BNB

What is BNB?

BNB is the native cryptocurrency of the Binance cryptocurrency exchange, one of the largest and most popular exchanges in the world. Binance was launched in 2017 by Changpeng Zhao, a Chinese-Canadian entrepreneur, and quickly grew to become one of the most popular destinations for cryptocurrency traders due to its low fees, wide range of trading pairs, and user-friendly interface.

BNB was created as a way to incentivize users to trade on the Binance platform. Users who pay their trading fees with BNB receive a discount, with the amount of the discount decreasing each year until it is phased out entirely. This has helped to drive demand for BNB and has made it one of the most valuable and widely traded cryptocurrencies in the world.

In addition to being used for trading fees, BNB has a number of other use cases. It can be used to pay for various services on the Binance platform, such as listing fees for new cryptocurrencies. Binance has also created a number of other products that use BNB, such as Binance Launchpad, a platform for launching new cryptocurrencies through a token sale.

Overall, BNB has become an important cryptocurrency in the cryptocurrency ecosystem due to its association with Binance, one of the largest and most influential exchanges in the world. Its utility on the Binance platform has helped to drive demand and increase its value, making it a popular investment opportunity for those interested in the cryptocurrency market.