What is BNB?
BNB is the cryptocurrency coin that powers the Binance ecosystem. As one of the world's most popular utility tokens, not only can you buy or sell BNB like any other cryptocurrency, but BNB comes with a wide range of applications and benefits.
History of BNB?
BNB is a cryptocurrency (token) that was created by Binance back in 2017. It was first issued and launched during an Initial Coin Offering (ICO) crowdfunding event, which took place between the 26th of June to the 3rd of July.
BNB was initially issued as an ERC-20 token (on the Ethereum platform), but it will be soon transferred to the main Binance Chain. The initial total supply of BNB was defined as 200,000,000 coins, but due to the regular coin burn events, the supply is gradually decreasing.
Usecases of BNB
BNB has multiple use cases, but within the Binance Exchange ecosystem, it is used as a utility token that allows users to receive discounts when paying for their trading fees.
Where To Buy BNB?
BNB can be purchased from most popular crypto currency exchanges such as Binance, Bithumb, KuCoin, and FTX. Since BNB is the native coin of the Binance exchange, some competing exchanges have not listed BNB on their platforms. Coinbase, Huobi, Bitfinex, Bitstamp, and Kraken don’t offer BNB trading yet.
CertiK audit was conducted to discover issues and vulnerabilities in the source code of Binance(BNB)’s Smart Contracts.
- Static Analysis - All checks passed and no issues were detected - 100
- On-chain Monitoring - Healthy based on real-time transactional tracking systems - 94
- Social Sentiment - Positive based on social monitoring and sentiment analysis - 92
- Governance & Autonomy - Strong based on checking and tracking of privileged movements - 94
- Market Volatility - Robust based on indicators over trading volume/liquidity/depth - 100
- Safety Assessment - Excellent based on 15 safety and hazard evaluations - 90
Frquently Asked Questions
- What is Binance Chain, or Binance DEX?
- What is the design principle of Binance Chain?
- What can you do on Binance Chain?
- Will Binance Chain introduce more features and transaction types in the future?
- What is the native coin on Binance Chain?
- How can I register on Binance Chain/DEX and start trading?
- There is no need to register. All you need is a Binance Chain address, which can be generated with any wallet that supports Binance Chain. Then you can trade BNB or other assets stored on that address.
- How can I send orders on Binance DEX?