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BNB (formerly Binance Coin) is the native cryptocurrency of the BNB Chain ecosystem, created by the world's largest cryptocurrency exchange, Binance. Originally launched in 2017 as an ERC-20 token, BNB migrated to its own blockchain (BNB Chain, formerly Binance Smart Chain) in 2019.
BNB has multiple use cases within the Binance ecosystem: paying trading fees with a 25% discount, participating in token sales on Binance Launchpad, paying for Binance Card transactions, and covering gas fees on the BNB Smart Chain network. BNB Smart Chain's low gas fees (typically $0.10-0.50) have made it a popular alternative to Ethereum for DeFi.
Binance conducts quarterly BNB token burns, destroying a portion of BNB based on trading volume, with a target to reduce the total supply to 100 million BNB from the initial 200 million. As of 2024, over 52 million BNB have been burned. This deflationary mechanism supports long-term price appreciation.
You can exchange BNB on CryptoSwapPro for any of 200+ cryptocurrencies. The fee is a flat 0.1%, no registration is required for amounts under $10,000/day, and most swaps complete in under 60 seconds. Popular BNB pairs include: BNB to BTC, BNB to ETH, BNB to USDT, BNB to SOL.