised from 0.1$ up to 32$. It’s 320 times more.

Experts’ Opinion

People who predicted the intense growth of the Binance token at the beginning of 2019 were right. More experts on the web are still saying that the BNB token will show stable growth for the rest of the year. For example, crypto enthusiast and expert Tonny Mustache thinks that people underestimate this token which will gain billions of dollars of volume in the next five years. And the TRON founder Justin Sun called it a ‘new Bitcoin’.

CZ Binance shares his interview with Forbes

Of course, it is an exaggeration, but sometimes a joke is not just a joke.

We also found a simple visual explanation of what’s happening with the BNB price.

We can estimate the overall expert field reaction as positive. Different rumours about new features and Binance informational support help to keep the degree of attention.

What Else To Expect

According to many experts, the forecast of the BNB price also largely depends on the further actions of the Chinese authorities, who still cannot choose a specific course in relation to crypto-economics, and this prevents them from making any predictions. Nevertheless, the BNB rate has been steadily growing for three months, capitalization and trading volume is increasing.

For July 2019 their next planned milestone is starting margin trading program. This may affect the rate as well causing its growth.

Another point is banning US customers from the main exchange. This measure didn’t affect the whole picture but if restrictions will grow more severe, the usage of the exchange will be dropping which means lowing demand and rates.

Summing Up

BNB is a promising project from bold enthusiast and simply smart people. It has already shown huge growth in short terms even after serious setbacks. The founders have a clear plan and solid measures to control and develop the market positioning which means stable standing. We can’t give you any specific advice but BNB is considered as an investment option by more and more investors. Especially since it doesn’t actually depend on and correlate with other top assets.

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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 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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