Currencies > Binance Coin (BNB)

Binance Coin (BNB)

What is Binance Coin?

Binance coin is a cryptocurrency issued Binance – a well-known cryptocurrency exchange. The coin is based on the Ethereum blockchain and is generally similar to ETH – BNB also plays the role of a fuel coin of Binance network. The coins is usually used for paying services – trading and exchange fees, listing fees and so on. Besides that, Binance Coin can be traded on exchange platforms. The total of 200 million BNB was mined by the company.

What are the advantages of Binance Coin?

  • Growing base of users.The more transactions are held by Binance, the more BNB market cap is.

  • Functionality.Binance Coin is not limited by peer-to-peer transactions, as BNB is also collecting revenue for the whole exchange platform. Those who use BNB on Binance have such benefits as better rates and discounts.

  • Economic model.Binance features a model that will allow burning 100 million tokens. If supply decreases, the demand and value of the token will grow.

How to store Binance Coin?

Binance provides a wallet that can be used for BNB as well as other supported cryptocurrencies. Apart from the official storage, BNB can be held in the wallets compatible with Ethereum.

How to buy Binance Coin?

Binance Coin mining is not possible, therefore BNB can be purchased on Binance (that allows pairing BNB with more than 70 cryptocurrencies and on other major cryptocurrency exchanges. You may always check the most relevant Binance coin price and Binance coin price chart on CoinMarketCap.One of these services is ChangeNOW, a leading non-custodial cryptocurrency exchange.

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Don't forget that ChangeNOW is the best way to buy or exchange your crypto to Binance Coin (BNB)!