BNB is a digital currency that can be used for trading and paying fees on the Binance platform for cryptocurrency trading. BNB is also the digital currency that powers the BNB chain ecosystem. As one of the most popular and widely used utility tokens in the world, BNB is useful for users across a wide range of applications and use cases.
The BNB coin was launched through an initial coin offering that took place from June 26 to July 3, 2017, which is 11 days before trading started on the Binance exchange. The issuance price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. Although the BNB coin was launched through the initial coin offering, it does not grant users the right to claim profits from Binance nor does it represent an investment in it.
In light of the availability of various applications within and outside the BNB chain ecosystem, BNB serves many purposes. It was initially launched as an ERC-20 token on the Ethereum blockchain, but the BNB coin has transitioned to the BNB main chain. Although the initial total supply was set at 200 million coins, it has gradually decreased due to regular coin burns. The Binance platform displays the current BNB price and updates it in real-time.
