Spotlight Growth
No Result
View All Result
Friday, February 3, 2023
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Cryptocurrency

Binance Dispels Fiat-Pairing Rumors, Announces New Feature

by admin
April 29, 2018
in Cryptocurrency, Market News
0
Binance Coin Burn BNB Fiat Pairing Fake News Rumor

Binance Coin Burn BNB Fiat Pairing Fake News Rumor

As one of the top cryptocurrency exchanges, it’s often hard to believe that Binance is also a relative newcomer to the scene. Their dedication to user experience and customer service allowed them to carve out a major slice of the exchange market, and they have not slowed down since. While they continue to introduce new features, they are also keeping an eye on the value of their proprietary cryptocurrency – Binance Coin.

Binance Coin (BNB) Burn

Binance Coin (BNB) exists for two purposes. First, it represents an investment in the Binance platform. In this sense, it’s like a share of stock or a security token. The value is generally related to the perceived success of the exchange. Second, it serves as an instrument for transaction fees. Users can choose to pay their transaction fees using BNB rather than the currency in question and receive a discount on the fee as a result.

As outlined in their whitepaper, the cryptocurrency exchange also intends to perform regular coin buy backs using their exchange profits. The process of buying back coins causes an increase in per unit price, simply through the regular mechanism of asset trading. Burning coins then decreases the overall supply, which also increases the value. The most recent burn just occurred, with Binance burning 2.2 million BNB – the equivalent of $30 million USD.

Dispelling Fiat Pairings Rumor

Recent industry rumors have suggested that Binance may soon be offering fiat pairings for some of their more popular offerings. Binance’s CEO Changeng Zhao went to social media to announce that this was not the case, saying;

“While we can’t predict the future, others keep attempting it on us.  Both “news” are not accurate.  We are working with banks (to potentially support fiat), but no plans for USD in the short term. No xvg or xpr involved. Be careful around predictive “crystal ball” news.”

While this news is certainly disappointing in the short term, Binance’s continued willingness to clearly state their intentions and their plans is encouraging. Particularly when compared with others in the cryptocurrency industry, Binance has been very open – they were quick to comment during a recent downtime and kept all their customers updated throughout the course of the crash.

Dust to BNB Announcement

The most recent feature announcement is an expansion of Binance’s ‘Dust-To-BNB’ feature. Although they had previously offered a limited ability to trade ‘Dust’, this expansion greatly increases the size and scope of the program. Due to the fractionalized nature of cryptocurrency trading, users are often left with fractions of various coins that are too small for trading. This ‘Dust’ often accumulated over time, leaving users with a considerable amount of unusable funds.

Through the mechanics of the exchange itself, Binance offers users the ability to sell this Dust off for their own currency, BNB. As the combined value of the dust is often enough to trade, there is no requirement to maintain those funds in BNB. However, as there is a discounted fee incentive, it often makes sense to keep that BNB for future transactions.

Article By: Adam Stone

Tags: binanceBinance CoinBinance Coin BurnBitcoinblockchainBNBbuybackscommon stockcryptoCryptocurrencycryptocurrency exchangecryptonewsdigital currencyemerging growthEthereumfiat pairingshodlinvestmentMaltamarket newsnewssalesservicessmall capsSpotlight GrowthSpotlight Growth Stockstechupdates
  • Trending
  • Comments
  • Latest
Asure Software NASDAQ ASUR Human Capital Management HCM Industry Spotlight Growth

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

September 27, 2022
OLB Group NASDAQ OLB Cuentas NASDAQ CUEN Partnership Fintech Spotlight Growth

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

October 6, 2022
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
Elys Game Technology Corp NASDAQ ELYS Completes Acquisition of Engage IT Services Spotlight Growth

Elys Game Technology Corp (NASDAQ: ELYS) Completes Acquisition of Engage IT Services, a Software Engineering and IT Development Company

February 2, 2023
Tenax Therapeutics NASDAQ TENX US Patent Levosimendan PH-HFpEF Spotlight Growth

Tenax Therapeutics (NASDAQ: TENX) Granted U.S. Patent for IV Levosimendan for Pulmonary Hypertension with Heart Failure and Preserved Ejection Fraction (PH-HFpEF)

February 2, 2023
Versus Systems NASDAQ VS Resolve Debt Partner AI Gamification Consumer Debt Spotlight Growth

Versus Systems (NASDAQ: VS) and Resolve Debt Partner to Integrated Generative AI and Gamification to Customer Payments and Credit Markets

February 1, 2023
Finding the Most Accurate Technical Analysis Indicator Spotlight Growth

Finding the Most Accurate Technical Analysis Indicator

January 31, 2023
ADVERTISEMENT

Recent News

Elys Game Technology Corp NASDAQ ELYS Completes Acquisition of Engage IT Services Spotlight Growth

Elys Game Technology Corp (NASDAQ: ELYS) Completes Acquisition of Engage IT Services, a Software Engineering and IT Development Company

February 2, 2023
Tenax Therapeutics NASDAQ TENX US Patent Levosimendan PH-HFpEF Spotlight Growth

Tenax Therapeutics (NASDAQ: TENX) Granted U.S. Patent for IV Levosimendan for Pulmonary Hypertension with Heart Failure and Preserved Ejection Fraction (PH-HFpEF)

February 2, 2023

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Education
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested