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What is BNB Coin?
Binance Coin (BNB) is a cryptocurrency issued by the Binance exchange and serves as its native token. It is a digital asset that can be used to trade and pay fees on the Binance platform. BNB also serves as the de facto currency for projects on the Binance Smart Chain (BSC) ecosystem.
BNB was initially created as an ERC-20 token on the Ethereum blockchain in July 2017.
It was later migrated to the Binance Smart Chain (BSC) and is now a BEP-20 token.
The Binance Smart Chain (BSC) was renamed to BNB Chain in February 2022, along with the token's name change to Build'N'Build.
Key Features and Uses:
1. Users who hold BNB receive a discount on trading fees on the Binance exchange.
2. BNB is used for various functions within the Binance ecosystem, including payments, travel bookings, and entertainment.
3. BNB is the native token for the Binance Smart Chain (BSC), the blockchain platform for decentralized applications (dApps).
Auto-Burn System:
A portion of BNB tokens is regularly burned, reducing the circulating supply and potentially increasing its value.
Final Thought:
BNB is a Crypto Currency Trade on different Crypto Platform it's a Digital Asset and used for Trade and Pay Fees on Binance Platform.
Binance Coin (BNB) is a cryptocurrency issued by the Binance exchange and serves as its native token. It is a digital asset that can be used to trade and pay fees on the Binance platform. BNB also serves as the de facto currency for projects on the Binance Smart Chain (BSC) ecosystem.
BNB was initially created as an ERC-20 token on the Ethereum blockchain in July 2017.
It was later migrated to the Binance Smart Chain (BSC) and is now a BEP-20 token.
The Binance Smart Chain (BSC) was renamed to BNB Chain in February 2022, along with the token's name change to Build'N'Build.
Key Features and Uses:
1. Users who hold BNB receive a discount on trading fees on the Binance exchange.
2. BNB is used for various functions within the Binance ecosystem, including payments, travel bookings, and entertainment.
3. BNB is the native token for the Binance Smart Chain (BSC), the blockchain platform for decentralized applications (dApps).
Auto-Burn System:
A portion of BNB tokens is regularly burned, reducing the circulating supply and potentially increasing its value.
Final Thought:
BNB is a Crypto Currency Trade on different Crypto Platform it's a Digital Asset and used for Trade and Pay Fees on Binance Platform.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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