Introduction

BNB (Build and Build) is the cryptocurrency that powers the Binance ecosystem. Originally launched in 2017 as "Binance Coin," BNB has evolved from an exchange utility token to the native currency of one of the largest blockchain ecosystems.

BNB serves as the gas token for the BNB Chain (formerly Binance Smart Chain) and provides trading fee discounts on the Binance exchange, among many other utilities.

History

BNB was launched through an ICO in July 2017 to fund the development of the Binance exchange. Initially an ERC-20 token on Ethereum, BNB migrated to its own blockchain in 2019.

The launch of Binance Smart Chain (now BNB Chain) in 2020 significantly expanded BNB's utility, enabling smart contracts and DeFi applications with low fees.

Use Cases

BNB Chain Ecosystem

BNB Chain is one of the largest smart contract platforms by transaction volume and total value locked. It hosts thousands of dApps including:

• PancakeSwap: Leading DEX on BNB Chain
• Venus: Lending and borrowing protocol
• Gaming: Various blockchain games
• NFTs: Multiple NFT marketplaces

Where to Buy BNB

BNB is available on Binance and many other cryptocurrency exchanges. It's one of the largest cryptocurrencies by market cap.

Investment Considerations

BNB's value is closely tied to the success of Binance exchange and the BNB Chain ecosystem. Investors should consider regulatory risks facing Binance and the competition from other smart contract platforms.

Learn more in our crypto investing basics guide.