What is Binance Coin (BNB)?
Binance Coin (BNB) is the native cryptocurrency of Binance, the world's largest cryptocurrency exchange by trading volume. Initially launched as an ERC-20 token on Ethereum, BNB now powers the Binance Smart Chain ecosystem. Key features include:
- Fixed Supply: Total capped at 200 million BNB
- Quarterly Burns: Binance uses 20% of quarterly profits to buy back and burn BNB until 50% (100 million BNB) is destroyed
- Multi-Platform Utility: Used for trading fee discounts (up to 50%), payments, and decentralized applications
Currently ranked among the top 20 cryptocurrencies globally, BNB serves as both a utility token and a store-of-value asset supported across 180+ countries.
Binance Exchange and BNB's Ecosystem
Founded in July 2017 by Changpeng Zhao (CZ), Binance rapidly grew to become a top-3 crypto exchange. BNB plays several critical roles:
- Transaction Fee Discounts
- Payment Method (Monaco Visa, Uplive streaming platform)
- Staking Rewards
- Governance Voting
👉 Discover how BNB fuels Web3 innovation
Current BNB Price Update
Latest Market Data (USD):
- $225.98 (≈¥1,653.73)
Prices fluctuate constantly - check live charts before trading
Step-by-Step Guide to Buying BNB
1. Choose a Reputable Exchange
Select platforms like:
- Binance (for direct purchases)
- OKX (for competitive trading pairs)
- Coinbase (for fiat onramps)
2. Complete Account Verification
- Submit KYC documents (ID, proof of address)
- Enable 2FA security
3. Fund Your Account
Deposit methods:
- Bank transfer (1-3 business days)
- Credit/debit card (instant)
- Crypto transfer (network confirmation times vary)
4. Purchase BNB
Method A: Direct Buy
- Navigate to "Buy Crypto" section
- Select BNB and payment method
- Confirm transaction
Method B: Trading Pairs
- Buy USDT first
- Transfer to spot wallet
- Trade USDT/BNB pair
👉 Start trading BNB with low fees
5. Secure Your BNB
- Hot Wallet: For active trading (Binance Web3 Wallet)
- Cold Wallet: For long-term storage (Ledger, Trezor)
BNB Price Prediction 2024-2025
| Source | 2024 Prediction | 2025 Prediction |
|---|---|---|
| WalletInvestor | $85 | $100+ |
| DigitalCoinPrice | $43 | $33 |
| TradingBeasts | $17 | $20 |
Predictions vary widely - always conduct independent research
Frequently Asked Questions
Is BNB a good investment?
BNB's value stems from Binance's ecosystem growth. While past performance shows resilience, future returns depend on adoption rates and burn mechanisms.
What's the lowest amount of BNB I can buy?
Most exchanges allow fractional purchases (minimum ≈$10 worth).
How often does Binance burn BNB?
Quarterly, with real-time blockchain verification of destroyed tokens.
Key Takeaways
- BNB combines utility with deflationary economics
- Multiple purchase methods exist (direct buy or trading pairs)
- Price predictions suggest moderate long-term growth potential
- Always prioritize secure storage solutions
Disclaimer: Cryptocurrency investments carry risk. Only invest what you can afford to lose.