Wondering what Binance Account Bound Token Price Prediction will be when it finally goes live? Then read to the end.
Binance Account Bound Token Price Prediction
Currently, there’s no way for us to speculate on the potential Binance account-bound token due to there being no concrete information about it, just guidance and tutorial on how to mint the Binance account bound tokens.
Frequently Asked Questions on Binance Account Bound (BAB) Token
1. Who can mint BAB tokens on Binance?
BAB tokens are issued by Binance and are non-transferable. Binance users who have completed Identity Verification can mint BAB tokens directly on Binance App.
2. Do I have to pay a gas fee to mint the BAB token?
Yes, you need to pay a gas fee when you mint or revoke your BAB token. Gas fees are charged by the BNB Chain. Binance will deduct the gas fee from your Funding/Spot Wallet directly.
3. Can I mint more than 1 BAB token?
No, each Binance user can only mint one BAB token. However, you can revoke the token and mint a new BAB token if you lose access to the existing token.
Please note that BAB tokens have a 72 hours lock period. This means after revoking your BAB token, you need to wait for the lock period to be over to mint your BAB token again.
4. How to view my BAB token?
Your BAB token will be issued to the wallet you connected during the minting process. You can check your BAB token on a third-party wallet that supports NFTs on BNB Chain (BSC). Before viewing your BAB token, please select your wallet network as [BNB Smart Chain].
5. How to revoke my BAB token?
To revoke your BAB token, go to the BAB token page on the Binance App and scroll down to the FAQ section. You will see a [Revoke Token] link. Visit the link to revoke your BAB token.
6. What happens if I lose access to the BAB token?
If you lost your access to the BAB token, for example, you lost your wallet’s private key, you can revoke the BAB token with your Binance account. Once revoked, you can mint a new BAB token after 72 hours.
7. Can I transfer my BAB token to another wallet address?
If you want to transfer your BAB token to another wallet address, you can revoke it first and mint it to the new address. However, please note that after you revoke your BAB token, you can only re-mint after 72 hours.
8. What can I do with my BAB token?
You can participate in building different projects on the BNB Chain and receive rewards.
About Binance Account Bound Token (BAB)
Binance Account Bound (BAB) tokens are identity credentials for Binance users who completed KYC verification. It will first be issued on the BNB Chain by Binance. A couple of projects on BNB Chain will be introducing the BAB tokens as identity credentials to their communities. Once a verified Binance user creates a BAB token, the user will be able to participate in building the supporting projects on the chain and receive rewards.