#BSCUserExperiences $BNB $BNB Understanding BNB Coin: Binance’s Native Cryptocurrency

BNB (Build and Build) is the native cryptocurrency of Binance, one of the world’s largest cryptocurrency exchanges. Initially launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB later migrated to Binance’s own blockchain, Binance Chain, and now primarily operates on Binance Smart Chain (BSC), a parallel chain designed for fast, low-cost decentralized applications.

BNB has multiple use cases within the Binance ecosystem. Users can pay for trading fees on Binance at discounted rates, participate in token sales through Binance Launchpad, and use BNB in a wide range of DeFi (Decentralized Finance) applications and NFT platforms on BSC. It’s also accepted by various merchants for online payments and services.

Binance employs a quarterly "burn" mechanism, where a portion of BNB is permanently destroyed, reducing the total supply and potentially increasing its value over time. This deflationary approach is intended to support long-term price stability.

With its broad utility and backing by Binance, BNB has grown to become one of the top cryptocurrencies by market capitalization, making it a significant player in the evolving crypto space.