Binance Coin
Binance Coin is the native token of Binance, the world’s largest cryptocurrency exchange, and powers the BNB Smart Chain ecosystem. It’s used for trading fee discounts, gas fees, and DeFi applications. BNB has utility across many Binance products and is regularly burned to reduce supply. Its growth is tied closely to Binance's ecosystem expansion.
| Binance Coin | |
|---|---|
| Available on Coinbase (2024)? | No |
| Creator(s) | Binance, founded by Changpeng Zhao |
| Start year | 2017 |
| Decentralized score (out of 5) | 2/5: Centralized with Community Input |
| Influences or central authority | Binance |
| Can be mined? | No |
| New issuance method | None |
| Maximum supply (in millions) | 200 |
| Percentage already issued (2024) | 77% |
| Key functions (other than transactions) | smart contracts, apps, asset tokenization |
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