Binance

Update 2 May 2023 • Reading Time 4 Minute




Binance coin (BNB) is a cryptocurrency created by Binance, one of the largest crypto exchange platforms in the world. In the Binance ecosystem, BNB is a utility token for discounts when paying trading fees on the Binance platform. However, BNB has become a crypto asset widely owned as an investment because of the rapid development of Binance as a crypto asset exchange platform.
According to data from Coinmarketcap, BNB is the 4th largest crypto asset in the world after Bitcoin (BTC) and Ethereum (ETH). As one of the largest platforms, Binance records over 1.4 million transactions every second (April 2021).
Table of contents

• Who founded Binance?
• What makes Binance coin Worth it?
  • 1. Embedded within the Binance ecosystem
  • 2. Binance unique quarterly burning policy
  • 3. Compatibility with the Ethereum blockchain
• What can you do with Binance coin?
  • 1. Taking advantage of the Binance ecosystem
  • 2. As a means of payment
  • 3. Using Binance Smart Chain (BSC)
  • 4. Long-term investment
• How can you get Binance coin?

Who founded Binance?

Changpeng Zhao and his team creates Binance coin and launched it in July 2017. Initially, The coin was created for payment within the Binance ecosystem. The Binance white paper explains that the initial 10% or 20 million BNB goes to the angel investors who finance Binance. Then, 40% or 80 million BNB is distributed to the team that built Binance. The remaining 50% or 100 million BNB is released to the market through an initial coin offering (ICO).