BNB stands for Build and Build, but in the context of cryptocurrency, BNB refers to Binance Coin.
Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, which includes the Binance exchange, Binance Smart Chain, and other related services.
BNB was created in 2017 as an ERC-20 token on the Ethereum blockchain. Later, in 2019, BNB was migrated to the Binance Smart Chain, which is a separate blockchain designed for high-performance and low-latency transactions.
BNB has several use cases, including:
1. _Trading fee discounts_: BNB holders can receive discounts on trading fees when using the Binance exchange.
2. _Payment for services_: BNB can be used to pay for various services within the Binance ecosystem, such as listing fees, withdrawal fees, and more.
3. _Staking and voting_: BNB holders can participate in staking and voting processes to help govern the Binance ecosystem.
4. _Investment_: BNB can be bought, sold, and traded like other cryptocurrencies, making it a popular investment option.
Overall, BNB plays a crucial role in the Binance ecosystem, providing a convenient and efficient way for users to interact with various services and products.