BNB (CRYPTO:BNB) is the native cryptocurrency of the Binance exchange, the world's largest crypto exchange by trading volume. It was created in July 2017 and launched through an Initial Coin Offering (ICO) that raised $15 million in funds. BNB is used for a variety of purposes within the Binance ecosystem, including paying for transaction fees on the exchange (with a discount), participating in Initial Exchange Offerings (IEOs), using it as collateral for margin trading, trading against other cryptocurrencies, booking travel and other services on Binance Travel, and staking to earn rewards on Binance Earn. BNB has become increasingly popular due to its low transaction fees, versatility, and wide range of use cases. It is now one of the most valuable cryptocurrencies in the market.
BNB is also used in a variety of other projects, such as the Trust Wallet, a cryptocurrency wallet, and the Binance Card, a prepaid debit card that can be used to spend cryptocurrencies at merchants worldwide.
Booking travel: BNB can be used to book flights, hotels, and other travel arrangements on Binance Travel.
Gas fees: BNB is used to pay gas fees on the Binance Smart Chain, a blockchain network that allows developers to build and deploy decentralized applications (dApps).
Investing: BNB can be used to invest in other cryptocurrencies on Binance Launchpad.
NFT purchases: BNB can be used to purchase NFTs on Binance NFT Marketplace.
Payments: BNB can be used to make payments to merchants and individuals who accept it.
Staking: BNB can be staked to earn rewards on Binance Earn.
Trading fees: BNB can be used to pay trading fees on Binance, which can save users up to 25% on their trading costs.
