Binance Coin (BNB) is the native cryptocurrency of the Binance exchange, one of the largest and most popular platforms for trading digital assets. Initially launched as an ERC-20 token on Ethereum in 2017, BNB has since migrated to Binance’s own blockchain, Binance Chain.

BNB primarily serves several functions within the Binance ecosystem. Users can use it to pay for trading fees on the exchange, often receiving discounts for transactions made with BNB. Additionally, it can be used for token sales on Binance Launchpad and as a method of payment across various applications and services within the Binance network.

The coin has also gained utility beyond the exchange, being accepted by merchant partners for payments, supporting decentralized finance (DeFi) projects, and enabling users to participate in various staking and investment opportunities. BNB has evolved through several upgrades, and its supply is systematically reduced through a process called “coin burn,” intended to increase scarcity and potentially drive its value.