Published On: Sun, Apr 15th, 2018

Binance Coin Burn Inbound – Here’s When It Will Happen

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Binance, one of the most popular cryptocurrency exchanges in the world, has reminded users that its quarterly coin burn is right around the corner – but what is it, and when will exactly will it take place?
Burn Binance Burn
In case you forgot, Binance – one of the world’s most popular cryptocurrency exchanges – is slated for its quarterly buyback and burn of the company’s own soon-to-be-native token, Binance Coin (BNB).
On Thursday, the company took to Twitter to remind its followers of the seasonal event:

Not long until the quarterly #Binance BNB buyback and burn. How many $BNB do you think will be burned this quarter?
— Binance (@binance) April 11, 2018

Binance Coin (BNB) is the exchange’s own ERC 20 token which currently runs natively on the Ethereum blockchain.
Most users of the exchange are aware that the coin significantly cuts back on trading fees when said fees are paid with BNB. Currently, fees are reduced by 50 percent, but the benefit is set to decrease with each year of the exchange’s operation.
What many users do not realize, however, is that Binance buys back and burns a certain percentage of its …

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