Palmer teamed up with Billy Markus, a software developer at IBM. However, following positive feedback, he pushed on with the venture. Palmer was a slightly sceptic observer of the new cryptocurrency technology and initial tweets regarding Dogecoin were done tongue-in-cheek, the theme based on a popular meme featuring a Shiba Inu. What Is Dogecoin?īinance Coin vs Dogecoin differ in their origins.DOGE was created in 2013 by Jackson Palmer to satirize the hype surrounding cryptocurrencies. Moreover, through Binance’s Launchpad program, traders can use Binance Coin to invest in new initial coin offerings. Many sites accept Binance as a form of payment for services such as accommodation and entertainment. However, the possible uses have since expanded. BNB allowed users of the Binance exchange to trade with lower transaction and trading fees. The primary purpose of Binance Coin was to be a utility token. Today’s price can be found on websites like CoinMarketCap.Ĭonsidering Binance Coin vs Dogecoin, the former is the third-largest cryptocurrency around. The value has since stabilised and usually sits around the $400 mark. Then, in May 2021 it spiked again, hitting $675.68. In February 2021, during a crypto bubble, the coin hit an all-time high of $332.62. It was not until the start of 2021 that the coin’s value started to grow. The burn that occurred in April 2021 removed a total of 1,099,888 BNB, worth $595,314,380.īinance Coin bounced around the $10 mark for much of its early existence. Every quarter, Binance uses one-fifth of its profits to repurchase and burn (permanently destroy) Binance coins. An interesting event that regularly occurs is a Binance Coin burning. However, it has since become the native currency of Binance’s own blockchain, the Binance chain. When it first launched, Binance Coin ran on the Ethereum blockchain with ERC 20 standard. The funds raised were used for a variety of purposes, including branding, building the platform and upgrading the Binance ecosystem. Of these, 10% (or 20 million) were offered to angel investors, 40% (or 80 million) to the founding team, and the remaining 50% (100 million) were offered to participants in the ICO process. It was launched in July 2017 with an initial coin offering (ICO) in which 200 million BNB tokens were available. Trade 0.1 USDT Leverage -īefore we get into a full Binance Coin vs Dogecoin trading comparison, we will explore each coin individually, starting with Binance Coin. Instruments Cryptos Regulator FinCEN Platforms Own Min. Read on to learn about each of the two coins, their similarities and differences and the advantages of each for traders. The two coins have very different origins, with Binance Coin established as the native currency of the Binance crypto exchange and Dogecoin set up as a meme currency that quickly gained popularity and value.
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