Binance coin

BNB is the native token for the Binance Exchange, the largest crypto-currency exchange in the world by trading volume. This currency is used to pay expenses on the trading platform. Additionally, Binance offers users a rebate when charges are paid in BNB rather than Bitcoin.
Share:
Price
Basic
Announcement Date:
2017-05-01
Smart Contract Support:
No
Development Community:
Binance
Binance coin101

What is BNB?

BNB is the native token for the Binance Exchange, the largest crypto-currency exchange in the world by trading volume. This currency is used to pay expenses on the trading platform. Additionally, Binance offers users a rebate when charges are paid in BNB.

BNB is currently a ERC20 token. The total maximum circulating coins for Binance Coin is only limited to 200 million BNB because afterward there will be no BNB coins to be created. Binance will also destroy BNB tokens over time, reducing the total supply of BNB from 200 million to 100 million.

While fee payment is the primary purpose of the BNB token, you can also use it to invest in certain ICOs that participate in Binance’s Launchpad program. Once the ICO is over, these new tokens will automatically list on Binance, creating a seamless marketplace between ICO and exchange.

In early 2018, Binance announced plans to build a decentralised exchange which will co-exist with its current exchange, Once the main chain has been built, BNB will be upgraded to exist on its own blockchian mainnet and become a native token.

Reddit Hot Discussion
Official Binance coin Twitter
Binance - BNB/USD
Binance - BNB/BTC
Binance - BNB/ETH