Binance Coin (BNB): what you need to knowBinance Coin (BNB): what you need to know

Binance Coin (BNB) is the native cryptocurrency of the Binance ecosystem, one of the world's largest cryptocurrency exchanges. Originally launched in 2017 as an ERC-20 token on the Ethereum blockchain, BNB later migrated to Binance's own chain. BNB is used for paying transaction fees on the Binance exchange, participating in token sales on Binance Launchpad, and as a payment method within various ecosystems.

Source: https://academy.binance.com/en/articles/what-is-bnb

BNB functions as a utility token within the Binance ecosystem. Users can use BNB to pay trading fees with a discount, participate in new token sales, and pay transaction fees on the Binance Chain and Binance Smart Chain. Additionally, BNB is accepted as a payment method by various merchants and service providers.

• Ticker: BNB

• Category: Utility Token

• Blockchain: Binance Chain, Binance Smart Chain

• Protocol: Proof of Staked Authority (PoSA)

• Year of launch: 2017

Binance Coin runs on both the Binance Chain and Binance Smart Chain (BSC). The Binance Chain is optimized for fast transactions and is home to the Binance DEX (decentralized exchange). Binance Smart Chain supports smart contracts and is compatible with the Ethereum Virtual Machine (EVM), enabling developers to easily build and migrate decentralized applications (dApps).

The Binance ecosystem encompasses a wide range of services and applications. This includes the Binance exchange where users can trade BNB, staking and yield farming via Binance Earn, NFT marketplaces, DeFi protocols, and even payments via Binance Pay. Thanks to widespread adoption and integration within the ecosystem, BNB remains an important player in the crypto industry.

Binance Coin was launched by Binance, a cryptocurrency exchange founded by Changpeng Zhao (CZ) in 2017. CZ has extensive experience in the financial and blockchain industries and has made Binance one of the largest and most influential platforms in the crypto world.

BTC Direct has been the European entry point to crypto since 2013. We make buying Binance Coin straightforward, even if it is your first time:

• Trusted in Europe. BTC Direct is registered with the Dutch Central Bank (DNB) and operates under MiCA, the EU regulation for crypto.

• Familiar payment methods. Pay with iDEAL, Bancontact, Sofort, SEPA bank transfer, credit card, PayPal or Apple Pay. Your BNB is on its way within minutes.

• Your coins, your control. We do not store your BNB. After your purchase, your coins are sent straight to your own wallet address.

• Based in the Netherlands, serving all of Europe. Our experts are based in the Netherlands and answer in your language across the SEPA zone. Need help? We are here.

• Start with a small amount. From just €30. The minimum depends on the coin.

Ready to buy your first BNB?

Buy Binance Coin now

Click here for more information about the environmental impact of this specific coin.

More questions about Binance Coin or BTC Direct? Visit our help center for more answers.

Please note: for more information about this crypto asset, consult the official sources of the project at https://www.binance.com/.

Cryptocurrencies, including Binance Coin (BNB), are volatile and carry risks. The value of BNB can fluctuate greatly and investments can lead to financial losses. Always do your own research and only invest money that you are willing to lose.

The BTC Direct disclaimer can be found here.