Kin KIN to Binance Coin BNB Exchange

Crypto Pair Details: KIN to BNB

Kin KIN

'Kin is money for the digital world. It is an open micro-transaction platform used by millions of users across more than 50 consumer applications and services, making Kin the most used cryptocurrency by mainstream consumers. Kin can be sent anywhere in the world, instantly, and for free. Kin enters circulation via the Kin Rewards Engine, or ''KRE'', which rewards developers for getting their consumers to use Kin. Today people are using Kin to purchase a variety of digital goods and services and to support content creators. This offers developers a new business model that rewards the adoption of engaging experiences and free exchange of value between users, not harvesting their data and attention. That means users and developers are finally re-aligned, around a new economy in which those who generate value online are the focus, not big-data monopolies.'

Binance Coin BNB

Binance Coin is the cryptocurrency of the Binance platform. It is a trading platform exclusively for cryptocurrencies. The name 'Binance' is a combination of binary and finance. Thus, the startup name shows that only cryptocurrencies can be traded against each other. It is not possible to trade crypto currencies against Fiat. The platform achieved an enormous success within a very short time and is focused on worldwide market with Malta headquarters. The cryptocurrency currently has a daily trading volume of 1.5 billion - 2 billion US dollars and is still increasing. In total, there will only be 200 million BNBs. Binance uses the ERC20 token standard from Ethereum and has distributed it as follow: 50% sold on ICO, 40% to the team and 10% to Angel investors. The coin can be used to pay fees on Binance. These include trading fees, transaction fees, listing fees and others. Binance gives you a huge discount when fees are paid in BNB. The schedule of BNB fees discount is as follow: In the first year, 50% discount on all fees, second year 25% discount, third year 12.5% discount, fourth year 6.75 % discount, and from the fifth year onwards there is no discount. This structure is used to incentivize users to buy BNB and do trades within Binance. Binance announced in a buyback plan that it would buy back up to 100 million BNB in Q1 2018. The coins are then burned. This means that they are devaluated to increase the value of the remaining coins. This benefits investors. In the future, the cryptocurrency will remain an asset on the trading platform and will be used as gas. Other tokens that are issued by exchanges include Bibox Token, OKB, Huobi Token, and more.

SOURCE: COINGECKO

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