Binance Coin (BNB) is the native cryptocurrency of Binance, one of the largest cryptocurrency exchanges globally. Launched in 2017, BNB started as an ERC-20 token on the Ethereum blockchain before migrating to its own Binance Chain. It serves multiple purposes within the Binance ecosystem, such as reducing trading fees, powering transactions on Binance Smart Chain (BSC), and enabling participation in token sales on Binance Launchpad.

Initially, BNB was created to offer users discounts on trading fees when using Binance Exchange. Today, its utility has grown far beyond that. BNB is now used for paying transaction fees on Binance Chain, staking, and even for payments with select merchants. Binance also regularly conducts “coin burns,” where a portion of BNB is permanently removed from circulation, reducing supply and potentially increasing its value over time.

Beyond Binance, BNB has become a key asset in the broader cryptocurrency ecosystem. It supports a variety of decentralized applications (dApps), DeFi projects, and decentralized exchanges (DEXs). Whether for trading, investing, or utility in blockchain applications, BNB offers a versatile solution for both beginners and advanced crypto users.