BNB (Binance Coin) is the native currency of the Binance platform, one of the largest cryptocurrency trading platforms in the world. It was launched in July 2017 as an ERC-20 token on the Ethereum network and then migrated to the BNB Chain after its launch in September 2020.
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🔍 What is BNB?
Initially, BNB was used to reduce trading fees on the Binance platform. Over time, its uses expanded to include:
Pay trading fees: A discount of up to 25% when paying with BNB.
Participation in Launchpad and Launchpool: Participate in Initial Exchange Offerings (IEOs) and mining new tokens.
Payments: Using BNB for payments via Binance Pay and the Binance card.
Staking: Benefit from returns by staking BNB.
Governance: Participation in network decision-making on BNB Chain.
Liquidity: Adding BNB to liquidity pools in decentralized finance applications.
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📈 Market Information (up to June 2025)
Market Capitalization: Approximately $85.3 billion.
Ranking: BNB ranks fifth in market capitalization among cryptocurrencies.
Circulating Supply: The total supply of BNB is approximately 165 million units, with a plan to reduce the supply to 100 million units through periodic burns.
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🛒 How to buy BNB
You can easily buy BNB through the Binance platform by following these steps:
1. Create an account: Sign up on the Binance platform via the website or app.
2. Identity verification: Complete the KYC process to increase withdrawal limits.
3. Deposit funds: Use a credit/debit card, bank transfer, or P2P trading.
4. Buy BNB: Choose BNB as the purchase currency and complete the transaction.
For more details, you can visit the official Binance guide:
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⚠️ Important Notes
Risks: BNB is considered a cryptocurrency, meaning it is subject to price volatility.
Legal Compliance: Binance is subject to regulatory oversight in many countries, which may affect its services.
Security: Make sure to use strong passwords and enable two-factor authentication (2FA) to protect your account.
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📊 Summary
Feature: Description
Uses: Fee discounts, payments, staking, governance, liquidity
Market Capitalization: Approximately $85.3 billion
Circulating Supply: Approximately 165 million BNB
Buying Methods: Card, bank transfer, P2P, Google Pay, Apple Pay
Risks: Price volatility, regulatory oversight
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If you want to learn more about how to use BNB in decentralized applications or staking strategies, I would be happy to provide more information.
