When you step into the world of Binance, one name keeps popping up, BNB. But what
exactly is BNB? Why does it matter so much on Binance? If you’re just getting started, don’t
worry, here is a complete guide.
What Is BNB?
BNB stands for “Build and Build” (it originally meant “Binance Coin”).
It’s a cryptocurrency created by Binance in 2017 to power its growing ecosystem. In short,
BNB is the official token of Binance. Think of it like the heart that keeps Binance alive and
moving.
Initially, BNB was launched as an ERC-20 token (on the Ethereum network), but later,
Binance created its own blockchain — the BNB Chain — and moved BNB there. Today,
BNB is one of the biggest cryptocurrencies in the world by market value.
Key Uses of BNB
BNB isn’t just sitting in your wallet looking pretty. It’s a working coin with multiple
real-world uses inside and outside Binance. Here’s where it shines:
1. Trading Fee Discounts
When you trade on Binance, you normally pay a small fee. But if you pay those fees using
BNB, you get a special discount.
Bottom Line: Holding BNB can save you money every time you trade!
2. Transaction Fees on BNB Chain
If you ever use decentralized apps (DApps) or DeFi services built on the BNB Chain, you’ll
need BNB to pay transaction fees, just like you need ETH for Ethereum.
3. Participating in Launchpads and Launchpools
Want early access to hot new crypto projects? Binance Launchpad and Launchpool often
require you to hold or stake BNB to join and earn new tokens.
4. Payment Services
BNB is accepted by many companies for payments , like paying for travel, shopping online,
and even buying virtual gifts. Binance Pay and other services make it easy to spend your
5. Earning Passive Income
You can stake, lend, or farm BNB on Binance Earn to generate passive income. Instead of
letting your BNB sit idle, you can put it to work and watch it grow.
Why BNB Matters on Binance
You might wonder: Why does Binance push BNB so much?
Here’s the deal:
1. Ecosystem Growth
BNB powers the entire Binance ecosystem. Whether it’s Binance Exchange, Binance Smart
Chain, Binance NFT Marketplace, or DeFi platforms, BNB connects everything together.
2. Loyalty and User Rewards
Binance rewards loyal users who hold BNB with lower trading fees, better access to
promotions, and VIP programs. It creates a tight-knit, active community.
3. Burning Mechanism
Every quarter, Binance burns (permanently destroys) a portion of BNB.
This reduces the total supply over time, making BNB scarcer — and when something gets
scarcer, its value often goes up.
4. Strategic Expansion
With BNB at its center, Binance can innovate faster — launching new blockchains, new
financial products, and even expanding globally without depending on outside tokens.
How to Get BNB
If you’re convinced BNB is a must-have, here’s how you can grab some:
● Buy BNB directly on the Binance app or website using your debit card, credit card, or
fiat deposit.
● Trade other cryptocurrencies like Bitcoin or Ethereum for BNB.
● Earn BNB by joining Binance Earn programs, Launchpools, or even referral bonuses.
Quick Beginner Tips for BNB
● Always keep a small amount of BNB in your Binance account to pay trading fees
easily.
● If you’re using the BNB Smart Chain (BSC), you’ll need BNB for every transaction,
just like gas for a car.
● Watch out for Binance promotions that require BNB holdings — they often offer great
bonuses!
Final Thoughts
BNB is way more than just a token — it’s the lifeblood of the Binance ecosystem.
Whether you’re saving on fees, diving into DeFi, staking for rewards, or grabbing a new
token early BNB makes it all happen.
If you’re serious about making the most of your Binance experience, BNB should be at the
top of your must-know list.
Start small, stay safe, and use BNB smartly.
The more you learn about BNB today, the more powerful your crypto journey becomes
tomorrow!
UP NEXT:
Episode #6
How to use Binance Safely: Tips for Beginners
