$BNB

Binance Coin, or BNB, is one of the most versatile and widely used cryptocurrencies in the market right now, especially within the Binance ecosystem. Here's why holding BNB can be important:

1. Reduced Transaction Fees on Binance

• Discounted Trading Fees: If a user pays trading fees in BNB, he gets a discount (presently up to 25% for spot and margin trading, and 10% for futures).

• This could be very rewarding for active traders, as over some time, it could result in substantial savings.

2. Binance Launchpad Participation

• The Launchpad by Binance is a platform responsible for launching new crypto projects.

• Users who possess and stake BNB will be able to access the IEOs wherein they can invest early in new tokens, usually guaranteeing very high returns.

3. BNB Smart Chain's Gas Fees

• BNB Smart Chain is a blockchain ecosystem for DeFi, NFTs, and dApps.

• To perform any transaction or interact with any decentralized application on the BSC network, one needs to hold BNB to pay the gas fees.

4. Staking and Yield Farming Opportunities

• Staking BNB: On Binance and other platforms, users can stake BNB for rewards as a form of passive income.

• DeFi Integration: On platforms such as PancakeSwap, one can use BNB to provide liquidity and farm yield.

5. Deflationary Mechanism: BNB Burn

• Binance performs BNB burns quarterly, where a portion of BNB is permanently taken out of circulation based on its profits.

• The deflationary mechanism will reduce supply over time, increasing the value of BNB as demand grows.