Binance Coin (BNB)
Introduction to Binance Coin (BNB)
Binance is a brand that has been growing with rapid success ever since the day it launched back in 2018. The Binance coin has a long history and is today one of the biggest crypto coins on the market. In the early stages, BNB could be used fee-reduction on Binance, today it is mainly used on Binance Smart Chain as the utility token to pay for gas fees.
Binance Smart Chain launched in 2021
Binance launched Binance Chain in 2019 as their main chain without getting too big of adoption. That’s why Binance Smart Chain was started. In 2021 we saw a huge increase in the demand for BNB, which was due to Binance Smart Chain (BSC). This was a fork of the Ethereum Chain with the base of EVM. On EVM blockchains you can deploy Smart Contracts which enables people to make DeFi applications. In mid-May we saw over 11 million transactions in one day over the chain mainly on PancakeSwap where people traded tokens. If you are looking to join BSC follow our article to get started.
Buy BNB on Binance or FTX
If you are looking to invest in Binance Coin there is a widespread of places to do so. Binance and FTX is two of the main exchanges that we recommend, both of them allow you to withdraw your crypto to Binance Chain and Binance Smart Chain.
