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Binance Coin (BNB)

Binance Coin (BNB) is the native token of the Binance platform. This token was released as part of the ICO for Binance, and the value of the token is increasing continuously since the platform is getting popular. Though BNB is traded on the open market, and their value fluctuates, they are more like US dollars or Bitcoin. BNB is based on the ERC20 standard, and it uses the Ethereum network and blockchain which means that the coin follows the rules set down by the community for the Ethereum blockchain and it also allows the BNB to benefit from the stability and safety of the Ethereum blockchain and network. As the coin is built on the Ethereum, the user does not have to worry about the coin being stolen. Binance will rebate trading fees for those who use the Binance Coin (BNB) when trading – for the first five years. To prevent the value of a token from dropping, the founders of the coin has decided that every quarter they take 20% of their profits from fees and use it to buy and burn the coins. BNB is stored in a wallet that supports Ethereum and ERC-20 tokens.
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