Last Update: July 21st, 2021

Binance Coin is the crypto-coin issued by the Binance exchange, and it trades under the symbol BNB. Binance Coin runs on the Ethereum blockchain with ERC 20 standard, but it will be soon transferred to the main Binance Chain. Basically, the word Binance originates from the words “Binary” and “Finance.” It has two concepts.

1: It is one of the world’s leading cryptocurrency exchanges.

2: The BNB Coin is a cryptocurrency that can be used as an intermediary when exchanging money from one crypto-coin to another.

In 2017, ChangPeng Zhao established a Chinese company called Beijie Technology. Beijie is the holding company that runs the Binance exchange. The company headquarters is currently located in Hong Kong. Together with the Binance team, Zhao has been working to boost the growth of the platform into one of the world’s most successful exchanges.

To fund the creation of the exchange platform, the Binance team created a token and raised funds through an Initial Coin Offering. With the help of ICO, they earned almost $ 15 million, which was enough to cover the startup expenses, like hiring new developers, marketing, and bolstering the security of the exchange servers.

It is worth mentioning that the initial total supply of BNB was defined as 200 million BNB tokens, but due to the regular coin burn events, the supply has been slowly decreasing. The Binance coin is expected to boost the Binance exchange operations and its ecosystem. Binance coin is used as a utility token that allows users to receive discounts when paying their trading fees, exchange fees, listing fees, and any other fees on the Binance exchange.

You can also make meaningful donations to charity through the Binance Charity Foundation (BCF) project. BNB will be used as gas on the Binance Chain and the Binance Decentralized Exchange (DEX) shortly. As of now, you can buy BNB directly on the Binance exchange.

The Binance coin’s first-year launch proposal gives a 50% discount on any trades through the Binance coin, but the discount percentage starts to decrease each year thereafter. The second-year discount is 25%, the third-year discount is 12.5%, and the fourth-year discount is 6.25%, with the discount ending from the fifth year onwards.

Binance coins can also use certain ICOs that are listed through Binance’s Launchpad program for investing. New cryptocurrencies will list on the Binance exchange, and the use of Binance will provide a seamless marketplace for trading in a variety of established and new virtual tokens.

The Binance token has also gained support from other partnerships, which has helped to spread its usage. It includes a partnership with Asia’s premier high-end live video streaming platform, Uplive, which sells virtual gifts for BNB tokens to Uplive’s 20 million-strong user-base. Meanwhile, the Binance coin has received additional support from the platform, the mobile app, the VISA debit card, the pioneering payments and the cryptocurrency platform.

How to Purchase the Binance (BNB) Coin?

You will have to consider two situations if you want to purchase Binance (BNB) Tokens.

Major Factors that Influence the Binance Coin – BNB:

Many cryptocurrencies are currently uncontrolled by governments and central banks. However, if there are any changes in the coming years, this could impact the value of Binance.

Historical Data Table:

Binance Coin (BNB) Historical Price Data

Monthly Change