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Binance Coin (BNB) is the native token of the Binance exchange ecosystem. Binance exchange is the largest cryptocurrency exchange in the world and launched BNB in June 2017, enabling users to pay transaction fees with BNB and to trade it on other exchanges. Binance Coin is capped at 200 million tokens. Every three months, Binance permanently destroys BNB based on the trading volume for that quarter in the scope of token burns, diminishing the supply. With Binance Chain and Binance Smart Chain, Binance exchange operates a dual-chain system that enables the issuing and exchanging of new tokens and supports smart contracts for running decentralised applications.
The money you put into cryptocurrencies is not safe from value fluctuations. Cryptocurrencies are always a volatile investment. There are, however, ways to select an investment platform that will keep your investments safe. You want to look for a platform that operates in a safe and regulated environment with an experienced team. The platform should provide sufficient liquidity, reasonable volumes and employ state-of-the-art technology and safety while offering customers an easy-to-use, intuitive interface. You also want the platform of your choice to support fiat currencies as well as cryptocurrencies.
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Tokens have wider functionality than crypto coins. Coins are native to their own blockchain, like Bitcoin, and are used as a form of digital money. Tokens, on the other hand, are often built on an existing blockchain and are used for a wide variety of functions, like fuelling applications, payment for validating transactions etc.
There is no physical BTC token so you can think of Bitcoin as digital money. Bitcoin transactions are fully transparent and can’t be censored. You can send money to anyone in the world with ease. It’s a financial system backed by thousands of computers around the world, instead of a single central bank or government. “Fiat money," on the other hand is legal money issued by a state authority without intrinsic internal value. It serves as a medium of exchange and is the opposite of commodity money like silver or gold.