BNS Token is a forthcoming multi-protocol utility token, which is based on a multi-protocol approach over the blockchain. The token is the native coin of Bitbns platform, whereby users can spend their cryptocurrency funds for shopping, payments, and international remittances.
According to the whitepaper of Bitbns, cryptocurrencies are not spendable. Therefore, the platform aims to make cryptocurrencies spendable for the global commerce sector and develop a native currency for the ecosystem.
The Bitbns platform seeks to offer both online as well as offline transactions. Therefore, apart from online transactions, BNS is capable of making transactions offline through Bitbns PAY debit card. BNS aims to provide users with loyalty points and instant discounts. Moreover, the conversion algorithm of Bitbns seeks to ensure instant transactions.
Bitbns aims to use Stop-limit Orders and Bracket Orders for eliminating risks and managing them. Through Stop-limit Order, the platform seeks to ensure that traders enter the market when the price is high. Bracket Order seeks to ensure that traders fix their entry and exit points before the orders are placed. Therefore, both systems aim to help to prevent losses for the traders.
The whitepaper claims that BNS is useful for international remittances, and the team aims to charge a low transaction fee for the purpose. Moreover, the team also seeks to increase the speed of transactions to ensure that such kinds of transactions are made instantly.
