Binance Coin (BNB) is a digital asset native to the Binance blockchain (Binance Chain) and launched by the Binance cryptocurrency exchange.
Binance issued its own coin called the Binance Coin, with BNB as the symbol. BNB runs natively on Binance chain. The coin was established with a total supply of 200 million. Every quarter, Binance will destroy BNB based on the trading volume on Binance crypto-to-crypto platform until they destroy 50% of all the BNB. All transactions will be on the blockchain. Binance eventually will destroy 100 million BNB, leaving 100 million BNB remaining.
The BNB coin itself has multiple forms of utility, essentially being the underlying gas that powers the Binance Ecosystem.
In the future, Binance will build a decentralized exchange, where BNB will be used as one of the key base assets as well as gas to be spent.
The beauty of the internet and internet currency is that you can trade the markets all the time 24/7 365 days of the year. Buying or Selling BNB is very easy and simple on the iceCUBED Exchange. Simply select the BNB/BTC trading pair to place your BUY and SELL orders.
The best way to store Binance Coin, Bitcoin or Litecoin is by using a Hardware Wallet. This way, you and you only have control over your coins and they can not be hacked or scammed. Never store your coins on an exchange or web based wallet where you do not control the private keys. Only keep coins on an exchange that you intend to trade with, there is no reason not to.
Trading BNB Tokens like a commodity is very much the same as trading gold, the difference being, BNB Tokens in this instance are like digital gold. Just like gold is traded on stock markets all over the world, Binance Coin (BNB) can also be traded on exchanges all over the world. The price at which BNB is trading, is purely down to supply and demand. We do not get involved in any trading (i.e. We do not sell or buy on the exchange). The local market price for BNB in South Africa is down to the users trading on the exchange.