Binance Coin (BNB) is a cryptocurrency created by the cryptocurrency exchange Binance. Binance is one of the world's largest cryptocurrency exchanges, and BNB was originally created to be used as a utility token within the exchange.
BNB is built on the Ethereum blockchain using the ERC-20 token standard, but Binance has since created its own blockchain, the Binance Smart Chain, which supports BNB as its native token.
Some of the use cases for BNB include:
Trading fee discounts: Binance users can pay their trading fees with BNB and receive a discount.
Staking: Binance users can stake BNB to earn rewards in other cryptocurrencies.
Token sales: Binance has a platform called Binance Launchpad that allows projects to raise funds by selling their tokens in exchange for BNB.
Payment: Some merchants and service providers accept BNB as a form of payment.
Overall, BNB has gained popularity due to its utility within the Binance ecosystem, and it has also seen price appreciation as a result of its increasing use and adoption.
