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Binance Coin, denoted by BNB, is a native coin of the Binance cryptocurrency exchange. It was launched in 2017 with an initial coin offering (ICO) and was issued as an Ethereum-based token. In 2019, Binance launched its own blockchain, and BNB since then has become the native currency of the Binance Chain (BC) and a globally valuable cryptocurrency with a large market cap.

The coin was established with a total supply of 200 million. Tokens in circulation are used for discounted trading on Binance Exchange. The discount rate started at 50% in the first year, scheduled to be cut in half every year. By the fifth year, there will be no discount which will affect the value of the token. To counter the value depreciation, Binance every quarter is destroying BNB based on the trading volume planning to eliminate half of the tokens in circulation.

Almost half the funds raised during the ICO process were intended to be used for Binance branding and marketing, while about one-third were used to build the Binance platform and perform necessary upgrades to the Binance ecosystem. In September 2020 Binance Company developed a network that was specifically designed to run applications based on smart contrast, the Binance Smart Chain. BSC runs in parallel with Binance's native Binance Chain, allowing its users to have both worlds: BC's high trading capacity and BSC smart contract functionality.
  • Quick Transactions
    Using BNB to trade on the exchange, you will have access to Binance's matching engine which can support up to 1.4 million orders every second.
  • Smart Contracts
    BNB can also be used to run smart contracts on BSC.
  • BNB Payment Options
    BNB is accepted by merchants around the world as payment for travel services including hotel stays and airline tickets, entertainment services including music and gaming, and financial services such as loans and investment products.
*The indicators above, do not represent an investment advice and should not be treated as such. Please make your own research and risk assessment before exchanging your assets.
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