#StaySAFU

The **BNB** (symbol: BNB) is the native digital currency of the **Binance Chain** and **Binance Smart Chain** (BSC), developed by the **Binance** platform, one of the largest cryptocurrency exchanges in the world.

### **Basic Information about BNB**:

- **Full Name**: Binance Coin (BNB).

- **Launch Date**: July 2017 (as an ERC-20 token on Ethereum, then migrated to its own chain).

- **Main Uses**:

- Paying trading fees on the Binance platform (discount when using BNB).

- Running smart contracts on Binance Smart Chain (BSC).

- Participating in initial coin offerings (Launchpad).

- Trading and investing as a digital asset.

### **Features of BNB**:

✅ **Periodic Coin Burn**: Binance periodically burns a portion of BNB to reduce supply and increase scarcity.

✅ **Low Transaction Costs**: Compared to Ethereum, BSC offers much lower fees.

✅ **Wide Popularity**: Due to Binance's support and the proliferation of BSC in the DeFi and NFT world.

### **Criticism and Risks**:

⚠ **Centralization of Binance Smart Chain**: Considered less decentralized than Ethereum.

⚠ **Vulnerability to Hacks**: BSC has experienced some security vulnerabilities in smart contracts.

⚠ **Market Volatility**: Like any cryptocurrency, it is subject to significant fluctuations.

### **Current Price of BNB** (updated periodically):

- **Market Capitalization**: Among the top 5 cryptocurrencies.

- **All-Time High Price**: Reached ~$686 in May 2021.

### **Summary**:

BNB is a strong coin backed by Binance, playing a key role in the BSC economy.