BNB is the native coin of the BNB Chain ecosystem, which includes the BNB Beacon Chain and BNB Smart Chain. It has a variety of uses, including reducing trading fees on the Binance exchange, paying for transaction fees on the BNB Beacon and Smart Chains, and participating in token sales on the Binance Launchpad.
BNB was initially issued as an ERC-20 token on the Ethereum network but has since been swapped for BEP-2 BNB on the Binance Chain and BEP-20 BNB on the BNB Smart Chain. It can be used for online and in-store purchases, booking travel, participating in games and DApps, and more. BNB is also used to pay transaction fees on the Binance DEX and to provide liquidity on Binance Liquid Swap. It can be used to pay for trading fees on Binance, with a special discount for those who pay in BNB. The total supply of BNB is lower than the initial supply due to periodic coin burns.
Where is BNB used for?
BNB has a variety of uses, including:
- Reducing trading fees on the Binance exchange
- Paying for transaction fees on the BNB Beacon Chain and BNB Smart Chain
- Paying for goods and services for online and in-store purchases (e.g., using the Binance Card or Binance Pay)
- Booking hotels, flights, and more on Travala.com
- Serving as a community utility token on the BNB Chain ecosystem, such as in games and DApps
- Participating in token sales hosted on the Binance Launchpad
- Donating to Binance Charity
- Providing liquidity on Binance Liquid Swap
BNB is also used to pay transaction fees on the Binance DEX and can be used for trading fees on Binance, with a special discount for those who pay in BNB.
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