Binance Coin was launched in 2017 with an ICO that sold 100 million BNB (50% of the total supply). It started as an ERC-20 token (based on the Ethereum blockchain), but soon switched to a custom network called Binance Chain. The total number of BNB is constantly decreasing due to regular burn events.
This coin is primarily used for paying trading fees on the Binance Exchange platform. You can also use it to take part in token sales on the Binance Launchpad. Still, the token has its market-determined value, and many vendors or exchanges like ChangeNOW accept BNB as a viable asset.
During the initial coin offering, 50% of all BNB tokens were sold; 40% went to the Binance team, and 10% — to angel investors. Today, Binance Coin can be used to participate in other ICOs via the Binance Launchpad program.
Buy Binance Coin in Canada with RaincityEx. It’s the easiest way to get started! Registration is free and users have the option to purchase Binance Coin in Canadian dollars via e-transfers or Credit Card.
Odds are users opening an account with RaincityEx specifically to buy Binance Coin may already have cryptocurrency. Those users can simply exchange any number of the cryptocurrencies Netcoins currently accepts (including Binance Coin) and get started that way.
RaincityEx charges a low fee of 2% for your BNB exchange, which cover all network & exchange fees
Binance is a cryptocurrency trading platform, whereas Binance Coin is a utility token on the Binance Chain. BNB can be used to pay for the fees on Binance platform and widely accepted by merchants online.
Usually, we process your BNB exchange within 15 minutes. In some cases, the time may vary as the confirmations on the blockchain is beyond our control.
RaincityEx is an account-free service, you can instantly exchange BNB without any signups. However we do require you to create an account in order to buy Binance Coin