$BNB (Binance Coin) Crypto Overview

BNB (Binance Coin) is the native cryptocurrency of the Binance ecosystem. It was originally launched in 2017 as an ERC-20 token on the Ethereum blockchain but later migrated to Binance's own blockchain, BNB Chain (formerly Binance Smart Chain & Binance Chain).

Key Features of BNB

Utility Token:

BNB is primarily used to pay for transaction fees on Binance and the BNB Chain, often with discounts.

Users can stake BNB for rewards or governance in decentralized finance (DeFi) protocols.

BNB Burning Mechanism:

Binance regularly conducts token burns using an Auto-Burn mechanism to reduce the total supply over time, increasing scarcity and potentially boosting its value.

BNB Chain Ecosystem:

Supports decentralized applications (dApps) and smart contracts.

Powers projects in DeFi, gaming, NFTs, and more.

Cross-Chain Compatibility:

BNB can be used across multiple blockchains, including Ethereum and other networks, via bridges.

Real-World Use Cases:

Used for payments, travel bookings, online services, and even in physical stores that accept crypto.