Binance Coin - BNB
Binance Coin Price Chart
About Binance (COIN)
BNB started as a way to save on trading fees on Binance, but it's grown into something much bigger. It now powers the BNB Chain, a smart contract platform that supports everything from DeFi to NFTs. BNB makes the Binance ecosystem run smoothly, offering speed, low costs, and real utility.
It’s not trying to be a flashy headline-grabber. BNB focuses on function: enabling millions of users to transact, build, and experiment in a fast-moving crypto world. That kind of steady, behind-the-scenes role is exactly what makes it stand out.
As crypto keeps expanding, BNB remains a key player, quietly powering one of the busiest platforms out there. It's not just a token for traders anymore. It’s a building block for a much bigger crypto economy.
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FAQs About COIN
Who owns BNB?
BNB was launched by Binance, the world’s largest crypto exchange, and the story starts with Changpeng Zhao, better known as CZ.
A former developer at Bloomberg and Fusion Systems, CZ saw the writing on the blockchain wall and dove into crypto full-time. After a stint at Blockchain.info and a failed project or two, he launched Binance in July 2017 with co-founder He Yi, a former TV anchor turned crypto marketing powerhouse.
Binance started as a centralized exchange, but CZ had bigger plans. Just 11 days after Binance launched, they rolled out BNB, a utility token that offered trading fee discounts on the platform.
That tiny little perk token? It’s now a top 5 crypto, powering a full-blown blockchain ecosystem.
What is Binance Coin (BNB) used for?
BNB started in 2017 as a utility token for Binance, one of the world’s largest crypto exchanges. Initially, it gave users discounts on trading fees, but it’s transformed into so much more.
Today, BNB powers the entire Binance ecosystem, including:
- BNB Smart Chain (BSC) – a fast, low-cost blockchain for smart contracts, DeFi, NFTs, and games
- BNB Beacon Chain – handles staking, governance, and validator activity
- Fee payments – BNB is used for trading, gas, and launchpad access
- Burns – A portion of BNB is regularly destroyed to reduce total supply
BNB went from being a fee-saver to a full-blown infrastructure token. Not only is it tied to Binance, it is Binance’s backbone.
What Makes BNB Unique?
BNB isn’t just a discount coupon anymore. It’s the fuel for Binance’s entire blockchain machine. It powers BNB Chain, a dual-blockchain system made up of:
- BNB Beacon Chain (handles governance like staking and voting)
- BNB Smart Chain (BSC) (handles smart contracts and DeFi)
BSC is fast, cheap, and EVM-compatible, so devs can deploy Ethereum-style apps with way lower fees. That’s why it’s home to a flood of DeFi, GameFi, meme coins, and even serious enterprise apps.
BNB is used for gas fees, staking, and even token burns as part of a deflationary model that reduces the total supply over time. And initiatives like BEP-95 (inspired by Ethereum’s EIP-1559) now burn a portion of gas fees with every transaction.
Bottom line? BNB has real utility across a massive ecosystem, and it’s backed by a company that moves fast, breaks things, and then builds bigger.
How to buy BNB directly in Plus Wallet?
Buying BNB through Plus Wallet is quick, intuitive, and beginner-friendly, without sacrificing control.
Here’s how:
- Open Plus Wallet and tap "Buy"
- Choose BNB
- Pay with debit card, bank transfer, or swap from another crypto
- Your BNB lands directly in your wallet, fully secured and self-custodied
You can also buy BNB on Binance itself, or other centralized exchanges. But Plus Wallet makes the process cleaner and more transparent, especially if you care about controlling your own keys.
No platform lock-ins. No hidden hoops. Just smooth BNB access on your terms.
What is BNB Chain and how does it work?
BNB Chain is Binance’s custom blockchain network, designed for speed, scalability, and affordability.
It’s actually two chains:
- BNB Smart Chain (BSC) – runs Ethereum-compatible smart contracts
- BNB Beacon Chain – handles governance and validator coordination
Together, they support a huge ecosystem of:
- DeFi protocols like PancakeSwap and Venus
- Gaming platforms, NFT projects, and token launches
- Thousands of apps and millions of users across 60+ countries
BNB Chain offers low gas fees and fast confirmation times, making it attractive for developers and users who want Ethereum-style functionality without Ethereum-size fees.
It’s not trying to compete with every chain, it’s building a parallel, powerful ecosystem that already works.
How is BNB used for trading discounts and other benefits?
Originally, BNB gave Binance users up to 50% off trading fees. That discount decreases over time, but BNB’s utility has only expanded.
Here’s where BNB adds value:
- Trading fee discounts on Binance Spot and Futures
- Fee payments for margin loans, withdrawals, and more
- Access to exclusive token launches and Binance Launchpad events
- Staking and yield opportunities across the Binance ecosystem
- Gas fees on BNB Smart Chain apps (DeFi, games, etc.)
If you're active in Binance’s world, holding BNB isn't optional, it’s strategic. And if you’re using Plus Wallet, BNB opens the door to faster swaps and low-fee interactions with the wider BNB Chain.
What makes BNB different from other utility tokens?
BNB combines exchange utility, blockchain functionality, and token economics into one asset. It’s used for everything from paying fees to securing the BNB Chain itself.
What sets it apart:
- It actually gets used (billions in real daily volume)
- It powers an entire blockchain ecosystem, not just an exchange
- It has strong tokenomics, with quarterly burns and deflationary pressure
- It’s backed by one of the most dominant brands in crypto (Binance)
While most utility tokens fade after launch, BNB scaled into a core part of crypto infrastructure. It’s got utility, liquidity, and staying power.
Can I use BNB for DeFi and staking in Plus Wallet?
You can absolutely use BNB for DeFi in Plus Wallet, but staking isn’t supported (yet).
With Plus Wallet, you can:
- Access DeFi apps through BNB Smart Chain
- Swap BNB into stablecoins or altcoins for yield strategies
- Connect to dApps and explore the ecosystem, all without ever leaving your wallet
You stay in control of your assets while tapping into everything the BNB Chain offers, speed, low-fees, and flexibility. Farming, swapping, exploring? No problem. Staking? Not here (for now), but everything else? You’re good to go.
