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What Is BNB And How Is It Used?

Submitted by on Tuesday, 13 September 20220 Comments

Crypto trading and investment are a good way to make a fortune having just a small initial amount. However, trading should not be treated as a casino game. Only experienced traders who know how the market works and can understand crypto charts and extract crypto forecasts from them succeed in this field. So investments in cryptocurrency is a job that requires patience, knowledge, expertise and a cool head.

If we look at crypto rankings, we notice the list of the most popular assets with the biggest market cap and daily trade volume. One of those assets is Binance Coin (BNB), which we’ll discuss in this article.

What Is BNB?

Everyone might have heard of Binance - this is a large platform where crypto holders can exchange cryptocurrency and conduct various trading transactions with the purpose of making a profit. So this platform has issued its own crypto - BNB. The BNB USDT pair is traded at $309 (as of August 2022). To support the BNB value, a part of the coins is regularly burned. It limits supply, thus, maintaining demand. 

Here are some use cases for Binance Coin:

  • paying fees;
  • online services;
  • booking travel tours;
  • buying goods and services;
  • BNB is used on different social media and as a gift token used by many social media influencers;
  • salary:  9 in 10 Binance workers chose to get a portion of their wages in BNB;
  • trading.

One of the examples of the BNB coins use cases is TravelbyBit - an Australian company with over 150 establishments that accepts payments in BNB.

The coin is available on all credible crypto platforms, so you can easily purchase it and start using it as you wish. Look for the best conditions for buying crypto and trading on the WhiteBIT exchange.