Binance Coin is a digital currency issued by the cryptocurrency exchange platform Binance (the name comes from the combination of “binary” and “finance”) and denoted by BNB ticker. Binance itself was established in 2017 by Changpeng Zhao – current CEO – with his co-founder and CTO Roger Wang.
Created for the ICO crowdfunding event, which took place between the 26th of June to the 3rd of July 2017, the token itself was initially based on the Ethereum blockchain, however, in March 2018, the company representatives made an announcement about the future of BNB implying transferring of the asset to its own mainnet. Thus, the migration of the token started simultaneously with the launch of Binance Chain testnet in Spring 2019. By now, the process is completed since all the tokens were swapped to native coins or burned. Apart from the function of the valuable assets, those newly established coins serve also as fuel for Binance DEX (decentralized exchange). Thereby, it makes sense to get some amount of BNB to pay the fees charged for the transactions and exchange operations within the network. The Binance Coin cannot be obtained by mining since all tokens were pre-mined by Binance at its establishment. Thus, in order to acquire the coin, you can visit one of the popular trading platforms or use the built-in cryptocurrency purchase feature of Guarda Wallet.
While BNB is a well-knows token often talked about on the Internet, BTCB mentions are much harder to find. Nevertheless, it’s a quite remarkable and promising asset issued on the Binance Chain according to BEP-2 standard. BTCB literally means “Bitcoin BEP2 Token” as it is 100% backed by Bitcoin BTC. By analogy with Tether USDT pegged by USD to provide the digital asset with the stability of a traditional currency with no significant price fluctuations, BTCB is backed by Bitcoin as the oldest and most reliable asset on the cryptocurrency market. Being the first cryptocurrency ever to appear and, therefore, the most trusted and popular one (regardless of the fact that its creator’s real name is still unknown), Bitcoin can guarantee more or less stability and even growth to the holder in the context of a highly volatile market.
Those cryptocurrency holders who wish to benefit from trading and exchanging various digital assets are definitely familiar with CoinMarketCap – an easy-to-use website providing the visitors with the latest information about price fluctuations on the market. There you can find all the necessary details about BNB and BTCB, as well as any other tokens compatible with BEP-2 standard. Since the mainnet swap BNB coin occupies one of the top positions according to its market capitalisation and trading volume. Now it is ranked number 6 by CoinMarketCap and, therefore, placed above such popular assets as Tether USDT, Bitcoin SV, EOS, Monero, Neo and others. Its price fluctuates at around $30.
As for BTCB, it currently cannot compete with the major crypto tokens and suffers a short-term price fall. Partially, this can be explained by the complicated manner in which it operates. Thus, in case you want to exchange BTCB, the trading pair will be created on Binance between the pegged token (BTCB) and the native coin (BTC). Large orders are maintained on the trading pair on the Binance platform with a price spread of around 0.1%. This provides a possibility to convert from the pegged token into the native coin right on Binance.com.
The option of managing tokenized assets easily and smoothly from a smartphone or a tablet is extremely important for lots and lots of cryptocurrency enthusiasts from all over the world. Hence, the Guarda team created handy mobile wallets for Android and iOS so that you could access your account from any device connected to the Internet.
On Guarda, you can store, receive, send, buy (i.a. with fiat money), sell and exchange BEP-2 tokens (BNB or BTCB, for example) with the help of Guarda BEP-2 Mobile Wallet. Unlike many competitors in the non-custodial niche, the wallet has an understandable friendly interface allowing its users to perform all kinds of operations with coins and tokens without any unnecessary steps and extra actions.