Are you new to the crypto market?
BNB is the native cryptocurrency of Binance, one of the largest cryptocurrency exchanges in the world. Launched in 2017, BNB initially served to pay trading fees on the Binance platform, offering discounts to users.
Over time, BNB expanded its utility, becoming essential for the Binance Chain and Binance Smart Chain (BSC) ecosystem, now known as BNB Chain. It is used to pay transaction fees, participate in token sales, and power various decentralized applications (dApps).
Binance conducts quarterly BNB burns, reducing the total supply and potentially increasing the value of the coin. Additionally, BNB can be used for staking, loans, and payments at various establishments.
