$BNB
BNB (Binance Coin) Explained
BNB is the native cryptocurrency of Binance, one of the world’s largest crypto exchanges. It was originally launched in 2017 as an ERC-20 token on Ethereum but later migrated to Binance’s own BNB Chain.
Uses of BNB:
1. Trading Fee Discounts: Users get reduced fees when paying with BNB on Binance.
2. BNB Chain Utility: Used for transactions, smart contracts, and dApps on the BNB Chain.
3. Staking & Earning: Can be staked or used in Binance Earn for passive income.
4. Payments: Accepted by various merchants and platforms for services.
5. Token Burns: Binance regularly burns BNB to reduce supply and increase scarcity.
BNB is a key part of Binance’s ecosystem and has various use cases beyond trading.