Topic: Binance: $BNB The Future of Exchanges. - page 158. (Read 132131 times)
Binance announces new features, alongside successful token buyback. Binance, one of the fastest cryptocurrency exchange platforms has recently published its monthly operational data, showing significant progress in terms of adoption among the community as well as revenues. The platform, in its recent report stated various challenges it overcame over the past three months through effective implementation of intelligent business strategies.
Binance seems to be one of the better exchanges around. Its quick and interface is clean. Mobile app is nice as well.
Is the exchange profit split between the Binance holders?
not even remotely. Binance sells all their collected BNB on the market. So, really there is not even much discount on fees.
Thanks for your reply!
His reply was incorrect. Binance distributes 20% of profit to BNB holders through buy & burn. 20% of profit in Q3 was $1.5m.
How to realize your share of the profit:
1) I start Q3 with 0.01% of total BNB supply (20k BNB)
2) I slowly sell 100 BNB throughout the quarter to receive $150
3) Traders are buying millions of BNB and sending it to Binance to pay fees
4) Binance burns 1m of the BNB fees ($1.5m worth), and supply is reduced to 199m BNB
5) I end Q3 with 0.01% of total BNB supply (19.9k BNB) + $150
If they sent the $1.5m as dividends instead, I would have ended the quarter with 0.01% of total supply + $150 either way.
This works specificly well when u bought over $2...
Yeah. If you buy the top of a big pump then the price drops below your entry, you'll be at an unrealized loss, regardless of if the coin uses dividends or buy & burn.
In that situation: If the dividends or buy & burn grow large enough, they would lower your average cost per % of the supply.
Is the exchange profit split between the Binance holders?
not even remotely. Binance sells all their collected BNB on the market. So, really there is not even much discount on fees.
Thanks for your reply!
His reply was incorrect. Binance distributes 20% of profit to BNB holders through buy & burn. 20% of profit in Q3 was $1.5m.
How to realize your share of the profit:
1) I start Q3 with 0.01% of total BNB supply (20k BNB)
2) I slowly sell 100 BNB throughout the quarter to receive $150
3) Traders are buying millions of BNB and sending it to Binance to pay fees
4) Binance burns 1m of the BNB fees ($1.5m worth), and supply is reduced to 199m BNB
5) I end Q3 with 0.01% of total BNB supply (19.9k BNB) + $150
If they sent the $1.5m as dividends instead, I would have ended the quarter with 0.01% of total supply + $150 either way.
This works specificly well when u bought over $2...
Is the exchange profit split between the Binance holders?
not even remotely. Binance sells all their collected BNB on the market. So, really there is not even much discount on fees.
Thanks for your reply!
His reply was incorrect. Binance distributes 20% of profit to BNB holders through buy & burn. 20% of profit in Q3 was $1.5m.
How to realize your share of the profit:
1) I start Q3 with 0.01% of total BNB supply (20k BNB)
2) I slowly sell 100 BNB throughout the quarter to receive $150
3) Traders are buying millions of BNB and sending it to Binance to pay fees
4) Binance burns 1m of the BNB fees ($1.5m worth), and supply is reduced to 199m BNB
5) I end Q3 with 0.01% of total BNB supply (19.9k BNB) + $150
If they sent the $1.5m as dividends instead, I would have ended the quarter with 0.01% of total supply + $150 either way.
I can't trade fractional parts of WTC. Why is that?
Yes, this is bullshit. WTC has to be traded in fractional, I hope Binance will do something about that.
Regarding BNB Coin, it is decreasing because all altcoins are decreasing. However, if altcoins woke up and start increasing, and most traders start daily trading again; price of BNB will increase high. Because most traders choose BNB Coin as commission because of low fees, this will increase demand to BNB coin. I am hopeful about that. Besides, volume of Binance may increase soon because of issues in Bittrex. Some users complain about Bittrex bans.
any news around BNB? it's dropping hard in the last days
I can't trade fractional parts of WTC. Why is that?
Will binance give bitcoin gold for those who has positive bitcoin balance during the fork?
I can say yes, but you can try to visit the binance blog and try to read about the official statement regarding the bitcoin gold hardfork. and you can get a lot of the information from there. Is the exchange profit split between the Binance holders?
not even remotely. Binance sells all their collected BNB on the market. So, really there is not even much discount on fees.
Thanks for your reply!
Will binance give bitcoin gold for those who has positive bitcoin balance during the fork?
Actually the future of exchanges will be the decentralized ones. Give it a few years, you'll see.
you're right about it. that's why I am hodling 0x, let's wait and see
let wait until the Chinese Communist meeting over. or announcement on crypto currency.
I don't think it really matters, as far as I know Binance is based in HK.
Anyways, I'm really digging this exchange, even though I'm not a fan of centralized ones anymore. Great support, great interface, always adding coins based on popular demand...It's really hard not to like these guys. It's the only centralized exchange I'll ever use until we get something better.
Is the exchange profit split between the Binance holders?
not even remotely. Binance sells all their collected BNB on the market. So, really there is not even much discount on fees.
Is the exchange profit split between the Binance holders?
let wait until the Chinese Communist meeting over. or announcement on crypto currency.
Actually the future of exchanges will be the decentralized ones. Give it a few years, you'll see.
i think the platform is pretty smooth and good as well. But they could use some more professionalism in it like you see with bittrex. I think there is to much community involvement.
I'm feeling good about BNB.
I bought some Binance tokens and also have good feelings about it. Bought it at high price unfortunately
I'm not quite fond of the currency either, but I've been really satisfied by the platform. I only ever had 1 problem and it got solved within the hour
Jump to: