Convert BNB to TRY

Binance Coin (BNB) is a cryptocurrency created and issued by Binance cryptocurrency exchange.The creation of Binance Coin is mainly to promote the operation of Binance exchange and ecosystem. It can be used for several different purposes in the Binance ecosystem, such as paying transaction fees, withdrawal fees, listing and exchange fees, etc. Binance Coins can also be used to invest in new IEOS listed through the Binance launchpad program.

Each transaction completed by users in BNB will receive a discount according to the preset schedule. The details are as follows: 50% discount for all transactions in the first year, 25% discount for transactions in the second year, 12.5% discount for transactions in the third year, 6.75% discount in the fourth year, and no discount after that. The purpose of these discounts is to encourage traders to use Binance Coins.

Some partnerships have also helped spread the use of the token. One of the partnerships is with uplive, Asia’s number one high-end live video platform. Taking advantage of its 20 million users, uplive sells virtual gifts of BNB tokens. Another platform that supports Binance Coins is Monaco, a groundbreaking payment and cryptocurrency platform that supports BNB tokens on its mobile applications and visa cards.

What is Binance Coin (BNB)

The Binance exchange’s native cryptocurrency, BNB (previously Binance Coin), was built to make trading easier and provide customers with a lot of perks. As a vital part of its ecosystem, Binance has integrated BNB, making it the largest cryptocurrency exchange by trading volume. One such blockchain that is compatible with the Ethereum virtual machine (EVM) and capable of smart contracts is BNB Chain. Binance Chain’s BNB (an acronym for “build and build”) token can be used for a variety of tasks, including but not limited to: creating, sending, receiving, burning, and minting new tokens. One further way BNB is useful within the Binance ecosystem is that users can trade and invest in Binance coins.

With an initial coin offering (ICO) price of $0.10 per token, BNB was launched in 2017 and has since grown tremendously. On October 9, 2025, BNB ranked as the fourth most valuable cryptocurrency by market cap. The Binance exchange is a major player in the cryptocurrency market, and BNB’s versatility and integration with other platforms contribute to its success.

BNB Token Policy

As the discount rate of the Binance Coin decreases over time, the value of the coin is expected to decrease over time. Binance has a plan to fight this. According to their white paper, they plan to buy back tokens with 20% profit according to the transaction volume every quarter; These repurchased tokens are then “burned” (destroyed). This will continue until only 50% or 100 million tokens are in circulation. This is expected to help the token retain a lot of value. As of April 2018, Binance has burned 2220314 BNB tokens with a total value of about US $30 million.

How Does BNB Work?

Binance Coin was initially launched on the Ethereum blockchain and adopted the erc-20 standard, but was eventually migrated to Binance’s proprietary blockchain Binance chain. Binance chain does not support smart contracts, which is different from Ethereum blockchain. Binance chain uses the tendermint consensus mechanism, Byzantine fault tolerance (BFT).

It involves various types of nodes, such as verifier node, that is, members who vote to verify or declare the transaction invalid; Accelerator node to accelerate the transaction verification process; And the witness node, as the witness of the consensus process, broadcasts the transaction to other nodes. After each block is generated, the cost is distributed among verifiers.