BNB is a native digital currency of the Binance cryptocurrency trading platform. It was created on the Ethereum blockchain using the ERC20 standard. Here is some information about it ¹:
- *Purpose*: BNB aims to support trading operations while providing convenience and affordability for traders and cryptocurrency enthusiasts.
- *Features*:
- *Maximum Supply*: 200 million BNB.
- *Token Distribution*: 20 million BNB were allocated to angel investors, 80 million to project contributors, and 100 million to participants in the Initial Coin Offering (ICO).
- *Uses*:
- *Paying Trading Fees*: BNB can be used to pay trading fees on the Binance platform, with a 50% discount on fees in the first year.
- *Investments*: BNB can be used for IEO investments listed in the Binance Launchpad section.
- *Payments*: BNB can be used as a payment method at many stores and entities that accept it.
- *Benefits*:
- *Fast Transactions*: BNB provides access to Binance's matching engine, allowing for fast and reliable transaction execution.
- *Security*: The Binance platform has strong security features, including a multi-tier and multi-cluster system architecture and a Secure Asset Fund for Users (SAFU).
- *Asset Protection*: You can secure your BNB assets using hardware wallets like Ledger Nano S and Ledger Nano X, which provide an additional layer of security against advanced threats ².