What is the BNB currency?
BNB = the official currency of the Binance platform
It was launched in 2017 by the famous trading platform Binance and is considered one of the strongest cryptocurrencies in terms of daily usage and relative stability.
What does BNB do?
- It is used to reduce trading fees on the Binance platform by up to 25%.
- It is used to reserve spots in new projects (Launchpad).
- It enters the world of DeFi and NFTs within the Binance Smart Chain (BSC).
- It is used for payments, travel, and shopping with some partners.
Its features:
- Quarterly burning of coins: Binance burns part of BNB every 3 months to reduce supply and increase value.
- One of the most practically used currencies.
- Backed by the largest trading platform in the world.
How has it performed previously?
- It started at a price of less than 1 dollar.
- It reached a peak price of about 690 dollars in 2021.
Tips regarding BNB:
✅ Buy BNB if:
- You regularly trade on Binance and want to reduce fees.
- You are looking for a relatively stable project in the cryptocurrency market.
- You believe in the continuous growth of Binance as a platform.
❌ Avoid BNB if:
- You do not use the Binance platform.
- You are looking for projects with explosive and rapid growth like meme coins.
- You do not prefer currencies linked to companies or centralized platforms.
Symbol: BNB
Current supply: about 151 million coins
