What is BNB (Binance coin)?
BNB (Binance Coin) is the cryptocurrency developed by Binance, one of the world’s largest crypto exchanges. BNB was originally launched as a tool to pay fees on the Binance platform but has since gained many more use cases.
Today, BNB is used for staking, payments, NFT purchases, and as the fuel for BNB Smart Chain – a blockchain that allows the development of smart contracts and decentralized apps, similar to Ethereum. Binance Smart Chain is therefore considered one of Ethereum’s challengers.
BNB is one of the world’s largest cryptocurrencies by market capitalization, and its close ties to the Binance ecosystem are a key reason why many see it as valuable.
