Binance Coin, or BNB, is a native cryptocurrency of the Binance cryptocurrency exchange platform built on the Ethereum blockchain using the ERC20 standard. Binance has issued a maximum supply of 200 million BNB. The coin was launched in July 2017, through an initial coin offering (ICO) that allocated 20 million BNB to angel investors, 80 million to project contributors and the remaining 100 million to the various people who participated in the ICO.
What are the benefits of Binance Coin?
1. Fast transactions:
If you use BNB to trade on Binance, you will have access to the platform’s matching engine that can support up to 1.4 million orders per second. You can always find the trade you want, and using BNB makes it faster and more reliable.
2. Security:
Binance already has millions of crypto users and traders who rely on the platform and trust Binance’s security and protection features. Binance uses a multi-cluster, multi-tiered system framework and the Secure Asset Fund for Users (SAFU) to keep funds safe.
3. Discount on trading operations:
BNB allows you to get a 50% discount on trading fees, as we mentioned earlier.
4. Participation in ICOs/IEOs:
Binance Launchpad is also hosting new token sales where your BNB can be used to buy a stake in a new coin coming to the platform. Previously, several of these new cryptocurrencies were added to the Binance platform.