token. It was originally created as an <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-20/">ERC-20 token and based on the <a href=https://www.bitdegree.org/"/crypto/buy-ethereum-eth/">Ethereum blockchain. However, it will be allocated to the Binance blockchain. The token was created in 2017 between June 26th and the 3rd of July, by Binance itself. To specify, the token was initially revealed during an <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">ICO (Initial Coin Offering) <strong>crowdfunding campaign</strong>.</p>\n<p>Back then, the token sale gave <strong>100,000,000 BNB</strong> <strong>or 50%</strong> of the entire supply. Also, the issue price was set at 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. 200,000,000 coins were the original total supply of BNB. The total supply decreased due to the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-burning/">burns. This is because Binance uses one-fifth of its profits to burn BNS coins.</p>\n<p>To be specific, BNB is used primarily for paying trading and transaction fees on the Binance exchange. If you wish to purchase directly, you must go to <strong>the Binance exchange</strong>.</p>\n<p>However, the token can be employed in a variety of ways. For instance, there is a <strong>Binance Charity Foundation (BCF) project</strong>. Here, you can make important donations to charity.</p>\n<p>Other examples include using BNB as gas on the Binance DEX. Speaking of the Binance exchange, the token is mostly used as a utility token. This lets you pay lower transaction fees. But keep in mind that the cost structure varies depending on the trading activity within 30 days, and the account tier level.</p>\n<p>There are numerous simple, everyday use cases for the BNB token. For instance, if you want to pay for your hotels and flights, you can also use the BNB token. 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On that note, Breakeven Multiple is a number of how much the current price of an asset or a coin needs to be <strong>multiplied</strong> in order to achieve its Breakeven Point (BEP). The trader must wait for the price to increase again when it falls below the amount paid, so he could exit positions in a neutral state.</p>\n<p>Also, the Breakeven Point formula in corporate accounting is calculated by dividing the total fixed costs involved with manufacturing by the revenue per individual unit minus the variable expenses per unit.</p>\n<p>If you want to calculate the Breakeven Multiple here is the formula:</p>\n<p><em>x = Initial Price / Current Price (Dividing the initial price by the current price)</em></p>\n<p>For example:</p>\n<p><em>x = 500/125 = 4</em></p>\n<p>Breakeven Multiple is an idea that demonstrates what is needed to break even, such as a way <strong>higher percentage than the percentage of the drop</strong>. For instance, if there is the same 60% increase as was the drop, this will not be enough.</p>\n<p>During <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-bear-market/">bear markets</strong></a> and panic selling events, traders try to not face losses by using stop-limit orders.</p>\n<p>To better understand the concept, let&rsquo;s take a simple example. Let&rsquo;s say you buy an asset at a market price of $55. Later on, the price falls to $27,5. This indicates that the value of the asset needs to <strong>double</strong> so that it could return to the original value. So, the Breakeven Multiple in this scenario would be - 2.</p>\n<p>The <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-all-time-high-ath/">ATH (All-Time High) of an asset occurs when it reaches the highest possible price. Breakeven Multiple can also showcase the needed multiple by which an asset needs to rise to reach its previous ATH.</p>\n<p>Speaking of which, if a cryptocurrency ATH had experienced a significant drop such as a 75%-80%, the Breakeven Multiple might show that a 300% increase is needed. That way, the asset is able to achieve the best possible price yet again. But keep in mind that Breakeven Multiple is not the percentage. It is <strong>the number</strong>.</p>","level":"medium","meta_title":"What is Breakeven Multiple? Definition & Meaning | Crypto Wiki","meta_description":"Breakeven Multiple meaning: Breakeven Multiple - a number that needs to be multiplied in order to reach its Breakeven Point (BEP).","meta_keywords":null,"language":"en","created_at":"2022-05-17T14:26:42.000000Z","updated_at":"2022-06-07T11:49:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-breakeven-multiple"},"prevSection":{"id":966,"original_id":null,"author_id":43,"translator_id":null,"title":"What does BUIDL mean?","slug":"what-does-buidl-mean","section":"B","keyword":"BUIDL","status":"published","definition":"community contributions to the entire blockchain ecosystem via active engagement as opposed to passive HODLing.","content":"<p><strong>BUIDL</strong> defines <strong>conscious</strong> and <strong>active engagement in the crypto space</strong> in order to <strong>better the platforms</strong> and <strong>encourage adoption</strong>.&nbsp;</p>\n<p>The term has been used by the co-founder of Ethereum, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/who-is-vitalik-buterin/">Vitalik Buterin</strong></a>, and the founder of Binance, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/who-is-changpeng-zhao-cz/">Changpeng Zhao</strong></a>.&nbsp;</p>\n<p>BUIDL is derived from the word &ldquo;build&rdquo;. It&rsquo;s similar to the term <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hodl/">HODL which is a play on the word &ldquo;hold&rdquo;.</p>\n<p>Crypto enthusiasts that believe in BUIDLing push towards more than just HODLing. They promote proactive contributions.</p>\n<p>It&rsquo;s important to keep in mind that <strong>you don&rsquo;t have to be knowledgeable in programming to contribute</strong>. BUIDLing involves a variety of crypto interactions that are more active than HODLing. For example, you can frequently use your <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">crypto wallet</strong></a>, employ <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a> when making agreements, or participate in beta testing.&nbsp;</p>\n<p>Don&rsquo;t forget to play to your strengths. If you&rsquo;re creative, you can write article pieces and post content online. If you&rsquo;re a social butterfly, you can stream yourself playing blockchain games and interact with the community.</p>\n<p>All of these activities help with improving the crypto space while also paving the way for cryptocurrencies to become widely accepted.</p>","level":"easy","meta_title":"What does BUIDL mean? Definition & Meaning | Crypto Wiki","meta_description":"BUIDL meaning: BUIDL - community contributions to the entire blockchain ecosystem via active engagement as opposed to passive HODLing.","meta_keywords":null,"language":"en","created_at":"2022-05-17T13:40:56.000000Z","updated_at":"2022-06-07T11:49:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-does-buidl-mean"},"currentChapter":"B","currentSection":"what-is-bnb","chapterTitle":"B","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-bnb","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Crypto Terms: Letter B

What is BNB?

BNB MEANING:
BNB - a crypto token based on the Binance blockchain.
Easy
1 minute

Let's find out BNB meaning, definition in crypto, what is BNB, and all other detailed facts.

BNB is a token. It was originally created as an ERC-20 token and based on the Ethereum blockchain. However, it will be allocated to the Binance blockchain. The token was created in 2017 between June 26th and the 3rd of July, by Binance itself. To specify, the token was initially revealed during an ICO (Initial Coin Offering) crowdfunding campaign.

Back then, the token sale gave 100,000,000 BNB or 50% of the entire supply. Also, the issue price was set at 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. 200,000,000 coins were the original total supply of BNB. The total supply decreased due to the burns. This is because Binance uses one-fifth of its profits to burn BNS coins.

To be specific, BNB is used primarily for paying trading and transaction fees on the Binance exchange. If you wish to purchase directly, you must go to the Binance exchange.

However, the token can be employed in a variety of ways. For instance, there is a Binance Charity Foundation (BCF) project. Here, you can make important donations to charity.

Other examples include using BNB as gas on the Binance DEX. Speaking of the Binance exchange, the token is mostly used as a utility token. This lets you pay lower transaction fees. But keep in mind that the cost structure varies depending on the trading activity within 30 days, and the account tier level.

There are numerous simple, everyday use cases for the BNB token. For instance, if you want to pay for your hotels and flights, you can also use the BNB token. Even online shopping, buying virtual gifts and making investments are possible.