BNB or Binance Coin is a cryptocurrency created by Binance, one of the largest crypto exchanges in the world. BNB is used to pay fees on Binance and other services on their blockchain. It is also used for ICOs on Binance Launchpad and as a trading pair on many other exchanges. BNB gained popularity due to its use and support of Binance.
1. BNB (Binance Coin) was released by Binance in the summer of 2017.
2. BNB is based on the Binance Chain blockchain.
3. BNB was originally created as an ERC-20 token on the Ethereum blockchain.
4. In 2019, Binance migrated BNB to its own Binance Chain blockchain.
5. BNB uses the Delegated Proof of Stake (DPoS) consensus algorithm.
6. The maximum limit of BNB is 200 million tokens.
7. BNB can be used to pay Binance Exchange fees with significant discounts.
8. Every quarter, Binance uses a portion of the profits to buy back and destroy BNB, which helps reduce the total amount in circulation.
9. The percentage of BNB tokens destroyed in the redemption increases every quarter.
10. BNB is also used as a currency for use on Binance Launchpad, a platform for conducting ICOs.
11. BNB tokens can be stored in the official Binance Chain wallet or other compatible wallets.
12. BNB is supported by many cold wallets to store cryptocurrency offline.
13. BNB is also used to pay for goods and services on platforms that accept cryptocurrency.
14. BNB can be traded on numerous crypto exchanges outside of Binance.
15. Binance Card allows users to spend BNB where Visa cards are accepted.
16. BNB has become one of the most capitalized cryptocurrencies in a short period of time.
17. In 2019, Binance launched BNB Vault to store and earn BNB.
18. BNB can be used to vote for changes to the Binance Chain.
19. BNB tokens can be used to participate in other blockchain projects built on Binance Smart Chain.
20. Binance Smart Chain is a parallel blockchain of BNB that supports the creation of smart contracts.
21. PancakeSwap - One of the popular decentralized financial platforms built on the Binance Smart Chain, uses BNB to vote and manage the platform.
22. In June 2021, Binance upgraded the Binance Smart Chain to improve speed and scalability.
23. BNB is also used to create and manage NFTs on the Binance Smart Chain.
24. You can stake BNB to get additional tokens or participate in network voting.
25. BNB is one of the first cryptocurrencies to be added to the Visa and Mastercard payment systems.
26. In 2021, BNB reached its all-time high in value, driven by high demand and the development of the Binance ecosystem.
27. In June 2021, Binance announced plans to create a decentralized exchange (DEX) based on the Binance Smart Chain.
28. BNB is used to create and manage accounts on Binance Smart Chain.
29. In 2021, BNB received support from the PayPal payment system, allowing users to transact with BNB via PayPal.
30. BNB tokens can be converted into other cryptocurrencies or fiat money through various exchanges and platforms.
31. BNB can be used to pay for services on platforms that accept cryptocurrency, including tourism, hotels and others.
32. BNB tokens can be exchanged for other cryptocurrencies
33. Used on other exchanges
