- Buy BNBand 50+ other cryptos
- Pay by bank transfer, PayPal, credit or debit card
- Take advantage of a wide range of extra features
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
Binance Coin (BNB) is the native token of the Binance Exchange. It was used to fund the creation of the exchange itself through an ICO and offers users a potentially useful range of features.
You can buy BNB on Binance using a wide range of other cryptocurrencies.
There’s a total cap of 200 million BNB, but it’s a deflationary currency and will eventually shrink down to a cap of 100 million over the course of five years.
The 200 million was distributed 50/50 between the company and the public ICO.
This deflation is carried out through Binance’s purchase of 20% of the remaining public supply each quarter. The bought-back portion of coins is then burned.
The main purpose of BNB is to give you a discount on fees incurred when that fee is paid with BNB. This might be withdrawal fees, trade fees or anything else.
The discount decreases year on year in line with the 20% bought back each year.
In the future, Binance aims to build a decentralised exchange, and BNB will be used as one of the key base assets on the site as well as the gas that’s spent while executing contracts of the decentralised BNB exchange.
If you’re a frequent Binance user and want to duck large fees – especially if you plan on making very large trades or withdrawals – it might be worth stocking up even at high prices.
But remember that the discounts will decrease over time, and the coin will become almost useless before it’s all bought back.
Learn more about the REN cryptocurrency in this beginner’s and buyer’s guide.
Learn more about the COMP cryptocurrency in this beginner’s and buyer’s guide.
Learn more about the BAL cryptocurrency in this beginner’s and buyer’s guide.
Learn more about the BNT cryptocurrency in this beginner’s and buyer’s guide.
Learn more about the KAVA cryptocurrency in this beginner’s and buyer’s guide.
Learn more about the RUNE cryptocurrency with this beginner’s and buyer’s guide.
Learn more about the YFI cryptocurrency in this beginner’s and buyer’s guide.
Confused about DeFi? Find out how it works in this easy-to-read guide.
See how much you could save on top tech trends today with one of our Croma coupon codes.
If you’re shopping for a face mask you can wash and wear again and again, here’s a list of online retailers you can rely on.
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.