What is Binance Coin?
Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, one of the world’s largest cryptocurrency exchanges. Initially launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB later migrated to Binance’s own blockchain. BNB is used to pay trading fees on the Binance exchange, participate in token sales on Binance Launchpad, and as a payment method across various platforms.
Whitepaper: binance.com
How does Binance Coin work?
BNB functions as a utility token within the Binance ecosystem. Users can use BNB to pay trading fees at a discount, participate in new token launches, and cover transaction fees on both Binance Chain and Binance Smart Chain. In addition, BNB is accepted as a payment method by various merchants and service providers.
The token
Ticker: BNB
Category: Utility Token
Blockchain: Binance Chain, Binance Smart Chain
Protocol: Proof of Staked Authority (PoSA)
Year of launch: 2017
The technology behind Binance Coin
Binance Coin operates on both the Binance Chain and the Binance Smart Chain (BSC). Binance Chain is optimized for fast transactions and hosts the Binance DEX (decentralized exchange). Binance Smart Chain supports smart contracts and is compatible with the Ethereum Virtual Machine (EVM), allowing developers to easily build and migrate decentralized applications (dApps).
The Binance ecosystem
The Binance ecosystem offers a wide range of services and applications. These include the Binance exchange, where users can trade BNB, staking and yield farming through Binance Earn, NFT marketplaces, DeFi protocols, and payments via Binance Pay. Thanks to its broad adoption and integration, BNB remains a key player in the crypto industry.
Who founded Binance Coin?
Binance Coin was launched by Binance, a cryptocurrency exchange founded by Changpeng Zhao (CZ) in 2017. CZ has extensive experience in both the financial and blockchain sectors and has grown Binance into one of the largest and most influential platforms in the crypto space.
Price at this moment
24h ago
€531.85
The value of Binance Coin 24 hours ago
24h highest price
€536.18
The highest value of Binance Coin the last 24 hours
24h lowest price
€526.16
The lowest value of Binance Coin the last 24 hours
24h difference
€1.03
The value in which Binance Coin has dropped or increased the last 24 hours
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Please note: for more information about this crypto asset, consult the official material provided by the project via academy.binance.com.
Before trading, make sure to read the general risk warning about crypto asset trading:
Cryptocurrencies, including Binance Coin (BNB), are volatile and involve risks. The value of BNB can fluctuate significantly, and investments may result in financial losses. Always do your own research and only invest money you are prepared to lose.
The BTC Direct disclaimer van be found here: https://btcdirect.eu/de-at/disclaimer