What is BNB (BNB)?
#BNBstrategy (BNB), previously also known as Binance Coin (BNB), is a cryptocurrency coin created and issued by the cryptocurrency exchange Binance. Initially created on the Ethereum blockchain as an ERC-20 token in July 2017, BNB was migrated over to BNB Smart Chain in February 2019 and became the native coin of the Binance Chain.
BNB can be used to pay for fees when trading on Binance, and usually at a discounted rate. Due to the primary utility, BNB has seen massive growth in interest throughout the years . Several rounds of token burn events have appreciated BNB price and pushed it up as one of the top-10 cryptocurrencies by market capitalization.
Binance states that BNB was designed to be used to pay discounted fees on the Binance platform and also function as the native token powering the Binance Chain.
In addition to the initial use cases, BNB has added other cases both on and outside of the Binance platforms. Here’s an overview of BNB use cases:
