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What is BNB coin used for?

How BNB coin is used on Binance and BSC. Binance is currently one of the largest cryptocurrency exchanges. It launched with an ICO in 2017.

BNB coin

BNB is the utility token of Binance and the native token of Binance Smart Chain.

BNB coin is used for

  • Pay fees on Binance Smart Chain
  • Incentives on Binance
  • Discounts on trading fees

How could value accrue to the BNB?

Pay fees

  • To use and send transactions on BSC

Holding

  • Discounts and perks on Binance

Burn

  • Binance burns BNB every quarter.

What is Binance?

Binance is currently one of the largest cryptocurrency exchanges. It launched with an ICO in 2017.

In addition to a traditional exchange it features several products for interacting with DeFi in a user-friendly way.


With Binance as an intermediary users can

  • Lend
  • Save
  • Stake
  • Borrow

It also features crypto Visa card, NFT platform and more.

BNB on Binance

  • 40% – referral fees
  • 25% – Spot fees
  • 25% – Margin fees
  • 10% – Future trading fees
  • VIP
  • Launchpad entry
  • Merchant discounts

Stake

Users can stake BNB via Binance to earn rewards.

What is Binance Smart chain?

Binance Smart Chain uses the Ethereum Virtual Machine is similar to Ethereum as a blockchain. It has lower fees and is more centralized – in simple terms.

Token Isssuance

Total supply: 200 000 000

Presale: $0.1 BNB ICO

Docs

Similar projects

BNB coin price

Crypto Taxes

Yeetfi uses Koinly (affiliate) for taxes on crypto. We tried several services and Koinly was the only one that actually worked.