Hi all, In this Today lecture from @yohan2on, I learn about different Altcoins and it's importance.

In today post, I give my article about one of my favourites and most famous and well know is BINANCE COIN(BNB).

What Is Binance Coin(BNB):-

BNB is an Altcoin, at present Ranking Top 3 in coingecko. Market Cap around $79,714,259,980.

BNB not only an Altcoin it's a native coin of Topmost Exchange ***Binance Exchange ***.

Through BNB we can Trade coins and also we can pay trading fee also. If we trade with BNB to other altcoins we get less fee to compare USDT, BTC or ETH. So always try to trade BNB pair in Binance.

At first BNB coin created in July 2017 on the Ethereum blockchain so at starting creation BNB is one of the ERC 20 network coins.

Then after creating their own Binance Smart chain, the BNB coin becomes the native coin for Binance Exchange.

So now BNB Altcoin having its own Binance Smart Chain Network.

For developing each altcoin there are some use cases, those not full filled by our King BTC.

For solving some issues BNB also created. Now we discuss it.

Binance Coin Use cases:-

Trading:-

As a crypto trader, we know all Alts coin not tradable in each exchange. Some Altcoins tradable some Exchanges only.

Nearly in 64 Exchages bnb trading with 138 pairs. This is very huge.

_{BNB TRADING EXCHANGES}

But coming BNB, we can trade this coin all almost all exchanges. Because it listed every exchange so we can trade anywhere very easily.

Transaction fees Reduction

I think every trader like trading on Binance Exchange due to its features and user-friendly access.

_{Trading Fee Deduction}

In Binance if you trade using BNB pair we get a reduction in Trading Fee. This is one of the most useful use cases for us.

Credit card payments:-

This is another useful use case for us. Now we can pay our Credit 💳 card bills using BNB too.

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Through the https://crypto.com/ website, we pay our credit card bills using BNB.

Payment Processing :-

Using BNB we can our bills, now possible to buy Mobile 📱 phones also with BNB. Some platforms offering these business-related offers, so we pay them using BNB.

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For Example, through the Monetha platform, we do business deals, for this it supporting BNB as one of the payment.

Travel Booking:-

For our Travel needs, we can pay our Airlines Ticket fee and hotel rents using BNB.

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This one of the use case we get from BNB altcoin.

Entertainment :-

Now we can buy virtual gifts, lottery tickets buying we can do with BNB. So for our entertainment needs, we pay with BNB.

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Finance :-

Through some platforms, we can do financial related activities with BNB.

For Example, we can invest in Stocks through the NAGA platform using BNB.

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We can also take a loan on keeping BNB as collateral.

Like that lot of real-life use cases, we can full fill with BNB coin.

Binance Coin: Initial Coin Offering

BNB coin also introduced through ICO in July 2017.

At that time they raised around 200 million bnb at cost of 15 cents per coin.

Now it trading around 560$, we can clearly understand now, how much potential coin it is.

As per Token Economic, they allocate

80 million(40%) and for the founding team, for Angel investors 20 million (10%), remaining 50% (100Million)they sell in the public sale.

Like that they successfully finished their ICO.

BNB Burning:-

For keeping the BNB price, the BnB team start the burning process each quarter.

Through this, they start reducing the circulation supply of BNB. So automatically we get demand for coin so easily we can expert good price move.

Still, now they complete 15 burning events.

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Today is the day they finish their 15 th burning process. Today they destroy nearly 1099888 BNB it's worth nearly 595314380$USD.

The huge amount they burn today, On comparing previous 14th burning even is bigger than others. Because they burn nearly 3619888 BNB on that day.

This burning process continues up to destroying 50% of the Total supply. Means nearly 100 Million BNB they want to destroy totally. This process continues every quarter to reach their 100Million Goal.

This one of the most important thing because through this we get good bnb price growth shortly.

Where We Store:-

We can store our BNB in any wallet. All most wallets support BNB coin.

For Example, we store our BNB in Trust wallet, Ledger, Eniji wallet, Automic Wallet and many more.

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Like that lot of features and burning process having. That's why this coin going in rocket 🚀 speed now. Fundamentally very strong coin.

That's why I always use BNB pair for my trading needs. And also prefer to hold.

This is my short description about BINANCE COIN.

Hope I finish my Homework Task correctly, If any mistake I make pls verify me.

Thanks for reading My Post.