What is Binance Coin (BNB) | Binance Cryptocurrency Exchange| Binance Smart Chain Binance Coin (BNB) is a cryptocurrency that can be used to trade and pay fees on the Binance cryptocurrency exchange. The Binance Exchange is the largest cryptocurrency exchange in the world as of January 2018, facilitating more than 1.4 million transactions per second. Users of Binance Coin receive a discount in transaction fees on the Binance Exchange as an incentive. BNB can also be exchanged or traded for other cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, etc. Binance Coin was created in July 2017 and initially worked on the ethereum blockchain with the token ERC-20 before it became the native currency of Binance�s own blockchain, the Binance Chain. Uses of Binance Coin Just like other evolving cryptocurrencies, the Binance Coin offers several uses that go beyond the Binance exchange, such as Trading: Binance Coin can be traded for other cryptocurrencies on various exchanges, depending on the restrictions set by the exchange. Transaction fees on the Binance Exchange: BNB can be used to pay for transactions on the Binance Exchange, and users also receive a discount for doing so. Credit card payments: BNB can be the form of payment for crypto credit card bills on Crypto.com. Payment processing: Merchants can offer BNB as a means of payment for customers, offering more flexibility in payment methods. Booking travel arrangements: BNB can be used to book hotels and flights on select websites. Entertainment: From paying for virtual gifts to buying lottery tickets, BNB serves several purposes in the entertainment space. Investment: Several platforms allow investors to invest in stocks, ETFs, and other assets using Binance Coin. Loans and transfers: BNB can be used as collateral for loans on certain platforms. Also, there are apps that allow users to split bills and pay friends and family through Binance Coin. thanks for watching, subscribe to our youtube channel, and hit the bell icon for instant notification. see you soon. Keep watching to Learn More about Binance Coin (BNB) � TOPICS IN THIS VIDEO � what is binance, binance coin price prediction,binance coin prediction,binance coin price,binance coin bnb � HASHTAGS � #binancecoin #BNB #bnbbinance �Watch our most recent videos: What is Metaverse | Metaverse Explained Under 2 Minutes � https://www.youtube.com/watch?v=Uya-zcN_0zo What is DEFI | DEFI Explained | Defi for Beginners | How Defi Work� �https://www.youtube.com/watch?v=GI9OC8T8pkU What is NFT and How It Works | NFT Explained | Non Fungible Tokens � �https://www.youtube.com/watch?v=MpFmGl1s_Kk ____________________________________________________________ The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome. Be sure to Subscribe, Like, and Comment for more content from �Crypto Explainer� So that you will never miss an update on the fast-growing Crypto world. ��Reach out to us at: [email protected] ________________________________________________________________________ ⏰Timestamps⏰ 00:00 Intro 00:20 What is Binance Coin (BNB)? 01:52 OutroMore Info