Binance Coin Utility and Why It Is the Preferred Token for Crypto Transactions
Binance Coin (BNB) is the native utility token for the Binance cryptocurrency exchange. It was created in 2017 as an ERC-20 token on the Ethereum blockchain but later migrated to its own blockchain, known as Binance Chain. One of the main reasons why BNB is the preferred token for crypto transactions is its use case within the Binance ecosystem. Holders of BNB can benefit from discounts on trading fees when using it to pay for transactions on the exchange. Additionally, Binance regularly uses a portion of its profits to buy back and burn BNB tokens, reducing their supply and potentially increasing their value.
Moreover, BNB has found other use cases outside of the Binance exchange. It is now accepted as a form of payment for…
