What is Binance Coin?
Binance Coin (BNB) is a cryptocurrency developed by Binance, one of the world’s leading digital asset exchanges. Originally launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB has since migrated to Binance’s native blockchain, Binance Chain. BNB can be used to pay trading fees on Binance and its ecosystem at discounted rates. It is also accepted by various merchants, supports transactions in decentralized applications, and enables participation in token sales and staking. Its use extends to making payments or investments, transferring funds globally, and accessing certain Binance-specific financial products. As of late 2025, BNB remains among the top cryptocurrencies by market capitalization.
How to use Binance Coin?
- Set up a secure Binance account.
- Deposit funds (e.g., USD, EUR) to buy BNB via bank card, bank transfer, or crypto deposit.
- Purchase BNB on the Binance platform.
- Store BNB in your Binance wallet or transfer to an external wallet.
- Use BNB to pay Binance trading fees for discounts, participate in token sales, or make payments where BNB is accepted.
The pro's of using Binance Coin
- Lower trading fees on Binance when using BNB for payments.
- Fast transaction speeds due to native Binance Chain infrastructure.
- Wide range of uses: payments, staking, and participation in decentralized applications.
- High liquidity and global accessibility.
- Supported by a stable and reputable exchange platform.
The con's of using Binance Coin
- Limited acceptance outside the Binance ecosystem and selected partners.
- Price volatility typical of cryptocurrencies can affect value.
- Regulatory uncertainty in some regions regarding cryptocurrency use.
- Security risks inherent to digital assets if not stored securely.