What is Binance Coin (BNB)?

BNB or Binance Coin is the underlying cryptocurrency of the Binance exchange. The Binance platform allows crypto traders and investors to pay commissions and trade other cryptocurrencies with BNB. Initially, this coin was an ERC-20 token on the Ethereum blockchain, but over time, Binance has developed its own advanced blockchain platform. According to statistics published in April 2021, the platform performs more than 1.4 million transactions per second, being one of the leaders in this indicator among all cryptocurrencies. Moreover, from early April to mid-May 2021, Binance Coin showed impressive growth and doubled its value.

With that said, it’s worth discussing BNB (Binance Coin) in depth to see what’s so special about it? IAFT experts have prepared everything you need to know about Binance Coin, including the latest news, where to buy it, market cap, historical BNB course and technological development.

BNB Pros

  • Unique incineration policy. In order to maintain stability and continued growth, the crypto exchange is pursuing a Binance Coin burn policy (which we will discuss later in this article). Thus, the BNB supply decreases, and the cryptocurrency rate grows over time.
  • Reduced trading costs. One of the most significant benefits of Binance Coin is that it gives traders discounts on Binance fees.
  • Fast transactions: BNB transactions are executed instantly (up to 1.4 million operations per second), significantly outperforming Bitcoin and Ethereum.

What is WAX (WAXP)

WAX is a tier 1 network designed for virtual collections and games. Users need to participate in staking WAXP tokens to access network resources (CPU, NET, RAM). This will allow decentralized applications to be used on the web. WAXP tokens can be used to receive staking rewards, manage and pay for network transactions.

How to convert at Letsexchange

Details regarding the price and rate when exchanging Binance coin to Waxp

purchase and sale price – the value of a cryptocurrency when exchanged for another cryptocurrency. The base rate of each cryptocurrency is denominated in US dollars, which allows you to quickly convert bnb to wax.

It won’t take long to exchange Binance coin to Waxp

We will provide the most favorable exchange rate for our clients through cooperation with reliable crypto instant exchange Letsexchange services. You can verify this by launching our BNB to WAX exchange rate calculator. We constantly make sure that all transactions carried out through us remain strictly confidential.

Also read: What to Know about Cryptocurrency Retirement?

Exchange BNB to WAX at a fixed rate

Blockchain-based cryptocurrency purchase and conversion schemes do not execute transactions quickly. The processing time for a transaction depends on the load on the chain. If the market is active at the time of the transaction, the Binance Coin to Waxp rate may decrease, as well as the total amount of transactions.

To prevent money losses caused by subsequent fluctuations in the rate, we fix the rate for the period of the transaction. We fix the BNB to WAX exchange rate when opening a transaction. As a result, traders receive the expected amount in cryptocurrency. This allows you to improve the client’s financial plan and ensure a better result.

By Hemant Kumar

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