BNB is a digital currency that can be used to trade and pay fees on the Binance platform for cryptocurrency trading. BNB is also the digital currency that powers the BNB ecosystem. As one of the most popular and well-known utility tokens in the world, BNB is useful for users in a wide range of applications and use cases.
The BNB coin was launched through an initial coin offering that took place from June 26 to July 3, 2017, which is 11 days before trading began on the Binance trading platform. The issuance price was 1 ETH for 2,700 BNB or 1 BTC for 20,000 BNB. Although the BNB coin was launched through the initial coin offering, it does not grant users the right to claim profits from Binance nor does it represent an investment in it.
In light of the availability of multiple applications within the BNB ecosystem and beyond, the BNB coin serves many purposes. It was initially launched as an ERC-20 token on the Ethereum blockchain, but the BNB coin has since migrated to the BNB mainnet. Although the initial total supply was set at 200 million coins, it has gradually decreased due to regular coin burns. The Binance platform displays the current price of BNB and updates it in real-time.
