What Is Binance Coin?

Binance Coin (BNB) is the native currency of Binance, which was founded by Changpeng Zhao and He Yi in 2017 and is among the largest cryptocurrency exchanges. BNB started as an ERC-20 token launched on the Ethereum blockchain in 2017 through an initial coin offering (ICO) capped at 200 million coins, but the ERC-20 (Ethereum) BNB coins were swapped with BEP2 (Binance Exchange) BNB on a 1:1 ratio in April 2019 when Binance established its proprietary blockchain, Binance Chain. Thus, BNB coins are no longer hosted on Ethereum. BNB can, like other cryptocurrencies, be used to pay for goods and services, can serve as a utility token to pay for fees on the Binance exchange and participate in token sales on the Binance exchange, and powers the Binance DEX (decentralized exchange). While the FTX crypto exchange is the only one to offer BNB futures trading, see below for a full selection of markets where you can trade BNB for other cryptocurrencies, US dollars, and other fiat currencies.