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About Binance Coin
BNB is the native asset of the BNB Chain ecosystem, originally issued by Binance as an exchange utility token and since expanded into the gas and staking asset of its own smart-contract networks. It is one of the largest crypto assets by market value.
How BNB Chain Works
BNB Chain runs a smart-contract network compatible with the Ethereum Virtual Machine, so Ethereum applications port across with little change. A comparatively small validator set produces blocks quickly and cheaply, which favours throughput and low fees over maximal decentralization. BNB pays the gas for every transaction on the chain.
The History of BNB
BNB was issued in 2017 during Binance's token sale, initially as an Ethereum token granting trading-fee discounts. It migrated to Binance's own chain in 2019, and the smart-contract network followed in 2020. A recurring burn program removes BNB from supply, working towards a substantially reduced long-term total.
What BNB Is Used For
BNB pays transaction fees on BNB Chain, secures the network through staking, and is used across the applications built on it. Within the wider Binance ecosystem it also unlocks fee discounts and access to various product features.
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Why buy Binance Coin with YouHodler? +
YouHodler combines advanced security and encryption with a simple way to buy and sell BNB, fast crypto transactions, support for multiple fiat currencies, and a platform that works for newcomers and experienced traders alike.
Is Binance Coin a good investment? +
BNB is backed by one of the largest ecosystems in crypto and benefits from a deflationary burn program and heavy on-chain activity. It is also unusually exposed to the fortunes and regulatory position of a single company, and its chain is less decentralized than some alternatives. BNB is volatile — research it before investing.
Can I buy Binance Coin today and sell it tomorrow? +
Yes. YouHodler supports selling as well as buying, so you can acquire BNB and later exchange it for fiat currencies such as USD or EUR. Transactions settle quickly, major fiat currencies are supported, and withdrawals go out by bank transfer.
Is it safe to buy Binance Coin? +
Buying BNB is generally safe on a reliable platform like YouHodler, which applies data encryption, identity verification and multi-layer account protection. The asset itself stays highly volatile, so prices can move sharply over short periods.
How do I convert Binance Coin to cash? +
Connect a bank account, debit card or credit card to your YouHodler profile, exchange your BNB for a fiat currency such as USD or EUR, then withdraw the balance straight to your bank.
How much is $100 worth of Binance Coin right now? +
That depends on the live BNB price, which moves constantly. Use the price chart on this page to see the current rate and work out exactly how much BNB $100 buys at this moment.
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