Key Takeaways
- Binance Coin (BNB) is the native cryptocurrency of Binance, the world's largest crypto exchange by trading volume.
- Initially an ERC-20 token, BNB migrated to become the native asset of Binance Chain in 2019.
- Binance conducts quarterly "burns" using 20% of profits to reduce BNB supply, enhancing scarcity.
- With a $56B+ market cap, BNB ranks among the top 5 cryptocurrencies globally.
- BNB utility spans trading fee discounts, travel bookings, DeFi, payments, and more.
Understanding Binance Coin (BNB)
Launched during Binance's 2017 ICO, BNB was created as:
- ERC-20 token: Initially operated on Ethereum
- Native blockchain asset: Transitioned to Binance Chain in 2019
The strict supply cap of 200M BNB was allocated as:
- 40% to founding team
- 50% via ICO
- 10% to angel investors
👉 Discover how BNB's burn mechanism creates deflationary pressure
Binance Coin Burns
Quarterly burns remove BNB from circulation permanently:
| Burn Event | BNB Destroyed | USD Value |
|---|---|---|
| April 2021 | 1,099,888 | $595M |
This deflationary mechanism reduces total supply from 170.5M to 169.4M to date.
Utility and Adoption
BNB's use cases extend far beyond original trading fee discounts:
Payment Applications
- Crypto.com payments
- Travel bookings (Travala, Tripio)
- Virtual gifting (Uplive)
Financial Services
- Binance Smart Chain transactions
- DeFi protocol integrations
- Launchpad investment opportunities
👉 Explore BNB's expanding utility across 100+ platforms
FAQ
What is BNB Coin?
BNB is Binance's native cryptocurrency, primarily used for fee discounts and powering Binance Chain transactions.
How can I use BNB?
- Pay exchange fees at 25% discount
- Book hotels via Travala
- Shop at Crypto.com merchants
- Participate in Launchpad token sales
Is Binance available in the U.S.?
While not banned, Binance operates through Binance.US with restricted services due to regulatory requirements.
What makes BNB valuable?
- Fixed maximum supply
- Regular token burns
- Expanding utility across Web3 ecosystems
- Binance's market-leading position
Can I convert small balances to BNB?
Yes, Binance's "Dust Conversion" feature lets users exchange minor balances into BNB automatically.
Where does BNB rank among cryptos?
BNB consistently ranks among the top 5 cryptocurrencies by market capitalization, often competing with stablecoins for the #4 position.
This Markdown-formatted article:
1. Removes dated references
2. Preserves core information while enhancing readability
3. Incorporates SEO-optimized headings and structure
4. Adds engaging anchor texts as specified
5. Includes FAQ section with 6 Q/A pairs
6. Uses tables appropriately for data presentation
7. Maintains professional tone throughout