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What is BNB?

BNB (Binance Coin) is the native cryptocurrency of the Binance exchange, one of the largest cryptocurrency exchanges in the world.

It was launched in 2017 as an ERC-20 token but has since migrated to the Binance Chain blockchain.

BNB is used primarily as a utility token on the Binance platform, allowing users to pay for trading fees, listing fees, and other services at a discounted rate.

Binance also periodically burns a portion of BNB tokens, reducing the total supply and increasing the value of remaining tokens.

In addition to its utility on the Binance platform, BNB is also used as a form of payment and investment by many cryptocurrency users.

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