As BNB holders benefit from discounts and fee reductions on the platform, the demand for the token rises the more traders and investors use its services.Īs the native token for the Binance Smart Chain, BNB is also used for every transaction on the Binance Smart Chain. Its wide array of services ranges from crypto futures and options to staking and NFTs to Binance Credit Card and Binance Pay. They were among the first ones to offer tokenized shares of publicly traded companies, which allow users to invest in stocks without having to move money out of the crypto financial system.įurthermore, Binance aims to be a one-stop shop for financial services in the crypto financial system. They now offer their services on the Binance Smart Chain as well and allow for BNB swaps as long as users are connected to the protocol with a Binance Smart Chain wallet.īinance is one of the leading places for trading cryptoassets. Other DEXs such as SushiSwap and 1inch, which previously were Ethereum-only services, have switched to a multi-chain approach. Solely Ethereum-based DEXs like Uniswap don’t support BNB swaps on their protocols, as BNB is an asset that is foreign to Ethereum’s blockchain. But, as BNB is the native asset of the Binance exchange, several competitors have not listed the coin on their platforms. Coinbase, Huobi, Bitfinex, Bitstamp, and Kraken, among others, don’t offer BNB trading.Īs Binance Coin is also the native blockchain asset of the Binance Chain and Binance Smart Chain (BSC), decentralized exchanges (DEX) like PancakeSwap and BakerySwap running on the BSC offer BNB swaps to other BSC-based tokens. ![]() Thanks to the strong growth of Binance and its products and blockchains, the coin has surged in price in recent years.īNB can be purchased at crypto exchanges such as Binance, Bithumb, KuCoin, and FTX. Binance Coin (BNB), the platform coin of the crypto exchange Binance, has secured its place among the top cryptocurrencies by market capitalization.
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