By: Kristina Rigina
Everyone knows Binance. It is the most popular crypto platform in the world and one of the fastest-growing blockchains, Binance Chain. By the way, Binance Chain has become very popular due to its fast and cheap transactions.
If you check out the Coinmarketcap service, you will find out that Binance Coin (BNB) is one the most common assets in the market. BNB is the native token of the Binance platform.
Binance Coin is used for transaction commissions within the platform. Also, BNB holders can pay for goods and make purchases with those coins, take part in token sales, and exchange BNB for other crypto assets and trade them.
Now that we have found out what is Binance Coin, let’s see where it is used and the actual BNB price.
There are several use cases for Binance Coin:
- You can use Binance Coin for investments in stocks and ETFs
- Many crypto platforms enable trading BNB
- On the Crypto.com website, you can pay credit bills with BNB
- Some merchants allow payments in BNB for services
- When trading on the Binance exchange, you can use BNB as a native token for settlements and get discounts
- Many traveling and booking websites accept payments in BNB to expand their customer base
- Some applications allow to transfer funds for family or friends through BNB
- Some platforms accept BNB as collateral for loans.
BNB emission is limited to 200 million tokens. The asset creators regularly burn tokens to maintain the Binance Coin price and deflationary strategy. When the coin was launched (August 2017), its rate was 10 cents. Today (mid-June 2022), the BNB USDT rate is $218.64.
The Binance chain has become the base for numerous projects, because it offers low fees and high-speed transactions.
Disclaimer: (This article is sponsored and includes some commercial links)