Let's find out more about what BNB is all about.
What is Binance coin (BNB) and the BNB Chain?
The token is used extensively by crypto investors to trade crypto assets via Binance and, above all, pay the required trading fees on Binance's BNB Chain.
Benefits of Binance coin (BNB)
The BNB token can be purchased from most cryptocurrency exchanges, especially Binance, where the BNB token can be used to reduce trading fees on the exchange.
BNB can also be staked on Binance or DeFi apps to earn passive BNB rewards from generous APYs.
- Read more: Binance Chain hacked for 2 million BNB
In addition, Binance card holders can also make use of BNB to pay for goods and services in online and offline stores across the world.
Holding BNB makes Binance users eligible to participate in exclusive token sales hosted on Binance Launchpad.
As you can tell, BNB is an integral part of Binance and the BNB Chain, described as the fuel that runs the Binance ecosystem.