Today, BNB Coin can be traded on multiple platforms and blockchains around the world - either as BNB or Wrapped BNB (WBNB). When writing this summary about BNB, it's the 3rd largest cryptocurrency by market cap. Binance.com is the obvious website to buy, sell, trade, pool and stake BNB in a simple manner.
A Bit About BNB Coin
The BNB coin is something everyone needs to have in their wallets, since most new cryptocurrencies are based on BSC-20 - the blockchain behind BNB. Before, it used to be called Binance Coin - but there is a wish to separate themselves from Binance, allowing them to be traded in the U.S and not be classified as a security. That's they they are doing a lot of efforts to change the names and set-up.
BNB is the native coin of BSC and one of the five biggest cryptocurrencies in turn of daily turnover.CryptoLists.com
The Binance coin was officially launched in 2017 and worked initially on the Ethereum Blockchain with the ERC-20 token and changed name to BNB in February 2022. BNB stands for “Build and Build" and aims to characterise the wide usage that the native Binance coin have for dApps.
Utility of BNB Coin?
BNB is the 3rd largest crypto coin in the world. They got their own blockchains called BSC20 and BEP-20. It's very affordable to trade, since the gas fees and transaction costs are competitive, especially for a coin with this kind of volume. The main risk for BNB is regulation, since U.K already banned Binance UK from operating. If U.S and other jurisdictions follow, this could be a huge risk factor for the BNB price. However, Binance are taking lots of action to avoid being classified as a security in the US. The BNB coin is a transaction coin, that is used for gas in the BNB chain.
BNB Coin Price detailsBNB Contract address: 0xbb4CdB9CBd36B01bD1cBaEBF2De08d9173bc095c
›› Details & Tokenomics
›› BNB tokenomics and social media
Advantages of BNB Coin+ Low transaction and gas fees.
+ Buying, selling and trading BNB is a fast experience.
+ Great amount of liquidity is available.
+ One of the top 3 cryptocurrencies in the world.
+ Huge support from the crypto industry - almost everyone accept the BNB coin.
Disadvantages- All tokens don't support exchange with BNB.
- The lack of regulation in most jurisdictions is the main challenge.
- Many websites offer high fees when buying BNB.
- A very addictive coin with so many tokens available for exchange.
Costs▪ Rated at 9/10
The costs in the form of gas fee and transaction fees are way lower than the main competitor - Ethereum. However, Solana (SOL), Polygon (MATIC) and Avalanche (AVAX) still got considerably lower transaction costs. That being said, it's seldom you pay above 1 USD for transactions with BNB.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 10/10
BNB got an excellent reputation, going from ERC-20 to their own blockchain - and 1000's of coins following them. It's the leading alternative to ETH tokens today, even if the daily transaction volume is way lower than both ETH and USDT. The buzz for BNB is amazing and has only been increasing the last few years.
What can BNB be used for?
The BNB Coin is the utility token for 2 exchanges, the Binance exchange, and the Binance.US exchange. Beyond exchange use, BNB can be used:
To Pay the Platform’s fees
Make purchases on a variety of applications such as DApps and Binance powered games
To buy virtual gifts
Pay for travel arrangements
Is usable in the Binance Liquidity Swap
To donate Binance Charity
Is BNB a good hold?
According to the latest statistics over major coin, Binance is the 3rd biggest cryptocurrency in the world after Bitcoin and Ethereum. If you decide to hold BNB, these are a few benefits and bonuses that you can advantage of that are offered by the platform:
Binance allows users to apply for a crypto loan.
BNB holders can get access to VIP programs that allow them to save more.
Holders can also buy assets and earn rewards in the IEO.
What is the highest value Binance Coin ever had?
The highest BNB price ever was recorded earlier this year on the 3rd of May where it traded at 677.13 USD, before it went down again. DigitalCoin’s forecast has the price at an average of 1027.73 USD in 2022 and 1214.60 USD in 2023 and 1785.22 USD by 2025.
How much BNB was sold in the ICO?
At its Initial Coin Offering in July of 2017 the tokens were distributed among three main participants:
Public sale – 100 million BNB (50%)
Founding team – 80 million BNB (40%)
Angel Investors – 20 million (10%).
Screenshots from BNB Coin
Related crypto site? Learn more about BinanceBNB is a utility token for the exchange Binance, so it's worth reading more about the company behind below.
Binance is a crypto-exchange platform founded by Changpeng Zao in 2017. The founder initially set it up in China but soon moved to Japan and later the Cayman Islands due to increased regulation from the two governments. However, it didn't stop them from growing. In 2 years, Binance grew to be the biggest crypto-exchange platform globally...
›› Read our full Binance review here or more directly at their website here.
Largest on crypto. Over 200 cryptocurrencies to trade, both currency exchange with a wallet, CFD trading, staking and much more.
›› Sign up at Binance here