BNB, the native token powering the Binance ecosystem, is now available on OKX cryptocurrency exchange. Deposits for BNB will open at 21:00 HKT on December 20, followed by spot trading pairs BNB/USDT and BNB/USDC at 11:00 HKT on December 21. Withdrawals will commence at 11:00 HKT on December 22.
Key Features of BNB
- Ecosystem Utility: Originally launched in 2017 as an ERC-20 token, BNB serves as the backbone of Binance Chain and its decentralized applications.
- Multi-Chain Compatibility: While initially issued on Ethereum, BNB now operates natively on Binance Smart Chain (BSC) with cross-chain capabilities.
- Transaction Fee Discounts: Historically used for reduced trading fees on Binance platforms (though functionality varies by exchange).
Trading Timeline on OKX
| Event | Date & Time (HKT) |
|---|---|
| Deposit Open | Dec 20, 21:00 |
| Spot Trading | Dec 21, 11:00 (BNB/USDT, BNB/USDC) |
| Withdrawal | Dec 22, 11:00 |
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FAQ: BNB Listing on OKX
Q: Why is BNB significant in crypto markets?
A: As Binance’s native token, BNB facilitates transactions across one of the largest crypto ecosystems, including decentralized exchanges and DeFi protocols.
Q: What precautions should traders take when moving BNB?
A: Always verify network compatibility (BSC/BEP-20 vs. other chains) to avoid lost funds. Double-check deposit/withdrawal addresses.
Q: How does OKX’s BNB listing impact market liquidity?
A: Additional exchange support typically increases asset accessibility and trading volume, potentially reducing price volatility.
Q: Can I stake BNB on OKX?
A: While this announcement focuses on spot trading, check OKX’s Earn section for possible staking options post-listing.
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