BNB BNB is an abbreviation for Binance Coin, which is the native cryptocurrency of the Binance trading platform, one of the largest cryptocurrency trading platforms in the world.

Key information about BNB:

1. Origin:

BNB was launched in 2017 through an Initial Coin Offering (ICO) by Binance.

2. Uses:

Pay trading fees on the Binance platform (with discounts when paid in BNB).

Invest in new projects on the Binance Launchpad.

Pay for services such as hotel bookings, purchasing gift cards, or even some crypto credit cards.

Staking and using it in decentralized finance (DeFi) protocols.

Participate in blockchain networks managed by Binance such as BNB Smart Chain.

3. Types of Networks:

BNB Beacon Chain (formerly Binance Chain): for simple transactions.

BNB Smart Chain (BSC): supports smart contracts and decentralized applications (dApps).

4. Currency Symbol: BNB

And it is usually stored in wallets that support the BEP-20 network (such as Trust Wallet or MetaMask).

5. Burning:

Binance periodically "burns" a portion of BNB coins (permanently destroying them) to reduce supply and increase market value.