Convert BNB to USD
List of cryptocurrencies and tokens supported by PassimPay crypto wallet. Secure storage for a variety of digital assets.
btcBitcoin
tonToncoin
ftnFasttoken
ltcLitecoin
busdBinance USD
ethEthereum
bchBitcoin Cash
zecZcash
dogeDogecoinbnbBinance Coin
usdtTether
trxTron
usdcUSD Coin
xrpRipple
usddUSDD
eosEOS
adaCardano
shibShiba Inu
dashDash
hftHashflow
dydxdYdX
linkChainlink
aaveAave
crvCurve DAO Token
achAlchemy
maticPolygon
daiDai
nearNEAR Protocol
atomCosmos
twtTrust Wallet
dotPolkadot
avaxAvalanche
flowFlow
ksmKusama
solSolanaWhat is Binance Coin?
Binance Coin was released in 2017 with an ICO 11 days before the Binance exchange's start with a limited offering of 200,000,000 tokens and 100,000,000 in the ICO. The tokens were originally on the ERC-20 standard in the Ethereum blockchain.
In 2019, after the blockchain creation, Binance Chain, ERC-20 coins were exchanged into BEP2 in a ratio of 1:1. Today, BNB tokens are no longer placed in the Ethereum network and are the source of support for the Binance exchange work.
Binance Coin tokens can be used as payment for fees and deposits in the Binance blockchain, online purchases, donations to charity, trading, etc. BNB is rarely used to pay for tangible goods and services. Still, it requires a Binance bank card, which is unavailable in some countries.
Binance Coin's Working Mechanism
BNB does not use smart contract support. In their place, there is a dedicated team in the Binance Chain network, owing to which there is high performance: immediate transactions and instant block creation.
Another distinctive feature is that mining BNB as PoW is impossible because of the existing BFT mechanism in the blockchain. As a replacement for miners, there are validators who check the blocks, earning on the blockchain's protection. This way, acquiring a coin is the only way to get it.
How to buy Binance Coin (BNB)?
The best option for buying BNB coins is the Binance exchange, but you can also use other ones. When buying BNBs on third-party sales, you should check them carefully to avoid cases of fraud.
One of the safest and cheapest options to get Binance Coin is PassimPay. With the platform, you can convert BNB into over 45 currencies and coins. Quickly, safely, and with low fees.
Pros and cons of using Binance Coin
Pros:
- high performance;
- high level of security and network protection;
- numerous currency pairs on the Binance exchange;
- supported on various devices with different operating systems;
- multilingual service;
- possibility of arranging a cryptocurrency loan on the Binance exchange;
- discounts on fees and bonuses on the Binance platform.
Cons:
- limited scope of BNB use outside the Binance exchange;
- possible asset high volatility;
- despite the high level of protection, the Binance platform is centralized, so BNB coins are vulnerable to fraud.
Binance Coin Storage
Keeping BNB tokens on the Binance exchange is effortless and the most practical but not the safest storage option. BNB coins can be stored in any wallet that supports the ERC-20 standard.
The most secure is the use of the PassimPay payment system. The service is suitable for more than just simple storage and transfers. If you are a business owner, you can connect to accept payment for your goods/services in Binance Coin through PassimPay.
We use several protection layers to store customer data and assets, including cold storage usage for the bulk of funds.
To learn more about security and user data protection, visit the "Security" page.