Binance Coin Profile (BNB)
Project Safety Score
Wed, Oct 27, 2021 3:37 AM
Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name "Binance" is a combination of binary and finance. Thus, the startup name shows that only cryptocurrencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing. In total, there will only be 200 million BNBs. Binance uses the ERC20 token standard from Ethereum and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees and others. Binance gives you a huge discount when fees are paid in BNB. The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount. This structure is used to incentivize users to buy BNB and do trades within Binance. Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018. The coins are then burned. This means that they are devaluated to increase the value of the remaining coins. This benefits investors. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas. Other tokens that are issued by exchanges include Bibox Token, OKB, Huobi Token, and more.
Read more in the whitepaper:
Binance Coin Project Statement
Project statements are provided by senior members of the project team and serve to tell the reader why the project has honorable intentions and why is definitely not a scam.
Please get in touch to submit a project statement for this project. Emails must be sent from official domain email addresses and will be verified before being accepted.
Binance Coin Safety Report
Binance Coin has a safety score of 7.79
Binance Coin is a large cap exchange token coin.
Binance Coin is suited to a balanced investment style.
Binance Coin Profile
This profile has enough data to perform a thorough analysis. But any missing data will have a negative impact on the overall rating.
- tradingview profile
Binance Coin Red Flags
There are currently no Binance Coin red flags.
Binance Coin Development Score
The Binance Coin project has 22 active source code repositories.
The most recent commit was Sat, Sep 25, 2021 3:51 PM
- 936 Watchers
- 6558 Stars
- 126 Mentionable Users
- 0 Vulnerabilities
- 39 commits in the last 28 days.
- extremely high stars
- very high watchers
- extremely high repo stars
- daily repo updates
- poor mentionable users
Binance Coin Sentiment Score
The sentiment score indicates how well the wider community regards the project. We analyse social media platforms such a Reddit, Twitter etc to access if the community is talking positively or negatively about a project. Or if they are even talking about the project at all!The overall sentiment is high indicating that this project is well-regarded in the community who talk often and mostly postively about this project.
- The overall sentiment is high
Binance Coin Community Score
The community score indicates how active community is. Are they writing lots of articles and engaging in lots of conversations on the web? Where is the crypto communities attention spent? There are so many hours in the day to spend writing, reading, researching a project. So how much of this time is spent on Binance Coin?
The larger a community is then the more eyes are on that project. Sharing information, red flags and concerns is more likely the bigger the community is. And larger communities are alot hard to censor and control - therefore they provide a diverse range of opinions.
Overall Binance Coin has a strong community, posting and creating lots of content across the internet on social media, forums, blogs and websites.
- extremely high hashtag tweets
- extremely high gitHub account watchers
- good search result count
- very poor reddit articles
Binance Coin Awareness Score
The awareness score indicates how well Binance Coin is known in the main stream. Its all very well for a project to have a discord channel to have 1000 users chatting all day about how great the Binance Coin is but a good measure of longevity is how well the project is known by the general public.
Overall Binance Coin this project is not known by the general community. If a project is new and has not had a lot of marketing or exposure then in general as the project grows the awareness score will increase.
- very poor search result total
- very low news articles mentioning Binance Coin
- very low news articles directly about Binance Coin
Binance Coin Credibility Score
The credibility score indicates how credibility a project is. Does it have a ridiculous name? Is it run by a 13yr old in their basement? Is it just 2 days old and too early to tell?
- Mature project age (released Jul 25, 2017)
Binance Coin Volume Score
The volume score is the simplest of all our metrics and quite often the bottom line metric. It doesnt matter how well a project scores on the other factors, if it is only shifting a few thousand dollars a day in volume then there is a high chance you will left holding a bag
- very high USD 24hr volume
Red flags come in all shapes and sizes
At the end of the day a cryptocurrency project requires you to part with your hard earned cash in order for it to become succesful.
You expect a level of transparency and professionalism from a project that is asking for your money.
There are all sorts of red flags which you should be weary of;
- 404 (missing) websites
- Expired SSL certs
- Malware/Hijacked sites
- Suspended Twitter accounts
- Private Subreddits
- SEC investiations
If you spot anything suspicious/resolved then please let us know.
Binance Coin Red flags
No red flags
No red flags have been identified. That doesnt mean its a 100% safe project, it just means that no red flags have been brought to our attention.
How complete is this profile:
1 missing data point
This profile is still waiting for the following data points
- tradingview profile
Market Cap Rank:
Bulls v Bears:
Binance Coin Reddit
Binance Coin Github
Binance Coin News
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