What is Binance Coin (BNB)?
As we’ve just stated, Binance Coin is a super simple idea.
is a cryptocurrency exchange like many others (Bittrex, Poloniex, Kraken, Huobi, etc.). All of these exchanges make money by charging traders for each trade they make. Binance is no exception. However, Binance offers a discount to traders who use their native token (Binance Coin BNB) as payment for trades (instead of Bitcoin, Ethereum, or USDT). Traders love a discount, so BNB is used by thousands every single day.
This strong use case is central to the way cryptocurrencies are trades. This means that BNB isn’t simply a trading token, but a valuable currency in its own right, tradable against all other major currencies. In fact, the case for BNB is so strong that BNB is one of only two cryptocurrencies that gained value during the 2018 Q1 Crash (along with VeChain). We think there’s good reason to think it will continue to rise. Here’s why.