Binance Coin (BNB) is a Token used on the Binance cryptocurrency exchange. Binance is a new exchange created in 2017 and already one of the biggest cryptocurrency exchanges worldwide.
What is Binance Coin ?
The BNB token can be used to pay for any fees on the platform, including exchanges fees, withdraw fees, listing fees and any other fees. Using BNB tokens to pay for fees gives a significant discount of 50%.
A strict limit of 200 Million BNB will be created, never to be increased. BNB will run natively on the Ethereum blockchain with ERC 20.
In the future, Binance will build a decentralized exchange, where BNB will be used as one of the key base assets as well as gas to be spent.
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