🪙 What is Binance Coin (BNB)?

Summary in one sentence:

BNB is a 'universal token' issued by Binance exchange, which can be used to offset fees, purchase NFTs, and even participate in new projects. It is the 'universal points' in the cryptocurrency world.

🧑‍💻 Who invented it?

BNB was launched by one of the world's largest cryptocurrency exchanges - Binance in 2017.

The founder is the Chinese entrepreneur 'Zhao Changpeng' (CZ), nicknamed 'The Prince of Cryptocurrency'.

📈 What are the uses of BNB?

BNB is not just a 'coin'; it has many practical uses:

Usage scenarios📉 Discount on trading fees (up to 25% off)

🚀 Participation in new projects' purchases through Launchpad, IEO

🏦 Binance savings to earn interest by depositing BNB

🌐 Participation in DAPPs, games, and NFT markets on the BSC chain within the Web3 ecosystem

🎁 Payment method accepted by certain merchants/platforms

🔥 Why is BNB popular?

Binance is the largest exchange globally, leading to high demand for BNB.

BNB is regularly burned every quarter, reducing its total supply over time.

BNB is the fuel token for **Binance Smart Chain (BSC)**, supporting the DeFi ecosystem.

It is not just a 'platform coin', but the core currency of the entire ecosystem.

🧨 Are there risks?

Of course, there are:

⚠️ The value of BNB is highly dependent on the development of 'Binance'.

⚠️ Regulatory policies may affect the usage of BNB.

⚠️ High centralization, with some people concerned that Binance has the final say.