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BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem. It started as an ERC-20 token on Ethereum but later migrated to Binance Chain and now operates on BNB Smart Chain (BSC).

Here’s a quick rundown:

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Use Cases of BNB

• Trading fee discounts on Binance exchange

• Gas fees on BNB Smart Chain (similar to ETH on Ethereum)

• Staking & Yield Farming on DeFi platforms

• Token sales via Binance Launchpad

• Online and in-store payments with select merchants

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BNB as an Asset

• Utility: High, due to its wide use on Binance and in DeFi

• Burn Mechanism: Binance regularly burns BNB, reducing supply and potentially increasing value

• Volatility: Like most cryptos, it’s volatile but more stable than many altcoins

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Investment Tip

If you’re holding BNB:

• Diversify by also holding BTC, ETH, or stablecoins like USDT or BUSD

• Consider staking BNB or using it in liquidity pools if you’re active in DeFi

• Watch for Binance news, as regulatory changes or exchange developments directly affect BNB’s price