Binance Coin (BNB)

Binance Coin, known as BNB, is a digital currency created by the popular cryptocurrency exchange Binance. BNB serves several purposes within the Binance ecosystem, including being used to pay for trading fees on the Binance platform. Users can receive discounts on their trading fees by using BNB.

In addition to being used for trading fees, BNB can also be used to participate in token sales hosted on the Binance Launchpad. This allows users to invest in new cryptocurrencies and projects using BNB. Binance also periodically uses a portion of its profits to buy back and burn BNB tokens, reducing the overall supply in circulation.

BNB has become a popular cryptocurrency due to its utility within the Binance platform and the benefits it provides to users. It is often used by traders and investors who frequent the Binance exchange, as well as those looking to participate in token sales and take advantage of trading fee discounts.