Binance Coin

Binance Coin is a cryptocurrency created by Binance, one of the largest digital asset exchanges. It was launched in July 2017 and is based on Ethereum ERC-20 standard. The main purpose of BNB is to provide a token that can be used within Binance’s ecosystem for payments and fees, allowing users to gain access to discounts and additional services.

Another advantage and use-case of Binance Coin is its reduced transaction fees when trading cryptocurrencies inside Binance exchange. For example, if you use this native token while trading you can benefit from up to 50% discounts compared to using other digital assets like Bitcoin or Ethereum. This makes it very attractive for traders who are looking for low-cost access to volatility. Not only that but BNB can also be used as collateral when taking out a loans on decentralized finance (DeFi) platforms.

Due to success and popularity of Binance exchange, Binance coin has seen significant price appreciation since its launch in 2017, not only outperforming other exchange tokens but even entering into the top 10 most valuable virtual currencies overall.