The post How to Buy Binance Coin BNB The.

What is binance coin used for. Can be used to pay network gas fees. This means that it allows the trading of different tokens with each other. Binance coin is an ethereum-based ERC-20 token that will be used to trade cryptos and pay for fees on the Binance exchange.

Thats how the company makes money. When the Binance exchange launched the Binance Coin BNB it was initially an ERC-20 token on Ethereum. First of all Binance operates as a separate business entity in the United States called BinanceUS.

Also BNB can be exchanged on funded cryptocurrency exchanges like any other cryptocurrency. However if you use Binance Coin to pay the fee they will reward you by charging a lower fee. Binance Coin can be used to pay trading fees on the Binance exchange.

Is widely accepted and used across Binance Chain applications. Make credit card payments. MoreoverBinanceUS is available in 43 states excluding New York Texas Vermont Hawaii Idaho.

Beyond the Binance exchange Binance Coin has several uses including the ability to. Trading fee discounts on the Binance exchange. Binance coin has a total of two hundred million tokens.

Binance Coin is the native cryptocurrency of the Binance exchange. Having initially run on the Ethereum blockchain it is now native to the Binance Smart Chain. There only will ever be 100 million BNB in circulation.