BNB (formerly Binance Coin) is a cryptocurrency created by Binance in 2017. Initially launched through an Initial Coin Offering (ICO), BNB has evolved into a multi-purpose token with extensive utility across the Binance platform and beyond.
The Origins of BNB
ICO Details:
- Dates: June 26 – July 3, 2017
- Total Supply: 200,000,000 BNB (50% sold during ICO)
- Initial Price: ~$0.11 per BNB (1 ETH = 2,700 BNB or 1 BTC = 20,000 BNB)
- Blockchain Migration:
Originally an ERC-20 token on Ethereum, BNB later transitioned to the BNB Chain, enhancing scalability and reducing transaction costs.
👉 Discover how BNB Chain works
Key Features of BNB
1. Trading Fee Discounts
BNB holders enjoy reduced trading fees on Binance:
- Tiered discounts based on account level and 30-day trading volume.
- Discounts decrease annually (see Binance’s fee schedule).
2. BNB Burning Mechanism
- Regular coin burns reduce total supply, increasing scarcity.
- Over 48 million BNB burned to date (as of 2025).
3. Real-World Applications
- Travel: Book flights/hotels via Binance's partners.
- Shopping: Use BNB for credit card purchases or virtual gifts.
- Charity: Donate via the Binance Charity Foundation.
How to Buy BNB
Purchase BNB directly on:
- Binance Exchange: The primary platform for BNB trading.
- Crypto Wallets: Compatible with Trust Wallet and MetaMask.
FAQs About BNB
1. What is BNB used for?
BNB serves as a utility token for trading fee discounts, payments, and fuel (gas) for BNB Chain transactions.
2. How does BNB burning work?
Binance periodically destroys BNB tokens to decrease supply, potentially increasing value over time.
3. Can I stake BNB?
Yes! Stake BNB on Binance Earn or BNB Chain to earn passive income.
4. Is BNB a good investment?
While BNB offers utility, always research market trends and risks before investing.
5. What’s the difference between BNB and BSC?
- BNB: The cryptocurrency token.
- BSC (BNB Smart Chain): A blockchain supporting dApps and DeFi projects.
Final Thoughts
BNB’s versatility and Binance’s ecosystem make it a standout cryptocurrency. Whether for trading, staking, or everyday purchases, BNB continues to expand its reach in the crypto world.
For more details, visit Binance’s official page.
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